Global Earth Energy Inc (OTCMKTS:GLER) Refuses to Budge
Before we discuss Global Earth Energy Inc (OTCMKTS:GLER)’s performance from yesterday, we would like to point your attention to this press release. It was issued in April 2006 and according to it, GLER (then known as Global Wataire Inc.) had just bought some atmospheric water generators (AWG) from another penny stock called Wataire Industries (OTMKTS:WTAF). GLER‘s CEO, Mr. Sydney Harland said back then that the new order will give both enterprises a boost and will help his company become a market leader in the AWG business. So, how did the two ventures fair since then?
As we mentioned numerous times already, GLER‘s latest financial statement lists no assets whatsoever while WTAF‘s stock is traded on the Grey Market at $0.0001 per share, which probably has something to do with the fact that they haven’t filed any reports since 2006.
Is Mr. Harland bothered about this? Not at all, as it seems. He appears to be quite happy with the $220 thousand worth of annual compensation (which, in light of the company’s dreadful financial state, seems a bit steep). Are traders worried?
Clearly not. GLER‘s performance over the last two months hasn’t been perfect, but it’s pretty clear that the ticker is heading north. And it’s being propelled by yet another promise of yet more blue skies in the future.
As we mentioned in our previous articles, this time, it’s all about Hawk Manufacturing. GLER and Hawk closed a 20% share swap agreement at the end of August and that, apparently, was enough of a reason for people to start paying attention. The excitement was further boosted by some more promises of acquisitions of companies that are supposed to be profitable which means that sessions like the one yesterday when GLER added 50% to its value after just six and a half hours of trading are not a rarity.
If all the press releases turn out to be correct, the stock might indeed be in for quite a ride. We all know, however, that projections posted by small cap companies often turn out to be a touch overestimated which in turn leads to some crashes. We’ve seen that GLER have been a bit too optimistic in the past and that, we reckon, should warrant some extra caution and a lot of due diligence.
Speaking of due diligence, we’ve been doing quite a lot of digging around over the last couple of months and we have always been tormented by one question: “Why is there so little internet presence from Hawk Manufacturing?”. They don’t even have a website which is somewhat odd for a company that is supposed to dig GLER out of the mud. After some more research today, we think we may have the answer.
From this link you will see Hawk’s company profile at Florida Department of State’s website. In it you’ll find information about the names of the people running the venture, about the address of their principal offices (we talked about it in one of our previous coverages) and you’ll also find the articles of incorporation. It’s a standard document and it gives very little information about Hawk but what is curious about it is the date of the filing – July 1, 2013. This should mean that GLER‘s new partner, the entity that is about to pull the ticker out of the double zero territory and on to a brighter future was established just four months ago.
Will this hamper GLER‘s progress? We’ll let you decide.
