Traders Lift Global Earth Energy, Inc. (OTCMKTS:GLER) Further Up
The momentum that build up on Friday and pushed Global Earth Energy, Inc. (OTCMKTS:GLER) 75% upwards spilled over to yesterday’s session when the stock rose by another 28%. Currently they are still close to the triple zero territory sitting at $0.0018. Although traded volume doubled the average of 74 million shares it was no way near the 266 million shifted during the previous session.
The reason GLER has been seeing so much activity this past month is their latest partnership with Hawk Manufacturing, Inc. According to the terms of the deal the companies did a 20% stock swap between each other in a transaction that the article said is valued at around $5 million. The next step of the plan involves the four acquisitions Hawk is supposed to complete before the end of the year. The four targeted companies had a combined revenue of $27 million and income of $4 million for the fiscal 2012.
Just before the weekend the first acquisition took place between Hawk and Trump Equipment Company, Inc.
All this certainly sounds promising and a breath of fresh air for the beleaguered shareholders of GLER but take a step back and look at the past history of the company. It is riddled with PR articles about mergers and joint ventures that ultimately amounted to nothing. Unfortunately we don’t have the space to list each and every one of them but let’s take a look at a couple.
All this certainly sounds promising and a breath of fresh air for the beleaguered shareholders of GLER but take a step back and look at the past history of the company. It is riddled with PR articles about mergers and joint ventures that ultimately amounted to nothing. Unfortunately we don’t have the space to list each and every one of them but let’s take a look at a couple.
In January 2011 a joint venture with LifeCycle Investments, L.L.C. was announced that was supposed to involve $12 million in assets. Just two weeks later another article was talking about a memorandum of understanding with LB Tim Co. Ltd, a South Korean company, for the purchase of $100 million worth of GELR’s convertible preferred stock. A month later GELR was supposed to buy 1 million tonnes of coal from another South Korean corporation that were worth $100 million. And if you want something more recent you can read one of our previous articles about them dating from May 1 when GELR were going to buy an apartment building for the sum of $2.5 million.
As we said, not even one of those deals went through and the fundamentals of the company are as dismal as ever. They 
finished the quarter ending May 31 with:
finished the quarter ending May 31 with: - NO assets
- current liabilities: $6 million
- NO revenue since inception
- quarterly net loss: $405 thousand
- accumulated deficit: $45 million
Exercise extreme caution when dealing with GELR. The stock is quite cheap and easily accessible which makes it prone to considerable volatility. For now they have not been picked by any pumpers which saved them from the fate of Nutranomics, Inc. (OTCBB:NNRX) who got flattened to the ground after losing nearly 70% of their value.
