This week were exposing one of the most popular Pump & Dumps: Global Resource Energy (GBEN).
That said, welcome to Pump and Dump Friday, where every week we identify at least one of the many potentially bogus promotions going on in penny stocks today.
If you dont know how these schemes work, be sure to check out this free report that exposes the whole thing.
Without further ado, here is todays disasters waiting to happen:
Global Resource Energy (GBEN)
Not even a single month has passed, and the pumpers are hard at work on GBEN once again
This is now the 7th time were exposing the paid stock promotion of Global Resource Energy. And thats just between July of 2012 and January of 2013! Apparently the folks over at Classic Distribution LTD have no problem sleeping at night after paying $100,000 to Research Driven Investors to pump shares of GBEN
Theyve gone back to the proverbial well yet again to see if they can make more cash. They paid $100K last month to the same pumper- so something must be working.
In addition, the same third party paid Equity Trading Alert the bargain-basement price of just $17,000. What a deal! And before that, Epic Stock Picks was touting these shares for just $25,000.
So the stock itself is all over the charts as youd expect. Take a look for yourself…
This penny stock is trading just off its lows and it looks as though the recent pumping has helped but that the effectiveness has worn off. Remember, back when I first warned you, it was trading around $0.45.
Im hoping to get the new readers to our site to understand that no matter how cheap a pumped penny stock looks, nor how good the pumpers make it sound- eventually they all end up with a chart just like the one above
From a fundamental standpoint, GBEN hasnt improved their financial performance one bit.
GBEN posted yet another quarterly loss for their October quarter of 2012. If you dont recall, I told you the companys July quarter showed a loss of $85,000 after a first quarters loss of $77,000 loss. This time around, the loss is just $68,698. And for the nine months ending October 31st, GBEN lost over $231,000!
Of course the loss isnt the scary part
GBEN still has $0 cash and generates $0 revenue.
I asked this question in December, and Ill ask it again do you want to buy the stock?
Now dont worry the company only issued another 30,000 shares for the settlement of accounts payable last year. Thats what they have to do, and honestly Im surprised they found anyone at all to buy those shares.
Lets do some math
At $0.043, the company issued 30,000 shares to pull in all of $1,200! Thats sad and pathetic at best.
If you still want to buy shares after what I just showed you about GBEN, then you need to have your head checked!
Other Penny Stocks Being Pumped This Week
TGRO My Best Stock Alerts was paid $2,000
ZPPB CF Inc. is expected to pay Global Investment Alert $100,000
A final word (and warning).
This is just one of the potential pump and dumps we’ve seen lately.
Remember, theres a lot more of this going on than we can highlight here.
As you know, penny stocks are a great place to invest your money. You just have to do your due diligence to stay away from all the schemes and scams out there these days!
Until next time,
Category: Pump & Dump Alerts