The penny stock of InoLife Technologies, Inc. (INOL) had its largest volume trading session of 2013 on Wednesday and looks poised to break that record come Thursday. Closing at 0.15, INOL stock also had its 3rd consecutive trading session without any breaks which is another indicator as for why it should be watched pre-market tomorrow. Although there was no money in the bank or any revenues booked per their most recent Q filing, the prospects of their medical DNA testing technologies could be worth watching.
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INOL Stock Quote
Market Cap: 9.01M
Last: 0.15 ▼ -0.051 (-25.37%)
Issued and Outstanding: 60,040,492
1st Resistance Point: 0.184
2nd Resistance Point: 0.218
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Nearly 2 years ago. InoLife Technologies acquired Stemtide, Inc. in exchange for 50,000,000 shares of INOL stock. Contingent in the acquisition was that the Company record residual payments of 10% of the gross profits derived from the sale of Stemtide Inc.’s Age-Reversing Products since the principal asset of Stemtide was the manufacturing and marketing rights to the Stemtide Age-Reversing Products, throughout the United States.
Valued at $627,000 based on the Company assuming $572,000 of accounts payable and issuing 50,000,000 shares of common stock valued at $55,000, InoLife has yet to make anything happen in the form of ROI from the acquisition.
One person who appeared at first to see some ROI is Robin W. Hunt who received 27,450,980 shares of INOL stock at a price of $0.0025 via an S8 registration statement with the SEC. The $70,000 worth of INOL shares was issued to pay back consulting services Hunt performed. Word is that Hunt did not begin to sell his shares of INOL stock until mid-September 2012 and had completely liquidated his position by October of 2012.
Liquidated or not, INOL stock reverse split 1-for-50,000 back on January 24, 2013. That being the case, Hunt would only have 549 shares today which is worth a heck of alot less than $70,000. Another 6 million shares were just recently registered via an S8 filing which are not effected by January’s reverse split.
Regardless, anti-aging technologies is not the primary focus of the Company (as per their website). What they are focusing on is making money on baby-daddy testing by way of their Plavix® DNA Test. A quick swab of the inside of the mouth with the EasyCollect system and its just a matter of time before you find out if your on the hook for tuition fees or off to the golf course with a new set of tees.
About INOL Stock
InoLife Technologies, Inc. is a development stage company which engages in the identification, manufacture, and marketing of healthcare products and services.
Last 4 Trading Sessions:
Since INOL has virtually no trading history for this year, it should be on the list of penny stocks to watch for Thursday. As could be seen today, volume levels are not what they were a month ago so seeing INOL stock run through early Friday and maybe even into next week is not out of the question since its so fresh.
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