{"id":4662,"date":"2014-05-27T14:15:12","date_gmt":"2014-05-27T14:15:12","guid":{"rendered":"\/?p=4662"},"modified":"2014-05-27T14:15:32","modified_gmt":"2014-05-27T14:15:32","slug":"quest-products-corp-otcmktsqprc-spikes-on-pumps-barely-any-info","status":"publish","type":"post","link":"\/articles\/quest-products-corp-otcmktsqprc-spikes-on-pumps-barely-any-info\/","title":{"rendered":"Quest Products Corp. (OTCMKTS:QPRC) Spikes on Pumps, Barely Any Info"},"content":{"rendered":"

\"QPRC_chart.gif\"On Friday morning stock pumpers were out in force, inviting their subscribers to buy into Quest Products Corp. (OTCMKTS:QPRC<\/a>). Obviously, enough people decided to ride the pump, as the ticker moved more shares in a single session that it did over the last three full months. QPRC<\/a> stopped 205% up by the closing bell. <\/p>\n

There was a large volley of email pumps hitting our database, the first coming through at the opening bell. Within 15 minutes the pump emails stacked to more than a dozen. This appears to be the only reason QPRC<\/a> got moving after spending many days with zero shares traded. Why people decided to buy into the pump before doing any research whatsoever, though, remains unclear.<\/p>\n

Here is QPRC<\/a> in a nutshell. A pink sheet limited info company that last filed a financial report back in 2003. This is not a typo, this is actually more than a decade ago. Trying to find information on QPRC<\/a>‘s current outstanding shares, float or market cap also proves difficult. The company’s OTC Markets page returns “Not available” on all three of those. On the other hand, pumpers eagerly offered a “rumor” that QPRC<\/a> had a float of 7.4 million shares. With 7.2 million shares traded on Friday, this seems a highly unlikely possibility. Then again, your guess is as good as ours, as nobody knows the exact number.<\/p>\n

One could try looking at the company’s underwhelming financials reported back in 2003 but those are completely irrelevant today. QPRC<\/a> did file an NT 10-K that went public in late March, stating it intends to file a composite report for 2003 through 2012 and a separate 10-K for 2013. Somewhat predictably, this is still not done due to a ‘lack of resources’. The same filing states that QPRC<\/a> expects to report a loss of $863 thousand on revenues of $75 thousand, possibly referring to the 2013 annual.<\/p>\n

Considering the pumps constituted an offer to trade completely blind due to the lack of any and all current information on QPRC<\/a>, it’s no wonder things played out the way they did intra-day. The pump was front loaded and there was a significant gap up at the open. Following the usual life expectancy of most pumps, QPRC<\/a> spent most of its time past the first 15 minutes of trading going down.<\/p>\n

Those who bought at or near the spike and held, losing money in the process, would do well to conduct their own due diligence next time a pump email lands in their inbox, touting a company with very low liquidity, no filings for years on end and an unclear share structure.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Friday morning stock pumpers were out in force, inviting their subscribers to buy into Quest Products Corp. (OTCMKTS:QPRC). Obviously, enough people decided to ride the pump, as the ticker moved more shares in...<\/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":[1397],"class_list":["post-4662","post","type-post","status-publish","format-standard","hentry","category-news","tag-qprc"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4662","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=4662"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4662\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}