Borislav Tonev

Sharkreach Inc (OTCMKTS:SHRK) Resurfaces

by Borislav Tonev April 7, 2016

Sharkreach Inc (OTCMKTS:SHRK, SHRK message board) received its current ticker symbol at the end of November and to say that its performance over the last four months has been turbulent would be an understatement. At first, nobody was really paying attention to the stock, but in February, when it received a mention on Forbes, it went through the roof.

In a matter of just a few short sessions, the ticker surged from $0.12 all the way to nearly $0.80. The more forward-looking investors were pretty excited about the exposure SHRK was receiving, but the ones who had done their due diligence knew that sustaining the lofty price tag will not be easy.

The diligent investors knew that the most recent 10-K is ugly and they knew that information about SHRK after the reverse merger from last year was scarce. Not surprisingly, the ticker failed to withstand the pressure and about a month after reaching its 52-week high of $0.85, it found itself at around $0.30. Then, the volumes disappeared and the stock slid further down.

Now, though, SHRK is making a comeback. On Tuesday, the company announced that Kevin Harrington, a successful entrepreneur and TV celebrity, has agreed to join the Board of Directors and yesterday, the management team said that SHRK has acquired an iOS app called Entourage.io which should help you keep better track of your Twitter and Instagram followers.

Thanks to these two press releases, and with the help of a relatively small pump campaign, the ticker logged a couple of high-volume sessions during which it managed to gain as much as 28%. Currently the stock is sitting at a little over $0.24 per share. But will it be able to perform better this time around?

There are a few things that might scare some investors away. In February, the company was supposed to file its report for the last three months of 2015, but it failed to do that. The management team said that the 10-Q will be out within the extension period, but that didn't happen which means that SHRK's OTC profile is now stamped with a Limited Information sign.

Investing in delinquent companies is always risky, but if you're still willing to give SHRK a shot, you should probably know that back in 2013, the company sold 240 thousand shares for $6 thousand. When it effected an 83 for 1 forward split at the end of last year, SHRK inadvertently turned the 240 thousand pre-split shares into 19.9 million post-split ones.

A huge number of shares hitting the open market at once could send the ticker tumbling down. This, by the way, is something we warned you about quite a while ago.

Comments 14

1. Guest
April 14, 2016, 12:15AM

Quotes The activity is not there. No trades. Chart has flatlined. Nobody buying or selling. Nobody cares. Nobody knows? Weirdo stock

2. Guest
April 12, 2016, 01:33AM

Quotes SHRK has most recently raised 450k cash investment & has 44 million issued shares currently. It's growing rapidly through several announced acquisitions. In preparing for a major acquisition Kevin H has now joined the BOD. They are an early stage company with very big plans & the players to execute on the plan.

3. Guest
April 09, 2016, 10:41AM

Quotes When does this company report? Will be watching this one closely. Doesn't look like most crackpot OTC stocks. May nimble some this week. Chart looks great, too :)

4. Guest
April 09, 2016, 07:50AM

Quotes Scrunch next buyout target?

5. Guest
April 08, 2016, 07:31PM

Quotes SHRK specializes in putting together advertising campaigns for brands using influence marketing. It’s commendable that being a small board listed company, SHRK has worked with some of the top influencers such as Nikki Leigh and Amber rose and with big board companies such as Microsoft, Ford and Coach. In addition to Steve Smith’s current role of serving it in the capacity of director, President and Chief Executive Officer, he has been entrusted with the additional role of Secretary and Treasurer of the company. It is to be noted that Smith founded the company in November 2013 and had been steering it in the capacity of President and CEO since then."

6. Guest
April 08, 2016, 10:43AM

Quotes Read on another site to take a look at the chart regarding bollinger bands and yep its tight. Very tight. Bb width is extremely low. Tells me its going up or down hard. Which way? If down, .10 cents. If up, maybe $1.00. This is getting interesting.

7. Guest
April 07, 2016, 07:33PM

Quotes Rumor on the street is that the next acquisition is "sharkfinds" which is very profitable. Guess who owns it? Mr. Harrington. This stock is going past $1.50 in next 2 months or less. Watch and see

8. Guest
April 07, 2016, 04:14PM

Quotes If I can add something to the conversation. The statement about insiders selling shares to fund the business is not true. They are restricted from any activity on the open market for 12 months. Check recent 8K just filed. And CEO Smith has nothing to do with prior company, he just bought it as a vehicle building his business. He was never in the secretary business. Good things all around to be excited about with this gem! Good board, good relationships, good clientele and apps

9. Guest
April 07, 2016, 02:06PM

Quotes Sounds like to me, Steve Smith and his backers gobbled up the former company because he wanted a presence on the public markets asap. I don't think the forward projections, filed Qs, acquired companies will reflect anything even remotely similar from the past. Who knows. You might be right, I am watching this one from afar. But I have seen companies do this before, they don't want to wait out the process so they buy out a distressed, garbage company to get a presence because they have good idea(s) and potential

10. Guest
April 07, 2016, 01:56PM

Quotes WHY WOULD KEVIN HARRINGTON GET ON BOARD? HE IS WORTH $400 MILLION. NO REASON FOR HIM TO ATTACH HIS NAME. HE WOULD ONLY DO IT IF IT WAS SOMETHING HE BELIEVED IN AND WANTED TO BE A PART OF. WAS STEVE SMITH THE TENANT AT THE TIME OF THE TROUBLED LEASE? HE DRIVES A PORCHE. I DID SOME SNOOPING AROUND AND LOCALS SAY THAT CAR HAS ONLY BEEN PARKED BELOW ON THE RIGHT SIDE FOR LAST COUPLE OF MONTHS. I LIVE NEARBY.

11. Guest
April 07, 2016, 01:53PM

Quotes 2 months ago they were about to get evicted because they hadn't paid their lease on their office for months. For all I know they might not have that office anymore. I also know that they owe a substantial amount of wages to their former employees and that right now they just do not have the muscle or the brains to secure any Influencer Marketing deal. Whatever income they are generating, if any, comes from people buying their stock.

12. Guest
April 07, 2016, 01:13PM

Quotes KEVIN HARRINGTON DOESN'T NEED SHARKREACH. SO WHY DID HE JOIN THE BOARD OF DIRECTORS? UNLESS, HE SEES EXCELLENT POTENTIAL AND VALUE IN THIS SPACE WITH THIS SPECIFIC COMPANY.

13. Guest
April 07, 2016, 01:11PM

Quotes They also have contacts like Universal. I like the brands that they and the medium group are working with and I also like that restricted shares can't be sold for a few more months. I believe going into the Warcraft movie, this will have a substantial run on top of the run they get from the next 8Q due anytime now. Their Board of Directors are shaping up to be catalyst to get this company to fly high and mighty. Will be interesting to watch as I am thinking there is some excellent value here, definitely under the radar

14. Guest
April 07, 2016, 01:10PM

Quotes This is a very interesting story for good or bad. I am leaning that it might be good. Seems they have attracted venture capitalists and probably will retire those shares. They definitely have access to cash and are making acquiring other companies. I like both so far. The medium group (1st one), seems profitable so I dug more and it seems that there is something more at play here. Maybe outsiders are coming on board and SHRK is trying to build it self up quickly and efficiently. I looked at the last 10Q for the prior company and it appears to me, that Steve Smith knew he was onto something with the approval of players in this sector and rushed to go public as a result. To say they don't have cash is crazy as I believe when they report again, we will see a much different picture. I might be wrong but I feel the pros far outweigh the cons and this is an actual start-up that may do big things.

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