It’s one thing to issue news, but it’s another to hog the news section with updates. Not that it wasn’t intentional, but Virtual Piggy Inc. (VPIG) had 5 news announcements today, 8 since Monday, 12 this month, from the e-commerce provider. After an amazing 355% run from March to May this year, VPIG stock, ironically, traded less Wednesday with the PR assault on the wires than it did on Tuesday when only 2 updates were announced. There could be another 9 set for the rest of the week, who knows, but the only thing that really matters is the Company books more than $1,187 before the end of September to report as revenues for the last three months of business.
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VPIG Stock Chart
Market Cap: 148.32M
Close: 1.64, up 0.02 (1.23%)
Dollar Volume: $235,362
Average Trade Size: 1,562
Issued and Outstanding: 91,557,983
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Virtual Piggy has seen a nice, steady 72% climb from its August low and is on the hunt to getting as much exposure for their services with on-line retailers now which is a very strategic move. The retail season is about to begin, and whether the economy is in the tank or not, there rarely is coal in the stockings of today’s youth.
Rather than rehashing what’s out there already on the numerous PR details, check out the BusinessWire headlines for VPIG since September 1. You will see that they are making an push to get themselves into whatever nook and cranny they can squeeze the pig into to make it squeal revenues before the EOY.
The main concern moving forward is whether top line revenues in their niche market, kids under 21 managing and spending money within a parent-controlled environment, can topple the expanding operating costs: $6,560,086 for the 6 months ended June 30, 2012 versus $1,419,803 for the same 6 month period in 2011. Can Beanie Babies®, Beanie Buddies®, Teenie Beanie Bopppers® and Beanie Boppers® really put more beans in the jar to overcome these growing costs for Virtual Piggy?
They have been surviving off of stock sales for years already, much of which is running low with only 58.44 million left to sell as of August 14th. For the six months ended June 30, the Company sold or issued 24,436,561 with 11,061,688 attached warrants at various prices, most at 0.70 per unit. The big kicker is those who exercised options at 0.04 in April and May for a total of 600,000 shares. It’s safe to venture a wild hog guess that while the stock ran to $2.50 in May, someone(s) booked as much as 6,150% on those 600,000 shares.
About VPIG Stock
Virtual Piggy, Inc. is a development stage enterprise designed to provide an online piggy bank security service that allows parents to setup and control their children’s spending online. Parents and guardians are able to determine who is allowed to contribute to their child’s account as well as provide notification mechanisms back to the contributors when the funds are spent. The parent/guardian can establish how much a child can spend in a single transaction and how much they can spend over time.
The Virtual Piggy service tracks all spending and the parent can receive alerts and reports on spending patterns. A third-party site would prompt a child to enter their VirtualPiggy ID – when they attempt to make a transaction. This ID along with category, pricing and descriptive information about the purchase would be sent to the VirtualPiggy webservice. Based on the rules set out by the parent, VirtualPiggy would send back a Yes/No signal to the requesting service and either allow or prohibit the transaction.
Bottom Line: VPIG is one of those “above $1” penny stocks that is only going to attract a certain type of trader/investor. Without the backing of say the group supporting Punchline Resources (PUNL), traders/investors might be hesitant to jump in at these levels. However, looking at the chart history and the agreements the pig is doing just this month alone, they may be worth a run to the holiday season when PR should be shooting out at the same rate it is now to drive/support the PPS.
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