The Penny Stock General Initiates Coverage on Garb Oil & Power Corp. (PINK:GARB)
Today’s company in focus pretends to be “a pioneer in the recycling and waste industries”. What would be of greater value for you, however, is to know that this company’s stock is currently in the tripple zeros and has now fallen prey to paid pumpers, which requires that you do your own due diligence before buying the company’s shares.
The company in focus is Garb Oil & Power Corp. (PINK:GARB). It has been almost a year since GARB last condescended to file a quarterly report on time. The fairly negative figures revealed back then, combined with the subsequent closed-door financial policy have now brought GARB to the absolute low on the stock market, i.e the $0.0001 mark. Now that GARB has hit rock-bottom, it could not possibly continue digging, and The Penny Stock General, just one of many promoters out there, have had the wit to foresee that GARB could only go up provided that an investor awareness campaign meets with success. As a result, hundreds of investors have now been alerted on the stock.
The promoters’ main trump card is GARB‘s huge, promo-driven spike last month. On Dec. 26, MJ Capital LLC, unleashed a full-blown promotional campaign via its network of subsidiaries including promoters StockRockAndRoll and StockBomb to name but a few. As a result, GARB scored an intraday jump of 1900%. Before you whet your appetite, however, rest assured that reaping the biggest benefits of a promotional game requires perfect timing and you will have no other option but to make a guess on it.
Should you decide to invest in the company nonetheless, you had better know that this “pioneer” company has failed to rake it in even though it has been around for 40-plus years. According to GARB‘s most recent 10-Q (Q3 2011), the company has minuscule cash reserves, its working capital deficit goes in excess of $5 million, while its net result amounts to a loss of some $2.5 million. Unless managers disprove us, we have no reason to think that the delayed subsequent reports will show a marked improvement once they see the light of day.
Besides GARB, The Penny Stock General is also responsible for a myriad of other pumps. Needless to say, the vast majority of them eventually turned out to be dismal failures. Here are a couple of examples:
Plandai Biotechnology Inc (PINK:PLPL) – pumped on Feb 3, 2012, the stock is currently trading at $0.05, down 83% from its pre-promo value.- Myriad Interactive Media, Inc. (OTC:MYRY) – promoted on Mar. 26, 2012, the stock lost 93% of its market value in less than 5 months.
