Trulan Resources, Inc. (PINK:TRLR) Pumps Return In Force
Pumpers went silent and stopped their email campaign for Trulan Resources, Inc. (PINK:TRLR) on March 13, as the stock was squished on heavy selling. Now promoters have launched a new round, touting TRLR yet again.
Yesterday was the heaviest volume day for TRLR ever, with about 15 million shares traded. The volume figure alone proves how misleading the mid-March pumps for the company were, advertising its “tiny” float of 210,000 shares, or 66 times less than yesterday’s share volume.
The company’s previous press release chimed in on the last day of the previous pump round. Yesterday TRLR came up with more news and announced securing $1 million in debt financing, convertible into common shares. The company intends to use the money to start exploring its Chilean claim and move on with a ‘feasibility study’ of the land. Words like ‘contemplated exploration’ and ‘feasibility study’ may be some indication of how far TRLR has gone with its iron-gold-platinum project.
The company switched its line of work from HR to mining in November 2012, abandoning a venture that generated $1.3 million in revenues and moderate net loss to probe South American soil for precious minerals. The most current TRLR filing available covers the period when the company still dealt in HR.
Organized pumping for Trulan started in late February, while the company still traded under its old ticker TLAN. The newest pumps are spearheaded by promoters Penny Stock VIP, disclosing $55 thousand in compensation. Logically, the emails tout the debt financing news.
The same promoters previously brought their subscribers some horrible picks in the past. One recent example is Endeavor Power Corp. (PINK:EDVP) – a company that was temporarily suspended from trading two weeks amid its pumped climb and is labeled with the skull-and-crossbones ‘Buyer Beware’ sign on OTCMarkets.com, listed in the grey market sector.
Traders are advised to exercise extra caution when dealing with penny stocks, especially when they are being promoted against large sums in compensation.
