however, the rumors predict a huge climb for the penny stock.According to stockreads.com, IDEH “plans to grow through acquisitions and not depend on organic growth as a sole predictor of profitability” as many big players in the industry are generating hundred of millions through the parking management. Thus, IDEH stock has been featured in a number of promotional stock letters and forums and pointed as the future “Must Buy” on the market.
Apart from the promotional newsletters, IDEH has just released further good news on its business. The company reported that it has entered into a Letter of Intent to acquire a Budget truck rental dealership from Heights Management 176 LLC to maximize the potential of extremely limited parking space in the New York City Metropolitan area. The purchase price is to be based upon an independent third party appraisal. Scott Lieberman, Chairman & CEO of IDEH, was highly optimistic about the acquisition and projected “significant returns to our shareholders”.[BANNER]
Apparently, IDEH is getting ready for the high trade, however, it’s too early for final conclusions. First, the date for the new acquisition depends on some conditions and there can be no assurance when and if the transaction will be made. In the meantime, IDEH stock is falling down and no one knows what will happen with the promotions being over.
International Development and Environmental Holdings is a development-stage company engaged in the parking management and truck leasing sectors. Currently, the company is trading much lower than a couple of months ago when the stock price reached $0.55 per share.
According to its quarterly report, as a development stage company IDEH has generated no revenues, though its liabilities are far beyond the total assets. The company’s losses have been increasing and the deficit accumulated during its development stage totaled over $714 thousand by end-August this year. On October 25, IDEH had $0 in cash and the management stated that “The Company’s lack of operating history and financial resources raise substantial doubt about its ability to continue as a going concern over the next twelve months”.
Based on all these facts, there is only one question left for investors – how is IDEH supposed to get the heavy gain?
