Nunaka and everyone.
IGEN is on par with most OTC schemes. They post revenue but as usual the cost to operate is higher leaving them in debt. I also question where any revenue even comes from or if it is even valid on most of these OTC’s.
AN OTC can post revenue in the form of an association with out the funds being registered on the books. Meaning an OTC scheme can have a non-member associate form a new corporation and that person can state they did $2,000,000 in revenue and if the public company owns 40% they can post they have revenue with out the required accounting methods. It can be false data but no one at the SEC regulates this and as long as you pay the OTC fees they also do not validate the data sent to them for public view. The OTC has no authority, they are just a free enterprise website that charges tickers to advertise there. And the OTC is also publicly traded and some of the biggest auditors are very savvy and know how to allow an OTC to post revenue with out taking in one penny.
The test of all tests is to just call the company and pretend you want to buy the products they sell. Most will say they are not ready yet (even though they claim they are already in various locations being used) and some say they only sell to industry professionals to stop anyone from proving they can't deliver and also fool you to thinking this is bigger then you thought.
Haven’t you noticed that almost all these schemes have a plan that is so large that it negates anyone of you from buying the products they claim? And it’s always in some remote location you can’t even go visit.
Lithium mines in Greenland, Gold mines in Peru, Diamond mines in Canada and so on. And none of them offer anything other then news of great things to come and no means to buy what they claim they produce.
One thing to watch out for is the new age of marketing and non-paying franchise or affiliate programs like cloud or app programs.
What I mean is a company (long ago) that imports and distributes cell phone supplies (AKA the old ticker GXXL) Atul Mehta if anyone recalls. During the height of the cell phone accessory craze, he launched a cell phone on line store that was going to enter the cell industry with “disruptive potential” and “vertically integrate the company to NASDAQ” If anyone recalls.
It took him 2 years and diluting millions of shares on a debt dump to launch the website. I found out in the coding all he did was take an existing distribution company that offered you your own website with your name and when you sold items they dropped shipped them and you make 20%.
After two years of me saying to everyone your all going to lose your money and was cursed out for saying that, I called the distribution company and they sent me a link to the website to get my own cell phone accessory site with my name (FREE).
I created a website name exactly like GXXL’s and made it a .net website and it was up and running in less than a day at no cost. I posted the link and investors saw two identical sites the same name but one was .com and one was .net and sparked a mass of outrage that I was taking away sales from the company they invested in.
Can you believe that! Now it’s my fault their investments were in the gutter. I guess it’s always easier to blame others then themselves.
Regardless the company folded and one thing that was even overlooked by everyone is the companies registered address was the college dorm address of his son in California.
Atul's dream was to own a cricket team and he needed lots of cash to finance that and what better place than to debt dilute shares on a website that any of the GXXL investors could have set up for free in one day.
IGEN is spending more than they make, you have to ask where is that additional capital that is used for pay and compensation coming from if revenue does not cover that cost.
IGEN also went through the ticker change process as expected. This further proves why the OTC never loses tickers when one folds, they just re-appear a new reversed ticker after the pumped scheme runs it’s course.
My guide on all this will be published soon and a corresponding website will be launched with all the data and also a question test for any ticker that when answered yes or no will reveal the level of a point system from 0-100 with 0 being “burn your money” etc.
The one factor about all these schemes is you never find them on your own. It’s always a hot tip from others public posts or some email or PR or friend.
My opinion which is also a fact is, If the stock is $.10 and going to explode to $2.00 (Like SGMD did) why are those telling others to buy it when They should be buying it all and keeping it quiet? All they are doing is creating more investors who will sell and kill the price and ruin what they claim to be buying. That is proof those telling you to buy do not own even one share.
If you went to a flea market and was digging through a box marked $.10 any item and you found gold coins worth $1000 each and see there are more in the bottom of the box, would you yell to everyone at the market, Over here everyone there are gold coins in this box” Hell no.
So if those pumped schemes are so hot and going to explode why not keep it quiet and those who say they know that for a fact just buy it all?
Anyone saying to buy any given stock because it’s going to the moon, investors have to realize the moon is a ball of worthless dust with no value so you can assume the stock will also end up the same.
