Makism (MDDD) Files to Go Public on OTCBB - Is it a Scam?
Well we have had a lot of companies go public as of late around the 3D Printing industry. Most want to take advantage of the buzz that the 3D Printing market has been getting lately. After all stocks like DDD and SSYS have gone up 300+% in the last year or so. The latest company to file to go public on the OTCBB is Makism, which will go by ticker symbol MDDD. If anyone is familiar with the OTCBB, it a stock exchange usually for small companies which can afford, or simply don't want to have to obide by the strict SEC requirements that a company on the NASDAQ would have to. A large portion of OTCBB stocks are in fact elaborate scams which end up dumping shares into the public float in order to pad the founders pockets. OTCBB stocks are usually penny stocks or companies which do not have good credit ratings.
Having said this, MDDD shows many signs of being a flat our penny stock pump and dump. Be careful. This is what nanalyze had to say about the stock:
Quote:
When looking at the potential of a company, investors expect to see an experienced senior management team that can execute on the company’s vision. Makism currently has three employees; the CEO, the CFO, and the Secretary. 26 year old Luke Ruffell is the CEO and Chairman of the Board of Directors of Makism. Previously Mr. Ruffell was a director of Geoh Networks Ltd. and a director of Taper UK Ltd, neither of which appear in a cursory Google search. 26 year old CFO Mathew Lummis studied Business and Management while attending the University Campus Suffolk and for the past four years worked as the Facilities and Landscape Manager for Forest Camping Ltd., a campsite in the UK. 21 year old secretary Feroz Khan was previously the director of Bespoke 3D Ltd., a prototyping company, since June 29, 2013, and a director of AAKhan & Sons Ltd., a property company, since May 1, 2010.Investors who are considering Makism as an investment option should ask themselves what they are purchasing when they buy shares of this company. Based on the recent 8-K filing, it appears investors would be buying an ambitious business plan, an inexperienced management team, and around $16 thousand dollars in cash, all of which command a current valuation of around $85 million dollars.
All in all they could be legit, however I wouldn't be selling my SYSS or DDD stocks to get in on this one any time soon.
