$800,000 hard mailers could push IMNG far!
iMing Corp. (PINK: IMNG) took off in the beginning of December on massive volume. The stock easily surpassed $1 level and then dropped some. IMNG took off again in the first week of February on massive volume and looks to be headed back over $1 The stock has been heavily promoted by an $800,000 hard mailer campaign from Legendary Stocks and others.
I have included a screen shot of the hard mailer from LS; Investors may remember MAXE their previous pick which also started well under a dollar and topped out at a high of $1.59 per share.
According to them; iMing Corp is positioning its self to be a leading technology solution provider of set-top boxes (STB) which supplies high-definition television through the Web (Web TV) in China, with the goal of being a leading provider of set-top boxes through-out Asia and expanding into North America and Europe.
The iMing's Set-Top Box can play source files from USB, SD/MMC card, SATA or an internal 2.5"storage installed into the Web TV Box. By supporting the latest format 1080P Full HD decoding, SPDIF.7.1.DTS decoding and HDMI 1.3, the iMing Web TV Box brings superior quality and flexibility to consumers home entertainment experience. The technology used by iMing makes its productive competitive with the other industry players such as Google TV, WDTV, Apple TV, Roku and Boxee Box.
Currently iMing Corp is doing around $30,000 in sales per quarter and is on track to do around $150,000 in revenues for 2012. The Company has $100k in the treasury and has been losing money since inception. None of these numbers are audited as IMNG is pink.
Conclusion: Currently trading at a market valuation approaching $70 million IMNG has little assets and minimal revenues at this point. What they lack for in fundamentals they more than make up for in exposure with the $800,000 hard mailers hitting mailboxes across America IMNG could easily move significantly higher in the short term. Long term IMNG cannot maintain its current market valuation.
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