12 Apr Pingify International Inc (PGFY) – why this unknown ticker should be on watch
Pingify International Inc (PGFY) was not even a blimp on the radar before April 11, 2014. What brought the ticker to our attention today (April 11th) was some very in depth research we were conducting as a way to try to spot the next stocktips pick before the pick was announced. We peeled back the layers even further this time to try to once again stay one step ahead of the best penny stock promoter on the block and found a very interesting clue that points towards Pingify International Inc (PGFY) as a very strong possibility for the next Stock Tips pick due out any day now. This will make the 4th Stock Tips pick in a row that we found early ahead of the announcement.
Rather than reveal how we came about this conclusion and risk stocktips picking up their game in the future we'll keep the details about what lead us to PGFY a secret. What we will do is take a closer look at the set-up and current situation surrounding PGFY.
Pingify International Inc is an Edmonton, Alberta based company that was set-up as a Nevada business on January 24, 2012.
Jason Gray held the position of president, CEO, and director and was issued 25,100,000 shares of stock at $.001/share valued at $25,100. Jason Gray also assigned all the rights to pingify.com, pignify.net, and all related Ping Me! software code as described in his United States provisional application for a patent filed on July 26, 2011, Serial No. 61/511,687 to Pingify International Inc.
Vlad Milutin held the position of treasurer, CFO and director.
From January 2003 to August 2009, Jason Gray was the IT Manager for Bardel Entertainment. From 2009 to January 2012 (when Pingify International Inc was founded) Jason Gray was focusing his attention on the Mobile/Online Market and developing the code base that is now part of Pingify International Inc.
From April 2011 to February 2012, Vlad Milutin was Director of Business Development of MobileIron, a Mobile Device Management company located in Mountain View, CA. From November 2010 to January 2012 he was assisting Jason Gray with the Pingify project.
What is Pingify?
Ping Me! is an application that brings together buyers and sellers of goods and services. The idea is that buyers can contact sellers and sellers can be contacted by buyers via a method known as a Ping.
A buyer can set up specific needs they are looking for and when a product or service becomes available that matches their needs they would be Pinged on their phone or smart app device via the Ping Me! app. The same technology could also be used to notify an individual of website changes. The idea is to shorten the process of having to log in your email or other multi-step processes that are currently used to notify individuals of changes to products/services and web pages. Ping Me! will provide its notification service in real time.
At the time Pingify International Inc was formed, Ping Me! was still just an app that existed on paper. It was not available to the public yet. The plan was to file an S-1 to take the company public and to register 25,000,000 shares for sale at $.005/share to raise $125,000. The $125,000 would then be used to pay all the necessary fees to take the company public and begin the forward looking business plan to make the application available for use by the public.
On February 14, 2012, Pingify International Inc filed that S-1 form. The attorney helping with the S-1 filing was Frederick C Bauman Esq. Mr. Bauman started becoming an active penny stock S-1 attorney in 2011 and has a handful of tickers to his name that we are watching for possible future paid promotion action.
The S-1 was approved on April 13, 2012. Almost exactly 2 years ago today. Pingify International Inc was given the trading symbol PGFY.
Between 2008 and 2012 it was very common to see shells taken public then used to only sell a small fraction of the registered shares as a way to intentionally fail at the forward looking business plan. A large forward split was then later used in coordination with a merger/acquisition agreement with a "more real company" to increase the seed shareholder shares to any where from 20,000,000 to 200,000,000 free trading shares in preparation for a future paid promotion.
The whole scheme became way to common and obvious so some new S-1 filings are taking a different route. They are now taking the "more real company" public and selling all of the registered shares right away avoiding the giant "look at me" red flag that comes with the big forward split. PGFY may be an example of this new generation paid promotion ticker.
After going public, between July 2012 and January 2013, PGFY ended up selling all 25,000,000 of its registered shares to some hand picked anonymous seed shareholders raising the full $125,000 needed to move forward with the forward looking business plan.
Curiously, PGFY also hired a new director from Greece named Panayota Baris in March of 2012 just ahead of the public offering. Ms. Baris had no experience with publicly traded companies and had no IT background. Since 2008 she had been self-employed in the area of Aesthetics which is basically described as an interest in nature and the appreciation of beautify. This researcher is left wondering if Ms. Baris was just hired because she was a foreign resident which could come in useful in finding nominee foreign shareholders to hold stock in name only for an anonymous insider that may later end up using PGFY for a paid promotion to sell those 25,000,000 shares and make a ton of money.
We have seen this whole set-up used many times in the past. A foreign nominee officer/director is used to find foreign nominee shareholders to hold stock in name only. That stock is then put in the hands of dirty brokers who sell those shares during the paid promotion with the instructions to transfer the proceeds to offshore bank accounts secretly controlled by the paid promoters and other anonymous insiders.
What Progress has been made with the Ping Me! app?
We know that PGFY has a paid promotion set-up with 25,000,000 free trading shares held by anonymous insiders, but it takes more than a paid promotion set-up to sell shares - it takes some kind of business operations that will sound and look good on a landing page or a spam email or a hard mailer.
PGFY launched its app on itunes in May of 2013. The app can be downloaded here.
Despite launching the app for Apple users almost a full year ago, PGFY has yet to generate and revenues from its product. PGFY has also received mostly negative reviews on the product from its limited number of users.
The application has yet to launch for Android users.
In all honesty, though the business plan may sound good, PGFY has very very little to brag about when it comes to accomplishments to date. That means if PGFY is promoted it will have to be promoted with a strong focus on its future potential rather than its current achievements.
Focusing on future potential is exactly what this 24 page "Investor Kit" found on the PGFY website does. On page 22 it puts projected future revenues at over $9 million for the fiscal year ending January 31, 2015.
We find out at the end of the Investor Presentation that it was authored by a 3rd party Investors Awareness group known as Equities Awareness Group (EAG). EAG which has also been known as Stock Brainiac in the past has been involved in dozens of paid promotions over the past few years only adding to the possibility that PGFY could see a future paid promotion.
So is PGFY the next Stocktips pick?
The set-up makes it seem possible with a foreign director and 25,000,000 seed shareholder shares waiting to be sold to the public. Past stocktips promotions AMMG, PGLO, and TGRO also had close to 25,000,000 free trading shares set up to be sold during those paid promotions.
PGFY is a fresh ticker with less than 250,000 shares traded in its history. Fresh tickers make the best paid promotions because more of the float is controlled by the insiders making it easier for them to control the early price action.
Everything else about PGFY falls far short of the standards we might expect from a stocktips promotion. The subpar application would be a tough sell for a paid promoter. If it wasn't for one big clue we unearthed while digging deep into the stocktips website I would have never even thought about PGFY as a possibility.
If PGFY is promoted by stocktips I would not put it past stocktips to turn this unimpressive app company into the hottest penny stock on the market - they are just that good.
Past tickers promoted by stocktips that had similar sized floats to PGFY like AMMG, PGLO, and TGRO all started in the $.22 - $.35 range so that is where we would most likely expect the PGFY promotion to start assuming it does end up being the ticker. The other stocktips promotion, WPWR, had a float of 48,750,000 which is why it was started from a much lower price.
PGFY currently sits at $1.00/share so if stocktips does not come out with their pick some time over the weekend then it will be important to wait on PGFY to see the price come down to that $.20 - $.35 target range. Since there is no way we can be absolutely sure that PGFY will be the stocktips pick it is important not to jump the gun and buy too soon at too high of a price. We could see some big blocks go through at some point (probably close to the close) pushing the price even lower than expected. Big blocks and a sudden price drop some time early next week ahead of stocktips announcing their pick would be a very reassuring sign that PGFY could end up being the pick.
If stocktips does anything else prior to announcing the pick that can help confirm PGFY or any other ticker as the next stocktips pick we will be sure to alert all of our members immediately.
Lastly, and most importantly, it is absolutely crucial that no PSS members share PGFY or any other tickers that we may mention in the future as a possible stocktips pick to anybody that is not a PSS member. The more people that know about potential future paid promotion tickers before the paid promotion the more harm that can be done to the promotion and to individuals that decide to buy the stock before the promotion. Too much front loading raises the risk of a shake out or of a pick being cancelled or changed at the last minute. The less attention given to PGFY before a paid promotion the better.
See the chart below for more detailed information about the last 4 stocktip promotions.