It was announced that Mega Media Group, Inc has recently paid 1,750,000 free trading shares to OTC Reporter for promoting its stock, while Willy Wizard has gotten $1,000 for the service. I would like to take a closer look what is happening in this company. Was this promotion needed to the company?
Mega Media Group, Inc. (MMDA.OB) is a multimedia company focused on radio broadcasting and entertainment branding in North America. Although this type of business seems to be rather interesting, the company still faces some difficulties. Last week it announced about exclusive agreement with Masterbeat.com but no approving filing was released. In addition, the notification about the late annual results was submitted to the SEC. The two facts do not make the company more trustful to investors.
One more uncertain signal about the company’s performance is the falling down stock price. After the trade yesterday it decreased by 20% and staid at $0.016. It looks like some investors decided to leave Mega Media. Are you still in it yourselves?