PacWest Equities, Inc. (PINK:PWEI) Pump Picks Up Steam, Is Hilarious
Pumpers are back in force today, touting PacWest Equities, Inc. (PINK:PWEI) and making some hilarious claims along the way.
Pumpers Mining Stock Alerts dot com have disclosed a compensation of $150 thousand for advertising PWEI stock in their promo email. The pump is focused on the acquisition of technology from a NASDAQ listed company that PWEI is negotiating. This is followed by promises of solving world hunger and PWEI turning into a multi-billion dollar enterprise.
The pump fails to mention that DayStar Technologies, Inc., the NASDAQ company in question, is a development stage enterprise that has generated zero revenue over 2011 and 2012 but has managed to rack up consistent quarterly losses in the millions for a grand total of $147 million since inception, as reflected in their latest quarterly financial report. Acquisition target of the century, it seems!
Combining this omission the pump makes with the fact that PWEI is flagged with Pink Limited Information on OTCMarkets as their latest financial report is dated June 2012, listing ZERO in both cash and quarterly revenue, the pump and the acquisition talk are starting to take a hilarious turn.
Those following PWEI may also remember their last run of pumps in late October and early November that left the stock a smoldering ruin. As the pumps came to an end, PWEI dropped nearly 80% from the pump’s spike values. Promoters pocketed compensation reaching up to $500 thousand dollars back then. We covered PWEI in the heat of the November pumping and warned investors where it was going. Not too surprisingly, it did crash hard. Back then, once more, the touts of some promoters were that ‘PWEI could exceed $50 million in sales with new acquisition’. The song remains the same this time around, it seems, and the pumping goes on.
We know full well some may call us bashers or haters as this one may run for a while as well, giving greedier investors a chance to make a quick buck on the backs of the more gullible. However, the combination of PWEI‘s pump history, the lack of current information about the company, today’s ludicrous promotional promises of ending world hunger and the fact that single promoters are getting paid as much as $150 thousand to tout the stock should raise about enough red flags for anyone.
Do your own due diligence, don’t trade on paid pumps that you get in your email and stay safe!