Pump for America Resources Exploration Inc (OTCBB:AREN) Rolls Out

It’s official now – America Resources Exploration Inc (OTCBB:AREN) is a pump job. Assisted by a volley of paid emails and a new press release, the ticker revved up in yesterday’s session and clawed its way back up the charts. AREN closed 70% up yesterday and stopped at $0.61 per share after shifting a record 5.6 million shares.

AREN has been quite a ride ever since it started trading actively in late July. The stock burst out from literally out of nowhere, after many zero-volume sessions in the past months and some pretty dreary figures in its latest financial report. The fact that it was rushing up the charts, seemingly carried primarily by upbeat PR and excitement, made it look a lot like a pump job.

Even though we still have not tracked down a landing page or a paper mailer advertising the stock, after our readers reported receiving pump emails, those ended up in our system as well. Yesterday we tracked at least three separate email pumps for AREN, compensated between $50,000 and $65 thousand. The money for the pumps was handed out by a certain Intraday Holdings Ltd. The pumping continues with more emails sent today.

AREN‘s last reported $6 thousand in cash on hand. The company’s headquarters address is a virtual office space. AREN‘s sudden trip up the charts is now very obviously backed up by a paid pump. The company issued 35 million split-adjusted shares against the grand total of $23 thousand dollars back when it was not buying up oil and gas wells but was planning to run a photo booth business. In June AREN signed an agreement for the sale of 1 million shares priced at $0.15 each. This is all information contained in its most recent annual report.

There are plenty of red flags about the company and every trader who has been around the OTC for a while should be able to spot them relatively easily.