Drill, you still have some promising OTC/penny stocks, not everything ends up like with SPNG.
SPNG has been disappointing. They seemed to have something good going, but sometimes greed starts to cloud good judgement and mismanagement takes over. We've seen the result. I had a nice position, sold them after the initial run-up, but was just waiting to get back in & then the NY Post article came out. Thank goodness for people who were waiting to buy, but it's sad to see so many small investors get burned!
Remember they were investing 5 million in GFGU - GetFugu. That's still doing good, but after the initial $ 1.75 million paid, GFGU discovered RM Enterprises, not SPNG, had made the transfer and was also shorting GFGU to get more shares for their buck. They didn't know who RM Enterprises was, but knew something was fishy, so the decided to cancel the arrangement and notified the SEC. These guys from GFGU are ex-Google. ex-Sony, ex-WB, etc. They evidently messed with the wrong guys.
Oww, and to prove there are still good OTC pennies, the CFO of SGAS - Sino Gas was @ Fox Business and those guys evidently are making money and growing +/- 100% per year. I quess it just shows that you need to be careful to fall in love with a particular stock and the bigger the hype, the more careful you should be.
I quess for the future I'll remember that when an OTC company actual advertises their ticker, they're probably growing/financing mostly through increase of outstanding shares, instead of through the product they're producing!
