Yes this was nothing more than a front loaded pump & dump (possibly even a scalping scheme if alerts were involved) and the third time the same group has run a front loaded pump & dump on a lowish float bankruptcy ticker trading in the $.000s using false claims about the ticker coming out of bankruptcy and heading into some kind of merger/buyout.
The first was RGDXQ back in December. RGDXQ started getting loaded on 12/10 from $.0002 then the pump started with false rumors about a Fake Reverse Merger/Buyout with a Nasdaq ticker.
CGSYQ held up much better than RGDXQ partcially because it didn't climb as high, but it will eventually come back down too because it is being held up on bogus made up information
UGHSQ is just front loaded lowish float bankruptcy pump&dump #3. It was pumped on false information just like RGDXQ and CGSYQ by the same group that pumped RGDXQ and CGSYQ.
The front loading on UGHSQ happened on February 3rd in the $.0005 - $.0006 range. You just have to go back to 2/3 and read the posts on this board to see who was posting about the upcoming pump&dump
So hopefully people that bought after the front loaders here didn't chase too high and get burned and were able to sell for profits before things got ugly