This Penny Stock Pump & Dump’s Largest Shareholder Owns 100+ Million Shares…& He’s Selling!
Posted by Timothy Sykes on Fri 18th of Sep, 2009 11:16:25 AM
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By Now I think I’ve posted quite a bit of proof of how Genova Biotherapeutics, Inc. (GVBP) is a giant pump & dump:
-they were a former travel company and now only have $35,000 in cash in the bank
-they’ve put out more than a dozen PRs in a week, LOL, all fluff (can a former travel company with 3 patents they bought for $75,000 really cure cancer? Hmmmmmm)
-the CEO was a former video game executive, you can see his video here
-GVBP’s business “partners” have the same address and shares many of the same people
-GVBP’s NY address is the same as an old penny stock spammer, hmmmmm
-and they paid hundreds of thousands of dollars to stock promoters to pump up their stock price
Well now, according to an SEC filing from yesterday, it turns out that one of GVBP’s largest shareholders, a guy who owns 100+ million shares, apparently all freely tradeable?!?!?!?!?, has begun selling his stake, 2.5 million shares so far:
Who wants to guess we see more sales form him in the coming days…anybody? anybody? Bueller? Bueller? After all this one Vancouver-based dude (Vancouver is the capital of all that’s rotten in penny stock land) is sitting on $50 million worth of stock at current prices….must be mighty tempting to cash in $50 million on a company that has only $35,000 in cash and no real business.
TIMalert subscribers know I added to my position this morning and am sitting 30,000 shares short at an average of 49ish cents/share, which I think is pretty good considering this stock was under 10 cents/share earlier this month…waiting for the usual fade that we see over and over again as I discuss in these 3 FREE videos and in my comprehensive instructional DVD packages, the SEC to halt the stock or for this one guy to continue selling his monstruous position for cold hard cash
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