Immage Biotherapeutics Corp (IMMG)

[@LiftedCapital]

WHERE'S DOES ALL THE TRADERS MONEY GO!?!? POOF EVAPORATES IN THIN AIR!! THE SEC IS A FRAUD ALONG WITH ANY GOVERNMENT RAN ORGANIZATION!!

[Breck22]

So we now know for sure immg was in on the p and d, and call me naive with this next ques if need be, but does this also mean that the company is a scam? That there's no ppl studying a cancer cure, that the pr's were also totally made up??
If so, thats really scary as Im sure there are folks out there who were not aware of the newsletters but rather read the pr's and invested on that info.

[lucky, mydog]

hold for what? is there an upside?

[beachbumjeremy]

So if all this new information is accurate, at it's current price, dump it or hold?

[Martin11]

Now a days you can't trust anyone in the stock market. Wolfs in sheep's coat difficult to identify. We got burned by not listening to you.

[1manband]

Do you have any proof that they knew about this scam before hand or they are not legitimate.

We certainly do now!

From the SEC's charges filed today for the IMMG pump and dump:

"The SEC also obtained an emergency court order freezing Lin and Chen's assets in their brokerage accounts, including approximately $1.2 million that otherwise would have been wired to bank accounts in Hong Kong, and millions of shares of stock. In support of the emergency asset freeze, the SEC argues that available evidence indicates that Lin and Chen, who purportedly purchased their shares from individuals located in South Africa, in fact purchased restricted shares from the issuer because the purported sales to the South African individuals did not occur. Among other things, the SEC states that one individual from South Africa never even purchased the shares that she purportedly sold to one of the Defendants.

https://www.sec.gov/litigation/litreleases/2017/lr23821.htm

Clearly, IMMG's management knew about the pump and dump as they sold the dumped shares directly to those two. And IMMG would have known exactly what was going on, and aided in the dump, by approving the clearing of the restrictions on the shares before they were sold.

[1manband]

And the truth reveals itself one more time! IMMG was just one more in a long line of pump and dumps using paid promotions on sleazy websites to find buyers for essentially worthless shares.

Didn't take the SEC anywhere near the 28 month average to file charges. A pleasant surprise.

"According to the SEC's complaint filed in U.S. District Court for the Southern District of New York on April 26, 2017, Wensheng Lin and Sheng Li Chen acquired over 8.4 million shares of Immage Biotherapeutics Corp. (IMMG) at $0.0037 per share, or just over $31,000. Lin and Chen allegedly sold their shares for as much as $1.4745 and $1.1286 per share, collectively earning net profits of more than $1.8 million. According to the SEC, no registration statement was filed or in effect covering Lin's or Chen's sales, and no exemption from registration was available.

Also according to the SEC, the majority of Lin and Chen's profits derived from sales that occurred after promotional websites began touting IMMG. The SEC alleges that the touting claims on those promotional websites were, at a minimum, materially misleading."

I am sure this has been an expensive lesson for a lot of people who got sucked into this stock through that paid promotion. Hopefully they will learn to never EVER believe paid promotions at face value. Always read the SEC filings FIRST. And if what is included in the filings doesn't match what is in the paid promotions, RUN AWAY!

[lucky, mydog]

https://www.sec.gov/litigation/complaints/2017/comp23821.pdf

[AlphaDog1]

The SEC obtained a partial asset freeze on 2 young Chinese guys' brokerage accounts. They are part of a large cartel who fleeced you naive investors and speculators last month.

Stay far far away from penny stock promos or you will get fleeced again.

You may learn more here:

Latest litigation releases at sec.gov.

[fsantes]

Is up at 9cents.....? Anyone know anything.... Keep going IMMG

[beachbumjeremy]

So what now? No news? Any thoughts?

[lucky, mydog]

that's illegal if they bought it for you.

[scoobie420]

Been there done that, they wouldn't sell. No point in selling now.

[Skittles9]

To Planeguy67. I just put in another bid at market and limit on Saturday at 9am just to see. It took them both. The day of 4/19 I had to call the broker because on that day it would not accept them. I wasn't selling I was just inquiring. Not sure why? I would call and ask. Be polite. Thx.

[nope941]

I've got 4,000 shares. Selling would only net a few hundred $. I'll hold and see what happens.

[lucky, mydog]

call back and bitch. ask to speak to a compliance officer. don't take no for an answer.

[Planeguy67]

I also had a regular E*TRADE account. If trying to trade online, it lets me go through the motions of selling then on last step it says 'cannot do this call 1-800-.....'

[billi976]

I had 500 shares at 1.27. When it dropped I increased my position to 5900, now my average price is 17 cents. I think the stock will take off again when they announce an update on human trials. Definitely hold in my opinion! No point in selling.

[Skittles9]

Though I am still holding. I have E*Trade and I can do it online. Do not have to use broker now; 4/19 you had to call in, not now. This is for me. I just have a regular account.

[scoobie420]

I did. They said it still had a DEC trade restriction and would not allow trades on it.

[Skittles9]

Like to hear from anyone who is still holding out hope. Like I said, if I am only getting back $100 0r $200 back why not see if something does turn around. You'll probably get to write off some of that anyways. From what articles, SEC., and the company have said we don't know the whole truth, and talk is cheap but the stock shares we all bought were not. Later my IMMG friends.

[Skittles9]

IMMG News: Quarterly Report (10-q). * Sorry, IMMG, not MMG.

[Skittles9]

MMG News: Quarterly Report (10-q) Read this and see what you think. The company has some news, albeit the quarterly before this happened. Are there any other shares available other than those that jumped the sinking ship. Not sunk yet!

[lucky, mydog]

volume shrinking. less than half of what it was yesterday.

[lucky, mydog]

The Caveat Emptor Designation is Assigned When OTC Markets Becomes Aware of:

Promotion/Spam without Adequate Current Information — The security is being promoted to the public, but adequate current information about the company has not been made available to the public. Promotional activities may include spam email, unsolicited faxes or news releases, whether published by the company or a third party.
Investigation of Fraud or Other Criminal Activities — There is an investigation or other indication of fraudulent or other criminal activity involving the company, its securities or insiders.
Suspension/Halt — A regulatory authority or an exchange has halted or suspended trading for public interest concerns (i.e. not a news or earnings halt).
Undisclosed Corporate Actions — The security or company is the subject of a corporate action, such as a reverse merger, stock split, or name change, without adequate current information being publicly available.
Unsolicited Quotes — The security has only been quoted on an unsolicited basis since it entered the public markets and the company has not made adequate current information available to the public.
Other Public Interest Concern — OTC Markets Group may determine that there is a public interest concern regarding the security. Such concerns may include but are not limited to promotion, spam or disruptive corporate actions even when adequate current information is available.

http://www.otcmarkets.com/learn/caveat-emptor

[stocksplit123]

This is a steal at these prices, when this is .50 cents plus you will be kicking yourself

[stockyupydowny]

Excellent - looking forward to bringing funds over here next - this is on my radar

[stocksplit123]

Update , company is still working, business as usual

[stocksplit123]

Power hour!

[@LiftedCapital]

SEC NEEDS TO BE SUSPENDED

[@LiftedCapital]

AMEN

[Martin11]

Do you have any proof that they knew about this scam before hand or they are not legitimate.

[1manband]

What happened was not company's fault

Wanna bet?

The Company knows EXACTLY what was going on. Many companies suspended by the SEC for fraud claim they are innocent and don't know what happened, but it is NEVER true.

The SEC has 5 years to file charges against the people perpetrating the fraud in this stock. By the time the SEC and/or DOJ do file charges, most of the shareholders are long gone and forgot about the stock, so they never learn how they were really scammed.

[Martin11]

They have not closed the company and walked away. People have sudden reaction and get panic and sell. What happened was not company's fault, there are hundreds of crook promoters who are there to make money on piggy back on others. This is the glaring example. Company is still in business and as an when they have something to share with the shareholders would put out news in the normal manner. Holding your patients is the best in this situation.

[stockyupydowny]

What news is expected??

[stocksplit123]

Be patient, it will recover much higher, buy some more

[lucky, mydog]

if etrade bought it for you, they can not refuse to sell it. call them.

[scoobie420]

Etrade wouldn't let me sell yesterday. Guess I will just hold to see if it comes back some.

[stocksplit123]

Just went green! Let's have a great day, this can make big moves

[stocksplit123]

Buy buy buy ! News coming

[stocksplit123]

not bringing anything, just making an observation, some can do well on the greys, we will see.

[lucky, mydog]

lolol. that pile of worthless shit. this will likely be as successful. no interest, no buyers, no shareholders, no nothing. try bringing a success story.

[stocksplit123]

Take a look

[joeeasy]

What's the trading volume at .028?

[stocksplit123]

yeah and here is an example of a suspended stock trading on the greys currently, it is an Marijuana stock CBGI, October of last year at .0005 on the greys, 6 months later it is currently at .028 , so there you go, so encouragement. that is over a 5000% increase from its lows

[lucky, mydog]

what's the diff!

here's the diff. if you study the history of suspended stocks you will find out that daily volume decreases in time and the stock becomes virtually illiquid. some go faster than others but almost all have the same fate. the best time to liquidate is always in the first week.

[Skittles9]

I only had 2400 shares and I planned on losing it all; so now by keeping for 3 months or so, what's the diff! A loss now or a loss in 3 months, NO DIFF! I called at 9:30 just to see; 5 cents. I did see it went to .25, but still would have taken a beating. Hold'em and see.

[flaflyersfan]

stinger10878, the 10-Q came out today for IMMG;

https://www.sec.gov/Archives/edgar/data/1564273/000164033417000768/immg_10q.htm

No revenues; ever.

Good luck.

[1manband]

I can see that SEC is bulls#it, and suspends stocks that are touted, and company isnt even aware of it

No, that claim by the Company is BS. And the SEC knows it.

Paid stock promotion has one purpose, and one purpose only. To increase buying volume in the stock to allow those that paid for the tout to dump their stock. Since the Company is the one that issued the block of stock to the touters in the first place AND has to approve the removal of the restrictive legends on those shares before they can be sold, the Company knows EXACTLY what is going on. Their claims that they don't are not believable in any way.

[lucky, mydog]

you may have missed this part.

because of concerns
regarding the accuracy and adequacy of information

in sec speak, that means they think the company is lying.