First Liberty Power Corp. (OTCMKTS:FLPC) Climbs Up To New 52-week High
The stock of First Liberty Power Corp. (OTCMKTS:FLPC) is enjoying some strong momentum that is pushing it further and further up the stock chart. During yesterday’s session it surged by more than 25% to close at $0.05, a price level that the company last visited more than a year ago. Not only that but FLPC has had only three sessions in the red out of the last twelve.
The most common reason for such widespread optimism, especially among pennystocks, is a paid pump that is hyping the company. But this time this is not the case. The last email alert sent out for FLPC is dated October 14. It was distributed by one of the lesser newsletters – Lions Of WallStreet for a total compensation of just $2500.
A much bigger impact had the PR article released by the company themselves on the next day. They announced that production has finally began on their Fencemaker antimony mine in Nevada. Having already secured a buyer with a initial purchase agreement for the mined ore meant that FLPC might at long last start generating revenues. And their financials were in a desperate need of a boost. According to the quarterly report for the period ending April 30, they had:
- $7038 cash
- $19 thousand total current assets
- $1 million total current liabilities
- ZERO revenues
- $450 thousand net loss
Investors will have to wait quite a bit in order to see exactly how much funds are the sales going to bring. FLPC recently filed a notification that they won’t be able to file the annual report on time. That is why you should still be cautious and do your own research before deciding whether to invest in them or not.
Yesterday the $1 million pump for Pan Global Corp. (OTCMKTS:PGLO) continued with its disastrous performance and slashed nearly half of its value to drop down to $0.292 per share. The pumpers proclaimed that PGLO will do a major bounce but that turned out to be only wishful thinking. On the other hand the stock of Bison Petroleum Corp. (OTCMKTS:BISN) is on its way to recovery after wiping all its gains in just two sessions.