Kaloyan Gadzhev

IDO Security, Inc. (OTC:IDOI) Pumped for Today

by Kaloyan Gadzhev March 29, 2012
IDOI_chart.pngIDO Security, Inc. (OTC:IDOI, IDOI message board) may get more attention than usual today. The company issued a press release yesterday, and there is a paid promotion too.

The press release was published sometime around 4:00 pm. IDOI closed up 11.11% at $0.50 on approximately 54 thousand shares.

The press release is in line with previous announcements made by the company. It said IDOI had completed supplying the initial order of its units to the Federal Airports Authority of Nigeria.

According to the disclaimer, the promotion that could affect trading today was paid for by SNK consulting Services, LLC. The company, in turn, was paid by "investors/shareholders" of IDOI who intend to sell. The promoter was paid $30 thousand.

Should traders take the time to read this disclaimer, the pump may not have a positive effect on the price of IDOI. However, a lot of people skip that part.

IDOI_logo.pngOn the financial side, IDOI hasn't managed to turn a profit. The latest financial report showed limited assets and a lot of liabilities. The annual report is due soon. When it comes out there will be more information to form an opinion.

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