The Paid Promotion Weekly Wrap Up January 2, 2022
More paid promotion in $BTCY, Medallion Financial Corp New SEC Complaint, Paid Promotion News/Filings
Happy New Year and I want to welcome the new paid and free subscribers that have joined this week. A reminder all of the new patent specific posts will move to my new Newsletter “Patent Pending”.
Only one paid promotion for the week with a major round of paid promotions in Biotricity $BTCY (195.5M Market Cap), which I covered for paid subscribers on December 27, 2021. I ended up receiving over 20 emails from four different promoters receiving compensation that I am aware of:
Jaks Fierce Analyst - $25,000 by an undisclosed party. A total of $117,500 has been spent so far promoting BTCY.
Broad Street Alerts / Traders News Source - $20,000 by an undisclosed party.
LionStockAlerts - $22,500 by an undisclosed party.
Insider Financial - $18,000 by Legends Media LLC.
$BTCY announced this week a $12M debt agreement and distribution of their Bioheart device on Amazon (with a $50 price cut).
The promotion and news worked for a few days even hitting $5.22 shortly after the opening bell on Tuesday morning. The stock then sold off pretty much the rest of the week closing under $4.00 right where it started before the paid promotion. I am very skeptical of this company, especially with the stock being the subject of aggressive paid promotions on a monthly basis.
The SEC has charged and filed a complaint against Medallion Financial Corp and its President/COO with engaging in fraudulent schemes to boost the stock price last Wednesday. The complaint alleges the COO paid for illegal stock touting to place positive stories about the company on websites such as Seekingalpha, Huffington Post, and TheStreet.com. There were allegedly 50 articles and hundreds of positive comments.
I am hopeful the SEC cracks down on the paid promotions that I cover, which the majority do not disclose who is paying for the promotion. If I was a CEO of one of these companies who was paying for the paid stock promotions I would be a little nervous.
Paid Promotions News/Filings:
The CEO of KULR Technology Group $KULR filed an 8K on December 30, 2021 disclosing a 10b5 stock trading plan was adopted. A Form 4 was filed disclosing the sale of 583,386 shares between $2.83 - $2.99. He still owns 20.6M shares.
A Director of Logiq Inc $LGIQ disclosed in a Form 4 filing the purchase of 15,000 shares at $1.85 on December 24, 2021.
FSD Pharma Inc $HUGE announced a share repurchase agreement for up to 2,000,000 class B voting shares from time to time over the next 12 months on December 30, 2021.
A new year and a new paid promotion teaser set to be released at 9:30am tomorrow morning.