Prince Mexico S.A., Inc. (OTCMKTS:LUVE) Attempts to Recover from Pump Crash
After Prince Mexico S.A., Inc. (OTCMKTS:LUVE) got around 70 email touts, most of them paid, and then almost doubled in price, the stock tanked hard two days in a row last week, returning to levels well below the pre-pump prices. On Friday the stock attempted a minor comeback, with only moderate success.
After the initial huge crash of LUVE, when the stock came down 60% in a single session last Wednesday, most promoters fell completely silent, leaving their subscribers to lick their wounds and count their losses. A couple of paid pumpers came forward to apologize, their apology coming through as a bad joke after advertising LUVE and its potential just hours ago.
Friday saw LUVE move 42% up, yet this prompted no new email touts from the promoters. It would be very hard to present the session as a ‘bounce’, as despite the percentile change, LUVE remained below the prices at which all who bought the pump entered.
We have looked at LUVE‘s situation in multiple articles, but it bears repeating that LUVE is currently still a Pink Limited Information company due to fact that their Q1 report is still not published. The latest available financial information from LUVE is contained in their 10-K for the year ended December 31, 2012. Here is a brief look at some numbers posted in this report:
- $8 thousand in cash
- $769 thousand in current liabilities
- $138 thousand yearly net loss
- $0.58 million accumulated deficit
With LUVE throwing optimistic plans and intentions in the face of traders through optimistic press releases brimming with excitement and not much meaningful material information, it remains to be seen which way the stock goes this week.
Other tickers that created a buzz in Friday’s market included Norstra Energy Corp. (OTCBB:NORX) who generated significant dollar volume but closed a notch down. Biozoom, Inc. (OTCBB:BIZM) had an unsteady market day and didn’t really manage to recover from Thursday’s momentous dip, despite producing sizable dollar volume.
