Shares of Penny Stock BillMyParents Inc. (PINK: BMPI) exploded on November 27 after the Company put out an 8k announcing a promotion and endorsement agreement with the pop superstar Justin Bieber.
The 8k States Exactly:
"On November 20, 2012 (the "Effective Date"), BillMyParents, Inc. (the "Company") entered into a Promotion/Endorsement Agreement (the "Agreement") with Justin Bieber Brands, LLC, pursuant to which Justin Bieber Brands, LLC will promote and endorse the Company's products through various media set forth in the Agreement (the "Services"). Services include the approved use of Justin Bieber's likeness and image, and promotion of the Company's products across social media, including postings on Facebook, Twitter and Instagram, videos, voicemail and e-mail messages from Justin Bieber to Company cardholders, and other cardholder experiences. The Agreement commences upon the Effective Date and shall have a term of fourteen (14) months (the "Term"), unless extended as provided in the Agreement."
In exchange Justin Bieber will be paid a cash fee for every new account the company receives as well as several disbursements of BMPI warrants to purchase several million shares of BMPI stock.
BillMyParents, Inc. the Responsible Teen Spending Company, offers a solution for parents who want to help their teens develop smart spending habits. The BillMyParents SpendSmart MasterCard card is the instantly trackable, reloadable MasterCard prepaid card that lets parents and teens track spending in real time.
Features include the ability to instantly lock, unlock and reload the card at any time; text alerts to parents and teens showing real-time transaction details with each purchase; and the freedom and security of a MasterCard prepaid card without the risk of overdrafts, accruing debt or affecting credit scores. BillMyParents provides parents with a modern way to help teach their teens financial responsibility, when it counts
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.