Axis Technologies Group, Inc. (AXTG.PK) is the designer, manufacturer and marketer of a proprietary line of energy-saving and daylight harvesting electronic dimming ballasts for the commercial lighting industry. I got news that the company paid $20,000 to Ecostocks for the stock promotion.
However, these are not the only bad things about the company and its activities. Currently, Axis is traded on the Pink Sheet stock exchange which might have happened not without a reason. It was late to file their annual report of 2008, as well as last quarterly report for 2008.
Besides, great disposals of stock were observed in March and April of 2009. 10% stock owner, Gruenewald Mark Bryan, sold 20,000 common stocks in March, and 22,344 stock in April. In total, it is 42,344 common stocks.
My conclusion is that this stock isn’t the one investors should put their money in. Late filings, as well as sell of shares by the owner remind me the story when all the rats left the boat when it started sinking in the ocean. Isn’t this case similar?