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Incoming Inc (OTCMKTS:ICNN) Gets Pumped

Incoming Inc (OTCMKTS:ICNN) Gets Pumped
Written by
Jarrod Wesson
Published on
July 24, 2017
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The stock price of Incoming Inc (OTCMKTS:ICNN), focused on biodiesel and other renewable fuels, spiked in July 2017 on unprecedented volume. Market participants on iHub posted large amount of assessments in the forum, which, we believe, increased the company's expectations. In this piece, we will review what can be going on with the company and analyze the financial statements of the company. Read the whole article, since the most important information is at the end of it. Have a look at the most recent share price action and note the volume; more than 3 million shares were exchanged on some days.SourceBusinessICNN is involved in renewable energy sources, such as commercial-grade biodiesel and other renewable fuels. Incoming Inc. is a US based firm, which is currently expanding into other South American markets, such as Brazil. The firm is specialized in Bio-diesel from the Agri-based feedstock, such as soy, canola, sunflower, cottonseed, and chicken/pork fat. The environmentally responsible firm aims at reaching new heights in the renewable energy business by developing a wide range portfolio. The firm was first established in 2006. Incoming Inc. acquired Foothills Bio-Energies, LLC, North American Bio-Energies LLC, and National Association of Professional Minorities. The management of the firm believes that the following acquisitions by the firm will help in achieving its overall objectives. Incoming Inc. is involved in commercial-grade biodiesel, but it expanded its market by the acquisition of firms, such as NABE, and Foothills Bio-Energies, LLC (Bio-energy). The firm’s revenue mostly comes from the revenue from related parties. In fact, the revenue generated from related parties is four times higher than the revenue from operations.Financial Situation - A lot of Properties and no DebtThe company filed its annual report forms during December 2016, and March 2017 respectively. We got the following information from those documents:Period Ending12/31/201612/31/201512/31/2014Current Assets (All numbers in thousands)Cash And Cash Equivalents11.4671.4960.344Short Term Investments---Net Receivables12.04657.4555.728Inventory25.8115.31810.352Other Current Assets5.2515.5314.104Total Current Assets54.567149.820.528Long Term Investments---Property Plant and Equipment549.839624.787695.496Goodwill---Intangible Assets---Accumulated Amortization---Other Assets---Deferred Long Term Asset Charges---Total Assets604.406774.587716.024SourceThe company has large amount of PP&E. 90% of the assets are properties. Have a look at the liability side:Accounts Payable (All numbers in thousands)599.582542.994583.195Short/Current Long Term Debt2.1763.28621.465Other Current Liabilities---Total Current Liabilities601.758546.28604.66Long Term Debt---Other Liabilities---Deferred Long Term Liability Charges---Minority Interest---Negative Goodwill---Total Liabilities601.758546.28604.66SourceUsing these financial accounts, we could obtain the following financial figures. The net asset value per share is 0.017 for the year 2017, whereas it was 0.018 during the year 2016. The total assets of the firm were reduced by over 11%. Class A and Class B common shares outstanding for the firm remained constant for the year 2017 at 31,774,332, and 1,980,000 respectively. Social Media - iHubWe believe that the increase in social media could explain part of the volume seen in the stock chart. Have a look at the following table, which shows the amount of posts uploaded on iHub. Almost every day, forum participants shared their thoughts on what's happening.PostSubject< Older | Newer >#128ICNN looking better. Next run ahead let's seecjstocksup07/17/17 10:20:37 AM#127.06 - .08 Got loaded back to .30ALL-IN88807/17/17 08:15:46 AM#126Just browsing, will ck and see what isjoboggi07/15/17 05:48:04 PM#125Well if it get's cheaper I willcjstocksup07/15/17 02:24:32 PM#124prev close .023joboggi07/15/17 11:44:13 AM#123Patience today was day 1. Look up thecjstocksup07/14/17 04:46:09 PM#122good luck ur gonna need it, they alreadythreewheeler07/14/17 04:03:42 PM#121Shorts are covering now! they're stupid for notALL-IN88807/14/17 03:54:35 PM#120its a P & D sell while uthreewheeler07/14/17 03:51:52 PM#119Only 8 million Float crooks loading up @ALL-IN88807/14/17 03:48:39 PM#118What' happening to Interactive Brokers?rkrudt07/14/17 03:46:50 PM#117Double Bottom @ .077 should Bounce hard backALL-IN88807/14/17 03:38:22 PM#116Bunch of crooks who ran this P &ALL-IN88807/14/17 03:36:29 PMSourceWhat can be going on? - Market manipulationWe don't really believe that the share price movement could have been caused only by the activity in the social media. Something else must be going on. As we could not find anything significant on its investor relations website, we concluded that the share price increase should have been caused from external sources, not from the company’s announcements. Obviously, we were correct. We investigated further and found that the following newsletters and investment sites had pumped the stock:

We could find that the newsletters promised astonishing returns. This is only an example, we could find many more words like this:

Trading currently around .02 cents, this play could take off with a huge thrust today. We could easily see high triple-digit gains, maybe even more.Source

Hence, the volume was caused by market participants, who bought shares after reading the newsletters. Readers need to be very careful on this name, since the share price may collapse when promo dollars dry up. To sum up, the share price seemed to be growing because of the social media, and the financial situation. But, a more forensic investigation revealed that the share price is being driven by newsletter recommendations.We will be updating our subscribers as soon as we know more. For the latest updates on ICNN, sign up below!Image courtesy of United Soybean Board via FlickrDisclosure: We have no position in ICNN and have not been compensated for this article.

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