Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Imogo Mobile Technologies Corp. (OTCQB: IMTC) is a $47-million publicly traded company that has recently run up from $.15 a share to a high of $.838 solely because of stock promotion. Investors not yet invested should avoid Imogo Mobile Technologies Corp. at all costs, and anybody currently in the stock should not dither and sell the entirety of their stakes immediately because it is being illegally promoted through spam.
My track record at identifying stocks that are targets of pump and dump schemes speaks for itself.
Imogo is the first, only and best company with all-in-one secure mobile office services and solutions for the hottest trends in today's market: email, cloud computing, mobility, bring your own device (BYOD), smartphones and tablets.
Imogo Mobile Technologies Corp. follows the typical pattern most shells do that end up getting promoted. The share count to me is what is important. After going through the filings, you come to the conclusion that there are 38,500,00 free trading shares.
Most companies that end up being promoted usually tend to have little-to-no trading history. Imogo Mobile Technologies Corp. is the same. Those seed shareholders cannot turn their shares into cash unless there are buyers. This is where they turn to stock promoters. Stock promoters get paid to send out overly bullish professional-type mailers/emails to retail investors to lure them in. Let me show you what I mean:
Imogo Mobile Technologies Corp. Trading History
You can see that Imogo Mobile Technologies Corp. didn't start trading bigger volume until the end of January 2014.
The Imogo Mobile Technologies Corp. promotional landing page went up January 27, 2013, with a disclosed budget of $3,000,000? Coincidence? Absolutely not.
"Fenvo Enterprises Limited paid three million dollars to marketing vendors to pay for all the costs of creating and distributing this Advertisement, including printing and postage, in an effort to build investor and market awareness. If successful, the Advertisement will increase investor and market awareness, which may result in increased numbers of shareholders owning and trading the common stock of Imogo Mobile Technologies increased trading volumes, and possibly increased share price of the common stock of Imogo Mobile Technologies. "
Stock Castle's Illegal Spam Promotion
Spam is defined as irrelevant or inappropriate messages sent on the Internet to a large number of recipients. I have never opted in to receive Stock Castle emails. They continue to send anyway. I have experience with Stock Castle. I wrote a report on one of their past plays here.
Striking Similarity to Their Last Play
Stock Castle's last promotion was Nevada Gold Corp. It was promoted 6 days via hardmailer before Stock Castle sent out a single email. On the 6th day it dumped. Then, Stock Castle sent out emails.
Imogo Mobile Technologies Corp has been the same story. It was promoted via hard mailer imtcreport.com. It dumped on the 6th day and then Stock Castle started sending out illegal spam on it.
Stock Castle's Promotion History
% Drop Since (To Low)
?? My guess 90%+ when the promotion is over
.59 Halted by SEC
Recent SEC Halts
The SEC is finally cracking down on pump and dumps lately. Here is a list of big stock promotions that have been halted recently. I believe Imogo Mobile Technologies Corp. has a chance to be next because it is a illegal spam stock promotion. There is also increased chance of a halt because Stock Castle's last promotion Nevada Gold Corp was halted as well. Stocks that get halted tend to reopen 2 weeks later down 70%+. Makism 3D Corp was halted the next day after my report was published. The same thing happened with my Life Stem Genetics Inc. report. January we have not had any big halts, but that does not mean it can't happen.
- Makism 3D Corp. (OTCPK:MDDD) halted December 6, 2013
- Guar Global Ltd. (OTC:GGBL) halted December 6, 2013
- Nevada Gold Corp. (OTC:NVGC) halted November 27, 2013
- Life Stem Genetics Inc. (OTC:LIFS) halted November 25, 2013
- Sovereign Lithium (OTC:SLCO) halted November 15, 2013
GET OUT NOW
We have no doubt that this company is pulling the wool over investors' eyes. If you are long the stock, we emphatically urge you to get out. Do not dither, do not hope that you can offload your shares to a greater fool. Simply sell your shares. Stock Castle's past promotions are all down 90% since their promotional stock highs. Imogo Mobile Technologies Corp. will follow the same pattern when it starts to dump. For speculative investors, if you can secure a borrow, then this represents an excellent opportunity with downside of 100% with minimal risk. I shorted Nevada Gold (Stock Castle's last promotion) and made 2.5k see here.
Disclosure: I am short IMTC. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.