Indo Global Exchanges Pte Ltd (IGEX)

[livingston78]

Indo Global Exchange(s) Pte., Ltd focuses on providing Web and phone based trading and portfolio management platform in Indonesia but as you can see in the income statement, they don’t provide a lot. This one has $1,497 in assets and $443,084 in liabilities. The float is not available, they keeps creating shares on a YOY basis and had a recent reverse stock split. Don’t get fooled by the last news that IGEX has secured $500k of new investment funds, look at the chart and you will see that some people have been front loading in the past days, manipulated the price on the up side and are ready to unload worthless shares on you. Take last session for an example, 8,57% up with only $19,069 involved in transaction in 60 trades. This is manipulation!