I have looked at this company to invest in, but cannot get comfortable with the following facts. Can anyone resolve this for me?
1. SEC Filing
On 12/16/10 former Pres and Director Shane Whittle cancelled 4.885 MM shares of common stock to drop his holdings reportedly below 5% ownership.
2. Whittle then beneficially owned 2.489 MM shares after this cancellation transaction.
3. Mr. Whittle provides a Vancover address in this filing and when you google map it and then look at a picture of the building..it is nothing more than a Mailbox Etc / UPS store that likely serves as his address. The other businesses at this location do not look like an office address.
I cannot reconcile what is going on here. Has anyone done sufficient due diligence to provide some answers?
Thanks much. I would like to invest, but want to know the realistic risks. I have been a victim of a pump and dump before.
Correct me if I'm wrong but I see a "disposition" of 4.8 by Whittle on the 16th and 24.0 by Oneill on the 15th. Looking at the Chart- aren't these buys that cause a sudden jump up? Seems to me that the floor become very low if either these two sell.
There are no fundamentals to research with this company-otherwise it would be very apparent. What you need to understand is small share float and probably a high short interest given the recent run up means it goes higher. The difference here from NFLX, WFMI, CRM and CMG is that this company has no actual earnings and is up on technicals and manipulation.
>This business is new, you can't apply the same analysis you would with a large established co.
The company is 2 years old and lists NO revenue, doesn't list ANY cash, claims to have $38K in debt, yet has a market cap of $144MM.
A 2-year old public company should be giving a lot more information about their finances.
There must be a business plan and a model to produce revenue. JAMN has neither.
You cannot capitalize a corporation on a prayer and expect a return on an unsafe investment -- basically, if this is your approach, you are using this security as a spot on a 'craps table' and just playing the momentum.
Problem is, when the momentum stops, there will be no one to sell the stocks to and you will become the 'bag holder' of a great deal of worthless paper.
I recommend you sell before you become one of the last fools holding this worthless paper.
( If the company were to provide other data, I might change my opinion, but right now...those are the facts - Jack..)