Massive Paid Promotion For Integrated Cannabis Solutions, Inc. (OTCMKTS:IGPK)
Integrated Cannabis Solutions, Inc. (OTCMKTS:IGPK) saw very little trading until recently, just like many other stocks that are being prepared for a paid promotion. And of course, what other industry to enter than medical cannabis, the most hot now.
Being previously named Integrated Parking Solutions, Inc. the name change was announced on April 28, but apart from pushing the price up by 56% it didn’t manage to generate a lot of attention and the ticker closed the session with a pitiful $7.4 thousand in dollar volume.
Actually, the company’s financials don’t suggest that investors should be attracted to this particular stock. Here are the numbers of prime interest from the filing for Q1 of this year, that was filed under the alternative reporting standard in the OTC markets.
- cash: $0
- current assets: $0
- total liabilities: $33,989
- revenues: $0
- net loss: $300
As you can see, the report doesn’t really give out much signs that there is anything going on with the company. And this was the exact reason why there was the need for the paid promoters to step in and do their job.
The first email from the paid promotion came in after Friday’s trading session and they kept coming even in the weekend. The listed compensation for the promoters is $800 thousand, which makes this one of the most expensive pumps recently.
The third party that is paying for the promotion is Digvar Flin Ltd. a company we couldn’t find any other information about, apart from the payment for the effort. What is most bothersome, however, is the past record of the promoters, Dopper Group Ltd.
The subsidiaries of Dopper Group Ltd. touted Nevada Gold Corp. (OTCMKTS:NVGC) in the end of last year and Imogo Mobile Technologies Corp. (OTCMKTS:IMTC) more recently for the same compensation and both stocks were halted during their promotions.
This leads us to think that IGPK might suffer a similar faith in the not so distant future, so our best advice is to do your due diligence and weigh out the risks before deciding whether you want to jump in their bandwagon.
