A promotional campaign attempted to get Explortex Energy Inc (PINK:EXPX) to trade actively back in May this year. It had limited success. A new promotion is on the way and if there will be any effect from it, it should be seen today[BANNER]
In several session EXPX kept climbing after the last promotion, but the excitement went away. Back then, the price almost reached $0.70, but then it started dropping. Not only that, but there were sessions in which no EXPX shares were traded – like last Thursday and Friday.
Yesterday, after just 5 thousand shares changed hands, EXPX closed down 10.59% at $0.38.
While the company keeps filing 8-K forms, and announcing leases and acquisitions, EXPX still hasn’t filed a single financial report since mid 2009.
The new promotion is through a group of newsletters. The owners were compensated $12 thousand by a third party shareholder of EXPX.
In the e-mails it is stated that: “As long as EXPX keeps acquiring cheap OIL, profits will follow.” Readers shouldn’t get confused – EXPX hasn’t reported any profits. If it ever does – that would be big and its stock may skyrocket. However, there is nothing to indicate EXPX is making a profit.
A current financial report of any kind could help EXPX get some credibility, and perhaps even start trading more consistently. For some reason, the company still hasn’t provided one.
