USA Graphite Inc (OTC:USGT) Fails to File on Time

USA Graphite Inc (OTC:USGT) had a slow day yesterday after the fake APS emails. The official pumpers are still on it, though.

USGT closed flat at 69 cent per share again. The volume of 1.8 million shares was nowhere near the previous two sessions.

However, the pump still isn’t over. Stock Castle, WallSt Advisor and Obscure Stocks are still touting USGT. Another factor for the slow day could have been the fact that the company failed to file it’s quarterly report on time and filed an NT 10-Q form instead, which automatically moved it to the OTC Pink Limited Information tier.

USGT also issued a press release at the close. The initial title was “USA Graphite, Inc. Acquires the…” but approximately two hours ago a correction was published. It clarifies that there’s just a letter of intent and no transaction has been closed.

Seeing as how USGT is at its current levels only because of the pump campaign and the hype press releases, some official information and insight into the actual financial state and share structure would have been appreciated by shareholders.

The management of USGT may need to shed more light on the situation if it wants a more firm claim to credibility.

Then again, revealing the real situation may cause an unwanted development in the stock performance. Even if the end of the pump comes today, it would still have performed better than the Premier Brands Inc (OTC:BRND) fiasco by the same group of pumpers.