{"id":7419,"date":"2015-11-10T15:02:05","date_gmt":"2015-11-10T15:02:05","guid":{"rendered":"\/?p=7419"},"modified":"2015-11-10T15:14:37","modified_gmt":"2015-11-10T15:14:37","slug":"endeavor-ip-inc-otcmktsenip-stumbles","status":"publish","type":"post","link":"\/articles\/endeavor-ip-inc-otcmktsenip-stumbles\/","title":{"rendered":"Endeavor IP Inc (OTCMKTS:ENIP) Stumbles"},"content":{"rendered":"\n

Things were almost looking up for Endeavor IP Inc (OTCMKTS:ENIP<\/a>), as the ticker was pushing and shoving its way towards double zeroes, but Friday brought reversal. ENIP<\/a> slipped 33% and dropped back to $0.0006 per share, with volume picking up speed once more, at over 376 million shares traded.<\/p>\n

The reason ENIP<\/a> is shifting heavy daily volumes once more is yet another PR from the company, going live on Nov 3. ENIP<\/a> announced the Supreme Court of the state of NY ruled in favor of the company on a promissory note case. As a result of the ruling ENIP<\/a> is no longer obligated under promissory notes made to Bay Capital and Knight Financial. This essentially allowed the company to reduce its liabilities with a good $1.9 million.<\/p>\n

This debt reduction was sufficient incentive for excitable traders to buy ENIP<\/a> stock all the way up to $0.0009 per share on Thursday. The same sort of excitement sent ENIP<\/a> into double zeroes in early September. Back then the company announced a patent license and a settlement signed with Schneider Electric USA, without any more specifics about the nature of the agreements. The September price hike lasted a single day, then got wiped out in a red streak. This new debt reduction surge extended over three sessions but looks just about as prone to crashing hard and fast, judging by Friday’s session.<\/p>\n

With its current share structure, it’s somewhat difficult to imagine ENIP<\/a> soaring. The thing is, the company diluted its shareholders over 250% within the space of just six months in 2015. Back in March there were 190 million outstanding ENIP<\/a> common shares. By September this number was up to 695 million.<\/p>\n

A shocking 99 million of the new shares were issued at just $0.00006 per share. This is not a typographical error, those are four zeroes after the decimal. An entity that lent money to the company converted $5,960 worth of debt into 99.3 million common shares at a stupendous discount.<\/p>\n","protected":false},"excerpt":{"rendered":"

Things were almost looking up for Endeavor IP Inc (OTCMKTS:ENIP), as the ticker was pushing and shoving its way towards double zeroes, but Friday brought reversal. ENIP slipped 33% and dropped back to $0.0006...<\/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":[1081],"class_list":["post-7419","post","type-post","status-publish","format-standard","hentry","category-news","tag-enip"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/7419","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=7419"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/7419\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=7419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=7419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=7419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}