Yesterday, over 767,000 shares of the rarely traded SPPH stock turned over on the market, but the share price increase was modest for a pink sheets stock. SPPH added only 4.72% to its market value and closed the session at $0.335. Along with the unprecedented trading volume, the second success of the promoters was the highest price given during the day. It was $0.38, which is a break up of the usual trading range of between $0.245 and $0.362.
After $11,000 in cash were paid in the middle of the month for the advertisement of SPPH shares, yesterday another stock promoter was compensated to increase the public awareness. A third party paid $5,000 for a one-day awareness campaign, which included the sending of a number of trading alerts. The unconfirmed and extremely doubtful information disseminated has been supplied by the company itself.
Spencer have never filed any material information with the SEC. Among other things, yesterday the company said that they have hired an independent laboratory to do animal test of their “new met4 formulation”.
The only problem is that according to Spencer’s last available financial reports they have no cash and their only asset are certain patents valued at the company’s own discretion at around $100,000. No research or development activities can be recognized, the cash at hand has been spent only for general and administrative purposes and the existence of the proclaimed “new met4 formulation” has not even been mentioned.
