COASTAL INTGRTD SVCS (OTCMKTS:COLV) Crashes Despite $4.5 million Pump

In our previous article we warned you that the stock of COASTAL INTGRTD SVCS (OTCMKTS:COLV) is starting to show signs of hesitation once more and that you should approach it with extreme caution. It seems that we were exactly right and yesterday COLV crashed so hard that they wiped close to 30% of their value.

The stock opened at $0.137 and it turned out that this is going to be its highest point for the day as it began sinking towards the bottom of the chart almost immediately. By the time of the closing bell the ticker had dropped below the $0.10 mark closing at $0.095. Even the new email from StockTips issued early in the morning failed to prevent the disastrous outcome of the session.

This is the second time COLV has suffered massive drops since StockTips announced that the ticker is going to be their new pick on May 31. The paid pump has a disclosed budget of $4.5 million but despite the massive sum on the very first day of the pump COLV sunk by 28%. In yesterday’s email the fictional co-editor of StockTips Mr. Mike Statler stated that according to him COLV will reach 30 cents per share by the end of the week.

We will leave it up to you to decide how realistic such price truly is after taking a single glance at the latest financial report filed by the company. It covers the quarter ending March 31 and contains the following numbers:

• $794 cash and total assets !!!
• $256 thousand total current liabilities
• ZERO revenue
• $19 thousand net loss

You are not mistaken – a company that less than three months ago had total assets of less than $800 currently commands a market cap of $33 million.

And if that wasn’t bad enough keep in mind that there are more than 52 million shares priced at just $0.001 that saw the light of day as a conversion of debt last year. The people who received these shares could continue to reap massive profits even if COLV wipes drops further down the chart.

StockTips were able to save the stock after it began crashing at the start of last week but will they do it again? Or will the pumper simply vanish for a couple of months as it did with some of its previous unsuccessful promotions leaving all those who believed the email touts scrambling to cover their losses?