On Friday, eMax Holdings Corp (PINK:EMXC) delivered both a press release and a promotional coverage on the market. With these stimuli behind its back, the company’s stock surged 20% on a volume of 46 million shares.
The update that was issued by the company on Friday provided information about:
- Dividends
- Uplisiting
- Share buyback
- Operations
All of the above mentioned topics, apparently, have refreshed investors’ passion for the stock as both the volume and the stock price have been on the rise up.
EMXC started a spectacular climb at the end of May. Since then the stock has managed to leave the triple zeros area and is now traded in the sub-penny zone.
It is obvious that market participants have been affected by the company’s share structure incentives. However, the fact that the filing of official financial reports is still pending should not be underestimated. At present, except for insiders, no one knows what the financial state of the company is and where the money for the share buyback is coming from. [BANNER]
It should also be remarked that the newsletter of Stock Signal did not eulogize the company out of good will. On the contrary, the promoter admits he received 12,500 preferred class A restricted shares by EMXC at $10 per share, which makes $125 thousand.
Therefore, it seems really necessary that the company publishes its reports so that investors can see how EMXC has procured the cash for the buyback program and the promotional coverage. However, no one stops the risk tolerant traders to trade the company’s shares and wait to see what will happen if the company manages to get access to the OTC and shows proper financial reports.
