Tuesday, May 13, 2008

K's Media (f. Kinglake Resources) from Minerals to Karaoke Advertising! (KVME KVME.OB)

The May 5 edition of Forbes "Informer" covers "a young Canadian outfit once named Kinglake Resources and now named K's Media ...." K's Media (KVME) (KVME.OB) shares are up an amazing 16,000% to a $5.49 share price as of publishing of the article, "Singing the Same Old Song."

With no revenues from its prior two-year search for minerals and a current price to book value of over 100, a PR person at K's told Forbes that "Investors have confidence in the Chinese media sector." So from minerals, to Chinese media via a reverse merger (K's places advertising at Chinese karaoke clubs), K's is still at $5.49/share and has no warning label at PinkSheets.com, where it is labeled as being dually quoted on the OTCBB and Pink Sheets.

In fact it's actually not clear what K's (KVME) (KVME.OB) price quote is since it appears to be $5.49, but may be as low as $0.25 according to charts on the Pink Sheets. Yahoo Finance's last price quote is from February 4, also at $5.49. PinkSheet's data has a 52wk high for KVME of $6.00 and a 52wk low of $0.33. Shouldn't a stock like this warrant a "Caveat Emptor"?

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