An Army of Promoters Mobilized for Independence Energy Corp (OTC:IDNG)

IDNG_chart.pngIndependence Energy Corp (OTC:IDNG) has been one of the most tightly promoted penny stocks for the last couple of days. However, for those of you who are well aware of the guy in charge of IDNG, an effort of this sort should come as no surprise to you.

The latest pump effort in support of IDNG is a multiple game involving such promoters as Sizzling Stock Picks, OTCEquity, Explosive OTC, Inside Bulls and Wall Street Buzz to name but a few.

In fact, the campaign commenced on Tuesday when we got Sizzling’s email slightly before 4 o’clock in the afternoon. As it turned out, those 34 minutes left till the end of the session proved more than sufficient to turn things upside down. In the end, IDNG shot up 104%.

Round #2, on the other hand, started yesterday at 16:18, i.e barely 12 minutes before market close. The campaign, which was worth $12,500 paid to OTCEquity and Explosive OTC, yielded no satisfactory results.

As it seems, there are three different campaigns in support of IDNG shares today. The total compensation amounts to $21,000 and it has been distributed among Inside Bulls, Wall Street Buzz and Penny Stock Empire. Sixty minutes into the current session, IDNG shares have already shot up 28% as compared to their previous close yesterday. So, when will the bubble burst? Because, believe me, it certainly will.

IDNG_logo.pngWhy? Just take a look at the person who is currently in charge of the company. Does the name Gregory C. Rotelli ring any bells to you? Let us outline the basic facts about that guy. Besides being a CEO of IDNG, he also serves as the company’s CFO, Treasurer and Secretary. What is more, he is also the be-all and end-all in Rostock Ventures Corp (PINK:ROSV) and used to occupy a few senior positions in Razor Resources Inc (PINK:RZOR). Not to be rude, but all these pink sheets have a sub-penny status in terms of market value, which does not exactly imply good investment opportunities.

Yet, what matters the most here is the fact that both ROSV and RZOR have been pumped on a frequent basis before (see their promotional dossiers here and here) and so is IDNG now. If this were not enough, Rotelli purchased 12 million IDNG shares in January, 2012, which grew to a staggering 60 million following the 5-for-1 split six months later. As of today, there are no filings suggesting that Rotelli has already sold these shares so he still possesses them hoping to take advantage of the new pump.

The bottom line is that Rotelli’s stake in IDNG is big enough to destroy the life savings of entry-level credulous investors who might fall into the trap set by the promoters mentioned above.

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