American Energy Development Corp. (OTC:AEDC) is being prepared for a paid pump, which may start today.
A promoter calling himself Mister X is touting the stock. The disclaimer reveals that Themis Partners Ltd. paid $25 thousand for the coverage of AEDC.[BANNER]
The pump campaign began some time around the closing bell yesterday. The promoter claims he got his hands on a new stock report about AEDC which “could be just days away from hitting physical mailboxes…”
He also says the report in question gives a price of $1.25. He does not, however, say how or why he would have that report.
In the second half of March, AEDC issued a number of press releases concerning financing and operations. Despite the abundance of positive news, AEDC stock hasn’t been very liquid and the price hasn’t made any dramatic moves. Yesterday, AEDC closed up 2.73% at $0.94 on 238 thousand shares.
At $0.94 the market cap of AEDC is approximately $82 million. The company’s assets, as per the quarterly report for the quarter ended December 31, 2011, consisted of approximately $15 thousand current assets and $1.8 million in unproved oil and gas property.
We don’t know whether there will be a physical mail campaign or not, but either way the email pump could affect trading today. It may provide an opportunity for some to make some money if they know what they’re doing.
