WHY DID DOMK Change CEO? DoMark International, Inc (OTC: DOMK) (Penny Stock: DOMK)
DoMark International, Inc (OTC: DOMK) made a big announcement Friday morning and the stock traded record volume $5M+ then after the close the CEO resigns??
This article has been updated: http://www.otcmagic.com/what-happened-to-domk-otc-domk-nasdaq-domk-penny-stock-domk#comment-2485
Anyone with an eye on Penny Stocks has seen the incredible rise of DoMark International, Inc (OTC: DOMK) recently hitting an intra-day high of $4.88. The driving force behind this massive volume has been a multi-million dollar online promotion. The landing page used for this promotion is:
Friday was an interesting day for DOMK indeed; at 8:30 in the morning they announced that that their wholly owned subsidiary; SolaWerks had received the first order of production units and were preparing for shipment. You can see the PR here:
This news was enough to drive DOMK up 13% and trade $5M in dollar volume; huge for any Penny Stock. Right after the close the company filed an 8k announcing the resignation of Chairman and CEO Michael Franklin.
This smells funny to say the least and does not bode well at all for Monday; we think DoMark’s promotion is nearing an end anyway and the stock has already seen its all time highs. Late Friday DOMK announced the appointment of Brent Strasler as new president and CEO of DoMark International, Inc. You can see the PR here:
DoMark International, Inc.
Brent Strasler, President and CEO
Anthony Gebbia, COO
William Seery, CFO
SYMBOL: OTC: DOMK
Shares Outstanding: 37,566,798
Market Cap: $121,340,758
As we have said many times, once the promotion is over DOMK will fall quickly. Currently trading at a $120M market valuation DOMK has no revenues and high operating costs. All this is besides the point, these heavily promoted stocks almost always end badly for investors. Expect DOMK to trade well under $0.50 within the next 2 months.
It is also important to note (a big thank you to Peter for pointing this out) that there are 50,000 preferred shares convertible into 1,000 shares each; 50M new shares which is more then the entire OS
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