Swingplane Ventures, Inc. (OTC:SWVI) Claims No Involvement with APS Pump

Swingplane Ventures, Inc. (OTC:SWVI), the current Awesome Penny Stocks (APS) pump had an underwhelming Friday. The management did something rarely seen with APS pump jobs, claiming they are not behind the pump.

SWVI closed up 3.49% at $0.267 per share with a volume of 3.9 million shares. This performance isn’t unusual for an APS pump. Both World Moto, Inc. (OTC:FARE) and Superior Venture Corp (OTC:SVEN) got off to a similar start.

Last week we had a look at some of the key details about SWVI potential investors should keep in mind. Since then, there have been some developments. In a press release from last Thursday SWVI says it’s not aware “of any investor relations activity on behalf of the Company other than the news releases and filings disseminated by the Company…”

Companies previously pumped by APS have chosen not to say anything about the pump activities and the market reaction caused by them. Declaring a position seems like a responsible step. However, SWVI is not strictly warning investors not to trust the pump emails, nor does it state a clear position on the current valuation of SWVI stock. Instead, it’s simply washing its hands.

The main issue of the press releases issued by the company is actually a supposed Denial-of-service attack on the website of the company. In another press release from Friday, SWVI says its website is up on a different address, however, the new address doesn’t work. Instead the website is up and working at the old one.

Meanwhile, SWVI still has the buyer beware sign on OTCMarkets. Unfortunately, this sign has proven very ineffective in some previous pumps.

There are plenty of issues and red flags around SWVI. Until the company files the promised SUPER 8-K, the public can’t even begin to make an objective valuation. The filing and contents of that form may very well be the deciding factor of whether SWVI will go the way FARE did, or it will be an utter disaster like SVEN.