While any generation prior to “X” may be totally against any further advances in television entertainment since the introduction of the plasma flat screens, companies are still banking on Internet TV being the way of the future. iMing Corp. (OTC: IMNG) is one such Company who is looking to break into the growing Internet TV and Set-Top Boxes markets to consumers in China. With China hosting the largest population in the world, and one of the sophisticated methods of being able to copy any form of technology presented to it, IMNG stock is seeing some major activity increases this week and should be watched closer whether it be via a computer screen or Web TV service.
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IMNG Stock Chart
Market Cap: 126.51M
Close: 0.76, up 0.12 (18.75%)
Dollar Volume: $297,314
Average Trade Size: 1,939
Issued and Outstanding: 104,800,987
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iMing has some dough and some flow which is always a positive sign. As per their September 30, 2012 financial statement filed with OTCMarkets, Cash was $101,938, Accounts receivable $94,268 and Sales for the three and nine months ended worth $30,910 and $85,903 respectively. While sales are less than half of those for the same periods in 2011, iMing Corp. believes that it will continue to increase its revenues and profitability as it can continue to open offices in densely populated areas.
Financials aside, on August 15, 2012, the Company issued 68.75 million shares of IMNG stock to its President, Mona Woon Yee Yim, for $100,000. So with a float of just over 35 million, the way to play this would be by watching the spread. As many savvy traders know, pinks play for shorter periods normally than those that are fully reporting. Yet with a ton of action loading their boats on IMNG stock Tuesday, the wait for the $1 level seems to be the chatter that many are focused on. If that should happen to come, it would be both a shocker and a result of the supposed $800K hard mailer campaign initiated at the beginning of the month.
About IMNG Stock
iMing Corp is a provider of high-definition web based television and video’s for the Chinese Market with the goal of being a leading provider of set-top boxes in Asia and expanding into North America and Europe.
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Bottom Line: IMNG is another penny stock to add to the Xmas period promotion list. The circulation won’t be coming from email newsletters, but rather from the postman packaged together with the knitted sweater for your cat that your grandma made. At the current price of IMNG stock, the chances of seeing anything better than a 15% gain are as likely as SVEN announcing they produced their first movie made specifically for those with iMing Internet TV serivce.
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