It’s been over a year since the twice heavily promoted penny stock of Independence Energy Corp. (IDNG) made any rumblings worth noting. Doomed for subpenny land after their inaugural pumping in Spring ’12, IDNG stock saw a resurgence last spring, running from 0.003 to as high as 0.04 in a matter of days before returning back to below 0.01 once again. Now that Money Runners has chosen it as their new ride to copperland, the no longer energy focused company which has switched over into the medical device industry with their Thermofinder, a medical grade non-contact thermometer, could really begin to heat up.
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IDNG Stock Quote
Market Cap: 1.73M
Last: 0.0050 ▲ +0.0015 (+42.86%)
Volume: 38,291,135
Dollar Volume: $180,050
Open: 0.0035
High: 0.006
Low: 0.003
Trades: 327
14-Day RSI: 68.28%
1st Resistance Point: 0.0063
1st Support Level: 0.0033
52Wk High: 0.0125
52Wk Low: 0.002
Many traders who have been around for a few years remember very well when IDNG stock first hit the OTC Markets. The ticker was introduced in late February, 2012 and ran for over 900% before collapsing into their 5 for 1 split at the end of June, 2012. Now that Independence Energy Corp. is determined to focus their operations on the development of a medical device distribution business, the chances of IDNG stock resurrecting itself once again into the “above 0.01” range is a highly likely probability.
As most OTC listed fronts have done after their initial money grab, Independence Energy invited or accepted the offer, 6 of one, half a dozen of the other, from Europa Capital AG and Asher Enterprises Inc. to loan them money they would likely not use to fund their operations. In return, Europa Capital AG got shares at $0.01 for their $46,000 loaned, while Asher Enterprises got a much better deal for their $57,000: convertible at a rate of 58% of the market price on any conversion date, any time after 180 days from July 15, 2013 which, subsequent to January 31, 2014, all remaining principal and accrued interest in respect of the convertible promissory note was converted into shares of IDNG stock.
Now that IDNG stock is more or less fully diluted after the Company issued 152,172,287 shares of IDNG stock to 4 designees of American Medical Distributors, LLC for the rights to distribute their Thermofinder FS-700 and FS-700 Pro, a medical grade non-contact thermometer that is currently approved and distributed in Asia and Europe, a PR from Independence Energy would be appropriate. It’s not that the thermometer market around the globe is abooming new industry that could easily take flight and cause IDNG stock to quadruple from 0.005, but it would be a very strong catalyst for those who jumped at the opportunity on Tuesday to get on the newest Money Runners pick since Baristas Coffee Company Inc. (BCCI) blew its load after the March surge and subsequent April run.
The 2 versions of the Thermofinder have the ability to read body temperature and surface/ambience modes which allows the reading of air temperature and fluid temperature (bath water, baby’s bottles) and, due to it’s non-invasive design, can be operated by pointing and pressing within 3-5 centimeters of the patient’s forehead or other target. This could be a good indicator that IDNG stock could have a run for the next 3-5 trading sessions, especially if we hear something publicly from CEO and Director, Howard J. Taylor, about the new direction of Independence Energy.
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About IDNG Stock
Independence Energy Corp., after entering into and closing an asset purchase agreement with American Medical Distributors, LLC on March 31, 2014, is a development stage company in the medical device business with the exclusive right to distribute in the Americas certain professional and consumer grade non-contact thermometers known as the Thermofinder FS-700 Pro and FS-700 (retail version), and any future versions.
Click here to view the SEC filings for IDNG.
Click here to view the website for Independence Energy Corp.
Authorized: 375,000,000
Issued and Outstanding: 345,188,164
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Change | Volume |
| 05/06/14 | 0.0035 | 0.0060 | 0.0030 | 0.0050 | +0.0015 | +42.86% | 38,291,102 |
| 05/05/14 | 0.0028 | 0.0035 | 0.0026 | 0.0035 | +0.0003 | +9.38% | 7,169,000 |
| 05/02/14 | 0.0032 | 0.0032 | 0.0028 | 0.0032 | unch | unch | 1,109,000 |
| 05/01/14 | 0.0032 | 0.0032 | 0.0032 | 0.0032 | unch | unch | 30,000 |
| 04/30/14 | 0.0030 | 0.0034 | 0.0025 | 0.0032 | -0.0002 | -5.88% | 1,764,300 |
Bottom Line:
Money Runners has had great success with their penny stock picks of the past and, in light of IDNG having been detoxified already by having issued to Asher Enterprises all of the shares they were due to receive. Hoping for the best in terms of Asher Enterprises having dumped all their shares already, IDNG stock needs to break and close above their 0.0063 resistance point before it can even be considered a candidate to return to copper land in the coming days.
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