Traders could be in for some “Déjà vu” of VLNX when alerts start flying for Global Karaoke Network Inc. (GKNI), the 9th most traded OTC stock Friday. With real, fake, and even real fake alerts flying out with the AwesomePennyStocks affiliates name attached to them, GKNI is set up nicely for one of them after $1,226,823 traded Friday to bring the share price below a dime.
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GKNI Stock Chart
Close: 0.09, down 0.01 (10.00%)
Volume: 8,694,815
High: 0.161
Trades: 402
Average Trade Size: 21,628
Forward Stock Split: 90-for-1 August 11, 2011
Authorized: 1,000,000,000
Outstanding: 469,440,000 as of May 21, 2012
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Just like the Vision Plasma Systems (VLNX) scandal, Bryan Clark, Esq. of Cane Clark LLP helped to file the S-1 for Republik Media and Entertainment, Ltd. The Company changed its name to Global Karaoke Network just prior to the forward stock split and right around the time when the Company changed hands from Woo to White To Sadowski.
• On July 12, 2011, David Woo sold his 4,112,000 pre-split shares, 82.82% of the issued and outstanding, to Kenneth Roy White for $17,400.
• On August 11, 2011, the 90-for-1 forward stock split took effect.
• On November 17, 2011, Kenneth Roy White sold the 388,800,000 post-split shares, 82.82% of the issued and outstanding, to Jason Sakowski for $17,400.
So for $17,400, Sadowski now holds $34,992,000 worth of stock in a Company that had $338 in assets as of March 31, 2012. The sky’s the limit I guess since Global Karaoke signed a contract with GT Entertainment Ltd. back in May as the exclusive licensee to operate their online karaoke network at MeAndMic.com. The deal actually called for a revenue sharing agreement with GT Entertainment, Ltd., Martin Fletcher, Mark Watkins and Far East Global Trading Ltd. for an exclusive world-wide license to access, use, market and promote the Internet website MeAndMic.com.
For pumping MeAndMic.com, GT Entertainment got 91,200,000 shares of GKNI stock.
A goal oriented company focused on creating targeted social networking websites, GT Entertainment supposedly spent almost four years developing a versatile social networking platform that would allow for exceptional member tracking, profile development and personalized platform. For heaven’s sake, talk about wasting you time during your entire high school or college attendance.
MeAndMic.com is a place where you can join hundreds of thousands of billions of people for immediate access to online karaoke, using a simple user-friendly platform with access to a wide range of songs for all generations. However, in our search of the tracks and artists available, N.W.A., Kool Mo Dee, Fat Boys, and Beastie Boys were not featured. However, you can sing your heart out to Snoop Dogg’s “Signs” featuring Justin Timberlake.
Signs – This #2Flusher is going to evacuate funds from some dumb believers of a fake APS alert soon to come. Furthermore, If another tone-deaf Filipino even attempts to try to sound like Mariah Carey in the wake of Jessica Sanchez’s American Idol success, I will personally stick my foot in your mouth.
About GKNI Stock
Global Karaoke Network Inc. is a multimedia company specializing in social media music platforms that deliver rich entertainment across a global spectrum of users. The company has developed technologies that includes MeAndMic.com which provides immediate access to online karaoke, using a simple user-friendly platform with access to a wide range of songs for all generations.
The mission – to bring the love of music to the global community, including the drunk and tone-deaf wannabes, while providing people with the ability to share and interact in real-time. MeAndMic.com, a representative for the uber-popular Karaoke World Champions, is building a fan base for its hybrid of live venue competitions matched with the addition of online entries from people who will compete in singing competitions on a global scale.
Click here to view all the SEC filings for GKNI.
Bottom Line: GKNI is on the pre-fake-promotion list of penny stocks to watch. As former Price is Right host Bob Barker used to end all of his game show episodes asking you to spade or neuter your pet to control the pet population, please stuff straws in the coin slots, hide the microphones, or just simply unplug any karaoke machines you come into contact with and help unite the cause to end bad public singing.
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