Amarium Technologies, Inc. (OTCMKTS:AMMG) Climbs Further Up On StockTips Promotion
Ever since StockTips started their pump promotion for Amarium Technologies, Inc. (OTCMKTS:AMMG) the stock of the company has more than doubled in value. Last Friday it broke through half a dollar to close at $0.515, its highest price for the day. Traded volume reached the record number of 1.7 million shares.
The fake news site Invests.com has also published two articles featuring AMMG in an attempt to make the campaign as widespread as possible. Reading the disclaimer though clearly shows that they will receive $10 thousand paid by none other than StockPicks themselves.
Amarium have just recently joined the mining sector which is the preferred choice for many pennystock companies who want to attract the attention of the market. Instead of following the traditional route of exploring for precious metals, AMMG bought Jovita Mine in Mexico which produces copper concentrate. As of June 30 they had the following financials:
$451 thousand cash and total current assets
$932 thousand total current liabilities
ZERO revenues
$100 thousand net loss
Their cash position got a boost on August 19 when they announced a private placement of convertible debenture with Westin Korrin Capital Investment Inc., a Hong Kong investment bank, for $3.2 Million. Investors weren’t thrilled at the prospect of further dilution when the current outstanding shares are 480 million out of the 600 million authorized.
They have an agreement with Anglo-Asia Resource Partners to buy 18% of their copper production but we have to wait for the next financial report in order to see how their fundamentals have improved.
At the end of last week the medical company Amarantus Bioscience Holdings, Inc. (OTCMKTS:AMBS) surged by 20% to close at $0.07. While most of the companies operating in the medical marijuana business have returned to a state of dormancy after the hype created by the latest announcement of the Attorney General Eric Holder died out, Medical Marijuana, Inc. (OTCMKTS:MJNA) is still keeping its place among the top traded stocks. On Friday they aded 3% to their price and closed at $0.15.
