Nilam Resources gives up, no more 24,800 bitcoins
Nilam Resources , a penny stock listed on OTC Markets that has seen numerous controversies, fumbles, and miscalculations over the past month, has issued a press release stating that it will no longer be seeking to acquire 24,800 bitcoins , or a merger with Mauritius-based company, Mindwave. The company saw its fortunes briefly rise when it was mischaracterized as a ‘South American mining company’ that was planning to acquire 24,800 bitcoin. However, its stock gains vanished almost overnight after its former CEO and president, Ron McIntyre, called it a ‘classic pump and dump.’ Nilam Resources’ stock gains vanished after it was branded a ‘classic pump and dump. New executives, new problems Shortly after McIntyre made his statements, Nilam Resources announced that it had a new CEO and president — but then a Reddit user noticed that the company had hijacked its logo from a small, California-based skate company called Powell Peralta. A few days...