Indo Global Exchange(s) PteLtd (OTCMKTS:IGEX) Crashing Hard

Three days ago I tried to warn readers that Indo Global Exchange(s) PteLtd (OTCMKTS:IGEX) could crash at any moment. Yesterday it did.

IGEX plummeted 25.31% and closed at $0.605 per share. The volume of 692,313 was a new high for IGEX, but that’s no consolation for those who didn’t get out on time.

As mentioned in previous articles, we knew that there was a $3 million pump caimpaign, but at that time we hadn’t received any emails from smaller pumpers paid to distribute pump materials.

It may have been just an accident, but yesterday prior to the crash, we recieved one such email. It was SmallCap Network which was used for the distribution. SmallCap Network has been paid $9 thousand from Winning Media.

Smallcap Network was also paid $8 thousand for the distribution of pump materials about Alkaline Water Company, Inc. (OTCMKTS:WTER). I mentioned WTER in my previous article about IGEX as an example of how fast and how hard this type of pump jobs can crash.

In the meantime, IGEX filed an 8-K about the appointment of Mermot M. Monaghan to the company’s Board of Directors. However, a filing which includes the financial statements of the company after the merger is still nowhere to be found.

So far today, IGEX is trading about 12% up, but it’s too early to say whether it can hold these levels much longer.