Bio-Matrix Scientific Group, Inc. (PINK:BMSN) Pump by Awesome Penny Pick Fizzles
After a pumped move up the charts over a couple of days, yesterday Bio-Matrix Scientific Group, Inc. (PINK:BMSN) closed over 25% down and reached $0.0026 at the bell, wiping the gains made over the previous session. Pumpers Awesome Penny Pick sent their subscribers another promotional email advertising BMSN moments before the company gapped down at the open and then proceeded to a deflated close.
Awesome Penny Pick first touted BMSN on January 10, as part of their announced week-long promotional campaign, expected to land Awesome Penny a modest $5 thousand dollars. The promotion’s disclaimer urges people to do their own research on the stock. Sadly, BMSN have still not filed their yearly 10-K report. The filing was once delayed through an NT 10-K delayed filing announcement. However, that extended the time frame up until January 15, i.e. yesterday. The 10-K is still not available and the company is flagged with the OTCMarkets.com ‘Pink limited information’ symbol.
The other most current report investors have as of now is the company’s last quarterly 10-Q which is for the period ended June, 2012 – hardly current or relevant at the present moment. The numbers in that also make it difficult to get excited about the stock:
- $29 thousand in cash
- $1.6 million in current liabilities
- ZERO revenue generated since inception
- $522 thousand net loss for the quarter ended June 2012
The company had a little over 1 billion common shares issued and outstanding as of December 31.
Promoters Awesome Penny Pick pumped other penny stocks before and the outcome of the promos was anything but good. In the summer of 2012 they promoted Empereal Americas, Inc. (PINK:TEXX). As the final push of the pump was over, the stock collapsed and is currently down about 90% from the peak reached during the pump.
Investors may want to see what is really going on with BMSN as of the present moment before they decide to buy in on the promotional hype. Pumped sub-penny stocks are a highly speculative ground and are inherently very risky investments, because once the pump stops, the crash is almost unavoidable.
