couldn’t hold the previous-day gain. Though, it looks like First Liberty will not give up fighting for the climb so easily.Just when the stock started falling down, the promotions of FLPC were renewed. In fact, the stock has been promoted throughout the whole February by Winning Media, who has compensated the promoters each time. FLPC appeared in ten e-mails by yesterday and the February campaign cost $47.500 in total. Is there a new hope for investors? Apparently, First Liberty’s next move depends on promotions, no matter what the final result will be.
The fact is that every time FLCP gets promoted, the company re-ensures its market position by optimistic news. The same thing happened yesterday, when First Liberty published a corporate update on its current activities and exploration opportunities planned for this year. Among the other news, the company announced it has sold its Uravan Vanadium and Uranium claim to the non-related party New America Energy Corp, intending to utilize the proceeds of the sale for developing its lithium opportunities in Nevada. Now FLPC is expecting its detail survey report, as well as the investors.
First Liberty Power Corp. is a Nevada based mineral exploration company with a primary focus on lithium exploration and development in the US. Lately, the stock price is quite unpredictable as FLPC has been often promoted since the beginning of this year. Apart from its regular promoter Winning Media, FLPC has even paid a campaign itself, which cost the company $15000.[BANNER]
Meanwhile, the financials of First Liberty remain disappointing. As the company is still in the exploration stage, it has engaged in limited operations and has no revenues. As of end-October 2010, the deficit accumulated during the exploration stage period was over $484 thousand, not including the expenses and the net loss uncovered.
Based on the incurred losses since inception, the management of FLCP claim they cannot be certain if the company will generate sufficient revenues to sustain its operations. In this case, the future of First Liberty will depend on additional financing and eventually, more promotions.
