General Metals Corp. (OTC:GNMT) was about to break the support level of its trading channel in the last two sessions, but today it may move up again. The company has been recently covered in an analyst research report, and yesterday GNMT got also its first promotion. 
GNMT closed the last session with a 14.81% decline at $0.023 for a share on a trading volume of 240,000 shares. The share price is still within the trading channel, thus it is possible that the promotion of GNMT has a strong effect today.
The e-mail arrived last night and an undisclosed third-party paid $4,500 for the advertising service. In addition to that, earlier this month the company received some other positive coverage. In a press release from last Wednesday, it has been announced that a private research firm has prepared an analyst report on General Metals Corp.
Similar to the promotions, the report cannot be considered completely unbiased. It ends up with a disclaimer saying that $6,500 have been paid by the company itself and a third party for the preparation of the report.
GNMT latest 10-Q does not look promising as well. Although the company’s President and CEO claimed in an announcement from end-December that GNMT had raised $366,500 since July last year, the balance sheet showed only $24,240 in cash and equivalents as of end-October 2010. GNMT has no source of revenue and has apparently still no cash to set its single mining project into production.
