EliteOTC Resume The Pump On Foy Johnston Inc (PINK:FOYJ)

It all started on January, 30, 2013 when Alexander D. Powers, CEO of Foy Johnston Inc (PINK:FOYJ) recapped on the highlights of his tenure in the company so far and laid emphasis on FOYJ‘s would-be exploration projects in Cameroon aimed at unearthing gold and other precious metals. Ever since this letter came to light, promoters have been pumping the hell out of FOYJ showing no signs of slowing down at all.

We have already witnessed a few distinct promotional rounds in support of FOYJ. Just as we expected, they all came crashing down without giving FOUJ shares the boost they were meant to give. Nevertheless, what we’ve got now is yet another pump job on FOYJ. This time, the main ‘sponsor’ of the campaign is said to be a party known as HH Group LLC. The latter has allocated a total of $48,000 distributed among three groups of promoters as follows:

• Actual Gains and Honest Abe – $7,000;
• EliteOTC and OTCEquity – $12,500; 
• Penny Stock Geek – $28,500.

All these new pumps are based on what they call ‘gigantic’ corporate news which came up last night. As it is, the company has just proudly announced that its equipment has been transferred to the site ready to start dredging up gold. However, there is a long way to go from bulk sampling to builging a complete, commercially viable exploitation channel. Needless to say, the company will certainly find itself in dire need of external financial support to get this plan going.

As promising as FOYJ‘s advances in Cameroon may seem, we cannot help but wonder why the stock has been so fiercely promoted ever since Powers officially announced the new direction FOYJ would be following from now on. So, instead of provoking a gold rush, his letter enticed investors to approach paid pumpers to ramp up the market value of FOYJ so that the former could easily get rid of their shares before the company has even found any traces of West African gold.

To wrap it up, the never ending whirlpool of promotions FOYJ has been in for the last six weeks raises significant concern for the seemingly bright future lying ahead of the company. In this respect, we would rather wait to see some proof of gold than falling in the same trap as many other stocks previously pumped by EliteOTC (and the rest of the aforementioned promoters) such as Colorado Gold Mines Inc (OTC:CGLD), Earth Dragon Resources Inc (PINK:EARH), and LifeApps Digital Media Inc (PINK:LFAP). Their market values shrank considerably shortly after EliteOTC withdrew its support for them.