Mike The Pike Productions Inc (MIKP)

[Just1MoreUpTick]

I’m sorry, but this is another ridiculous company… with a ridiculous name… and anyone who invests in this stock can label themselves ridiculous too!

Mike the Pike… More like Mike the PIKER!

Here we have a stock that’s trading for less than a penny a share… actually it trades for 4 tenths of a cent. Look folks – no respecting company is going to let their stock trade at these levels.

I get the attraction though… buy a boatload of stock for less than the cost of a cup of coffee.

But your money would be better spent on coffee – at least you’d get something for your money.

A little digging on this company makes me sick…

They have ONE BILLION shares authorized. Sure, why not. I mean IBM has 1.2 billion shares outstanding… they’re almost in the same league… right?

But wait, it gets better…

According to the information they post to the OTC Markets website (remember… this IS NOT the same thing as reporting to the SEC), they have a whopping $11,878 in cash.

Fat times right… not so fast.

The company also reports more than $429,235 in current liabilities and more than $686,834 in long term debt.

If you’re quick on the math, they owe $1,116,069.

That’s more than a million dollars in debt. But don’t worry, in the first quarter of 2011 they posted a net income of $13,703.

At that rate, it’ll only take 20 years to pay of their debt.

I can’t look at this company any further. So who actually thinks this company is a good investment?

None other than Mr. Penny Stocks himself. Who’s he?

Don’t know, don’t care.

All I know is they got paid $8,500 to send out an email saying their research suggests “…solid growth potential…”

Riveting analysis guys.

If you haven’t figured it out by now, keep your money in your pocket book on this one.