{"id":5406,"date":"2014-12-11T11:13:37","date_gmt":"2014-12-11T11:13:37","guid":{"rendered":"\/?p=5406"},"modified":"2014-12-11T11:18:10","modified_gmt":"2014-12-11T11:18:10","slug":"new-media-insight-group-inc-otcmktsnmed-crashes-hard","status":"publish","type":"post","link":"\/articles\/new-media-insight-group-inc-otcmktsnmed-crashes-hard\/","title":{"rendered":"New Media Insight Group Inc (OTCMKTS:NMED) Crashes Hard"},"content":{"rendered":"\n

Like many other OTC companies, New Media Insight Group Inc (OTCMKTS:NMED<\/a>) like to begin their press releases by saying that they are a leader in their industry. NMED<\/a><\/strong> works in the mobile payment solutions business which is undoubtedly a hot sector at the moment, but we’re more interested in the “leader” part of the claim. Let’s put it to the test.<\/p>\n

Red lights start flashing almost immediately. Normally, leading companies tend to have presentable offices in big business buildings in the center of equally big cities. NMED<\/a><\/strong>, however, prefer to work out of what appears to be a residential house in Cave Creek, Arizona.<\/p>\n

There are some questions around the management team as well. Leading companies are often led by people who have extensive experience and huge achievements in various businesses. NMED<\/a><\/strong>, on the other hand, is headed by Michael Palenthorpe who was once at the helm of a company called Celldonate, Inc (now known as Gold Torrent Inc. (OTCMKTS:GTOR<\/a>)). He resigned from his position at Celldonate on September 30, 2013 and he left the company with no cash and revenues, about $2 thousand in total assets, $430 thousand in liabilities, and an accumulated deficit of nearly $490 thousand. <\/p>\n

And while we’re on the subject of financials, we might as well mention that Mr. Palenthorpe’s current company is not exactly flourishing. Here’s a summary of the most important figures as of July 31:<\/p>\n