Imperial Resources Inc (OTC:IPRC) is dragging a trail of promotions behind the stock performance, but the advertising effort doesn’t seem to carry much of a payoff.The latest promotion cost $30 thousand for Winning Media, a third party with clear interest in this stock. The amount was paid to a promoter company running both pennystockshark.com and stockprofessors.com. IPRC has been promoted since Monday through another promoter as well. Stockegg.com and hotoct.com, running under the same management, were compensated $78 thousand by the same Winning Media for one week of advertising of IPRC.
At the same time, another third party named Medford Financial paid $20 thousand to Tritos, Inc., which runs herostocks.com, stockhunter.us and stockbrain.net, to have IPRC promoted.
This calculates to at least $128 thousand spent to promote Imperial Resources this week, but the stock price barely moved 13% up, showing how illiquid and clearly unworthy appreciation this stock is.[BANNER]
Imperial is presented in the advertising newsletters as having oil and gas business that positions the company among the companies able to benefit from rising oil prices. While this may be partially true, the promoters fail to mention that the company runs on ridiculously low revenues. Only $46.4 thousand in sales were recorded for the three months ended September 30, 2010.
Other financial highlights include:
• Constant losses from operations
• No cash
• 4% dilution to shareholders through a recent conversion of a $900 thousand loan note and issuance of 1.6 million shares
On December 10, the company also saw Mr. James Payyappilly resign from all his employment positions as CEO, President and Director. Further, Ms. Tessy Francis resigned as Director as well and Mr. Robert Durbin, an officer and director of IPRC’s subsidiary Imperial Oil & Gas, Inc., stepped up to fill these positions, but was not officially employed by the company.
