Yesterday’s stock market performance of New America Energy Corp (PINK:NECA) is nothing worth remembering. As a matter of fact, this is hardly the most interesting stuff about the company, as well. Rather, it is the consistent wave of promotional emails in support of NECA stock, all of them bearing one and the same text.
If you don’t believe, you’d better see it yourselves. According to our huge promotional database, we have received as many as 17 emails for NECA since Oct. 31. However, there are 10 emails whose content is exactly the same ( see newsletters dated Oct. 31, Nov.1, Nov. 7, Nov. 10, Nov. 13-14, Nov. 21-22, and Dec. 1). What is more, they all bear the same disclaimer which says that an astonishing $900 thousand have been allocated “for this advertising effort”. For the record, the total cost of these emails pursuant to the information disclosed therein amounts to $73,221.
While the promoters who started it all on Oct. 31 will undoubtedly continue to propagate the message in support of NECA, there is absolutely no guarantee that the campaign will meet with unprecedented success in the end. In fact, the vast majority of the promotional emails have so far yielded unsatisfactory results. So, what is the reason?
Needless to say, NECA’s current financial condition is in dire straits. As of May 31, the company had less than $15 thousand of cash, negative working capital of $67 thousand, as well as a quarterly net loss of $93 thousand. In addition, NECA has failed to meet its financial obligations regarding the acquisition of the Utah-based Uravan property. The lack of any recent financials cast further shadows on the current situation with this site.
As far as NECA’s Clayton Ridge Lithium Prospect is concerned, the company announced two days ago that it had completed the initial data acquisition phase of its gravity survey. However, investors will have to wait at least three to four weeks before they get a detailed report showcasing the results from the analysis.
