Sino Payments Inc. SNPY
Great company! Im holding 7000 shares =]
Get in now before it really sky rockets.
It's getting promoted and the chart is decent so it has a chance. But just remember to pay yourself if you end up in the green at some point, cause this no revenue, more debt than assets company will crash after they inflate their share price so they can sell some shares to raise money to either pay themselves a fat check or if you're lucky actually pay off some of that debt.
The company and $0 cash in the bank on their last SEC 10-Q filing. Not exactly a stellar investment. Worth a trade though as long as suckers keep buying it up and the uptrend continues.
Also the Lee's (Chi Ho & Raymond) that are the directors of SNPY have another relative (Benny Lee) running their "TAP" group, which they claim to be doing business with. That is a conflict of interest as they gave TAP 1,000,000 shares. Keep it in the family I guess. Funny thing is, I can't find anything on TAP other than when Sino Payments mentions them in a Press Release. If TAP really had 20,000,000 customers as SNPY claimed they did, then TAP would have some information about them somewhere on the web.
Again, just be careful playing these POS stocks. You can make money off of them if you know what your doing, but as soon as you start listening to all the crap the company is spewing, you'll get suckered in only to much your money slowly slip away when the insiders/promoters start to dump.....
Caveat Emptor.....
Wow thats astounding! Im shocked really, I was unable to find any of that about them, what sites can you recommend a newbie trader? I use barchart.com, stockta.com and pennystockrumble.com, I also like to think I am good at finding anything with google and was unable to find anything negative about this company, they must be doing a good job keeping it under wraps...
Tough to short a .05 cent stock. Needs to be at least .20, and then borrows will still be freaking expensive.... But Speed/Sure/IB might if you beg them to get you some. I just doubt the rates will be worth it.