With iPad maker Apple (NASDAQ: APPL) announcing last week to spend its $10 Billion cash surplus on buying back shares and issuing a dividend to shareholders, it was only a matter of time for accessory makers for the iPad began to recognize a trickle down effect. Shares in penny stock Domark International Inc. (OTCBB: DOMK.OB) are up 16.30% at $1.57 after the company announced demand for their iPad accessories are surging.
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DOMK formed a wholly owned subsidiary, Solawerks, Inc., which is focused on developing and distributing its Solapad, a combined cover and charging system for the iPad. DOMK is also developing a space age “hard rubber” version of its Solapad so that the fragile iPad can be used in rugged environments.
DOMK saw a 52-week high just two weeks ago when the penny stock reached $2.00 on March 15, 2012. DOMK shares had been relatively stagnant with a 10-Day Average Volume of 439,118. At present, 223 trades have been executed worth $605,922 of DOMK on volume of 404,605 shares.
DOMK‘s Market Capitalization is $50.07 Million and there are currently 37.09 Million Shares Outstanding. From a technical perspective, RSI and MACD on hot penny stock DOMK are extremely bullish.
DOMK received a notice form the SEC regarding its filing of the fiscal year ended May 31, 2010. The most recent 10Q filed for the quarter ended November 30, 2011 reports that DOMK has not recorded any revenue since inception in October, 2009.