On Friday FORC closed the market at $0.18 for a share and 42,850 traded shares. Today the stock may see much more action as a new costly promotional campaign started yesterday. According to the e-mails that arrived in out database, a number of promoters have shared the above mentioned compensation, thus the new promotion could easily have a broader reach and achieve better results than last week’s promotions.
In any case, it is important that traders pay attention to the details and do their own research on Force Energy. The option for 4.3 Million barrels of oil at the Diamond Spring Prospect mentioned by one promoter does not exist for FORC anymore as the company’s latest 10-Q says that following the exploration results the company has abandoned its interest in that prospect already last year.
Others were well updated on FORC projects, but still the focus is more on the lithium industry and less on the company. In July Force Energy acquired an option to purchase a 100% net undivided interest in the Zoro 1 mineral property located near the East Shore of Wekusko Lake in west-central Manitoba, Canada.
So far the company has made only the initial payment of about $60,000 and has to pay another $664,000, a first part being due on June 15, 2011. Until the option is exercised, the company has no rights on the mineral claim. According to FORC balance sheet, at the end February 2011 the company had $8,354 in cash and $4,770 in prepaid expenses, by far insufficient to cover the second payment for the Zero 1 option.
