America Resources Exploration Inc (OTCBB:AREN)’s Bubble Pops

[[tagnumber 0]][[tagnumber 1]]America Resources Exploration Inc (OTCBB:AREN) was barely being traded until earlier this month when the ticker started ascending the charts very fast. After reaching a low of $0.15 per share on July 22 we saw the ticker embark on an upward climb that let it exactly 234% higher in Wednesday this week when [[tagnumber 2]]AREN[[tagnumber 3]] reached a price of $0.501.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]The fact that the company stock was capable of registering five consecutive sessions in the green, making such an impressive gain on daily volumes that reached upward of $1 million is pretty astonishing when you look at what the company has to offer. [[tagnumber 2]]AREN’s[[tagnumber 3]] latest filing which covers the annual period ended March 31, 2015 and contains the following numbers[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 13]] [[tagnumber 14]]cash: $6 thousand[[tagnumber 15]] [[tagnumber 14]]total assets: $6 thousand[[tagnumber 15]] [[tagnumber 14]]total liabilities: $6 thousand[[tagnumber 15]] [[tagnumber 14]]revenues: ZERO[[tagnumber 15]] [[tagnumber 14]]net loss: $29 thousand[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Those are some pretty appalling numbers even by OTC standards, but that doesn’t seem to bother the people who are trading [[tagnumber 2]]AREN[[tagnumber 3]] stock lately. The upward movement was fueled by a subscription agreement with which the company may raise up to $500 thousand in investment capital.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Meanwhile [[tagnumber 2]]AREN[[tagnumber 3]] keeps touting their stock and is more active in issuing press releases than what we have previously seen. Still, it was time for the bubble to pop and we saw the ticker drop 7.19% to a close at $0.465 while the 1.8 million shares that were traded generated $892 thousand in daily dollar volumes.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Earlier today, however, the company came out with a press release that announced that the company has acquired a “[[tagnumber 40]]fractional interest under one percent in three oil and gas producing wells[[tagnumber 41]]”. The news, although not so impressive might manage to provide [[tagnumber 2]]AREN[[tagnumber 3]] with a green close in today’s session.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]But let’s not forget that while [[tagnumber 2]]AREN[[tagnumber 3]] is holding a market cap of around $60 million the company stock is heavily overpriced and may come crashing down the charts at any moments, reaching for the bottom of the charts.[[tagnumber 4]]