Last Thursday we wrote about Zamage Digital Art Imaging, Inc. (PINK:ZMGD), when it was promoted and had announced a merger.
Yesterday ZMGD dropped for a third session in a row since the announcement. The loss for the session was 22.22%. With 6.3 million shares traded ZMGD closed at $0.0014, a low the stock hadn’t seen since Jun. 6.[BANNER]
The most serious crash was on Thursday when ZMGD plummeted 26.92% down on 18.1 million shares. The company released another PR around 2:00 pm. It announced the launch of a customizable signage solution. That didn’t help much.
On Friday ZMGD tried to stop the dive again. This time the company announced a “…strategic partnership with one of the largest furniture manufacturing representative on the east coast.”
For some reason, the PR fails to mention who that representative might be, or any details about the nature of the supposed partnership. This announcement managed a very short-lived slight increase in price, which was gone on Monday.
Apparently, promising millions of revenue based on a vague partnership with an undisclosed party isn’t quite enough to help ZMGD.
