We’re just past the mid-point of the month and the numbers are climbing for what appears to be the most heavily paid promoted OTC stock for May; Endexx Corporation (OTCMKTS: EDXC).
According to its public bio: “The company is a micro-cap publicly traded company, representing the interest of its shareholders and collaborating with independent software developers, scientists, engineers, and other companies to build businesses that can thrive collectively in the equity markets. Endexx’s team recognizes that individually small companies with new technologies have an extremely difficult time sustaining themselves as stand-alone companies. Through their collaborative practices, individual and group skill sets are better utilized to develop technology and grow the business, while centralizing costs and eliminating redundancies.”
Having said all of that, Endexx has shelled out over $112,500 to stock promoters since May 11 to hype the company and attract investors. Promoters enlisted include Stock Commander with a payout of a hefty $95,000. MomentumOTC, Stock Rockand Roll, Able Traders and PennyStockLocks.com have also garnered a share of the promotional loot.
So why the hype? It appears that the Arizona-based company has jumped into the medical marijuana management and technology sector for a share of the booming multi-billion dollar legal cannabis industry, specifically the $30 – $50 billion cannabinoid market.
According to the promoters: “through its subsidiaries, collaborative partners and consultants, EDXC develops and distributes consumable product lines sourced from industrial hemp that is pesticide and GMO-free and naturally high in phytocannabinoids, a natural occurring cannabinoid formed in the cannabis plant. It has also developed the m3hub platform, which is the first standardized software solution for tracking pharmaceutical grade cannabis at federal, state, and local compliance. In the end, the platform is intended to create a smooth transition to eventual federal mandates.”
EDXC has a current market cap of $4.76 million and an average trading volume of 658,898 shares. Price per share is right at $0.04.
If you’re interested in investing in medical marijuana, this company is worth a look. As always, due diligence is the key to any successful investment. Do your homework before jumping in.