Prince Mexico S.A., Inc. (OTCMKTS:LUVE) Gets a $350 Thousand Pump
Yesterday Prince Mexico S.A., Inc. (OTCMKTS:LUVE) jumped nearly 70% to a close of $0.34 per share. The heavy volume and price action was triggered by a huge round of paid stock pumps targeting LUVE that was launched two days ago.
In less than 48 hours, 30 email touts have been dispatched to the email inboxes of ‘fortunate’ subscribers of various pumper outfits. The lion’s share in terms of compensation went to little known promoter TooNiceStocks, who disclosed pocketing $350 thousand to pump LUVE. Other promoters such as Stock Hunter and Hero Stocks disclosed receiving $100 to advertise LUVE stock.
So what is it about LUVE that should excite investors? The pumpers quote the higher prices LUVE was trading at back in late March, failing to mention that the brief run above $1.00 per share was followed by a momentous drop of about 70% that happened in just four market sessions. LUVE is currently a Pink Limited Information company, due to the fact that it is late with its Q1 filing for 2013. The most recent report from the company is its 10-K, dated December 2012, containing the following numbers:
- $8 thousand in cash
- $769 thousand in current liabilities
- $228 thousand in yearly revenue
- $138 thousand in yearly net loss
Sadly, investors hoping for a more up-to-date glimpse into LUVE‘s financials that could possibly show some improvement over those enthusiasm-deflating figures is going to have to wait indefinitely and trade on the paid promises of promoters alone. The company’s 10-Q for the quarter ended March is still nowhere to be found, even though yesterday LUVE posted an optimistic press release, informing the public things were moving along with the filing. The release claims the report should be available by the end of this week, setting yet another deadline which LUVE will hope not to miss.
The company also announced it’s planning to try and upgrade its status to OTCQB, after auditors go through past filings. This doesn’t sound too convincing, considering their current status is OTC Limited Info, but time will tell.
Traders may also want to keep in mind there was a forward split done by LUVE in 2013 that increased its shares 7 times. Now the company is getting pumped. Investors should be able to figure this one out on their own.
Yesterday’s big percentile movers also included Jammin Java Corp. (OTCMKTS:JAMN), that moved 19% up, continuing its streak after a brief hiccup. Bio Matrix Scientific Group Inc. (OTCMKTS:BMSN) also moved 35% in the green, in yet another attempt to breach half a cent per share that fell a little short.
Those considering LUVE as an investment opportunity should consider the risks involved and weigh the past performance of promoters touting it, which is not exactly stellar, before making any rash decisions.
