Is Industrial Nanotech (INTK) a Pump and Dump?
When evaluating the potential of disruptive technologies, it is equally important to caution investors as to what they may not want to invest in as it is to make them aware of potential opportunities they may want to invest in. In a previous article titled “The Dangers of Investing in Over The Counter (OTC) Stocks“, we provided a number of examples where companies used the word nanotechnology to promote themselves and consequently lost investors all their money. One of the companies we highlighted in this article was Industrial Nanotech.
There isn’t much to say about Industrial Nanotech (OTCMKTS:INTK) since the company provides no financials, and no information about their management team. One thing is for certain. Investors in INTK would have lost 93% of their investment since the company started promoting their “nanotechnology” value proposition in 2005.
INTK has risen 90% in the past two weeks on the back of several recent news articles on various media outlets proposing that Industrial Nanotech will bring a next-generation roofing product to market in early 2014. Investors should be wary of a company that publishes promising press releases but never delivers. The company has been touting their “Nansulate” product for the last eight years without realizing anything tangible as a result. In 2005 the US Navy expressed “interest” in Nansulate Coatings, the steel unit of Hyundai Motors was said to meet with an INTK Asian distributor, the product was tested by a leading HVAC manufacturer, the company entered a final testing phase with an “energy giant”, and INTK partnered with a “national industrial coating contractor”. All of these promising press releases made in 2005 make up only a small part of all the press releases issued by INTK in the past 9 years. Just in the past 4 years, the company has issued over 115 press releases.
In 2009, Industrial Nanotech listed their company representative’s contact info on their press releases as the Cervelle Group, a company taken to court for illegal mass faxes to pump five different companies. In the Nanalyze forums around that time, a very heated debate was had concerning the legitimacy of INTK. At this time, the company had published financials showing total assets of only $136 thousand dollars with a market cap of over $9 million dollars. While the company continues to move their stock price with press releases, it remains to be seen if investors will ever see any tangible results coming from the avalanche of press releases released by INTK over the years.
Investing in the world's most expensive paintings will provide protection during recessions. Why? Because fine art isn’t correlated to other more popular asset classes like stocks or bonds. Now, anyone can invest in paintings from names like Picasso, Monet, Renoir, Degas, Matisse, and Warhol. Investors of all sizes are lining up, but Nanalyze readers can jump to the front of the queue here.