Integrated Cannabis Solutions, Inc. (OTCMKTS:IGPK) Got A Repump
Just a little more than a month ago the stock of Integrated Cannabis Solutions, Inc. (OTCMKTS:IGPK) received a $800 thousand paid promotion. The pump quickly managed to boost the company to price levels above 90 cents but such heights proved to be unsustainable. IGPK suffered a massive drop and in just 6 sessions wiped nearly 90% of its value and returned to $0.10 per share. Apparently the people who stood behind the pump still had some shares left to sell and this Sunday the pumpers returned.
We received more than 12 different email alerts touting IGPK but this time the sums disclosed by the involved newsletters were significantly lower. The biggest compensation of $100 000 went to OTCRockstar followed by David Cohen and his Research Driven Investor who bagged $35 thousand. The flurry of emails certainly managed to affect the performance of stock during yesterday’s session.
IGPK traded 4.7 million shares compared to just 200 thousand posted on Friday but unfortunately the increased attention did not result in a upward movement of the stock. In fact IGPK crashed by 13% and slid back down to $0.105.
Investors should have anticipated the negative performance of the company due to the plethora of red flags surrounding it. At the end of April IGPK assumed their current name and announced their intention to enter the medical marijuana industry but so far they have no real operations in the sector. They were supposed to acquire the company iComply, LLC but on May 13 that deal was officially terminated. Since then there have been no official PR statements from the company.
IGPK‘s financials are equally as distressing. Just three months ago at the end of March they had:
- ZERO assets
- $40 thousand liabilities
- ZERO revenues
In addition, during the three months between September and December IGPK issued over 80 million free trading shares and the people holding them are most likely the ones paying for the promotions.
At the moment IGPK has nothing to offer. The company has non-existent financials and even as a pump play it is refusing to 
move upwards.
move upwards. The biggest loser during yesterday’s session though was the stock of Affymax, Inc. (OTCMKTS:AFFY). The company filed an 8-K form in which they announced that their partnership with Takeda Pharmaceutical Company Limited will be terminated as of September, 2014. The news put investors in a state of panic and as a result AFFY slashed more than 54% of its share price closing the day at $0.29.
