Global Earth Energy, Inc. (OTCMKTS:GLER) Continues to Fall
Another red session marked the beginning of this week for Global Earth Energy, Inc. (OTCMKTS:GLER). The ticker seems to be gathering momentum in a downward direction and the lack of positive news from the company doesn’t work good for the stock’s price.
The past week was disastrous for GLER and the ticker lost more than 40% in value, despite the November 7 press release announcing the three year revolving line of credit from Southstar Capital of Charleston, SC.
This week didn’t start well either. Yesterday, GLER dropped a hefty 24% in value, while the volume of traded stock was more than double its average. The total amount of shares that switched hands came at 177 million and generated $331 thousand in dollar volume.
If you have followed our articles covering GLER, you would know that they are not one of the rosiest companies in the OTC markets and the numbers of prime interest from their latest quarterly report are as follows.
- cash: $0
- total assets: $0
- total liabilities: $6 million
- revenue since inception: $0
- quarterly net loss: $405 thousand
GLER is a speculative play by all means, considering the fact that since they re-entered development stage on March 1, 2010 they have recorded a whopping net loss of 37 million dollars and have not produced anything yet.
This definitely isn’t how a company should operate. If that amount of money was put to good use, with the given amount of time, a company should be able to at least produce some revenue, even without getting out at a profit.
Unfortunately this isn’t the case with GLER and we would advise you to do your due diligence and weigh out the risks if you have any thoughts of betting on this speculative play.
22nd Century Group, Inc. (OTCBB:XXII) also started the week on a bad foot. The ticker lost some 14% of its value on a volume that was the highest in more than a month. Alkaline Water Co. Inc. (OTCBB:WTER) is the other addition to Monday’s losers with a 10% loss.
