After Portage Resources, Inc. (PINK:POTG) reached the bottom at the end of last week, its stock price is running up again in the last two trading sessions. Although there has been some partially positive news on Monday, the increase in value seems to be to a higher extent attributable to some research coverage for the company. 
Yesterday POTG closed the market at $0.09 for a share, which is a 45.16% increase from the previous close. The trading volume was nearly equal to the average with 8.46 million traded shares, which does not provide such a strong signal that POTG could keep running up today.
The latest news around Portage resources came out on Monday. First, early in the morning a press release announced that the company has been covered in an investment research report distributed for free by a website called The Bedford Report. Most probably, the report was paid for as the general disclaimer of the company providing the service states it is not a registered broker, rather it receives compensation from third parties to provide advertising services in favor of small cap public companies.
POTG share price appreciated sharply in the middle of the trading session yesterday, which looks like the typical trading pattern for a promoted stock, although no promotional e-mails for POTG have yet come into our newsletters database.
Also on Monday POTG filed an 8-K with the SEC related to the company’s previous intentions to pay a dividend to its shareholders. In July this year, POTG BoD had approved a dividend payable in the form of a 10 for 1 forward stock split. Though, the transaction required FINRA approval, which was not received and correspondingly the 8-K from Monday announced POTG decision not to pay out the dividend.
At the same time, however, the company has to re-issue 230 million restricted shares to its CEO who had agreed in July in relation to the dividend payment to return to treasury for cancellation the same amount of POTG shares. Thus, the already huge number of POTG issued and outstanding shares would rise up again and cause again more shareholder dilution.
