It's No Skin Off DAVI's Nose If You Lose Money
There's a slew of new campaigns beginning today and it really takes some guts to be pushing some of the garbage that you are expected to be buying into
One of the new campaigns that particular gives us a tickle today is that of Davi Luxury Brand Group (MDAV). This is the second time that the grandson of Robert Mondavi, the famous winemaker, has tried to play off his family name to market a skincare line made from grape extracts. This is also the second time he has taken over a shell to market a stock based on this failure of a business. The first stock (DAVN) was allowed to quietly disappear into the abyss, after the insiders cashed in on the hype created thanks to the Mondavi name. Now grandson and his partners have taken over another shell, changed the name and the symbol to MDAV. Until today, it seemed that this stock was also destined to disappear into the night.
Investors who jumped into MDAV on the reverse takeover have lost almost all of their money, as the stock, which traded in the dollar range for a few months, has since fallen to the current two penny levels. For some reason, and in spite of no company news since July, a Pump & Dump campaign was commenced today. What we do see is that the company's last filed 10-Q which reports $134K in the bank and $90K in liabilities. We also see losses of $190K on revenues of $68K for the quarter ending June 30, 2011. And in spite of the touts' claims that there are less than 30 million shares in the float, the company reports 75 million shares issued and outstanding.
MDAV seems like the classic case of fool me once, shame on you; fool me twice.....well you know.
www.pumpsanddumps.com
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