Today Apps Genius Corp. (OTC:APGS
, APGS message board
) is getting support from a paid promoter. It's not the first time the company has been touted, and previous promotions didn't amount to anything more than short spikes followed by new lows.
Pumpers chose Raven Consulting this time. The promoter was paid $25 thousand to push APGS by either ADSC or EEA, depending on which newsletter you get. This is in a way naming the third party paying for the pump, although acronyms are not the most useful identifiers.
On each of the previous two days, APGS issued one press release. Yesterday, despite the possibly positive news, APGS closed down 3.81% at $0.101 on a little over 150 thousand shares.
Historically APGS has managed to generate very limited revenues, nowhere near enough to finance its operations, let alone growth. In February the company entered into a securities purchase agreement which should have given APGS about $900 thousand.
In theory this should allow APGS to create more products, but the success of its games and apps so far hasn't been too impressive.
So far today's promotion-fueled performance of APGS stock hasn't been much different than most pumps. Shortly after the open APGS hit a high of $0.13, but about half an hour into the session it traded at $0.105. The future of APGS is largely dependent on its business performance.