A Correction in Global Earth Energy, Inc. (OTCMKTS:GLER)’s Direction

Global Earth Energy, Inc. (OTCMKTS:GLER) went through 5 extremely successful sessions which added a total of 190% to the stock’s value. Yesterday, however, their ascent was halted and their price was pushed back on quite the volume.

This was expected due to the fact that the upward climb of the ticker’s price came out seemingly after nowhere. There were none of the regular optimistic press releases of acquisitions that are GLER‘s trademark, nor was there a promotional campaign.

The stock seemed to be moving by itself, but was finally halted yesterday and dropped 9.38% in value. The amount of shares that switched hands in the session came at 125 million and managed to generate $407 thousand in dollar volume.

It is also surprising how they managed to keep a movement in a general upward direction, judging by their financials.

 

• cash: $0
• current assets: $0
• total liabilities: $6 million
• revenues: $0
• net loss: $405 thousand

 

That financial situation is grim and the fact that both the company CEO and his wife (Chairman of the Board) receive around $220 thousand in yearly salaries adds to the bad feeling. We discussed that in our previous article, which covered several of the past months in detail and we also wrote about the optimism that the press releases of the company are trying to make investors feel.

These announcements are regular for GLER and if you look in their past you will see that none of the partnerships, joint ventures and acquisitions worked out and we consider them as dust in the investor public’s eyes.

This is the exact reason for which we would advise you to carefully weigh out the risks and do a lot of due diligence if you have any thoughts of investing in this particular stock.

Alliance Creative Group, Inc. (OTCMKTS:ACGX) was the biggest surprise in yesterday’s session as it climbed a whopping 433% without any news. 3D Eye Solutions, Inc. (OTCMKTS:TDEY), however, left investors disappointed after recording a second session in the red with a 11% loss.