Umax Group Corp (OTCBB:UMAX) Becomes Volatile Once More

After nearly a month of stabilization around the $1.15 mark the stock of Umax Group Corp (OTCBB:UMAX) started dropping down once again on Friday. The stock wiped more than 16% of its value and found itself trading for less than a dollar. UMAX plummeted to a low of 75 cents right from the open then quickly recovered and at closing time were sitting at $0.958. The 282 thousand traded shares were almost a record for the company with only one session registering higher amounts.

The company describes itself as a nutraceutical corporation but for now they have very limited operations. Taking a quick look at their official site reveals that they offer only three products – Green Coffee Bean Extract, Raspberry Ketone and Upright XXL, which is a herbal male enhancement supplement. The last financial report filed by them covers the quarter ending July 31 and shows some rather dismal figures:

• $8,526 cash
• $10 thousand total assets
• $28 thousand current liabilities
• $7 thousand revenue
• $19 thousand net loss

Unless UMAX has managed to drastically expand its sales its current market prices are still grossly disjointed from the reality of the company. Not to mention their market cap of $93 million for a company with 10 thousand in assets.

Most of the 97 million outstanding shares are owned by insiders of the company who bought them at extremely cheap prices of $0.000025 and $0.0005 after the 40-for-1 forward split UMAX executed in July last year.

With all the red flags around them and the possibility of even harsher correction UMAX requires doing you own due diligence before attempting any trades. At the same time the momentum behind the stock of Nutranomics, Inc. f/k/a Buka Ventures Inc (OTCBB:NNRX) managed to push them even higher reaching $1.23 per share at the end of Friday’s session. After losing more than 60% of its price in just three days the stock of Makism 3D Corp (OTCBB:MDDD) recovered somewhat and finished the week at $0.60 per share. Since December 4 there have been no new alert emails touting the company meaning that the pumpers have moved on to find new targets.