Great China Mania Holdings, Inc. (OTC:GMEC) Fails to Impress Investors Despite Promotion
This week Great China Mania Holdings, Inc (OTC:GMEC) did everything in their power to increase investor’s confidence in their stock and to add some cents to their price. Ultimately, the market remained indifferent. Monday and Tuesday saw them drop by 9% and 2%, respectively, followed by a 7% and 6% gain in subsequent sessions. Yesterday they closed at $0.036.
The slew of press releases coming out of GMEC went unnoticed by traders. Neither the excellent news that GMEC will receive government funding from the Hong Kong Film Development Council, nor the many events of their top artist Chrissie Chau improved the movement of the ticker.
PR articles weren’t the only tool used to boost GMEC. A pump campaign was started as early as April 15. Yesterday, MJ CAPITAL, through its affiliates – PennyStockLocks, StockLockAndLoad, StockRockAndRoll, also joined in the promotion, for a $15 000 compensation of course. The problem is that this is the third pump campaign for GMEC since the start of the year and people are getting used to the bombastic statements and promises of massive profits.
In their latest annual report GMEC disclosed the following results:
- $218 thousand cash
- $888 thousand total assets
- $1.3 million total current liabilities
- $4.8 million revenues
- $535 thousand net loss
It seems they almost broke even during the past year. The current revenues are earned mostly through their artist management subsidiary while their other business activities have declined since 2011.
GMEC should concentrate on their more lucrative endeavors and cut a little on their expenses, in order to have a positive bottom line. Their success in the near future will be heavily dependent on the performance of their debut movie “Kick Ass Girls”. For now, having in mind their past history with paid promotions, it is essential to do your own due diligence before making a decision that will put your money on the line.
