Swingplane Ventures, Inc. (OTC:SWVI) – The Pump Rages On

Today will be the fifteenth day of the Swingplane Ventures, Inc. (OTC:SWVI) pump job by Awesome Penny Stocks (APS). In this case the pump is carried out through sources rarely used in previous APS jobs.

Yesterday, 9.1 million SWVI shares changed hands for a close up 8.33% at $0.468 per share. In addition to the usual APS pump emails, SWVI was touted in a Seeking Alpha article by James Hartje.

The third sentence of the part about SWVI is inaccurate to say the very least. It states that SWVI “owns” the Algarrobo property. For starters, SWVI hasn’t finalized the acquisition of Mid Americas Corp, which is the only link with the property. Furthermore, even when, and if, the deal is finalized, SWVI will be holding an option to acquire a 75% interest in the property, which will require significant cash payments and investments just to keep the option in force.

Mr. Hartje goes on to suggest that SWVI could be bought out soon and gives a price target of $11.50. He mentions the $5.1 billion buyout offer for Inmet Mining Corporation (PINK:IEMMF). The comparison is inadequate, if not ridiculous. Inmet has been operating for years and it has been reporting revenues in the hundreds of millions per quarter.

The ridiculous suggestions in the Seeking Alpha piece are quoted by APS in one of its latest emails, alongside the latest self-touting press release by SWVI.

The trading suspension in Berlin and the Buyer Beware sign on the OTCMarkets are proving insufficient to stop pump players and naive investors. Those who are playing the pump are probably fully aware of the problems with SWVI, but those who truly believe the tout mails, articles and paid “reports,” may be getting in over their heads. Do your due diligence before making any investment decision.