Ive bought and traded this stock a few times several months ago and made some money. With the PPS down i figured I would try to buy low and sell high again. It is a young company with a big idea and could possibly do thousands if not tens of thousands percents gains.
As the more due diligence I did for the last 5 hours, something just didnt feel right. The companies numbers looked decent and profitable, The company is expanding, They hired one of the best PR teams, a Doctor, and claimed to hire more software developers. I did research on who Fouch was. I looked up Emotiv, Their self claimed STRATEGIC PARTNER. Everything checked out. What made me suspicious is the fact that Fouch in the video interview looked very suspicious and like a madoff. Every publicity he can get he always mention the stock. The first thing you see when you look at the website is the stock quote and all the great Press release about the company. This raised a red flag for me. I realize that he just wants to capitalize on the Emotiv side of business. He kept claiming that they are strategic partners when Emotive produces the patented headset, their own software and developers kit. Anyone that know a thing or two about software development can do what Fouch is doing. Any gaming company(Electronic Arts), software company(Microsoft), or some kid in the garage as long as they purchase the development kit from Emotiv. There is nothing special to Jedi Mind Inc. Emotiv is the company that profits from the headset and licensing and royalty. Jedi Mind inc Fouch wants us to believe he created the headset with his degree in psychology and his studies in Neuroanatomy.
If you break the company down Fouch is in the business to make big money on the Stock side from all of us. As of right now, hes barely making anything with Jedi Mind inc, if not cooking the books with money from selling stocks of the company. This looks and smells like SpongeTech Delivery Systems, Inc to me.
The volume is low, The trades are low for a penny stock, This is a no go and I would sell.
