What an insane week it’s been for the supposed to have been amazing penny stock of Pingify International Inc. (PGFY). Leaked out via Facebook on Friday, confirmed on Sunday by emails from StockTips’ Mike Statler, denounced by the CEO to have had any affiliation with any promotional campaign after Monday’s session, declared a pump and dump scheme by the CFO himself in his resignation letter on Tuesday, the soap opera of a week PGFY stock has been surrounded by has been one for the record books. Being that we called it right for those who missed day one when we said “waiting it out for the big, crushing dip is the best plan,” the bounce back today is “Oscar winning” when considering all the public whining that’s been going on.
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PGFY Stock Quote
Market Cap: 33.01M
Last: 0.66 ▲ +0.31 (+88.57%)
Dollar Volume: $2,813,643
14-Day RSI: 50.90%
1st Resistance Point: 0.8117
1st Support Level: 0.4517
52Wk High: 1.74
52Wk Low: 0.195
Mike Statler, although it is a fictitious name, is already a household word in the penny stock community due to the direct marketing campaigns of StockTips.com which, coincidentally, just happened to pop up on the internet world just around the time that Awesome Penny Stocks saw their nails getting hammered into their coffins. With all the hype that was leading up to their active pick, PGFY, no one in their right minds would have ever thought that school playground type of drama that unfolded between Pingify International and their CFO, Vlad Milutin would have ever surfaced since they were expected to have been in the loop that PGFY stock was nothing more than a pump and dump.
The first stage of the collapse came very similarly to how APS deals used to survive after. One very boisterous Canadian that is well known in the big budget promotional game made sure that the British Columbia Securities Commission was made aware of the promotional activity taking place on PGFY. The result was a “skull & crossbones”, aka caveat emptor, designation being issued to the ticker symbol at the close of trading on Monday (exactly what would occur to nearly all of the APS pump and dumps).
The rebuttal was an acknowledgement from Pingify International CEO and President, Jason Gray, stating that, not only did they not authorize or participate in the promotional campaign in any way and do not endorse it, but also that they only became aware of it when the British Columbia Securities Authorities notified them. This must be the most preposterously lame response since it was quite obvious when 25,000,000 shares, 49.9% of the issued and outstanding, were sold for $0.005/share when they filed their S-1.
That alone was enough to choke PGFY stock on day 2 to ensure that the shorts could not only come in and crush any longs, but they could virtually rip their hearts from their chests and force them to watch while they chewed it up and spit it out. But no, instead, the recently resigned CFO of Pingify International, Vlad Mulitin, who most definitely was aware that 49.9% of their company was sold for $0.005/share, publicly issued his own, embarrassing rejection of being involved any further and how “the exposure of thousands of investors to great losses is too much for me to bear.”
Grow a pair Vlad – you knew this was what PGFY was all about. If you didn’t, you have no right being the CFO of a publicly traded Company, or any company for that matter, since it is the CFO who is responsible for all financial dealings of the company – period.
To make matters worse, Vlad tried to throw Mike Statler and StockTips.com under the bus in his publicly circulated resignation letter, while Gray admitted how “extremely proud of the technology we have developed” he is on behalf of Pingify International. However, PGFY skyrocketed today, although the volume was a mere fraction compared to Monday, which leads many to believe all of this has been nothing more than a ploy to both keep PGFY from being halted and to praise StockTips which, deny it if you want to, brought 2 insane opportunities, the pre-promo leak (that we called a week in advance) as well as the huge bounce which came today (which we said was coming, aka the big, crushing dip).
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About PGFY Stock
Pingify International, Inc. is a software technology start-up company focused on the development of computer software solutions.
Issued and Outstanding: 50,100,000
Last 5 Trading Sessions:
The disclaimer on the OTCMarkets website states no where that in order to successfully win at playing penny stocks, especially these massive promotions that are manipulated like Sesame Street caricatures, does one need to bring his/her own steel balls to the table. PGFY has been as much heroic as it has been horrific and we’re still not even through the first week. With Friday sure to be a knockdown, dragout fight between believers and their short counterparts, holding on to PGFY stock through the weekend is going to take brass balls.