InterAmerican Gaming, Inc. (PINK:IAGM
, IAGM message board
) had an impressive session yesterday. The company issued a corporate update, however, the price went up even before the press release.
At the end of the day IAGM closed up 177.78% at $0.025 per share. The volume of approximately 585 thousand shares was a new 52-week high for IAGM.
One probable reason for the sharp price increase prior to the update is IAGM featured in a promotion. At this point, we are not certain if there was a compensation for the campaign.
The update said among other things that IAGM and its accounting team have been working diligently to do what it has to in order to get to the fully reporting tier of the OTC Markets.
This would be a move in the right direction, but the press release fails to give even an approximate date when shareholders could expect that to happen.
IAGM is currently developing a social gaming platform for the health and fitness industry. The press releases issued by the company suggest the management is excited about the future of IAGM, however, there is simply too little information available to provide stability to IAGM's outlook.
So far today IAGM is trading around yesterday's closing levels.