Minerco Resources, Inc. (OTCMKTS:MINE) Keeping The Pace

Minerco Resoursec, Inc. (OTCMKTS:MINE) exploded on Monday, its stock swelling 92% over the course of a single session. The ticker rose another 17% on Tuesday, after which it made two more consecutive 46% jumps.

The result of the trading frenzy is a staggering 150% increase in share prices over the course of just four market sessions, which took MINE stock from $0.0094 to $0.024. Oddly enough, investors are jumping at company stock despite the multiple red flags around MINE.

Red flags, such as the somewhat confusing fact that the company is yet to show any revenues that were generated by its main line of energy drinks. In a puzzling turn of events, no revenues at all were reported from this line of products, despite the fact that MINE‘s latest 10-Q covered a period in which the drinks should have been in stores for over a month.

Another red flag investors should definitely consider is the fact that the company is delaying the filing of the quarterly report that was due Jan 31, 2014. This is happening now, during the time of MINE‘s most aggressive chart-climb to date. Why could that be? Is it because the current report is as mediocre as the last one? The one that showed the following unconvincing numbers:

• cash – $85 thousand
• liabilities – $3.4 million 
• NO QUARTERLY REVENUES
• quarterly net loss – $2.7 million

If MINE‘s current 10-Q in any way resembles the financial disaster described in the aforementioned numbers, it should be clear why the company would want to delay its filing as much as possible. However until it does file with the SEC, trading its stock will remain an extremely risky gamble.

Another company that made an astounding jump in market value yesterday is MultiCell Technologies, Inc. (OTCMKTS:MCET), who managed to rise 90% in a single session.