Bye-Bye Pinksheets, hello OTCQX. Yippy Inc. (Pinksheets: YIPI) stock will begin trading on the quality-controlled OTCQX® U.S. trading platform tomorrow. The providers of the world’s fastest, family friendly search engine and web portal announced today that its common stock will be transitioning from the OTC Pink tier distinguishing Yippy and its ongoing commitment to achieve the highest quality standards possible. YIPI stock closed at $0.50, up 8.70%, on volume of 53,301 shares. Volume and share price in the penny stock YIPI should increase now that they are leaving the Pinksheets.
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YIPI Stock Chart
Shares Outstanding: 53,239,876
Authorized Shares: 75,000,000
Yesterday, Yippy reported an updated financial position for the period ended February 29, 2012. What we found was that on December 5, 2011, Yippy declared a 2:1 forward stock split.
Also, they are booking revenues; $16,627 for the three months ended February 29, 2012 compared to $9,361 for the same period the year before. For the fiscal nine months, Yippy has booked $65,714 in revenues with operating expenses of $332,933 and $2,128,486 for the three and nine months ended February 29, 2012 respectively.
About YIPI Stock
Cinnabar Ventures Inc. was incorporated in Nevada on May 24, 2006. Yippy, Inc. was incorporated in Delaware on October 6, 2009, and was renamed Yippy Soft, Inc. on April 23, 2010. On January 26, 2010, Cinnabar acquired Yippy for 2.34 million common shares. Cinnabar was been renamed Yippy, Inc. effective April 15, 2010.
Yippy provides secure family friendly online web destinations and services such as search, browser, email, cloud applications and storage to family PC’s, learning institutions and libraries.
To view the financial filings for YIPI, click here.
Bottom Line: YIPI stock is out of the sewage system of penny stocks now by leaving the Pinksheets exchange for the OTCQX. The company is still wet behind the ears in the business world and will take a few years possibly to turn a profit. That said, it is a positive move uplisting and investor confidence should grow in tandem with YIPI PPS.
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