October 19, 2016: In a blatant, in-your-face admission, Quest Managment, Inc (QSMG) has revealed to the public that it intends to reverse split its stock on a one for 1,000 basis following the completion of the current pump and dump campaign. The Form 8-K filing with the SEC, states that it advised Nevada's Secretary of State of the company's intentions on October 17, 2016, the same day on which the current promotion was launched. While such rollbacks are reported to the Secretary of State of the incorporating State, the execution will not take place until QSMG has filed a request with FINRA.
QSMG's transparency with this transaction is proof positive that penny stock traders are ignorant to how the market works, its volatility, and the oppressive nature of these issuers. Dumped shares are currently being inhaled by the street and although some of these traders quickly flip their positions, somebody will get left holding the bag at the end of the day.
QSMG is new to the world of penny stock scams and shows the typical demographics of a scheme designed to defraud the public, from its Latvian address to its lack of assets or operations.