You got that right. A lot of the otc penny stocks I've come across turn out to be nothing more than pump and dumps perpetrated by the so called "CEO" of said companies. I've read that nearly 100% of the pink sheet pennies are scams and I'll believe it.

Penny ICO's are probably an easy way to get rich quick if you're the one promoting / selling the coins but for those buying you have to trade them and not marry them or you'll lose everything or close to it.