{"id":7774,"date":"2016-04-27T13:02:06","date_gmt":"2016-04-27T13:02:06","guid":{"rendered":"\/?p=7774"},"modified":"2016-04-27T13:14:39","modified_gmt":"2016-04-27T13:14:39","slug":"pocket-games-inc-otcmktspkgm-is-on-the-move-again","status":"publish","type":"post","link":"\/articles\/pocket-games-inc-otcmktspkgm-is-on-the-move-again\/","title":{"rendered":"Pocket Games Inc. (OTCMKTS:PKGM) Is On The Move Again"},"content":{"rendered":"\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/93\/93442\/gfsdgbsdbxcvbcvxbvbxcxv.png\" border=\"0\" width=\"404\" height=\"314\" \/>Pocket Games Inc. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PKGM\">PKGM<\/a>) exploded 150% up the charts yesterday, after announcing that it has entered into an acquisition agreement with Kicksend Holdings. <\/p>\n<p>Evidently, this press release attracted the attention of a lot of people, and as a result of their reassured buying, the ticker soared&#8230; All the way to the $0.002. That&#8217;s not an impressive price per share, but a bit of due diligence reveals that <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PKGM\">PKGM<\/a>&#8216;s <\/strong>abysmally low chart position is absolutely warranted.<\/p>\n<p>After all, we&#8217;re talking about a company, whose latest quarterly report looked like this:<\/p>\n<ul>\n<li>Cash and cash equivalents &#8211; $6 thousand<\/li>\n<li>Total Current Assets &#8211; $22 thousand<\/li>\n<li>Total Current Liabilities &ndash; $1.1 million<\/li>\n<li>Quarterly Revenues &#8211; $5 thousand<\/li>\n<li>Quarterly Net Income &#8211; $429 thousand<\/li>\n<\/ul>\n<p>These numbers reveal some pretty glaring inconsistencies. The lack of cash and overall assets is no surprise &ndash; <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PKGM\">PKGM<\/a> <\/strong>has always been a mediocre underachiever with almost nothing but debt to its name. How, then, did it manage to achieve a net gain of $429 THOUSAND after making just $5 thousand worth of revenues?<\/p>\n<p>Easy &#8211; it resorted to some creative accounting. Writing a positive $763 thousand under &ldquo;change in fair value of derivative liability&rdquo; afforded a nice big number, from which all the company&#8217;s losses were subtracted. However, investors would do well to remember that this number does not represent actual commercial achievements or steps upward.<\/p>\n<p>And speaking of steps upward &ndash; can you guess what else took a step upward a couple of weeks ago? If your answer was <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PKGM\">PKGM<\/a>&#8216;s <\/strong>authorized shares, they congratulations &#8211; you guessed correctly. Their count was upped from 500 million all the way to 5 BILLION not three weeks ago.<\/p>\n<p>Investors are advised to seriously consider that fact, as well as the fact that the word &ldquo;convertible&rdquo; can be found an impressive 93 times in the company&#8217;s latest financial report, and in most cases it appears in relation to debt that can be turned into stock at discounts ranging from 30% to 49%.<\/p>\n<p>Then investors would do well to remember that this latest acquisition <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PKGM\">PKGM<\/a> <\/strong>has made has been paid for with &ldquo;stock and debt&rdquo;, under circumstances that are as of now unclear.<\/p>\n<p><img decoding=\"async\" style=\"float: left;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/93\/93442\/xcvvxcefsadfsdfdasf.png\" border=\"0\" \/>All in all &ndash; <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PKGM\">PKGM<\/a> <\/strong>due diligence reveals a grim picture, that does not bode well for the ticker&#8217;s chances of maintaining its course or even retaining ground. Let the buyer beware.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pocket Games Inc. (OTCMKTS:PKGM) exploded 150% up the charts yesterday, after announcing that it has entered into an acquisition agreement with Kicksend Holdings. Evidently, this press release attracted the attention of a lot of&#46;&#46;&#46;<\/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":[1972],"class_list":["post-7774","post","type-post","status-publish","format-standard","hentry","category-news","tag-pkgm"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/7774","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=7774"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/7774\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=7774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=7774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=7774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}