Yet Another Pump for ITonis, Inc. (OTCMKTS:ITNS) Crashes
Yesterday Itonis, Inc. (OTCMKTS:ITNS) spasmed in early trading and was eventually flattened to a close 16% in the red. The reason for this was the very latest round of pumping targeting the company that caused another volume surge to go along with the price drop.
As a matter of fact, the two previous volume spikes for the ticker – one in late October and one last Monday, were caused by paid pumps as well, with respectively $60 thousand and $35 thousand bagged by the highest-paid promoters. Our database collected a total of over 280 tout emails all pumping ITNS, sent out between the summer of 2011 and the present.
The result of all the pumping was that the ticker is currently priced 98% below its 2011 highs of 9 cents per share and has not been able to recover from double-zero land since its February 2013 pump, which we also covered.
So, has anything changed over at ITNS since that article? Not an awful lot. Here is a brief summary of the figures posted in the company’s latest quarterly for the period ended August 2013:
- $6 thousand in cash
- $485 thousand in current liabilities
- zero revenues
- $192 thousand in quarterly net loss
Despite the numeroud pumps all ending with disaster on day one, much like yesterday’s $45 thousand tout, ITNS keeps posting optimistic press releases concerning their nausea remedy. Strangely enough, all three latest news release dated have coincided with the dates of the most expensive pumps.
Yesterday’s five-liner bit of PR stated that ITNS expects to receive production samples of its nausea remedy over the ‘next two weeks’. Those of course will need in-house testing before a full production run is greenlit. It remains to be seen how many more touts the pumpers will manage to squeeze between now and the point in time when ITNS has to report revenues next. Judging by the company’s track record of pumps and the fact that the majority of them cave in on the day they are launched, yet each new round manages to generate volume, there may be a few more hiccups down the road.
