Explortex Energy Inc (PINK:EXPX) claims to be an independent oil exploration company. After a number of tout mails, yesterday EXPX actually lost some value and the volume was insignificant.
To be exact, EXPX closed down 3.55% at $0.19 with just 1100 shares changing hands.
The promoter disclosed explicitly that no compensation was paid for its services. This on its own is often enough for a promotion to fail to affect the market.[BANNER]
In the case of EXPX, there are some other factors. Perhaps, most notably the company hasn’t filed a single financial report since November 2009.
The last time EXPX was promoted it set off a drop which led it to its current price, losing about half of its value. Back then, there was even a modest compensation for the promotional effort.
While there is a chance oil may have another run, EXPX has elected to provide far too little information to form a solid idea about where the company is right now business-wise.
