America Resources Exploration Inc (OTCMKTS:AREN) Is Back With A Vengeance
America Resources Exploration Inc (OTCMKTS:AREN) made a 68.75% jump yesterday after two months of near illiquidity. But where will it go next?
To answer that question, one needs to look at the broader picture. Three months ago, AREN suffered a horrible crash that followed an exciting and surprisingly long pump-ride to the top of the charts. That is what investors had to deal with last time – and unfortunately there is no evidence that any changes have taken place since then.
And note that we do mean that LITERALLY. The company hasn’t really filed a financial report for Q3, 2014, so the only reliable source for due diligence available to investors is its report for Q2, and it still looks every bit as terrible as it did back then:
- cash and current assets – $145 thousand
- current liabilities – $64 thousand
- NO REVENUES EVER
- quarterly net loss – $17 thousand
And while we are on the topic of terrible things that can be found on the company’s OTC Markets profile, we would be remiss if we failed to mention the Caveat Emptor sign that is still stamped there. This was put up by the SEC because of suspicious pump-related activity months ago.
Well guess what? After months of silence, the pumpers are back. A couple of days ago they sent yet another wave of newsletters, and although said pump appears to have failed, its rather extravagant compensation of $130 THOUSAND suggests that the campaign has just begun. Yesterday’s jump was probably due to another effort on the part of notorious promoter SmartStockChoices.
Investors would do well to keep that in mind and heed what the Jolly Roger flag that AREN has been flying for months is telling them about the company.
