{"id":2596,"date":"2013-09-20T15:13:12","date_gmt":"2013-09-20T15:13:12","guid":{"rendered":"\/?p=2596"},"modified":"2013-09-20T15:13:20","modified_gmt":"2013-09-20T15:13:20","slug":"umax-group-corp-otcbbumax-crashes-to-the-ground","status":"publish","type":"post","link":"\/articles\/umax-group-corp-otcbbumax-crashes-to-the-ground\/","title":{"rendered":"Umax Group Corp (OTCBB:UMAX) Crashes to the Ground"},"content":{"rendered":"<p> <img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/UMAXchart.png\" border=\"0\" alt=\"UMAXchart.png\" title=\"UMAXchart.png\" width=\"350\" height=\"203\" \/>Since April this year the stock of Umax Group Corp. (OTCBB:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=UMAX\">UMAX<\/a>) has been steadily climbing up the stockchart starting from $1.50 and almost doubling it last week when they peaked at $2.98. Unfortunately reality finally caught up to the company and in just 4 days they plummeted down to just $0.8 losing more than 70% of their value. Yesterday volume reached its all time high of 300 thousand traded shares. <\/p>\n<p>The company is still in the development stage and its business plan consists of new and innovative nutritional products. Presently they have three products which finally helped <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=UMAX\">UMAX<\/a> generate some revenues. For the period ending July 31 they disclosed the following financial results:<\/p>\n<ul>\n<li>$8526 cash<\/li>\n<li>$10 thousand total assets<\/li>\n<li>$28 thousand total liabilities<\/li>\n<li>$7400 revenues<\/li>\n<li>$19 thousand net loss<\/li>\n<\/ul>\n<p>It is apparent that for now <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=UMAX\">UMAX<\/a> has nothing to offer. Even at the current price levels they are grossly overvalued with a market cap of $78 million so further corrections are likely to happen.<\/p>\n<p>An even bigger red flag are the extremely cheap shares held by insiders of the company. On April, 2011 60 million shares were sold to its director for $0.000025 each. Just six days later the same director bought another 120 million at the same price. A year later 47.6 million were sold for $0.0005 per share. Even though 130 million of them were returned to <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=UMAX\">UMAX<\/a> there were still 97.6 million outstanding shares that could bring some handsome gains to their owners.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/IGEXchart1.png\" border=\"0\" alt=\"IGEXchart1.png\" title=\"IGEXchart1.png\" width=\"350\" height=\"156\" \/>It is best to stay away from <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=UMAX\">UMAX<\/a> for the time being. This may also be the right course of action when dealing with the latest pick of Awesome Penny Stocks &#8211; Pacific Clean Water Technologies, Inc, (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PCWT\">PCWT<\/a>) who have been promptly marked with the caveat emptor sign by OTCMarkets. The stock of Indo Global Exchange(s) PteLtd (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=IGEX\">IGEX<\/a>) is also going down slashing a quarter of its value during yesterday&#8217;s session. The company is currently the target of a $ 3 million pump.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since April this year the stock of Umax Group Corp. (OTCBB:UMAX) has been steadily climbing up the stockchart starting from $1.50 and almost doubling it last week when they peaked at $2.98. Unfortunately reality&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1000,1009,1004],"class_list":["post-2596","post","type-post","status-publish","format-standard","hentry","category-news","tag-igex","tag-pcwt","tag-umax"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/2596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=2596"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/2596\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=2596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=2596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=2596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}