Damn Good Penny Picks just released Global Resource Energy (PINK:GBEN) as their latest pick for today. Usually this brings a lot of activity to a stock, but this isn’t the kind of activity that necessarily leads to a profit.
If you look at some of the recent picks to come out of this touting newsletter for the month of July, the numbers paint a picture that would scare the heck out of anyone interested in keeping their money.
- MJWL – Dropped 85%+ in 3 weeks
- NOUV – Dropped 50%+ in 2 weeks
- LDSI – Dropped about 40% in a week
The charts below clearly illustrate the pain investors have suffered. We will have more on this story later.
UPDATE: 9:45 AM
A quick look through the most recent 10-q filings shows weakness in the financial situation of GBEN. They are almost completely out of cash and are loaded down with debts.
The stock pumping outfit sent us an e-mail a few minutes talking about some press release ago stating ” This is massive news for the company ”
Meanwhile the company’s auditors slapped this little Going concern into their financial statements: ” further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern “. Perhaps management of the company can help clarify to shareholders how they intend to stave off what the auditors fear.
