“If it sounds too good to be true, it probably is.” This old adage is often ignored in pinkyland where false and misleading press releases are issued on a daily basis.
Yesterday's PR certainly fits. It is also so filled with holes that it is meaningless.
a Conditional Commitment Letter
from an undisclosed investment group
intending to provide the company with $10 Million USD in working capital.
If you knew the history and multiple failed business plans of Clifford Pope and IJJP, you would know that no one would loan $10 million for Pope to try yet another plan, much less a loan that is not tied to equity (not dilutive) and is presumably unsecured.
Read page 4 of the most recent disclosure form to see the unbelievably dilutive conversion rights of the Series A preferred shares that Pope issued to himself: http://www.otcmarkets.com/financialReportViewer?symbol=IJJP&id=75106Pope's preferred shares are now convertible into 3.4 BILLION free-trading common shares.
His priority is crystal clear -- cash in as many shares of IJJP as he can for personal profit. IJJP is nothing but a personal ATM machine. Pope even gags the TA so people can't verify the actual share structure. I wonder what it is today after over 300 million shares traded in the last two days.
PRs can stimulate buying but when you have a CEO and other insiders dumping new shares onto the market, they don't profit those buying them.
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