Pump And News Provide A Good Run For Axxess Pharma, Inc. (OTCMKTS:AXXE)
Axxess Pharma, Inc. (OTCMKTS:AXXE) had a decent run last month, but started March on a bad foot. That was until someone decided that it was time for the stock price to be artificially inflated and we saw the first paid promotional email come in our inbox on March 16.
By today, the total number of pump messages that we have received is estimated at around 45, with promoters of all shapes and sizes bagging compensations ranging from $1500 to $25 thousand for their effort.
The paying party for the promotional campaign is once again Ramos & Ramos LLC and Ramos & Ramos Investments, Inc, who AXXE owed more than $500 thousand and were behind the paid pump from the beginning of the year.
The company is also being active in promoting its stocks and hasn’t stopped issuing optimistic press releases lately, that at first glance might fool you for being the reason behind AXXE‘s recent climb. We can’t say that they didn’t do their part, but the major pump surely did most of the work.
The company had some bold statements that it is expecting to generate $1.5 million in monthly sales with their new aggressive marketing campaign. Such a figure is quite big for a company that had these numbers contained in their quarterly report covering the period ended December 31, 2013.
- cash: $5,114
- total assets: $529 thousand
- current liabilities: $480 thousand
- long-term liabilities: $1.2 million
- quarterly revenues: $2,400
- net loss: $102 thousand
Not to mention the fact that the company announced they to have secured $6 million in annual credit card processing capacity for their product with a website that turns out to be listed in numerous scam transaction website lists and has a very low Web of Trust (WOT) rating.
Furthermore, as the paid promotion is coming to an end we see a serious correction in the price of AXXE since the beginning of today’s session. We might see Friday’s gains obliterated by the end of the day if the dumping doesn’t slow down.
With all these red flags coming one after the other it would be a very good idea to do your due diligence and weigh out the risks if you are even considering of making a play with AXXE.
In the medical cannabis sector Tranzbyte Corp. (OTCMKTS:ERBB) had a decent session before the weekend as it gained 24% on a whopping $16.3 million in dollar volume. Growlife, Inc. (OTCBB:PHOT) and Terra Tech Corp. (OTCMKTS:TRTC) weren’t so fortunate and both tickers slid by 10% each.
