Umax Group Corp (OTCMKTS:UMAX) Is A Penny Stock Runner

Today, we are turning our attention to a new penny stock runner. Umax Group Corp (OTCMKTS:UMAX) is a holding company investing in start-up projects as well as revenue generating companies. Company LogoThe company surprised the market in September with several announcements including the new quarterly release and the acquisition of a large stake by Emry Capital Group Inc.Have a look at how the share price jumped on the announcements. From the share price level of $0.002, the market pushed up the share price to touch the level of $0.019 in less than 20 days. But, this is not the most significant factor. The volume, which is a very good indicator of the market interest, spiked as well. More than 10 million shares changed hands some days. 1 month chart for UMAXBusinessWe will first have a look at the company's subsidiaries. In the last annual report, three subsidiaries were noted:-UMAX Development, LLC (Utah): is a company owning licensing and knowledge to install solar thermal units in Utah, and California. The most significant development seems the joint venture agreement signed with Harmony Homes, according to which both companies would build homes together. Again, we will expect news about the state of the business soon.-RockStar Mining Corp. (20% owned by UMAX): is a Nevada corporation intending to begin mining on a small scale in 2017 and expand to full scale by the end of the year. The most significant of what's stated in the last annual report is that the operations are located in Northern Nevada Pershing County, wherein, according to UMAX, 10% of the world's gold is produced. Please note that the market did not receive news regarding the company’s operations in 2017, while the company promised to begin this year. We need to be alert, because if production numbers are released, the share price could creep up.-SOL UP SOLAR: it is a company located in Las Vegas, which has been operating for the last 5 years a marketplace of solar, "with $2 million in revenue yearly."We agree with the vision stated in the annual report about the projects, the industries chosen, and the need of financing:

"Once funded, UMAX GROUP CORP is ready to expand with projects ready to go. This is clearly the way of the future. We believe that the industries we are associated with will bring long term growth to the company and its shareholders. Allowing more projects and objectives to be undertaken and completed." Source

Recent DevelopmentsThe following are the announcements that seem to have excited the market in September.On September 14, 2017, the company released its 10-Q, which included the earnings results for the period ended on July 31, 2017. Last 10-Q for Umax Group Corp OTCMKTS:UMAXAdditionally, the market received new information regarding the amount of outstanding shares as well as other share structure stats. Have a look:Market Value$2,935,134a/o Sep 29, 2017Authorized Shares1,850,000,000a/o Sep 21, 2017Outstanding Shares266,830,355a/o Sep 21, 2017-Restricted216,252,533a/o Sep 21, 2017-Unrestricted50,577,822a/o Sep 21, 2017Held at DTC18,040,109a/o Sep 21, 2017Float77,170a/o Sep 20, 2016Par Value0.001SourcePlease note that the float is quite reduced meaning that if the shareholders try to buy a large stake in small period of time, the share price may move quite a bit. It may explain what happened in September as Emry Capital Group Inc. disclosed a position.On September 7, 2017, a market participant, Emry Capital Group Inc., disclosed a 4.68% stake in the company.Additionally, the market should have appreciated the letter received on September 21, 2017, wherein lawyers noted after meeting with management and reviewing company's financial information that the company is in compliance with the current securities regulations.ConclusionCurrently trading with a market cap of $2.9 million, UMAX seems to be under the radar of some market participants while an investment firm like Emry Capital Group Inc is building a position. UMAX has certainly piqued our interest and it's a name that we will be following closely. We are also watching to see what Emry Capital Group's next moves are.We will be updating our subscribers as soon as we know more. For the latest updates on UMAX, sign up below!Image courtesy of Tax Tiger via FlickrDisclosure: We have no position in UMAX and have not been compensated for this article.