InoLife Technologies Inc. (OTCMKTS:INOL) Awakens While Falling Hard
The stock of InoLife Technologies Inc. (OTCMKTS:INOL) has finally awakened, after a long period of low trading and almost no movements in price. The reason for yesterday’s havoc is a huge pump campaign that was initiated on September 2.
In just 2 days our inboxes were filled with emails from pumpers of all sorts. The total amount of promotional emails came at above 30 and the compensations were ranging from $2,000 to $15 thousand.
The promotional campaign did its job of attracting attention, but the price was crushed. INOL fell a total of 36% and went from $0.022 to $0.014. It all happened quickly with a big dumping of stock in the beginning of the session causing the price to plummet and then continued to move in a seemingly straight line until another drop took place about 1 hour before the market closed.
The volume was huge, with a total of 11 million traded shares in the end of the day and generated a trade value of $216 thousand. The company has a market cap of $3.48 million, but what exactly do they have to back that up.
- cash: $13 thousand
- current liabilities: $756 thousand
- revenue since inception: $0
- net loss: $1.2 million
That doesn’t look good, does it? Things become even worse when you find out that Gary Berthold and Sharon Berthold who are leading the company have received 15 and 14 million shares of common stock in 2012 in compensation for unpaid salaries and it looks like they want to cash in.
Overall, the company isn’t having any development and the stock’s movement is relying solely on promotional campaigns. This is why we advise you to stay away from this one, but if you are looking for a speculative stock you might find it with INOL. Just be sure to do a lot of due diligence and weigh out the risks.
