SWVI – Pump And Dump Alert – February 15, 2013
This week were exposing one of the most popular Pump & Dumps: Swingplane Ventures (SWVI).
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 disaster waiting to happen:
Swingplane Ventures (SWVI)
Last week SWVI made it to our honorable mention list found at the bottom of the article.
We pointed out the pump and dump being run on SwingPlane by PennyStockAdvice and Victory Stocks. These guys are also known as Degroupa Tenner Morales Media Corp. out of Costa Rica. They expect to collect 10,000 to pump the stock.
I love that
You expect to be paid- like the paying third party is going to stiff you. Please its like theyre trying to plead innocent as if they havent been paid just yet.
Whatever!
SWVI is a concern as it trades at a higher price than most pumped stocks $0.61 as of Thursdays close. That simply means this it has further to fall when the pump is over.
The latest news out is that Mid Americas Corp., which holds the rights to the Algarrobo property in Chile, accepted 100,000,000 shares of common stock and 5,000,000 shares of preferred stock from Swingplane.
This is basically a bunch of old historical mines for copper
The problem comes when we look at the latest financial report filed just last week. Basically, the company has $49,099 in cash (up from $23,000 a year earlier) and total assets of $291,564.
Not bad youre thinking?
No but they also have $474,585 in current liabilities! Whats more, SWVI ran at a $198,000 loss for the last six months of 2012.
So how did they get more cash if they ran at a loss? Well, they took on a short-term loan- thats how.
Now, heres my favorite part-
The name swing plane sounds an awful lot like a golf company, right?
Well thats because they were! Only this past January did SWVI start operating as a copper explorer in Chile. Here is a description from their latest filing about the companys history:
originally incorporated to operate as a mens and women’s golf fashion manufacturer in Broomfield, Colorado. The Company’s first designs were intended to be marketed under the “Swingplane Ventures” brand attracting the 12-35 year old male golfer market as an alternative to much higher priced brands with similar styling.
Id say this is one pump and dump thatll end up back in the hazard!
Other Penny Stocks Being Pumped This Week
SFPI Shazam Stocks was paid $100,000
TERX Stock Mister was paid $15,000
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,
Brian Walker
Category: Pump & Dump Alerts
