In the last few days rumors that SMA Alliance, Inc. (PINK:SMAA) is moving to gold mining have been going around. That, and an announcement saying nothing about gold, may be behind the price increase.
Yesterday SMAA closed up 33.33% at $0.06. The volume almost reached 1.3 million shares.
On Feb. 15 the company announced its Board of Directors had decided that 100 million restricted shares are to be surrendered and go back to the treasury.[BANNER]
While it was mentioned that former CEO Anthony Baker now had the “mobility and freedom to peruse other captivating opportunities”, the press release said absolutely nothing about this site and its legitimacy.
On the website, there are videos that suggest SMAA has in some way partnered with I.G.E. Global to pursue a gold mine in Alaska. The official website of SMAA and its Facebook page say nothing on the matter, which makes that new focus look suspicious.
Whether it is something real, or indeed a misuse of SMAA’s name, the company should inform the public of the actual situation.
