{"id":2564,"date":"2013-09-18T14:15:23","date_gmt":"2013-09-18T14:15:23","guid":{"rendered":"\/?p=2564"},"modified":"2013-09-18T14:15:27","modified_gmt":"2013-09-18T14:15:27","slug":"umax-group-corp-otcmktsumax-shaken-down-from-heights","status":"publish","type":"post","link":"\/articles\/umax-group-corp-otcmktsumax-shaken-down-from-heights\/","title":{"rendered":"Umax Group Corp. (OTCMKTS:UMAX) Shaken Down from Heights"},"content":{"rendered":"

A shakeout, a buying opportunity- those are some of the rationalizations for the drop of Umax Group Corp. (OTCMKTS:UMAX<\/a>). The stock closed on Monday at $2.19, losing 24% of its value on dollar volumes above $400K. The stock was nearing $3 when the selling happened. \"UMAX0917.gif\" <\/p>\n

UMAX<\/a> waves a lot of red flags, the first one being the uncertainty of the address- an office building in Los Angeles, California, and another street address in Poland, on another one of the company’s profiles. The US-based office is not explicitly seen in pictures, and it seems located in an urban area, surrounded by small shops and hair and nail salons. UMAX<\/a> is supposed to offer various health supplements, but lists itself as a development stage company, and there are no news of products ready to be marketed. \"VPCO0917.png\"<\/p>\n

UMAX<\/a> shot up from $1.50 since March, and generally increased its activity in 2013, posting regular quarterly filings and yearly results. Still, we did not manage to intercept a promotion for this ticker, though it may have benefited from a general bull market.<\/p>\n

But the fallout is indeed shocking, so at $2 UMAX<\/a> is still not receiving any stability guarantees. We will keep tracking this ticker for further developments, but so far it seems UMAX<\/a> was lifted by the bull market in 2013. As for the underlying supplements business, this is how the company lines up:<\/p>\n