What’s Happening With Immunotech Laboratories, Inc. f/k/a International Technology Systems Inc. (PINK:IMMB)?

The answer to the question is simple: not much. The last time we wrote about Immunotech Laboratories (PINK:IMMB) was back at the beginning of March when there was a promotion running for them. Now there is a new one and that’s why we decided to check on them and see if we will find anything new. First though, we will discuss IMMB‘s situation from nearly two months ago.

If you read through the article, you will find that back then, their latest financial statement was for the year 2009 and we weren’t really happy with the fact that they hadn’t been bothered to file a new report for more than three years. When we received the latest batch of promotional emails from Penny Stock Crowd, Stock Blaster and Surf’s Up Stocks, we thought that they were finally ready with some more up-to-date information. We were wrong.

It’s the same old story – they have been firing up optimistic press releases at a high rate, but at the same time, they can’t sit down for a while and finally come up with a comprehensive quarterly or yearly financial statement.

There are some good news, though. On April 8 IMMB issued the next in a long line of PR’s stating that they have hired a firm that will put together a report for them that will finally get them out of the Pink Limited Information tier on the OTC Markets.

We can imagine that this will take a while since the auditors will need to dig through not one, not two, but three years’ worth of papers before they can come up with something concrete. This means that until they are ready, all predictions of IMMB‘s future success can be classified as nothing more than hopes and dreams. That is why we decided to see if some of their old announcements have come true.

That might just be the case but, then again, IMMB are not exactly willing to discuss it with us. When we wrote about them back in February and March, there was quite a lot of fuss generated from press releases stating that there are some new specialists taking positions in IMMB‘s management team and they also talked about a new facility that will open in Bulgaria.

Now, more than two months later, IMMB have not disclosed anything about the developments around their plans so, for now at least, we can’t really be sure if they are even trying to succeed. We reckon that this is not such a great thing considering the fact that people are contemplating IMMB as a place where they can put their money.

The rest of the announcements that came out during the last couple of months sounded much like the one for the new facilities and, again, until we get some cold-hard facts about serious work being done, we are rather reluctant to call them a long-term investment option.

It would seem that the investors share our opinion and since the last promotion from March 7, IMMB have lost around 67% of their value which, you would agree, is quite a lot for a serious company that is on the verge of discovering a cure for a host of terminal diseases.

In the meantime the emails are flying around and if you decide to trust the pumpers’ judgment and invest without any further due diligence, you might end up losing quite a lot of money. People who went with Penny Stock Crowd’s promises on Punchline Resources Ltd (OTC:PUNL) on April 11 did just that and the charts are here to prove it. That is exactly why you should make sure to weigh your risks carefully before investing in any penny stock, especially if it’s targeted for a promotion and even more so if the management is not willing to discuss the financial situation of their venture.