Remember back in the day how GoDaddy launched themselves into the internet galaxy by carpet bombing their commercials on all of the sports channels making America fall in love with Ali Landry? Well, a new start-up Company which has a bit of swagger to it, GankIt Corporation (GANK), is looking to do something similar in order to draw attention to their “Gankster” style online auction site. After announcing plans to increase their membership base to 500,000 members by the end of 2014, GANK stock is increasing its ownership base after the penny stock’s biggest volume session to date.
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GANK Stock Quote
Market Cap: 21.00M
Last: 0.70 ▲ +0.05 (+7.69%)
Dollar Volume: $70,537
Issued and Outstanding: 30,000,000
John Arnold, CEO: 7,500,000
Clark Rohde, Founder: 12,500,000
14-Day Rel Strength: 65.89%
1st Resistance Point: 0.7333
1st Support Level: 0.6333
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There are a few things to really “Loev” about Gankit Corp. From a penny stock traders POV, they were incubated with the legal assistance of David M. Loev and John S. Gillies of The Loev Law Firm, PC and the CEO and Founder, John Arnold and Clark Rohde, own 67%, 20,000,000, of the issued and outstanding shares of GANK.
GankIt is very similar to eBay or QuiBids whereby users can come in and bid on an auction for an item or just outright purchase it or “GankIt” as the Company uses to create a bit of swagger. The business model by which GankIt plans to monetize their efforts is pretty ingenious – you buy bundles of bids in advance and then go hunting for that which you hope to “Gank.”
As far as whether or not GankIt can MakeIt as a company, they sure have a better chance than many other start-ups that try to hit the internet pavement running.
GankIt.com was launched and began accepting payments on May 4, 2012 and have already booked over $100,000 in revenues for the 6 months ended November 30, 2013. Although their products offered on the site,90% of which come from Amazon.com, have cost more than the revenue generated, $117,201 for the 6 months ended November 30, 2013, the brand awareness implementation phase, set to cost approximately $500,000 in order to effectively execute over the next 6 to 24 months, is rarely ever a profitable period.
The CEO of Gankit.com, Tom Arnold, is just 33 years old which basically means he was born with a mouse and keyboard already affixed to his crib. His background shows him focused solely on making it on the web having served as the CTO of Salvex, Inc., an online marketplace for the asset recovery industry, since 2004, owned and served as director of Levanta Interactive, a Houston-based web design company that provides strategic web-based solutions, director of Technology for ZooZ LLC, another Houston-based web solutions provider from July, 2010 to December, 2011 and also director of Technology for Neumate LLC, an online-dating website, from January, 2011 to December, 2011.
And here’s the best part: How GankIt looks to make their money. They sell users bundles of bids, starting at $22, with each bid costing the user $0.55 in order to get in on the auction. Here’s a perfect example provided by the Company on how it all works for them:
If an auction for an Apple iPad sells for $20.01, a total of 2,000 bids will have been placed on that auction each with a value of $0.55 (2,000 x $0.01 + the initial $0.01 opening bid equals $20.01). From the auction alone we would collect $1,100 from bids used ($0.55 per bid purchased x 2,000), $20.01 from the purchase of the auction and $6.00 for shipping, or $1,126.01 in aggregate. Assuming the Apple iPad had a cost to us of $500 and a $6 shipping cost, we would generate net revenue of approximately $620.01 from the sale of that one auction product.
Looking at GANK stock, although it’s still early days and the 10,000,000 shares which is the float were sold off much cheaper than $0.70 per share, this could actually be something someday. If this national commercial campaign which may pop up on network affiliates such as ESPN, CNN and Fox News drives enough awareness to their website, who wouldn’t take a gamble for $22 to grab an item they actually need and want by bidding on it for just $0.55?
About GANK Stock
GankIt Corporation is a development stage company operating an e-commerce website, GankIt.com, which sells a multitude of consumer products including electronics, appliances, clothing, accessories, sporting goods, gift cards and more.
Click here to view the SEC filings for GANK.
Click here to view the website for GankIt.
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If you know anything about penny stocks, then you know the Loev connection alone is a reason to have GANK on your radar screen. After analyzing the Company from both a financial survivability POV as well as whether or not their service can make it, GANK stock is a pretty sweet deal right now at just $0.15 more than a GankIt bid.
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