Axiom Corp (OTCMKTS:AXMM) Gets Another Paid Pump
Just a couple of months ago, back in March, the stock of Axiom Corp (OTCMKTS:AXMM) was targeted by a paid pump. The artificial hype generated by the promotion pushed AXMM to a ridiculously over-inflated high of $1.84 per share.
In our articles from back then we warned you to be extremely careful when approaching the ticker. All those who used caution might have been able to walk away before AXMM began crashing down hard dropping from the pump high to less than 40 cents in just 4 sessions. By the end of May the ticker had obliterated more than 90% of its value.
Recently though AXMM managed to form a rather impressive recovery registering 8 consecutive sessions of gains climbing back up to 44 cents per share. Would you like to guess what the reason for the sudden reversal is? – That is right, a new paid pump.
This time an entity called AXMMStockReport created a landing page touting the company. According to the disclaimer at the bottom of the page they are managing a production budget of $200 thousand paid by OSLO Holdings LTD for two months. OSLO Holdings were the paying party for the pump in March too although back then the pump outfit carrying the promotion was Investor Edge. Rather curiously Investor Edge still expect to receive more money from OSLO – $110 thousand on June 1 and $130 thousand on July 1. On May 1 they bagged $230 thousand.
So, there is a new pump underway but unfortunately AXMM is still as dangerous as ever. The quarterly report covering the first three months of the year showed that at the end of March the company had:
• $137 thousand cash
• $235 thousand total current assets
• $480 thousand total current liabilities
• $11,301 revenues
• $384 thousand net loss
An even bigger red flag than the lackluster financial results however are the 26.4 million shares issued by AXMM back in 2012 priced at $0.0015 each. Although some of these shares were undoubtedly dumped on the open market during the previous paid pump if their owners still hold even a small portion of the initial amount the impact on the share price could once again be disastrous.
In an 8-K form filed yesterday AXMM distanced themselves from the paid pump stating that they do not have “any knowledge or affiliation with an entity named OSLO Holdings, Ltd. “
Any trades involving AXMM’s stock must be preceded by extensive due diligence. The ticker got devastated in the aftermath of the previous pump and this time the outcome might be equally as horrific.
