Amazonica Corp. (OTCBB:AMZZ) Gets a $600000 Pump
Amazonica Corp. (OTCBB:AMZZ) first caught our attention back in July when the company started to suddenly shift quite large blocks of its common stock. Back then their business plan was to be a distributor of Brazilian hardwood flooring but they hadn’t made a single sell in two years of operations. Still we looked through its filings and warned you that AMZZ displayed some of the characteristic signs of a shell that is being prepared for a pump campaign.
And now the pump has been officially launched with a landing page created for AMZZ but first lets see what was the company up to these past five months. After the 175-for-1 forward split execute in May seed shareholders of AMZZ now owned 91 million shares bought for just $0.0002. The management team changed when the former CEO sold his 350 million shares to Mr. Michael Soursos for $50 thousand and 5% from any future sales of the shares. Now with the change in directorship came the expected change in business as well. Mr. Soursos decided to ditch the hardwood flooring and move towards something much more advanced – the production of hydrogen fuel.
In order to do so he acquired a patent-pending one-step hydrogen production technology form Mr. G.P. Glazunov at the price of 64 million shares. The CEO canceled 230 million of his shares which still left him the considerable amount of 56 million and the set up for the pump was completed. With so many people possessing so many shares AMZZ needed to start attracting attention and thus the landing page we mentioned at the start. It was created by Untapped Wealth for a fee of $5000 but reading the disclaimer at the bottom of the page reveals that a total production budget of $600 000 has been assigned for the campaign.
At the moment there are no email alerts touting the company but that is more than likely going to change thanks to the large amount of available funds. Just keep in mind that despite the bombastic statements AMZZ is in a dismal financial state with zero assets and zero revenues. On October 24 they managed to acquire $300 000 from Anton Group Hill Ltd. in the form of a convertible promissory note which only means further dilution. AMZZ has nothing to offer and with a grossly overpriced market cap $437 million it may be for the best to skip them altogether.
In early trading today the pump for Nevada Gold Corp. (OTCBB:NVGC) started plummeting right from the opening bell and bu now the stock has lost nearly a third of its value sitting at $0.366. We warned investors that the company was reaching highly unstable prices and that a correction was inevitable. Another pumped stock – Life Stem Genetics Inc (OTCBB:LIFS) is crashing for a second day in a row, dropping by 16% today and trading for $1.19 per share.