I am talking about relying on the information in the January 3rd 8K....
Effective December 29, 2013, PeopleString Corporation (the "Company"), a Delaware corporation, entered into an Asset Purchase Agreement (the "Agreement") with Michael Cook, Kyle Tracey and Vicki Tracey (collectively, "Seller") whereby the Company acquired all of Seller's right, title and interest to "HIVE Ceramics" a non-porous, 100% all natural, non-corrosive, chemically inert, medical and food grade line of ceramic vaporizers (the "Product") in exchange for the issuance of thirty million (30,000,000) shares of the Company's common stock to Seller due at closing of the Agreement.
Entry into the Agreement was approved by the Board of Directors (the "Board") of the Company and by a majority of the Company's shareholders by written consent effective December 24, 2013.
Listen to the 420 Investor interview. Kyle knows they screwed up.
As far as overvalued... with 37 million shares outstanding at $4.70 a share... that gives PLPED a market cap of $173 million dollars. That is what I call overvalued. This will start to look reasonable at around a $1.50 a share and a $55 million dollar market cap.