Looking to become part of the multibillion dollar nutritional supplement industry, the penny stock of UMAX Group Corp. (UMAX) got our attention this weekend after ending Friday’s trading session as the 99th most traded OTC ticker. It forced a look at the chart and, although they were an unsuccessful entrant into the arcade business until early September, it looks like UMAX stock had one of the best summers around. However, after looking at what they got and how much really went into getting it going, there isn’t much that screams why $1+ is what a trader is willing to pay for a share.
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UMAX Stock Quote
Market Cap: 111.26M
Friday Close: 1.14 ▲ +0.19 (+20.00%)
Dollar Volume: $283,282
Issued and Outstanding: 97,600,000
14-Day Rel Strength: 52.05%
1st Resistance Point: 1.2367
1st Support Level: 1.0066
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UMAX Group Corp. operates as UMAX Nutrition with 3 products to offer to the public. They can make you hard (if you’re of the male species) with their Uprite XXL, an all natural herbal male enhancement supplement as a safe alternative to prescription erectile dysfunction medication, they can fruit you up with their RASPBERRY KETONE to help your body to burn fat and also sell you Green Coffee Bean Extract which is believed build up antioxidant support as well as regulate glucose levels for healthy blood sugar levels.
Well, let’s just hope that UMAX Nutrition’s jazzy website can attract the paying consumer base who eat this stuff up because their first Q filing has them looking more like a flea market vendor. With sales of just $7,400 which cost $5,634 to produce, it seems the early investors are the one’s who pegged the price correctly and not those buying UMAX stock right now.
On July 30, 2012, UMAX Group completed a 40-for-1 stock split. However, on April 1, 2011, the Company issued 60,000,000 shares of common stock for cash proceeds of $1,500, $0.000025 per share, to its director. Another 120,000,000 shares were issued on April 7, 2011, for cash proceeds of $3,000, $0.000025 per share, to its director. And then, from April 30, 2012 to March 7, 2012, the Company issued 47,600,000 shares of common stock for cash proceeds of $23,800 at $0.0005 per share.
Even though 130,000,000 shares of UMAX stock was cancelled on July 30, 2012, the mere fact that another nutritional wannabe company is out there trading actively well over the $1 level is enough to scare the pants off of you. How this can keep up at these levels with the amount of shares out there is pretty hard to understand.
About UMAX Stock
Umax Group Corp. is a development-stage company formed to develop and distribute our nutritional products to the growing nutritional industry.
Last 5 Trading Sessions:
UMAX announced last week that is readying to launch a multi-dimensional marketing plan which is due to include radio, print, television and internet campaigns focused on developing a weight loss system with a leading physician who specializes in obesity and weight management. If they don’t get on CNN with their products, it’s pretty hard to imagine how UMAX stock can continue to be one of the top 100 penny stocks traded, let alone trade anywhere north of a dime.
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