StockMister Picks A New Target For A Pump – IceWEB, Inc. (OTC:IWEB)
Imagine our surprise yesterday when we found the familiar face of IceWEB, Inc. (OTC:IWEB) among the daily promotions. We hadn’t seen them since their last pump campaign back in February.
The emails we received weren’t as numerous as for some other pumps but their effectiveness was enough to help the stock close at 0.042 – an increase of more than 27%. And while 27% are quite respectable, what was even more astounding was the daily traded volume reaching more than 33 million shares. Just for comparison, on the previous session only 1 million shares changed hands.
This time around, StockMister decided to diverge from their usual role of stock promotion and try their hand at being the paying party. TheStockPsycho, also sending alerts as DarthTrader, received the substantial sum of $165 000 for his pump activities. It is not unreasonable to say, that StockMister must be expecting even bigger returns if they are willing to spend so much. The profits are more than likely going to come from the unfortunate investors who took their bait.
Lets turn our gaze for a moment towards IceWEB, Inc. They recently filed their 10-Q report for the period ending
December 31:
- $81 thousand cash
- $1.7 mil total assets
- $ 3.4 mil total liabilitie
- $313 thousand revenue
- $740 thousand net loss
IceWEB also disclosed a working capital deficit of $2,270,876 and an accumulated deficit of $41,604,253. The company is visibly trying to turn a profit but overcoming the staggering deficit won’t be an easy task.
Reading through their press releases we found that some hope still remains. On March 27 a repeat order for data storage to be deployed in the United Kingdom was announced. Just 4 days later more big news came – an order from a USA county government for a complex IceWEB storage installation valued at $295,830 was received. If this is indeed so, it should be a real boost for the company as government entities usually do excessive research before committing to deals.