If you’re keeping an eye on the Pink tier companies you’ll often come across funny promotional efforts. There are too many of those to mention, sometimes they are just too hilarious to pass up.
Yesterday Wrapmail, Inc. (PINK:WRAP) closed up 50% at 6 cents per share on volume of 237 thousand shares. After the close the company issued a press release and a number of paid pumpers joined in to try to inflate the price. Another pump effort from July 30 failed.
The press release informs the public of the upcoming report by the company on the Q2 results and the YTD numbers on Aug. 15; and here the fun starts. In a dramatic paragraph, written in bold letters, the company brags that revenues on Aug 15 will show an increase of more than 750% for the first half of 2012 over all of 2011.[BANNER]
How verily exciting! Right? Well, maybe not so much. The press release conveniently omits the number for the aforementioned revenues. For the whole 2011, WRAP managed to generate $2067. Basically for the first half of 2012 the revenues would be about $16 thousand. It’s up to traders to decide exactly how exciting those numbers are.
The pumpers are quoting that paragraph too, and they make it sound even more sensational. The people at Research Driven Investor (RDI) seem particularly impressed by the statement, or it may just be the $30 thousand compensation. I will now try to answer one of the questions in their tout mail.
RDI asks: “Do you REALLY have any idea what could happen in (6) days when these numbers are released to Wall Street?” I won’t pretend I can know with a 100% certainty, but my guess would be – nothing.
Traders may want to ask themselves just how well a business is doing when they try to brag about $16 thousand in revenues for 6 months. They may also want to take a quick look at this Form 144 (Notice of Proposed Sale of Securities), filed by Rolv E. Heggenhougen, Founder and CEO of WRAP.
There is more information on WRAP, but we will limit ourselves to this point. If anyone finds WRAP interesting they should do further due diligence.
