{"id":4961,"date":"2014-10-23T16:13:57","date_gmt":"2014-10-23T16:13:57","guid":{"rendered":"\/?p=4961"},"modified":"2014-10-23T16:18:33","modified_gmt":"2014-10-23T16:18:33","slug":"cannabis-kinetics-corp-otcbbcank-gets-a-slow-but-steady-pump","status":"publish","type":"post","link":"\/articles\/cannabis-kinetics-corp-otcbbcank-gets-a-slow-but-steady-pump\/","title":{"rendered":"Cannabis Kinetics Corp (OTCBB:CANK) Gets a Slow but Steady Pump"},"content":{"rendered":"\n

A few hours after Friday’s closing bell, Cannabis Kinetics Corp (OTCBB:CANK<\/a>) announced that they have reached a definitive agreement for the acquisition of The Big Tomato – a store, warehouse, and distribution facility in Denver, Colorado. According to the press release, the deal will bring an “immediate revenue stream<\/em>” of around $200 thousand per month. How did the market react?<\/p>\n

Yesterday’s session was quite exciting for CANK<\/a><\/strong>. The ticker opened the day with a rather huge gap up at $1.42 per share. It managed to run to an intraday high of $1.46, but it then faltered and slipped back down, closing the day at $1.37 per share (5.4% in the green). It’s fair to say that, in light of Friday’s news, the performance was not really all that impressive, but we should note that the dollar volume of $312 thousand is a record for CANK<\/a><\/strong>. But was last week’s announcement the sole reason for it?<\/p>\n

Unfortunately, that doesn’t seem to be the case. Once you have a look through the message boards, you’ll see that some investors have reported unsolicited phone calls<\/strong> from unknown outfits who are trying to tout the company. In addition to this, Investor-Edge, a relatively new newsletter, also appears to be sending alerts on CANK<\/a><\/strong>. According to their disclosure page, they have already received $150 thousand<\/strong> and they expect to pocket a further $150 thousand<\/strong>.<\/p>\n

So, CANK<\/a><\/strong> is the target of a paid pump. If the promoters manage to raise some more hype around the ticker and if the SEC decides to let the show run for a while, we might just see a few more green sessions. Even so, proceeding with caution is extremely essential. It’s been three weeks since the Commission suspended the last promoted penny stock and there’s no telling when they’ll decide to put an end to another pump.<\/p>\n

And while Investor-Edge is a relatively new outfit, CANK<\/a><\/strong> isn’t their first promotion. In June, they tried to pump Vapor Hub International Inc (OTCMKTS:VHUB<\/a>). When the promotion was in full swing, the ticker was hovering between $0.40 and $0.50 per share<\/strong>. Right now, it’s struggling to stay above $0.015<\/strong>. Will the same thing happen to CANK<\/a><\/strong>?<\/p>\n

If it does, the people who are jumping in right now will lose a huge amount of money. Others, however, won’t be that bothered. Don’t know what we’re talking about? <\/p>\n

Let us rewind the tape a little bit and see what the situation was back in 2012 when the company was still called Lingas Resources Inc. If you open this S-1 registration statement, you’ll see that a little over two years ago, John Catagan Ngitew and Grace Evangelista Parinas, former Directors and Officers, owned 50,000,000 shares of common stock<\/strong> (100% of Lingas’ O\/S count<\/strong>). They wanted to take the company public which is why, they decided to sell half of their holdings to some unnamed investors at $0.002 per share<\/strong>. According to the 10-K for the period ended November 2012, they succeeded. Back then, Mr. Ngitew and Ms.Parinas held 25 million shares<\/strong> and the aforementioned unnamed investors owned the other 25 million<\/strong>.<\/p>\n

In May 2014, Lingas went through an overhaul and it officially became known as Cannabis Kinetics Corp. The management team was changed and Mr. Ngitew and Ms.Parinas sold their stakes in the company which means that they are now out of the equation. The unnamed investors, however, might still be holding on to their shares.<\/p>\n

When you take into account the two stock splits (a 5.8 for 1 forward one in June 2013<\/strong> and a 1 for 10 reverse one in May 2014<\/strong>) you’ll see that the aforementioned seed shareholders could now own up to 14,500,000 shares of CANK<\/a> common stock for which they paid just $50,000<\/strong>.<\/p>\n

Even if CANK<\/a><\/strong> crashes, these people will still be able to cash in on some healthy profits.<\/p>\n","protected":false},"excerpt":{"rendered":"

A few hours after Friday’s closing bell, Cannabis Kinetics Corp (OTCBB:CANK) announced that they have reached a definitive agreement for the acquisition of The Big Tomato – a store, warehouse, and distribution facility 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":[1467,1328],"class_list":["post-4961","post","type-post","status-publish","format-standard","hentry","category-news","tag-cank","tag-vhub"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4961","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=4961"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4961\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}