FLEET MGNT SLTNS INC (PINK:FLMG) has been flying up at full speed over the past days. Yesterday, the stock soared the next 
15.62%, on a traded volume of over 1.5 million shares.
Apparently, the progressive move was supported by the company’s latest news. About a week ago, FMS announced they have entered into a letter of understanding for the opening of their new facility in Greece. According to the announcement, FMS anticipates the facility to generate gross revenue of approximately $5 million annually.
The optimistic projections have certainly inspired investors and fueled up the climb. Though, there’s another key factor to pump up the stock price.
Yesterday, FLMG was promoted by Penny Stock Finder Inc. who spread out more alerts on the stock to secure its chart position.[BANNER]
In fact, less than ten days ago it happened again. At that time, promotional alerts on FLMG pushed up its stock price at once, despite the lack of recent news on the company.
Meanwhile, the financial results of FMS remain unchanged. The company’s last 10-Q states that its liabilities are about $1 million higher than its total assets, while FMS still has a long-term debt to cover. Besides, its accumulated deficit exceeded $4 million by end-December 2010, which makes the situation much worse.
Obviously, FMS has chosen to rely on promotions and projections until it finds a way to get profitable.
