Royal Energy Resources, Inc. (OTC:ROYE) is a development-stage energy company which has been silent for months, and its stock is generally illiquid. ROYE doesn’t have anything solid to brag about, but there are several paid promotions aiming at pumping its price.
Yesterday, ROYE closed flat at $0.011 with approximately 180 thousand shares traded. The day before the volume was significantly higher – 810 thousand shares, and the close at this price was a 38.89% drop.[BANNER]
As already mentioned, ROYE hasn’t announced anything since Mar. 1 this year. The latest filing by the company is also quite a while back in time – a 10-Q filed on Jul. 14.
The promotional newsletters disclose a $5 thousand compensation. The funny thing about them is that they tout ROYE as something of a new discovery which is trading at the current level because of lack of exposure.
The fact is, however, that ROYE had a lot of exposure earlier this year. That resulted in a huge spike which lasted only a few sessions. There is practically nothing new around ROYE. The lack of current information is hardly a good advertising point.
Of course, the OTC is not the most logical of markets, so there may be some activity today, but barring some exciting news from ROYE the effect of the promotions is doubtful.
