Quote: (07-09-2014 10:03 PM)joehoya Wrote:
This sounds like a pump and dump to me.
1) An OTC traded stock.
2) less than 0.02% of the outstanding stock is being traded.
Don't let this The $4 billion valuation fool you. It is the result of only $800,000 worth of stock (57,000 shares out of 290,000,000) being traded. Those same 57,000 shares were worth a grand total of $5,700 back in May.
It is completely conceivable that someone is artificially inflating the stock price based on there own trades and hyping the stock on penny stock forums and via spam email. Even with the BS $4 Billion valuation, the actual CASH moving around this stock is still under a $1 million. If Nigerian 419 scammers can STILL find idiots to give them millions of dollars a year, surely these guys can con a few million dollars for a nonexistent internet company.
This seems to have little to do with the "Tech bubble" and everything to do with people's ease of being scammed when you play on their greed.
What's Jordan Belfort up to these days???