Integrated Cannabis Solutions, Inc. (OTCMKTS:IGPK): No Bottom To Be Seen

Integrated Cannabis Solutions, Inc. (OTCMKTS:IGPK) keeps killing money, with six solid days of rapid selling and deep price cuts. The ticker ended Wednesday at $0.10 after a loss of more than 33%, as selling continued to accelerate to more than 4 million shares, or $615,000. IGPK is the rare ticker that crashed in the classic way, right after a pump. Not even its qualities as a newly arrived marijuana company could make the bad mood go away.

The total loss in the past trading week or so expanded to about 80% compared to the peak prices. IGPK was only bought by investors because of the email campaign, with almost zero volumes in the months before that. And IGPK itself is shameless: one of the PR moves to acquire a compliance and legalization company fell through. The most recent corporate update shows that IGPK decided to terminate the transaction to acquire iComply, LLC.

In fact, the buyout was structured so that IGPK could become the vehicle for the private company and give it access to the OTC trading. Unfortunately, the ticker is tainted with the recent crash, leaving iComply to seek greener pastures. Still, the announcement served to give some legitimacy to IGPK as a business that would service the legal cannabis industry with consulting.

Of course, IGPK itself lacked the funds for a buyout, despite the market cap of above $61 million. The financial situation is more eloquent:

• total assets: $0

• total liabilities: $34 thousand

• revenue: $0

• yearly net loss: $300

But even at rock-bottom levels, there would be investors who seek a buying opportunity, in case there is a rebounce. If IGPK continues trading, there may be a chance- but we continue to wonder how this stock escaped the SEC measures of trading suspension which affected better-positioned marijuana stocks.

If you believe IGPK will now settle on more logical levels, be aware that buying at a bargain price may be elusive. There are projections that IGPK would go down as far as one cent, but we know of promoted tickers that burrowed even below the penny levels.

And all of this is happening while the whole MMJ sector has not recovered its enthusiasm. The Marijuana index is down another 7.5% net on the day, weighed down by the heavier-weight companies. On the other hand, the sub-penny stock, Latteno Food, Corp. (OTCMKTS:LATF) ended the slide with three days of growth, almost doubling the price from its recent bottom. It is those underpriced and depressed stocks that sometimes attract with the proposition of a second chance. LATF stands around $0.0058 currently.

The other active double-zero stock that moved on to legalized marijuana is so far holding up. USA Energy Initiatives, Inc. (OTCMKTS:USEI) rose on unusual publicity from triple-zero prices, but for now manages to hover around $0.008.

But in the case of IGPK, even survival and trading may be under question, as well as the chance to sell off unwanted shares on time.