Innovativ Media Group Inc (OTCMKTS:INMG) Sliding To Rock Bottom Again

[[tagnumber 0]][[tagnumber 1]]The stock of Innovativ Media Group Inc (OTCMKTS:INMG) has shown us a pretty terrible performance for quite some time now. The ticker had reached the bottom of the chart for quite some time and was swaying between $0.0001 and $0.0003 per share in the past several months.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The volumes had dropped down from those that we saw in the middle of the year and the company stock rarely registered any trading worth mentioning. That was until [[tagnumber 6]]INMG[[tagnumber 7]] revealed their results for the third quarter of the year and issued an overly–excited press release. Here are some of the numbers contained in the company’s report for the period ended September 30.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $53 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $64 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $24 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $48 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly net income: $14 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Although these numbers aren’t that great we can’t pass by the fact that the company is actually able to operate at a profit and keep liabilities to a minimum in the latest quarter. It is, indeed as the company stated in their press release, the best quarter that [[tagnumber 6]]INMG[[tagnumber 7]] has had and the results have had a positive impact on the company stock as well.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After a few days of climbing and reaching a price of $0.0006 per share, however, we saw [[tagnumber 6]]INMG[[tagnumber 7]] begin to rapidly descend the charts. The last session of last week saw the ticker lose 25% of its value and close at $0.0003 while a total of 296 million shares changed their owners and generated $88 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This might just be the result of a massive dumping of shares on the open market. Let’s not forget that, as we wrote in our previous article, [[tagnumber 6]]INMG[[tagnumber 7]] issued 713 million shares in the first half of the year in order to satisfy just $57 thousand in debt. This puts the price of each issued share at $0.00008 (yes, those are four zeros after the decimal). In any case, any trades involving [[tagnumber 6]]INMG[[tagnumber 7]] should be preceded by extensive due diligence.[[tagnumber 2]]