Great American Energy Inc (OTCBB:SRBL) Falls Hard on Paid Pumps
After the last time we covered Great American Energy Inc (OTCBB:SRBL) their stock managed to drop around 30% in just 2 trade sessions.
We last wrote about SRBL on May 16, before the market opened, when their stock was at $0.70. In only 2 trade sessions the price managed to drop to Fridays $0.57 at market close and is continuing its downfall today with a current price of $0.55.
They havn’t made any new press releases since May 14, when they stated that they have hired John O. Rud and Clive Ashworth as advisors for their Smoky Valley lithium project. We warned you about these two guys and their brush with justice in our previous article about SRBL in which we explained why Mr. Ashworth was banned by the British Columbia Securities Commission (BSCS).
Press releases may still not be coming out, but paid promotional emails are flying around and the pumpers are getting creative. In the latest promotional emails that came in today from different outlets of Lake Group Media, Inc. the pumpers even suggest that big companies like Toyota, Panasonic, Sanyo Electric, Nissan and even Ford might benefit greatly from SRBL‘s Big Smoky Valley reserves.
They even go as far as comparing SRBL to Talison Lithium Ltd (TSE:TLH) who have a $43 million revenue for the quarterly period ended December 31, 2012 and a net profit of $9.4 million. Let’s take a moment to remind ourselves of SRBL‘s financials in the hope of finding a resemblance between the two companies.
cash: $113 thousand
current liabilities: $23 thousand
revenue: $0
net loss: $143 thousand
So far we can’t see any resemblance whatsoever. However, their financials are not so bad for a penny stock company in the OTC Markets. The deal is we simply can’t comprehend how someone would compare SRBL to TLH. Furthermore the blokes that are touting SRBL at the moment touted Feel Golf Co Inc (OTCMKTS:FEEL) not so long ago and we can see that right after they pumped the stock on May 13 the dumping from insiders began and it crumbled from $0.025 to its current price of $0.0039.
All in all SRBL continues to remain a risky investment choice. However, if you are thinking of investing in them be sure to do your due diligence and weigh out all the risks for yourself.
