Continuing To Climb Is WRIT Media Group Inc (OTCMKTS:WRIT)

WRIT Media Group Inc (OTCMKTS:WRIT) has been steadily climbing up the chart as the latest pick from the Elite Penny Stock Group. It seems the promoters learned their lesson from the last five deals that blew up in their face and left investors holding the bag. With WRIT, instead of emailing their thousands of subscribers at once and capturing the SEC's attention and getting halted, they're firing up their servers slowly and creating a nice orderly move in the price of WRIT. We have to say Bravo! Maybe an old dog can learn new tricks and not be too greedy.Another huge difference between WRIT and past Elite deals is that WRIT is putting out news and has a good story and team behind it. The other deals were set up as pump and dumps from the very beginning. WRIT is certainly different and more professional.WRIT Media Group describes itself as "a diversified media and software company whose operations include content production and distribution; video game distribution via mobile platforms; and digital currency software development, including trading platforms and Blockchain solutions." The company's operations include:

• Front Row Networks, a content creation company which produces, acquires and distributes live event programming for worldwide digital broadcast into digitally enabled movie theaters and online streaming;
• Amiga Games, a software company resurrecting the Amiga brand by publishing retro video games on smartphones, tablets and consoles;
• Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands on today's smartphones, tablets and consoles; and
• Pandora Venture Capital, a software developer with a focus on digital currency technologies, including; a cryptocurrency trading platform, a new generation of cryptocurrency, and Blockchain technology solutions.

The latest news from WRIT is that it launched Pelecoin, or what the company describes as "a unique digital currency and the first product in a family of unprecedented cryptocurrency and Blockchain technology solutions, acquired through the previously announced Pandora Venture Capital transaction." CEO Eric Mitchell said:

"We are pleased to introduce to market our unique Pelecoin technology, and look forward to the potential it creates not only for WRIT Media and company shareholders, but for the broader digital currency space as well. There are several advantageous ways Pelecoin differs from other digital currencies on the market, and we're excited to be part of the many advances taking place in cryptocurrency."

According to Pelecoin's website, "One problem which prevents digital currency from becoming more widely used and distributed is the manner in which new coins are created (emission). Most known systems generate new coins in a manner that disregards that currency’s real time market value. For example, Bitcoin generates 5 coins per minute, Litecoin – 25 per minute on an ongoing and permanent basis. These systems distribute new coins between active users, or miners, whose computers participate in the generation process. This model obligates each user to have an extensive knowledge of the mining process and to invest in expensive computer equipment in order to participate. As time passes and the process becomes more and more sophisticated, fewer users are able to understand and participate in the generation process."Pelecoin sees the solution to this problem its emission process that is based on a simple proprietary algorithm - accessible and clear to all users. The system generates PLCN upon the occurrence of each “value” event which increases the currency's worth. The emission of newly generated PLCN is based on each user's participation in a “value” event.Currently trading with a market cap of $26 million, WRIT is a well run promo. Maybe the Elite guys have finally learned that there's more money to be made building a real company rather than doing a pump and dump, especially if the SEC halts your last five deals. Investors just need to keep in mind that the latest financials showed that WRIT has no revenues, zero cash, $2k in assets, and $888k in liabilities. 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 a free ebook as an added bonus!Disclosure: We have no position in WRIT and have not been compensated for this article.