Only 16,500 shares traded on Monday’s penny stock trading session of Imogo Mobile Technologies Corp. (IMTC) but that could change Tuesday. Just after the closing bell, the Company announced that it entered into a strategic alliance with Newgen Software Technologies Ltd, software service provider, whereby Newgen will develop mobile applications software for Imogo. Apps have been very attractive short-term news catalysts for penny stocks and these are said to be developed for a variety of specialty markets including utilities, oil and gas, infrastructure and green initiatives.
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Two weeks ago, Imogo announced the launch of its new cloud-hosted ZaOffice™ suite of applications for business and personal Tablet computer users. ZaOffice provides Tablet users with secure anytime, anywhere, any-device convenience for a range of innovative applications including Click-to-Call and Click-to-Fax, all done over the Internet. This should be a huge producer since the China based company had $0 cash and $0 revenues as reported in their most recent 10-Q for the three months ended February 29, 2012.
About IMTC Stock
Imogo Mobile Technologies Corp. is an innovative provider of cloud computing solutions for organizations seeking to securely integrate mobile devices such as tablets and smart phones into their enterprise ecosystem while increasing productivity and lowering their IT costs. The Company’s solutions, including a private cloud portal, enable mission critical business units to connect, collaborate and communicate around the globe. The personal private cloud platform and application services include: High quality digital telephony for PC’s and tablets, hosted exchange and unified messaging, hosted terminal services, and off-site secure data storage and backup services.
Click here to view the SEC filings for IMTC.
Bottom Line: There were “89, 900, 0000” shares outstanding as of February 29, 2012 on the penny stock, IMTC. No, that’s not a typo, that 89.90 million is exactly the way the company reported it on their 10-Q. So, with the Company’s ZaOffice now available for a retail price of $9.95 per month, perhaps they can hire an accountant who proof reads SEC filings. IMTC stock is a #2Flusher and should be avoided at all costs.
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