SKTO jumps on the Medical Marijuana Gravy Train!
Update: SKTO made a spectacular run earlier this year in April and May and we were reporting on it since well under a Penny. Since then the stock fell well under a Penny before reversing off the $0.003 and exploding to current highs near $0.02.
SK3 Group, Inc. (PINK: SKTO) has made a highly explosive move up in recent trading sessions from a start point of $0.0002 to recent highs over $0.07 Currently trading over $0.02 investors are hoping for another leg up. The Catalyst for this spectacul run was the recent news titled SK3 Group, Inc. Announces Acquisition of Medical Cannabis Company.
As NoDummy pointed out on Ihub SKTO which until a few days ago was illiquid at triple 02 is a Robert Hipple / Henry Jan co with a long history of dilution. Smartly they recognized that junior medical marijuana penny stocks were gaining huge attention which they could greatly profit from.
On March 11, SKTO announced that it has acquired Medical Greens (TM) and has changed its business model to focus purely in the medical marijuana space. Medical Greens (TM) currently provides licensing, management, and logistic services for Medical Marijuana collectives throughout California. In 2013 alone, Medical Greens (TM) has already contracted over $12.5 Million in licensing and service agreements.
On March 13, SKTO announced that it has appointed licensing expert and former Executive of King World Productions, Kevin Allyn, as Chairman of the Board of Directors.
A. Mayor, CEO of SK3 commented "Each of the members voted onto the Board brings experience, a unique perspective and direction, Kevin Allyn has broad experience as a senior executive and entrepreneur in entertainment, television, film, music, sports, licensing, and talent management. Kevin has also been an advisor to a variety of companies both private and multi-billion dollar public companies. Mr. Allyn was also one of the presidents of King World Productions, one of the most successful television companies in history. King World is the leading worldwide distributor of first-run programming, including the two highest-rated, first-run strips in syndication, WHEEL OF FORTUNE and JEOPARDY, as well as OPRAH, CSI, INSIDE EDITION, DR. PHIL, EVERYBODY LOVES RAYMOND, HOLLYWOOD SQUARES and THE LITTLE RASCALS. Mr. Allyn's legendary list of contacts, his ability to innovate and his management expertise allow us to form a team that can scale effectively into this lucrative market."
Conclusion: The Marijuana association is a winning formula no doubt and SKTO has milked it to the max over the past few months probably netting millions for the principals. The stock was recently slapped with the caveat emptor designation from Otcmarkets which certainly does not bode well for the future. If you are looking to get in on the junior marijuana penny stock gold rush you can find better than this one.
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SK3 Group, Inc. (PINK: SKTO) was incorporated in the State of Delaware on January 14, 2000 under the name CTT International Distributors Inc. Since then the Company changed their name to SK3 Group, Inc. and look set to change it again to Medical Greens.