Norstra Energy Inc. (OTCBB:NORX) Grinds In Place
The promotional push for Norstra Energy Inc. (OTCBB:NORX) managed to balance the stock price yet again in yesterday’s session. The stock closed just 1% up on waning share volume.
Investor interest towards NORX seems to be turning into caution, as yesterday the company traded in its lowest share volume since June 3, two short days before its tremendous crash. The pump for NORX stock started back on April 1 as an email tout campaign. Since then the promotion shifted onto a different track – as the emails stopped coming in late July, the pumpers resorted to using landing pages and domains registered exclusively for advertising NORX stock.
The promotional material put up on norxreport dot com and listing $3.6 million as total advertising budget has now been reformatted slightly and is being disseminated in the form of a physical paper mailer, listing the same promo budget and using the name of the same Eric Dany and his Stock Prospector used on the landing pages.
The promotional materials are full of hilarious projections and promises of the stock price reaching $5 in the short and $25 in the long term. When one is getting paid enough money, it seems he or she may tell people just about anything. Traders may also want to know that Mr. Eric Dany was previously involved in horrible pump failures such as Vendum Batteries, Inc. (OTCMKTS:VNDB) – a stock that is currently idling at the absolute bottom of $0.0001 per share, after enjoying pumped highs of over $0.25 in 2011. Back then Mr. Dany’s Stock Prospector was dedicated to pumping VNDB, promising “mega profits” and setting a target price of $10. The current reality of the situation is that VNDB is priced 100 thousand times lower.
NORX are expecting their permit to start surface casing operations next month. The company has not yet negotiated any financing even though they announced their intentions to do that in the coming weeks. NORX is definitely in need of this financing as the company had under $100 thousand as of February this year and it will need $5 million to cover estimated expenses for the drilling of the first of three horizontal wells under a signed farmout agreement.
Another stock that garnered investor interest in yesterday’s session was resistant pump Xumanii, Inc. (OTCMKTS:XUII) who finished the day 8% up. Another significant event was yesterday’s suspension of Biozoom, Inc. (OTCBB:BIZM) who were halted from trading for potential “unlawful distribution of securities through the OTCBB”. The full text of the SEC order can be seen here.
