Cityside Tickets Inc. (PINK:CIST, CIST message board) is trying to buy their own ticket for stock price rally show. And it's an expensive one! According to StockPromoters.com, they have already spent $850 thousand and a boatload of free trading shares to 6 different promoters to pump their stock.
The information was disclosed on stockpromoters.com as can be seen in our neat screenshot below. Their stock picked up huge volume after these promoters got to work and the show hasn't ended yet. What we are witnessing happening with their stock may be dragged on - with all that cash Cityside poured in the promoters will keep it red hot. But the second the music stops where will investors be left?
If the company can pay nearly a million dollars for stock promotion, logically they should have a really good business. They have a professionally made website which seems to deliver what it supposed to. Considering the IR section these guy just lack the key elements.
Last week the company was featured in a news article. While the article seemed positive, the readers reaction was the opposite. Multiple commenters warned investors to stay away and called the company a series of names typically associated with companies carrying out Scam activity.
There is no up to date financial data available on them. The company has recently changed its name as it had done many times before and in turn changed their business model. As found on otcmarkets.com:
Company Notes
- Formerly=Upturn, Inc. (The) until 12-2009
- Formerly=GFY Foods, Inc. until 3-2009
- Formerly=F10 Oil & Gas Properties, Inc. until 1-04
- Formerly=Force 10 Trading, Inc. until 12-02
- Formerly=Petrex Corp. (New) until 1-02
- Formerly=Institute of Cosmetic Surgery, Inc. until 12-00
- Formerly=Petrex Corp. (Old) until 11-98
They have changed the name two times in 2009 alone. The company has previously operated as a real estate entity. Ticket selling is a new business and unheard of before under the CitySide title. Their business model is no different from the other ticket sellers and with the lack of trustworthy information one can only imagine what will happen when the stockpromoters job of pumping the shares is finished.
Enjoy the stock run while it lasts.
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