Yesterday, an expensive stock promotion made Cardio Infrared Technologies, Inc. (PINK:CDOI) stock deliver a three-digit gain and make unseen share turnover. Though, the company had no cash whatsoever at the end of this year’s first quarter and has not announced any developments recently to suggest long-term appreciation. 
Monday’s trading session will remain a remarkable one in the trading history of CDOI. The stock closed the market at $0.0691 with a 130.33% jump up from the previous close and a trading volume of over 149 million traded shares. The reason behind that action looks simple: a $1 million stock promotion that took place yesterday. Our database counted 12 promotional newsletters for the stock and there were two paying third parties involved.
According to Cardio Infrared Technologies quarter report published on the OTC Markets page, the company is a manufacturer, distributor and developer of health care products, whereby the focus is exercise equipment that combines infrared heat with exercise. As already mentioned, as of end-March this year CDOI had no cash and equivalents on its balance sheet, while its current liabilities exceeded $300,000. The company also ended the quarter with a net loss of over $30,000.
There is no news from Cardio Infrared Technologies since the end of March. Then, a press release announced that the company’s BioFitTM work-out bike, typically used for weight and inch loss, was being used for Body Sculpturing.
An interesting fact to be found in CDOI latest quarter report is also that its CEO Wayne Bailey is the principal shareholder of the company, owning 29 Billion, or 95%, or the issued and outstanding shares of common stock. In May this year, CDOI has conducted a 1 for 3000 reverse split, decreasing the number of its outstanding shares, which is now given at 300 Million. Interestingly, the given public float is 100 Million shares, or substantially less than the 149 Million shares that changed hands yesterday.
