Harbor Island Development Corp. (OTC:HIDC) Pump Grinds in Place
Yesterday the $500 thousand pump for Harbor Island Development Corp. (OTC:HIDC), run by stock promoters Victory Mark, ground to a near halt on the charts, on volume that was a fifth of the first day of pumping and half of the previous session.
The price of HIDC stock remained mostly flat through the session, closing the day a fraction of a cent up – hardly the action expected by the pumpers or one that matches their promises of the price hitting $0.30 in the “days ahead”. The two heads of the Victory Mark hydra – Select Penny Stocks and Penny Stock Heroes, came up with new pump mails yesterday but sent them in the afternoon, possibly fearing the stock would be squished near the open. Once they had made sure that HIDC was hovering around its previous close, the pumpers sent one bland pump email each.
The company pushed out a new hype press release a couple of hours ago, telling investors that HIDC will be launching a print marketing campaign and working on a marketing platform for Infusion Brands International, Inc. (PINK:INBI). INBI, presented in the release as a global consumer products company, happens to be a pink sheet enterprise with a market cap of $5 million, a share price of $0.02 and one that logged net loss of $4.5 million in the first 9 months of 2012.
In our last article on HIDC we discussed the many troublesome red flags about the company and its involvement with third parties. While we encourage readers to have a closer look at the article in question, it bears repeating that the law firm that shows up in HIDC‘s formative S-1 registration statement is Carrillo Huettel LLP, the same law firm that closed up shop in the U.S. and reportedly fled the country, the same law firm that the SEC levied charges against for participation “in an international “pump-and-dump” scheme”.
The current pumpers had the audacity to tell subscribers to check their track record and see how well their previous pumps had fared. To call this an exaggeration would be an understatement. As a matter of fact past Victory Mark picks have been notorious disasters, starting with Pub Crawl Holdings, Inc. (OTC:PBCW), the pump crash that ended 2012 with a dramatic twist, followed by VuMee Inc. (OTC:VUME).
What came next was Red Giant Entertainment, Inc. (PINK:REDG) – one of the more hilarious pump efforts of the first quarter of 2013. Victory Mark probably mean to tout the run Goff Corp. (OTC:GOFF) had before it was pressed more than 50% down, but that can hardly be attributed to them alone, as the other big pumper daddy, Awesome Penny Stocks, worked actively to pump GOFF as well.
We will keep following HIDC as it seems the most spectacular part of the show is still to come. Meanwhile, we advise our readers to do their own due diligence and to never trade on paid recommendations, especially when the compensation in question is as much as half a million.