SK3 Group, Inc,(PINK:SKTO) Stands Its Ground
It appears that nothing can dissuade investors from flocking around SK3 Group, Inc. (PINK:SKTO) despite no shortage of reasons for second-guessing. As of yesterday their stocks are traded at 0.052 after skyrocketing from 0.0006 in just a couple of weeks.
Like so many others, SKTO decided to ditch their previous nutrition business and start anew in the medical marijuana sector. And like so many others, investors welcomed them with opened arms. Prices went sky-high, traded volumes exploded and people started asking questions.
Well, finally some of the bigger issues surrounding their activities are being addressed. Two sites have been created regarding their newest acquisition and major reason for recent success – Medical Greens. Everything looks fine until you realize that there is no concrete information, just some pretty pictures and a letter form the new chairman Mr. Kevin Allyn.
Next on the agenda is the skull and crossbones mark given to them on March 20 from OTCMarkets. SKTO has not filed a financial report for more than 2 years. And wouldn’t you know it, only six days later came a press release about the appointment of Jeffrey Benz, an experienced business attorney. All is set for SKTO to report financial results about the fiscal quarter ending March 31, 2013.
Certain steps have been taken to improve and restructure the company, while rectifying some of the more alarming concerns. A big positive sign for future investors will be the alleviattion of their current standing with OTCMarkets. Having in the past resorted to paid promotions and with the current volatility of the medical marijuana companies, SKTO‘s future remains full of unceartainties.
So unless they start creating shareholder value based on something else rather than press releases, we advise you to carefully weigh all the risks before taking any action.