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Saturday, December 3, 2022

The Rise and Halt of Elite’s Broke Out Inc (OTCMKTS:BRKO)

The party on Elite’s Broke Out Inc (OTCMKTS:BRKO) stopped on March 17 when the SEC put a halt on BRKO terminating at 11:59 p.m. EDT on March 31, 2016. At that time BRKO will once again start trading on the greys for pennies on the dollar as happens in most cases.

BRKO reached an incredible $14.77 before the halt on the promotion from Godzilla penny stock promoter Elite Penny Stock Group of AREN, EURI and CLOW fame. They went way overboard on BRKO which quickly ballooned to a $500 + million market valuation with the dreaded skull and Crossbones designation from OtcMarktes.

Broke Out Inc (OTCMKTS:BRKO) bills itself as a German-based developer, publisher and marketer of mobile apps. The Company offers apps to a cross section of users of smartphones and tablet devices who download and make purchases through direct-to-consumer digital storefronts, such as the Apple App Store, Google Play Store, among others. It owns over 30 paid and free apps at the moment with a focus on Europe and the USA.

According to the complaint from the SEC ”The U.S. Securities and Exchange Commission (“Commission”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading of the securities of Broke Out, Inc. (“BRKO”), of Frankfurt, Germany at 9:30 a.m. EDT on March 17, 2016, and terminating at 11:59 p.m. EDT on March 31, 2016. The Commission temporarily suspended trading in the securities of BRKO because of concerns regarding the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in BRKO’s common stock. The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.”

Godzilla promoter Elite Penny Stock Group operates the domains Finestpennystocks.com, Smartstockchoices.com, Bestamericanstocks.com and Elitepennystock.com to name a few. Their picks EURI and AREN went to multi dollars before the flopped on CLOW.

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The last email from Elite on BRKO came on March 15 when FinestPennyStocks.com emailed subscribers the following ”BRKO is setting up for a run to 20 dollars! BRKO has had its best day ever today but I think that it’s just getting started. The stock is building a strong footing in the 8 dollar area but still has a strong chance of passing 10 dollars today. I am nearly certain that BRKO will be a multiple day or even multiple week type of runner where short sellers will continue getting squeezed over and over as new ones take their place, sending the stock higher every day.

This is why it would not surprise me in the least to see BRKO shatter past 20 dollars very quickly. Keep in mind KBIO (another epic short squeeze stock) had multiple short squeezes occur within a 3 week period and sent the stock to almost 50 dollars a share very quickly.”

BRKO said on March 9 that it has acquired the highly popular Secret Menu for Starbucks(TM) iOS app. This profitable app currently generates stable revenues and sells for 99 cents. Users love the app and have rated it positively with an average of 4.5 out of 5 stars. Its growth is currently organic and users usually find it by searching for Starbucks(TM) apps.

CEO Mr. Kuan said “Our latest acquisition from AppVizzle is a very popular app that has been featured in Time Magazine, Parents Magazine as well as CNET and several other news outlets. We will be developing new features and updates for it to maximize its potential and increase its revenues.”

We do not endorse any of the above in fact we think it’s downright ridiculous to compare BRKO which has 0 fundamentals and a laughable $3,700 in the treasury to what was a real Company KBIO until Martin Shkreli was arrested and the whole thing collapsed.

Elite Penny Stock Group certainly knew what they were doing on BRKO; they started it right after the CLOW flop which looks intentional looking back now to make everyone think they were weak and their best days were over.  And it was certainly easy to trap a significant short position at $2 fast considering all their picks end up trading for less than a dime 6 months out. BRKO they started high over $2 and it sat there on light volume just long enough for a significant short position to build up before they initiated the real promotional program.

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Currently halted from trading until March 31 at which point it will open on the grey sheets for pennies on the dollar as it so happens in most cases BRKO was the multi-million dollar promotion from Godzilla penny stock promoter Elite Penny Stock Group of AREN, EURI and CLOW. They took BRKO to a whole new level trapping a massive short position and sending BRKO to $14.77 a share before regulators stepped in. Someone made millions here; last year, some unnamed individuals bought an aggregate 12.2 million free trading shares of BRKO for just $48,800 as a part of the company’s Initial Public Offering. These shares were worth well over $50 million at BRKO’s height and likely the shares being sold into Elite’s promotion.. We will be updating on BRKO when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BRKO.

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Disclosure: we hold no position in BRKO either long or short and we have not been compensated for this article.

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