At the end of March while everyone was engulfed in the Awesome Penny Stocks promotion of SNPK, we covered an unknown company that has been banking in quarterly revenues equal to an APS dollar volume promo. Great China Mania Holdings Inc. (GMEC) had a huge spike in volume yesterday and just announced that their new mobile application, “IDOL”, will be launched in September 2012. GMEC stock officially goes on to the list of penny stocks to watch as it has the three factors we look for.
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According to the news from china, “IDOL” is a mobile application that bundles a mobile social network with celebrity and artist concepts by providing a collection of artist photo albums. Users will have the ability to exchange photos of their favorite artists over the network and to collect a series of photos for incentives provided by the operators. Sounds kinda weak if you’re a yank but the Asians go nuts over their pop idols.
GMEC Stock Details
Yesterday, GMEC had 176,500 shares traded. Sounds small, but that was the first trade, other than 300 shares that traded on June 25th, since June 7th. Not only did the penny stock gap down from 0.40 to 0.17, but it was enough to cause for more due diligence on the Company that reported $1,454,156 in revenues for the three months ended March 31, 2012 compared to $878,853 for the same period in 2011.
Shares Authorized: 375,000,000
Shares Outstanding: 69,676,000 as of May 14, 2012
Float: 15,167,300 as of April 25, 2012
As of December 31, 2011, there was 28,366,000 shares outstanding. During the three months ended March 31, 2012, more than double that amount was issued at less then 0.02 per share.
• On January 19, 28,500,000 shares were issued for additional working capital to a major shareholder who is an affiliate of the Company for $519,200, 0.0183 per share.
• On January 26, 9,410,000 shares were issued to 3 non affiliate individuals for settlement of short term borrowings totaling of $149,450, 0.0159 per share.
• On March 20, 3,400,000 shares were issued to a non affiliate individual for settlement of short term borrowings totaling $56,592, 0.0166 per share.
The three factors are all here for GMEC to be a massive penny stock promotion: hype, share structure, revenues. So don’t be a slant eye and overlook this, get GMEC on your list of penny stocks to watch immediately.
About GMEC Stock
Great China Mania Holdings Inc. is an electronic content provider that creates and provides leisure and lifestyle-related electronic content to Hong Kong, Macau and China. The Company groups these contents into different electronic magazines according to the content theme and distribute them to various targeted customers through different channels utilizing these electronic contents to produce traditional paper magazines as well. The Company also operates an artist management company, which enhances their ability to create and provide electronic content by leveraging the popularity and publicity of artists and celebrities in creating stories and events. Since a substantial portion of GMEC‘s electronic content is related to computer technology and video games, the Company also operates two computer and video game retail stores to enhance our ability to access to the most updated market segment.
Click here to view the SEC filings for GMEC.
Bottom Line: GMEC is officially on the list of pre-promotion penny stocks to watch. Could GMEC be one of the Awesome Penny Stocks? I thas the share structure, it’s just been lowered to under 0.25 as they promised it would be, and it has a trading history with an average of roughly 40,000 shares daily from mid-May to early-June. That will be important since APS is on the FINRA radar now after SNPK.
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