With social gaming being such a addiction for the U.S. market, what could possibly happen if Viking Investments Group Inc. (VKIN) makes it in China? We could soon see from the Company that has taken 8 years already to figure out a revenue source that would work who looks to follow their predecessor who made some money with their PokerPass.com and their previous Company name, Poker.com, Inc. Considering there are 5X the number of Chinese compared to Americans, VKIN is definitely worth a look.
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VKIN Stock Chart
Market Cap: 3.12M
Close: 0.16, no change
Volume: 0
Dollar Volume: $0
52 Week High: 0.80
52 Week Low: 0.05
Authorized: 100,000,000
Issued and Outstanding: 19,502,974
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Today’s announcement that Viking Investments Group took three months to study their decision to enter the online social gaming market in China likely means they sat around on their thumbs trying to figure out what would be a good story for a pump. “Hmmm, TAGG doing good, PZOO not so good, lets do gaming. Asians love games and the language barrier will eliminate anyone being able to uncover the real numbers.”
Actually, according to Niko Partners, a leader in Asian Games Market Intelligence, the revenue generated by browser-based games in China is expected to expand by over 40% this year alone. The 2011 mainland Chinese online games market size, including Social Networking Services games, was $7.0 billion, up 46% from 2010.
Considering they were basically looking to find companies in China to convert them into publicly listed ones in the United States, perhaps the three leads they had in January, a Beijing client operates over 100 retail stores selling women’s underwear, a Shanghai client, a restaurant and tea house company, which operates close to 130 stores in Shanghai and the Hunan province and a Zhejiang Province client in the apparel business which owns 3 clothing factories, several name brands and operates multiple retail stores in China all lead to the social gaming avenue.
About VKIN Stock
Viking Investments Group, Inc. was originally incorporated under the laws of the State of Florida on May 3, 1989 as Sparta Ventures Corp. and remained inactive until June 27, 1998. The name of the Company was changed to Thermal Ablation Technologies Corporation on October 8, 1998 and then to Poker.com, Inc. on August 10, 1999. On September 15, 2003, the Company changed its name to LegalPlay Entertainment Inc. and on November 8, 2006, the name of the Company was changed to Synthenol Inc.
Effective November 3, 2008, the Company merged with and into a wholly-owned subsidiary, SinoCubate, Inc., which remained the surviving entity of the merger. SinoCubate was formed in the State of Nevada on September 11, 2008. The merger resulted in a change of name of the Company from Synthenol Inc. to SinoCubate, Inc. and a change in the state of incorporation of the Company from Florida to Nevada.
On June 13, 2012, the Company changed its name to Viking Investments Group, Inc. which became effective July 16, 2012 after FINRA approved the name change.
Click here to view the SEC filings for VKIN.
Bottom Line: VKIN is worth adding to the list of penny stocks to watch. If the asks get taken out quickly, VKIN stock price could see a quick run into the 50’s. Tread with caution as their has been little to no volume on the penny stock since it became active in August.
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