Almost as quietly as the penny stock of Med-Cannabis Pharma, Inc. (MCPI) began its ascent to above $1 after our coverage began at 0.15 back in June, another marijuana focused ticker is starting to show signs of life that is causing traders to take notice. Infinex Ventures, Inc. (INFX), who announced in late May their plan to acquire Marijuana Funding, Inc., pulled off a significant feat on Wednesday after shares of the pinksheet listed company gained over 112% on the session despite dollar volume being just $16,427. Seeing as how many cannabis related stocks are beginning to rejuvenate as the summer slowly comes to an end, the access to over $100 million in funding to put towards projects looking to expand into the Pot Industry almost forces INFX stock onto the watch list.
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INFX Stock Quote
Market Cap: 8.31M
Last: 0.035 ▼ -0.002 (-5.41%)
Dollar Volume: $6,296
14-Day RSI: 76.98%
1st Resistance Point: 0.0397
1st Support Level: 0.0327
52Wk High: 0.125
52Wk Low: 0.008
Infinex Ventures is about as diversified a holding company as one can stumble across on the OTC markets in terms of having a broad base of investments in their portfolio to put up the numbers that they reported to have done on their most recent interim financial update. In April, the Company published three financial reports, with a fourth one in May, to bring themselves current whereby they were claiming to have booked revenues of $0 for the years ended December 31, 2012 and 2013, but suddenly showed sales of $106,975 for the 4 months ended April 30, 2014 and cash of $49,209.
From a look on the Inifinex Ventures website, apparently their sudden asset holdings stem from CITECH, a cable TV equipment service company, Gold Mining USA which apparently has a gold mine valued at over $10 million, S7 Cable Services, a company that has plans to build a network of cable companies across the US, and Wiggle Room Advertising App, an add on feature that advertisers will be able to option for their ads. None of these investments made headline news considering the Company had $0 assets for the years ended December 31, 2012 and 2013, but when they agreed to acquire Marijuana Funding, Inc. roughly 2 weeks after their most recent financial update, this became the deciding factor to putting INFX stock on the map.
INFX shares actually began to trade just prior to the start of April with only a couple of sessions where volume was of any significance. Shortly after the announcement that Infinex was negotiating to acquire, and then subsequently announced the actual acquisition, INFX stock saw 2 sessions at the end of May and beginning of June where shares got dumped into volume of over 5 million.
Looking at Marijuana Funding’s website, it’s about as good as any other 5-minute website put together for the purposes of simply moving some shares. If a person was interested in getting a piece of the over $100 million in funding that is “privately held” so as to provide a complete solution to their potential clients, all they would have to do is simply download the Freddie Mac (FMCC) “Uniform Residential Loan Application” that the Company cleverly uploaded onto their site so that recreational and medicinal marijuana vendors/growers can expand their business with warehouses, equipment and rental properties for as low as 7.99%.
Despite what looks to be a typical dog and pony show in terms of financial capabilities to produce what is offered, INFX stock is having an amazing, yet under the radar, week having begun at just 0.0141. With volume as low as it is and the short history of INFX pretty much indicating that PR’s being issued is a dumpfest for whoever is pulling the strings, the current, slow climb upwards is looking like a better gamble than a Vegas slot machine for those with a $100 worth of coins to blow.
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About INFX Stock
Infinex Ventures is a development stage holdings company that is focused on finding companies with tremendous growth potential.
Issued and Outstanding: 224,511,295
Last 5 Trading Sessions:
After seeing MCPI stock slowly climb from 0.15ish to bursting past $1 yesterday, marijuana focused penny stocks INFX are going to have to continue to be monitored by traders looking for that 500% win. With summer ending and the next season of promos about to kick off soon, seeing INFX stock alerts hitting inboxes across the globe in the coming weeks looks to be a given.