The Stock of Uranium Hunter Corporation (OTCMKTS:URHN) Goes as Predicted
In yesterday’s trade session the stock of Uranium Hunter Corporation (OTCMKTS:URHN) fell down approximately 8% on a decent volume. It opened rather high on $0.0197 but it dropped to $0.0158 in a matter of hours. The stock registered one more peak at $0.0197 around noon, however, it finished at $0.0142 at market close.
The volume movement seemed similar to the one from last month’s paid promotion when on March 12 the stock traded in a total volume of 5.8 million shares and had a trade value of just over $170 thousand. Yesterday the volume of the traded stock was poorer coming in at 3 million shares traded by market close, however, this is still rather high compared to URHN‘s average of 668 thousand.
As we warned you in our previous article about URHN the promoters that started touting them at the beginning of February claimed that despite the name that suggests that they are a mining company exploring uranium deposits, they are actually digging for gold at the moment. According to the pump emails URHN have supposedly started mining gold and are getting 1 ounce per day out of the ground. Now let’s take a look at the numbers of prime interest from their most recent annual report which can be found in their OTC Markets profile as they stopped filing reports with the SEC at the end of last year.
cash: $11 thousand
total assets: $1 million
revenue: $0 since inception
long term liabilities: $1 million
net loss: $14 thousand
The figures in the report are for the yearly period ended September 30, 2012 and one might think that the situation has changed in the meantime. However, statements about them already mining gold can be seen only in the pump emails. There have been absolutely no press releases to back up this claim.
Another thing that we pointed out in our previous article about URHN is the fact that their company headquarters are located in a residential house in Las Vegas. Most importanly this address is not only the home of URHN‘s headquarters but is also the principal office of WGI Holdings, Inc. (OTCMKTS:WGIH). It can’t be a surprise that the CEO of URHN Mr. Gregory Ellis is also the leading man in WGIH, which is not a stranger to paid stock promotions, either.
If you compare the two company profiles on Yahoo Finance you will start to see that the press releases that both companies have put out in the last couple of weeks are pretty much the same. You must take caution when taking the decision to invest your money in URHN, because looking at WGIH‘s chart you will notice a pattern of stock manipulation through pump emails that didn’t end well for the company. The last pump campaign of WGIH created a rather abnormal movement in the volume traded and quick boosts in their price that didn’t last long. Now they have nowhere lower to go as they hit the bottom of the 3 zeros and are moving between $0.0001 and $0.0002 per share.
Always remember to do your own research when investing in penny stock companies. Especially ones that are telling you that they are digging for gold oil and other precious materials while in the same time don’t have the capital.
