WRIT Media Group Inc (OTCMKTS:WRIT) caught our attention after we got emails from a newsletter called Great Penny Picks. The emails caught us by surprise because we never signed up for this newsletter. We were even more surprised when we went to unsubscribe because it said that we were unsubscribing from the BestAmericanStocks email list. Now this is a list we definitely know. Some may say that it is a famous list whereas we say it’s more of an infamous list.
BestAmericanStocks was part of the Elite Penny Stock Group. For those that are not familiar with Elite, they were the most powerful newsletter group on the OTC markets. Their websites included finestpennystocks.com, smartstockchoices.com, smartstockwinners.com, BestAmericanStocks.com, and many others. What made Elite so powerful is that they had a massive database of names and followers. They even have other newsletters following their picks and then trying to pass off Elite picks as their own. Elite would blast their list several times a day trying to get as many buyers into their stocks as possible.
Elite has left a trail of victims that only the Wolf of Wall Street can admire. Their last picks have been Broke Out Inc (OTCMKTS:BRKO), Cloudweb Inc (OTCMKTS:CLOW), AgriEuro Corp (OTCMKTS:EURI), America Resources Exploration (OTCMKTS:AREN), and Midwest Oil & Gas Inc (OTCMKTS:MWGO). Here’s a quick recap. BRKO got halted. EURI, AREN, CLOW and MWOG all left investors holding the bag.
The email from Great Penny Picks says that they were compensated $15,000 to publish their report. The email said:
WRIT finds itself at the perfect place, at the perfect time.
The company is not seeking to make its own cryptocurrency as it would be very difficult, time-consuming and not very profitable.
Instead WRIT is offering services that relate to bitcoin (and other cryptocurrencies currently on the market).
Customers of WRIT‘s platform can easily convert bitcoins into other currencies and vice versa, moreover they get loyalty rewards, easy portfolio management and other benefits.
At this time, bitcoin still uses an old system for transactions but it doesn’t have to be that way anymore thanks to WRIT‘s Pandora platform.
Instead of dealing with random strings of numbers (like 17453244 ) to interact with other “wallets” the service will look very personal.
It’s somewhat similar to what paypal has done with “real world” currencies back in the day. Paypal sold to Ebay for billions of dollars more than 10 years ago.
With bitcoin having now cemented its place as a serious currency, investors are going to look for ways to use it more easily and WRIT‘s free platform is the answer.
Buy shares of WRIT today while it’s still cheap, right before the masses figure out what is happening and jump on, and remember, you heard it here first!
At the same time as the emails went out, WRIT released news that it had closed its acquisition of a controlling interest in private equity firm Pandora Venture Capital Corp. Per the transaction, WRIT Media acquired Pandora’s Pelecoin digital currency, proprietary Blockchain technologies, and digital currency exchange, which the company will use to organize trade in digital currency instruments. The press release said that “WRIT Media will utilize the marketing advantages of Pandora’s unique digital currency model, which has generated over half a million users in its first 18 months, along with the actual value of the most popular system of cryptocurrency, Bitcoin.” WRIT President Eric Mitchell added:
“Pandora has created two high-quality businesses, both of which have established an excellent industry reputation. We see this as a compelling opportunity to create further corporate value by leveraging management’s experience in managing complex transactions for diversified businesses with the software and technology expertise gained from Pandora’s extensive knowledge and investment experience in the software and digital currency industrial sectors.”
Currently trading with a market cap of $3.5 million, if WRIT has anything to do with Elite, it will end badly for investors. However, at this time, we can’t say for sure if it is Elite or not. The emails are certainly similar to the ones Elite had sent out in the past. It could also be that another group purchased Elite’s list. So far, there is a little more substance to WRIT than past Elite deals. Actual deals are being signed and the company hired a bona fide investor relations firm in Quality Stocks. Either way, we urge investors to proceed with caution!
We will be updating Insider Financial as soon as we know more. For continuing coverage on WRIT, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: We have no position in WRIT and have not been compensated for this article.