This week, Shaka Shoes, Inc. (PINK:SHKZ) grabbed the gain. After a 26.67% price jump on Monday, yesterday the stock 
soared another 121% and its traded volume exceeded 18 million shares.
The reasons for the furious gain are obvious – promotions and news. The news came up just yesterday when Shaka reported that it has completed the first of three acquisitions and began an initiative to develop solar industry leader powerhouse.
Along with the positive announcements, SHKZ got promoted yesterday in order to secure the climb. The promoter was pennyomega.com, though no third party was related to the campaign, meaning that Shaka has initiated it by itself.
A few months ago, Shaka used to trade notably higher than at present, though the price has been falling down since then.[BANNER]
Unfortunately, the latest 10-Q report of Shaka is not much inspiring either. As of June 30, the company had neither cash, nor any assets in its balance, while its liabilities totaled over $1.7 million. At the same time, the accumulated deficit of SHKZ exceeded $9 million and the revenues kept pointing $nil.
And while making unreasonable acquisitions, the company’s history of material net losses, negative cash flows from operations and accumulated deficit raise a substantial doubt about its ability to continue as a going concern.
