SKY440 Inc (OTCMKTS:SKYF) Pushed up by Speculation

SKYF.pngAccording to SKY440 Inc (OTCMKTS:SKYF)’s profile on the OTC Markets, the company website resides at skyf440.com. As of the time of writing, it’s not quite ready yet, but when we loaded it, it told us that it is “the future home of something quite cool“. It better be.

A couple of weeks ago, SKYF was glued to the bottom of the chart. Trading volumes were non-existent and so was the price movement. In mid-April, we saw it shuffling a bit. Suddenly, people started paying attention and although the performance wasn’t very consistent at first, SKYF now seems more determined than ever to climb further up. Yesterday, it added a respectable 53% to its value and closed the session at $0.002 per share while racking up a dollar volume of around $1.1 million.

Lots of money is at stake, but at first glance, it seems like there isn’t any obvious reason for the increased interest. The OTC Markets profile doesn’t label the company as a shell, but right now, people have no idea if SKYF actually have some operations. There are no press releases and the latest financial report covers the second half of 2008.

For the record, it says that five and a half years ago, they had:

  • total assets: $35
  • total liabilities: $904 thousand
  • no revenue
  • net loss for the period: $678 thousand

Based on the facts above, SKYF doesn’t really look like the most appealing company in Pennyland. Nevertheless, people are putting money on the line and when you dig a bit further, you’ll see why.

Apparently, Robert Atwell, SKYF‘s CEO, has talked to some investors and he has assured them that he is working on reviving the company. It seems that they are ready to trust him. The buzz around the message boards is quite strong and although there are some people who are a bit skeptical, there’s also plenty of investors who seem convinced that an update will follow shortly and that the price will go further up. Some even reckon that a valuation of a few cents per share is not that far away.

Of course, you need to decide for yourself whether to trust the optimistic investors around the internet forums, but you should probably consider one or two things while making up your mind.

Apparently, the SEC are not too bothered about the fact that SKYF are not filing their financial reports on time, but the OTC Markets seem somewhat concerned. A Caveat Emptor badge was placed on the company profile three weeks ago and although there was no specific explanation as to why this happened, such actions are rarely taken just for the fun of it.

The future of the company is dependent on Mr. Atwell and his experience with public enterprises. He has plenty of it. He was once at the helm of a penny stock called Camelot Entertainment Group (CMGR) and while he was there, he had a few legal problems. This didn’t really help the company make it and in August 2013, it got revoked by the SEC.

0EMJI.pngHe is also listed as the CEO and President of Emaji Inc (OTCMKTS:EMJI). If you are a regular follower of our articles, you know that EMJI made a huge jump a month and a half ago and on March 27, it reached a high of $0.004 per share. Right now, forty-eight days later, it’s sitting at $0.0004.

Will SKYF‘s performance be any different? Time will tell.

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