Interactive Health Network Corp. (OTCMKTS:IGRW) Turns Red
Interactive Health Network formerly known as HPC POS System, Corp. (OTCMKTS:IGRW) rose another 17.25% on Friday, pushed up by yet another marijuana-related publicity stunt and a paid pump.
The “audio-taped webcast interview” with Executive VP Cesar D. Vazquez was obviously a big hit with investors, as it pushed the ticker all the way up to $0.0598 on an almost million dollar volume.
The EVP certainly was boastfully optimistic in his statements, which no doubt added to the ticker’s momentum, which has been growing on hype and hope for a while now. But how long can such growth last?
Not much, as today’s session shows. The marijuana hype may push a company to the top of the charts for a while, but without solid financials and a good reputation the end result is likely to be nothing short of disappointing.
And one glance at IGRW‘s latest financial report shows that the first of the aforementioned points is clearly not met:
- Cash – $668 (NUMBER NOT IN THOUSANDS)
- current liabilities – $723 thousand
- NO REVENUES for the quarter ended Dec 31, 2013;
- Revenue for the quarter ended Sep 30, 2013 – $2 thousand
- Net loss Dec 31, 2013 – $86 thousand
As for IGRW‘s reputation – suffice it to say that the company is notorious for being unsuccessfully promoted six months ago. As of May 8, IGRW is once again on the receiving end of a paid pump worth a measly $1500, this time by Stock Market Media Group.
Already the company’s luck seems to be running out – currently IGWR is trading 13% down in today’s session.
Another pot-stock company that started its week in the red is mCig Inc, who (OTCBB:MCIG), who is also trading 5.49% down.
