Earnings: Sunpeaks Ventures (SNPK) Actually Sold Clotamin?

Don’t believe the hype! It was a hit for Chuck D and Flava Flav of Public Enemy in the 90’s and it holds true still. Sunpeaks Ventures Inc. (OTC: SNPK) (currently SNPKE) filed their 10-Q in an effort to comply with SEC regulations and remove the “E” from their ticker symbol. They actually sold Clotamin? . SNPKE is currently trading at 0.08, down $2.32 from their pump and dump high, on volume of way too much to imagine. If you had SNPK shares and didn’t sell before the dump, then you obviously didn’t pay attention to our warnings.

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SNPKE Stock Chart

Sunpeaks Ventures’ wholly owned subsidiary Healthcare Distribution Specialists LLC was supposed to take the shell corporation of HDS International (HDSI). In any case, Sunpeaks Ventures finally filed their 10-Q for Q1 (the period ended March 31, 2012).

Revenues for Q1, 2012 were $478,174, compared to $23,599 for Q1, 2011. Revenues were generated solely from the wholesale distribution of over the counter drugs, and sales of Clotamin. The end result was a reported operating loss of $219,731 for the three months ended March 31, 2012.

Click here to view the actual 10-Q filed.

Bottom Line: Keep SNPK off your list of penny stocks for the foreseeable future.

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