Wild Craze, Inc. (OTCBB:WILD) Soars After Quarterly Results
Last week Wild Craze Inc. (OTCBB:WILD) were on a steady climb up the stock chart. The company was backed buy a promotional campaign but no sharp price movement were registered. Interest in the stock continued to rise and with the start of this week they simply exploded.
WILD surged by exactly 40% percent in a single day to close at $0.56. Traders shifted more than 2 million shares, a record number for the company that was mostly forgotten by the market.
Such a big jump was once again supported with email alerts from WallStreet Advisors and Stock Castle who as we previously informed you expect to receive up to $800 thousand for their services. Their previous pump job was back in late-January when they touted USA Graphite, Inc. (OTCMKTS:USGT). Back then the company was trading for $0.9 but was devastated when the emails stopped crashing down to less then 20 cents and at present sitting at $0.08 per share.
A new addition to the campaign for WILD are FreeSuperStocks. They joined in yesterday by issuing a couple of emails and, despite the name, the newsletter is disclosing a compensation of up to $25 thousand.
WILD decided to do their part as well hitting the market with yet another news. This time regarding the opening of a new sales and distribution center in Oakville, Ontario in order to expand its business in Canada. Although the news is significant enough on its own it was more than certainly overshadowed by the filing of the financial report for the second quarter of 2013. In it WILD disclosed the following results:
- $1014 cash
- $302 thousand total current assets
- $1.4 million total current liabilities
- $194 thousand sales
- $300 thousand net loss
For now the almost non-existent cash reserves aren’t going to be a problem due to the $2 million revolving line of credit and the Investment agreement with KVM Capital Partners who are committed to buy up to $2.8 million of WILD‘s common stock. Revenues have more than doubled compared to the previous quarter but most of the red flags around WILD are still present.
Seed shareholders had 9 million shares bought for just $0.038 after the 13-for-1 stock split and if they are selling at the current prices stand to gain millions due to the increased interest. Not to mention that last Friday the company was added as a defendant in George Sharp’s ongoing lawsuit against spam email campaigns.
Doing your own due diligence is the best first step when dealing with pumped stocks. SourcingLink.net, Inc. (OTCMKTS:SNET) managed a one-day surge after their pump began but since then the ticker has been plummeting downwards. Yesterday was a disastrous session when it lost half of its value and dropped to just $0.09. Bluforest, Inc. (OTCMKTS:BLUF) also suffered a loss of 13% after they too were named a defendant by George Sharp.