Primco Management, Inc. (OTCMKTS:PMCM) Falls Further Down

[[tagnumber 0]]During yesterday‘s trading the downwards slide of the stock of Primco Management, Inc. (OTCMKTS:PMCM) continued with full force and by the end of the session it had lost another 9% sitting at $0.003. As we said in our previous article PMCM has been going nowhere but down since the start of April with only 3 sessions in the green out of the last 11.  [[tagnumber 1]][[tagnumber 2]]With the whole marijuana industry still trying to recover after the shocking suspension of Growlife, Inc. (OTCBB:PHOT) last week PMCM will have a hard time reversing their negative trend. At least yesterday after the end of the session they finally filed the annual report for 2013. In it investors learned that at the start of 2014 PMCM could rely on the following financials: [[tagnumber 3]] [[tagnumber 1]] [[tagnumber 5]] [[tagnumber 6]]$65 thousand cash[[tagnumber 7]] [[tagnumber 6]]$1.3 million total current assets[[tagnumber 7]] [[tagnumber 6]]$2.2 billion total current liabilities[[tagnumber 7]] [[tagnumber 6]]$72 thousand revenues[[tagnumber 7]] [[tagnumber 6]]$4 million net loss[[tagnumber 7]] [[tagnumber 16]] [[tagnumber 3]] [[tagnumber 1]]Even though the numbers represent the music–related side of the company they are still far from encouraging. Not to mention that as we have said on numerous occasions PMCM have issued nearly 3 billion shares between January 1 and February 24. This brought the outstanding shares to 4.8 billion out of the 5 billion authorized. Although the company recently announced that they were able to pay all of the convertible notes owned by Asher there are other notes that still could be converted into shares. That is why the management team has, at least for now, decided to increase the authorized shares to 10 billion. [[tagnumber 3]] [[tagnumber 1]][[tagnumber 2]][[tagnumber 22]]Despite the massive dilution and the inevitable issuance of more shares PMCM were able to sustain its share price thanks to the acquisition of the Suzie Q dispensary but the hype caused by it didn‘t last long. Now they are trying to entice investors once more and early in the morning today issued another PR article. It announced that PMCM have entered into an agreement for the acquisition of two 5 acre parcels in Snohomish County, Washington with the intention to build two facilities for the production of medical marijuana. [[tagnumber 3]] [[tagnumber 1]][[tagnumber 2]]If the PR manages to stop the fall of the stock remains to be seen but investors should note that PMCM will still need to finance its operations through the issuance of shares. That is why any trades with their stock should be preceded by extensive due diligence and careful research.[[tagnumber 2]][[tagnumber 3]]