Georgi Kamburov

GroGenesis Inc (OTCMKTS:GROG) Spikes to New Record Highs

by Georgi Kamburov April 9, 2015

• $147 cash
• $20 806 total current assets
• $271 thousand total liabilities
• ZERO revenues
• $69 thousand net loss

That is right, GROG actually have less than $200 in cash reserves. At the same time they currently command an overly-inflated market cap of nearly $79 million. By April 15 GROG should file their financial report for the quarter ending February 28 and if it once again shows such a miserable picture it could cause the stock to plunge for the bottom of the chart.

The problem is that the red flags around GroGenesis run far deeper than their depressing financials. As of January 9, this year, the company had close to 81.5 million outstanding shares and nearly half of them were issued at severely discounted prices. Back in 2012 when GROG were still operating under their previous name they sold 1.6 million shares at $0.02 each to a group of unnamed investors. Thanks to the 25-for-1 split performed at the end of 2013 those people now owned 40 million shares that could bring them massive profits if unleashed on the open market.

And here comes the paid pump that has been touting the stock of the company since the start of March. An entity called Untapped Wealth created a landing page dedicated to GROG. The disclaimer at the bottom of the page states that the pump has a weekly budget of $150 thousand. Some pump newsletters also took part in the campaign but for the past few weeks no alert emails have been sent.

The risks around GROG are extremely serious. Any trades involving the stock should be attempted after careful planning and extensive due diligence. 

Type the characters that you see in the box (5 characters).