Varca Ventures For Sale At 50% Off
Li-Ion Changes Its Symbol But Not Its Spots
Li-Ion Changes Its Symbol But Not Its Spots
CronyISIM + IllusionISIM = Pump & Dump ISIM
In spite of of BestTopPennyStocks.com's assertions that they "found a new company that has us very excited right now", that warranted "a new alert", there is nothing new about Varca Ventures (VRCV) or their participation in Pump & Dump schemes. In fact, it was BTPS who headed up a group of 6 touts in last December's attempt to allow insiders to cash in at the expense of gullible investors. Back then they wrote,
"VRCV just made a GIGANTIC announcement. We’ve been watching this company for a while now and were planning on bringing it our members very soon… but this news has forced our hand… it’s that big! So start your research right away"Well apparently their members did begin their research and didn't like what they found, because the promotion resulted in $25K in trades, barely enough to cover the cost of the widespread pump. The few buyers who did jump in at the highs, were quickly down as much as 75% as the share prices dipped due south.
Now VRCV will try again, this time offering their intrinsically worthless shares in a clearance sale with better than 50% discounts from the previous offerings.
Yes the company has a little walking around money with $370K in the bank, according to its latest quarterly financials, but it owes $1.4 million. And naturally it has yet to find gold in the mines it recently acquired. No surprise there, as nothing of value has been taken out of the ground at these mines since the early 1900s.
So now VRCV, hopes that since the street found no value in the company at a market cap of $84 million, maybe it will be more sympathetic to the insiders at a $35 million market cap.
We just can't imagine why BTPS had to mislead its subscribers as to the sudden discovery of this company though. Unless it forgot it had already pimped it.
Told you so: Did you listen? We told you in our January 19th alert, that Li-Ion Motors (LIMCOD) was broke and that the Pump & Dump campaign that had just begun was a "last ditch effort to allow insiders to cash in before the company declares itself to be insolvent and/or restructures in such a way as to make the current share valuation essentially worthless". Well guess what: on January 26, the company completed a 1 for 5 reverse split, which means that those bag holders that didn't listen to us on the 19th, now own 20% of the shares they thought they owned. And the company didn't even have the courtesy to tell these people that they had been reversed out. Since no press release was issued, we received several emails from those with buyer's remorse, asking us what happened to their stock. And of course our subscriber list grew.
In the aftermath of the reverse split, the share price has moved in a straight line lower, and those who bought into the campaign, have seen their investment discounted by 50%.
The good news is that LIMOD's market cap has decreased to about $1.3 million, but why would anybody pay that much money for something that is worth zero? Expect massive dilution in short order.
First of all, we would stay away from Insight Management Corp (ISIM) just for the fact that the stock has been the subject of illegal spam email campaigns in the past. This is the most disgusting form of Pumping & Dumping, as it provides for no accountability of the promoter and any company who would participate in such a devious scheme, designed to con that portion of the public who doesn't even subscribe to stock newsletters, is pure trash.
Secondly, ISIM recently "volunteered" to stop reporting to the SEC, never a sign of good intentions, and as a result, was demoted to the pink sheets. We think that the "volunteering" came before the OTC Markets inevitable non-volunteered demotion, as the company was consistently late with its quarterly filings.
In short, we think that ISIM does nothing for a living and its single purpose is to be a vehicle for dumping stock, a scam conspired by its masters. After three years "in business" as a green energy company, there is a mere $30K in the bank and almost $8 million in debt. The company purportedly lost over $5 million last quarter, quite an achievement, since only $63K in revenues was generated. Furthermore, dilution is rampant. Following last year's 1 for 1000 reverse split, there are now again at least 160 million shares issued and outstanding, giving this sinkhole of a company, a market cap of over $3 million. Although there are only 5.7 million shares last reported in the float, many of the restricted shares have just become free trading and are the prelude to this Pump & Dump campaign. Watch out!!!
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