{"id":4545,"date":"2014-05-12T15:16:00","date_gmt":"2014-05-12T15:16:00","guid":{"rendered":"\/?p=4545"},"modified":"2014-05-12T15:17:32","modified_gmt":"2014-05-12T15:17:32","slug":"pingify-international-inc-otcbbpgfy-refuses-to-give-up","status":"publish","type":"post","link":"\/articles\/pingify-international-inc-otcbbpgfy-refuses-to-give-up\/","title":{"rendered":"Pingify International Inc (OTCBB:PGFY) Refuses to Give Up"},"content":{"rendered":"

\"2PGFY.png\"Here’s something you don’t see everyday: the CFO of a small cap enterprise issues a press release with which he warns investors that his company is under attack from a huge promotional campaign, says that the market cap “is ludicrous”, and urges the regulatory organs to investigate. Indeed, such things don’t happen too often, but last week, Vlad Milutin, Pingify International Inc (OTCBB:PGFY<\/a>)’s (now former) Principal Financial Officer did just that. Somewhat predictably, his actions caused quite a lot of commotion. <\/p>\n

They also presented a major setback for the $6.5 million promotion that was just getting started and put a rather big dent in Stock Tips’ (the outfit responsible for the pump) reputation. How bad was it?<\/p>\n

In a matter of just two days PGFY<\/a> managed to obliterate 74% of its market cap as it plummeted from $1.37 all the way to just $0.35 per share. Jason Gray, the company CEO, tried to break the fall by announcing a letter of intent for the acquisition of a company called 80 Elements Entertainment and he also noted that, in his opinion, some of the statements made by Mr. Milutin haven’t been completely true, but it’s clear that his efforts weren’t enough to turn the tables for PGFY<\/a>. <\/p>\n

At that point, most promotional outfits would have simply given up and would have moved on to the next exciting pick. Not Stock Tips, though.<\/p>\n

Two hours before the closing bell on May 7, they sent out an email saying that the performance had not been pretty, but assured their subscribers that they’re still sticking with PGFY<\/a> and urged them to do the same.<\/p>\n

The risks were pretty high. Rumors about a potential SEC investigation were flying around and people were extremely uneasy about the ugly mess that the pump had turned into. In addition to this, the company profile was given a Caveat Emptor badge and some Seeking Alpha contributors were attacking the promotional campaign.<\/p>\n

Despite all this, PGFY<\/a> managed to regain quite a lot of lost ground on Thursday. More than $3.8 million worth of shares changed hands while the ticker jumped up by a whopping 91%.<\/p>\n

At only 2%, Friday’s gains were not quite as impressive, but trading was interesting nevertheless. PGFY<\/a> opened the day with a small gap up and swung wildly between $0.535 and $0.89. It eventually closed the session at $0.685 per share.<\/p>\n

Stock Tips seem to be pretty happy about the end of the week. On Saturday, Mr. Mike Statler (the fictional name of the pumpers’ Co-Editor), wrote another email, this time suggesting that the ticker is poised to reach $2 per share. Is he right?<\/p>\n

\"7PGFY_logo.png\"Only the future can tell. PGFY<\/a> already showed us that it’s capable of making huge jumps while being propelled by nothing more than promotions and excitement. On the other hand, the more risk-averse investors are pretty apprehensive about last week’s bloodbath and the threat of actions against the company from the SEC.<\/p>\n

All in all, predicting what’s going to happen next is nigh on impossible which is why treading carefully and thinking through every single trade is absolutely essential.<\/p>\n

As for the longer run, the recent press releases suggest that PGFY<\/a> are indeed moving forward with their business plan and on Friday, they also said that they’re in the process of raising some much-needed cash. Bear in mind, however, that their Pingify app has been on the iTunes store for more than two years now. According to the latest 10-K, it has generated “less than $10 in revenues to date<\/em>“.<\/p>\n","protected":false},"excerpt":{"rendered":"

Here’s something you don’t see everyday: the CFO of a small cap enterprise issues a press release with which he warns investors that his company is under attack from a huge promotional campaign, says...<\/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":[1374],"class_list":["post-4545","post","type-post","status-publish","format-standard","hentry","category-news","tag-pgfy"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4545","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=4545"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4545\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}