Stock price of First Liberty Power Corp (OTC:FLPC) has been quite unpredictable over the past days. It’s been wandering up 
and down constantly with no particular reason.
Yesterday, FLPC got back on track by soaring 7.20%, while its traded volume jumped up significantly.
The only recent news on FLPC appears to be a press release which has just came out. It provided an update on the next phase of the company’s exploration objectives for its lithium brine project in Nevada.
However, the announcement also stated that First Liberty was actively seeking additional funding to undertake its drill program and, together with routine permitting requirements, is expecting to be in a position to commence the drill program in Spring 2012.
Obviously, without the additional funds and permitting requirements nothing is guaranteed and investors should keep their fingers crossed until the commencing of the drill program.
Meanwhile, FLPC found another well-known strategy for pumping up the stock price. Namely, promotions.
Just like in December, this month FLPC got promoted again, trying to hold the climb for longer this time. The January campaign cost $54,000 so far, though the month is not over yet.
In mid-December, First Liberty filed its quarterly results. However, these don’t look much promising.[BANNER]
As FLPC is an exploration-stage company, the revenues are still missing, while the liabilities have increased. At the same time, both the deficit accumulated during the exploration stage and the net loss rose up.
Unfortunately, the management cannot provide investors with any assurance that it will be able to obtain sufficient funding from the sale of common stock or through a loan from the company’s directors to meet FLPC obligations over the next twelve months.
These factors, accompanied by the losses that First Liberty has incurred, raise substantial doubt about its ability to continue as a going concern.
