Stock Castle ended its promotion, at least temporarily, after only nine days, encompassing six trading sessions. Perhaps it figured that an early end to the campaign would encourage the SEC to keep its hands off. NVGC and IMTC were suspended after 19 and 17 days of promotion, respectively.
Another possible reason for the abrupt halt to the campaign, could be that Stock Castle got early wind of IGPK's announcement of the termination of its agreement to acquire iComply, LLC, "a business and compliance consulting services company to the medical and retail marijuana market". The actual acquisition announcement ,which may have been intended as a reverse takeover, came only 6 days earlier, obviously intended to coincide with the then two day old Pump & Dump campaign. There was no word on the reason behind the abrupt end to the brief agreement. Perhaps it was because iComply's CEO, Mark Slaugh, didn't warm to the idea of his company being used as fodder for a scheme to defraud the public. Or perhaps Slaugh was in on the scam and agreed to "lend" his company in exchange for some payola. We may never know.
That the IGPK was always intended to be part of a penny stock scam is obvious. According to the company's own financials, it has no assets, no revenues and $34K in liabilities. The liabilities are likely to be a conduit for replenishing whatever stock insiders managed to get off during the pump.
The ticker had undergone numerous name changes and reverse splits since it first came into existence as Posh International in 2003. A 2006 reverse split and name change to Great Lakes Acquisition was followed by years of dormancy, until 2012 when Integrated Parking Solutions was incorporated. How that company came to takeover the Great Lakes ticker is a mystery and that usually suggests a hijacking of the ticker. Integrated Parking became Integrated Cannabis in April of this year.
Omega Energy, LLC, of Louisiana owns the vast majority of IGPK shares.
|Omega Energy, LLC Registration|
Nothing can be found regarding the purported President of IGPK, Alphonse Rojas, except with respect to IGPK itself. That in itself is fishy. You would think that the head of a multi-million dollar public company would have some sort of background. Occasionally, sham companies will concoct an officer.
On the other hand, plenty can be found on Omega Energy Managing Member, Warren Wheeler, who seems to be involved in a number of securities related enterprises. His Ricochet Trading has been involved in a number of penny stock companies; for example, Hybrid Fuels (HRID), which was taken over by him in a custodianship action and then became frequent Pump & Dump subject, Nouveau Pharmaceuticals (NOUV).
One thing does seem certain: the quick about-turn regarding the acquisition of iComply, compounded by Stock Castle's promotion and the SEC's penchant for targeting tickers pretending to be involved in the marijuana industry, is likely to soon send this ticker to the trash heap known as the grey market, after an obligatory 10 day suspension. That suspension could come any day now.