{"id":3755,"date":"2014-01-30T14:15:16","date_gmt":"2014-01-30T14:15:16","guid":{"rendered":"\/?p=3755"},"modified":"2014-01-30T14:16:55","modified_gmt":"2014-01-30T14:16:55","slug":"imogo-mobile-technologies-corp-otcmktsimtc-receives-a-3-million-pump","status":"publish","type":"post","link":"\/articles\/imogo-mobile-technologies-corp-otcmktsimtc-receives-a-3-million-pump\/","title":{"rendered":"Imogo Mobile Technologies Corp (OTCMKTS:IMTC) Receives a $3 million Pump"},"content":{"rendered":"

\"IMTC.png\"At the beginning of August 2013, Imogo Mobile Technologies Corp (OTCMKTS:IMTC<\/a>) registered a few interesting sessions. The ticker jumped from around $0.16 to more than $0.20 in a matter of just three days, but soon after, it lost its footing and slashed its price in half within no more than a week. All this while registering some unusually high trading volumes. The reason? <\/p>\n

Part of the interest could be attributable to a pair of optimistic press releases, but we can see from some old tweets that traders were talking about unsolicited emails touting IMTC<\/a>. Apparently, the junk mail got too much for a Seeking Alpha contributor by the name of Michael Nau, who took the time and dedicated a full article to IMTC<\/a>. Long story short, he said that the company is worth $0 because they had no assets. You can have a look through his arguments and decide for yourself whether he’s right or not, but whatever your opinion is, it is a fact that as of August 31, 2013, IMTC<\/a> had $0 in total assets.<\/p>\n

The thing that interests us most, however, is to be found below the article itself. If you take a closer look, you’ll see that yesterday, a user who calls himself TVWizard said that he has received a glossy brochure from Wall Street Revelator that presents IMTC<\/a> as a threat to Microsoft Corporation (NASDAQ:MSFT<\/a>). We saw similar reports from other traders around social media websites and this meant that some further research was in order.<\/p>\n

Sure enough, we stumbled upon a landing page which has apparently been live for a couple of days. It is, as you can imagine, written by Wall Street Revelator and their very own Andy Carpenter and, like all good pumpers, they have included a disclaimer written in an annoyingly fine print. It says that the total promotional budget stands at $3 million.<\/p>\n

This could explain the incredibly high dollar volumes from the last couple of days. It could also explain the steep appreciation from just $0.03 at the beginning of 2014 all the way up to yesterday’s close of $0.41. But it also raises a question: “Why would someone spend $3 million on pumping a penny stock that has no assets whatsoever?<\/em>“.<\/p>\n

We think we might have the answer. If you open IMTC<\/a>‘s latest financial statement and scroll down to Note 3 – Capital Stock, you’ll see that 10,500,000 common shares were issued in exchange for just $24 thousand back in September 2005. Five years later, a seven-for-one split was effectuated bringing the number of discounted shares to over 73 million. We can’t be sure if the people who originally got the stock are still holding on to it, but if they are, they could unleash it on the open market and make quite a lot of quick and easy money. If they do it, the ticker will probably take a massive plunge.<\/p>\n

\"4LIFS.png\"Then there’s Wall Street Revelator’s track record. Andy Carpenter and his crew’s last attempt at giving a penny stock a push was observed back in November 2013 when they pumped Life Stem Genetics Inc (OTCMKTS:LIFS<\/a>). At first, their efforts were somewhat successful and LIFS<\/a> did manage to touch $1.90 per share. Soon after, however, the SEC stepped in and put an abrupt end to the whole fiasco. Currently, LIFS<\/a> is traded at $0.20 per share.<\/p>\n

A potential suspension for IMTC<\/a> won’t be too much of a surprise. Apart from a couple of optimistic press releases, there’s very little to suggest that the company is moving in the right direction. Even if the pump continues, a drop seems inevitable which is why considering the risks carefully is absolutely essential.<\/p>\n","protected":false},"excerpt":{"rendered":"

At the beginning of August 2013, Imogo Mobile Technologies Corp (OTCMKTS:IMTC) registered a few interesting sessions. The ticker jumped from around $0.16 to more than $0.20 in a matter of just three days, but...<\/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":[1224,1109,858],"class_list":["post-3755","post","type-post","status-publish","format-standard","hentry","category-news","tag-imtc","tag-lifs","tag-msft"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3755","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=3755"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3755\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}