What subpenny stock has not issued news publicly other than the updates on their website that are 9 months old, has a recent trading history of less than a month and is being promoted by the group that lead all of their followers to be slaughtered last week – TWICE? If you answered Umax Group Corp. (OTC PINK: UMAX) and have hopes that the chart will reverse itself, then perhaps your chances of being right are worth a trip to Vegas. It’s not so much that there is anything worse about UMAX stock than there was with Eagle Oil Holding Company Inc. (EGOH) which pulled their bidder after an hour of traders buying .0001 shares, or worse than Medican Enterprises (MDCN) which had no bidder at all, it’s just that, well, you be the one to decide.
A quick glimpse at what UMAX Group has to offer as a publicly traded company comes first when viewing the company’s corporate website. As if created by a rural Romanian kindergarten class still using a Radio Shack Tandy 1000, the simplicity and “state of the art” low resolution images leads to one simple conclusion – avoid UMAX stock.
Without the ability to judge the book by its cover due to the lack of public communication from the group, “a simple vision and plan” which hopes to “have a diverse portfolio of unique businesses that provide long term growth, financial stability and cutting edge technology that will maximize investor returns” is about as cookie cutter as it comes. When referencing to how the group plans to “offer small to mid-sized businesses a platform in which they can utilize funding for projects in which tradition financial institutions simply will not fund,” either UMAX is aspiring to become a toxic debt financier like Magna Group LLC or Asher Eenterprises, or the $697 the company had on hand on their April 30, 2015 Annual Report (which is actually titled April 30, 2014) has grown exponentially without anyone’s knowledge.
UMAX has however provided some updates on their website which could lead some to believe that they truly are “firm believers that it’s the small profitable projects, funded in equity based financing, can offer tremendous opportunities.” Back in October, 2014, the company mentioned that they were beginning negotiations with UTAH based General Contractor to build Green Homes.
From the looks of the chart, it doesn’t look like anyone is buying into the idea that something more than taking up a space on the OTC is happening here. If, for whatever reason, UMAX stock is one that you decide to chase after when it gaps open today, at the very least you can hope that a bidder remains throughout the session so you can find a way to get out with some form of dignity.
FWIW…. EGOH stock is getting pumped again today. The bidder disappeared after the first hour of trading last week. Will be interesting to see if anyone falls prey to the same game within the span of a week.
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