SK3 Corporation (PINK:SKTO) Boosted by 50%

When the sum of all fears did not materialize and SK3 Corporation (PINK:SKTO) stayed relatively stable on a long period of selling, the bounce by 50% in one trading day seems like a long-awaited refreshment. The medical marijuana industry is still hot enough to deliver noticeable movement, and SKTO is riding the tide even without additional promotional efforts. This company is a relative newcomer to the medical cannabis boom, and has managed to rise significantly just due to its initial impact.

SKTO may have reacted to the positive development in the stock of Medical Marijuana, Inc. (OTC:MJNA), which also spiked tentatively on buying, adding 15% to its price. But MJNA had the boost from record revenue news, while SKTO so far has modest achievements:

• $191 current assets
• $230, 960 total liabilities
• $344,808 net loss 

In addition, SKTO still bears a skull and bones warning for an unknown trespass among many, such as incomplete information or aggressive spamming for promotion. Still, the last emailed promotion for SKTO came back on March 11th, a certain sign that the pumpers may have abandoned this pink sheet altogether.

The promise of SKTO hinges on its new subsidiary, Medicalgreens.com. A message from the director on the start page of the website mentions that SKTO has already contacted medical organizations and other business entities for the distribution of its marijuana products. The company claims it secured contracts worth $30 million for 2013.

But despite the encouraging message from director Kevin Allyn, the links to the company’s services are still in development, and the year is already a third over. So time will show if SKTO will hang on among the better contenders or will slide into obscurity.

Among the penny stock companies that decided only at the last moment that medical marijuana will be their forte is Neutra, Corp. (OTC:NTRR). But after the initial splash, NTRR went on to slide by 50% in a few short days, still trading amazingly high at $1.99 for a company that is new to the business and has very little resources and longer-term promise.