Goff Corp (OTC:GOFF)’s New PR Didn’t Impress Investors
It’s been going on for the better part of four weeks, now and it’s safe to say that everyone who knows anything about penny stocks and their promotions is aware of the daily drill – a new email and a new optimistic announcement every single morning. If you own some shares, you will be occupied throughout the rest of the day keeping your fingers crossed that today won’t be the day that will see the ticker collapse. Either that, or you’ll get scared by the horrific amount of artificial hype and unfounded optimism and you’ll decide to sell the shares and look for a more solid investment option.
We’re pretty sure that we’ve just described the daily routine for the people who have invested in Awesome Penny Stocks’ latest pick – Goff Corp (OTC:GOFF). Yesterday was no different and we saw both some emails full of rather far-fetched promises and a new announcement that could make absolutely no difference to GOFF‘s credibility.
It is about a new agreement that they have reached to acquire a mine in Colombia and they announced it at the end of last week. Yesterday they issued a new press release full of things that sound about as likely as a bolt of lightning hitting a submarine. Namely, they said that the mine has a multi-million gold ounce potential which could turn GOFF into a multi-billion dollar company.
We’ve mentioned numerous times in our previous articles that we’re struggling to see that happening and there are a number of obstacles to stop GOFF from becoming successful. One of the the most important ones is the fact that you simply can’t buy millions of dollars worth of gold mines with no more than $5 thousand in the bank.
After four weeks of excitement and plans that will probably never turn into reality, people seem to have reached the same conclusion and despite the press release and the promises, yesterday’s session was relatively calm – GOFF didn’t generate that much of a volume and they only fell by as little as 1.7% so it’s fair to say that we, just like the people who are in on GOFF, are still waiting for the big fall.
In the meantime, GOFF published a Schedule 13D form with the SEC yesterday and it inspired us to put together a sort of a chronology of the whole pump and the preparations that took place before it was initiated.
GOFF was incorporated back in 2010 and, by the looks of things, they haven’t even tried to commence any sort of operations since the very beginning. Until this year, that is. For reasons unknown to anybody, they exercised a stock split and they also increased the number of authorized shares which is always a red flag when speaking of promoted companies.
Then a new subsidiary called Golden Glory Resources, Inc. was formed and Mr. Warwick Calasse was put at its helm. Then, on February 26 there was a change of control when the former officers Mr. Gary O’Flynn and Mr. Patrick Corkery decided that they don’t want to have anything to do with GOFF anymore and Mr. Calasse took over from them. He also received all their shares of common stock. That move wasn’t a moment too soon since just a couple of days later GOFF‘s former CEO, Mr. Gary O’Flynn, who also happens to be an Irish politician, was arrested and charged with soliciting murder.
In the meantime, GOFF‘s new boss issued himself a substantial amount of common shares, some convertible preferred stock, signed some agreements, issued a few press releases and Awesome Penny Stocks’ promotional machine roared into life.
Since then, the first paragraph pretty much describes the proceedings quite well. Judging by the opinions on message boards, there is little doubt in anyone’s mind where this is going and the only question is: “When will it fall?”. However, there are still some inexperienced investors that might get seriously burned if they don’t weigh their risks carefully, which is why due diligence is of the utmost importance.
