A new promotional campaign in support of GeoBio Energy, Inc. (PINK:GBOE) has just flooded investors’ e-mails. The reason: a new press release.
As soon as GBOE announced the conclusion of a definitive purchase agreement with a gas service entity, investors embarked on a heavy trade with GBOE shares. By the end of yesterday’s session, more than 20 thousand shares changed hands, marking a triple improvement over the previous day. As much as the movement volume was significant, a change in price never happened. Thus, GBOE stock closed trade at its Wednesday level of $0.03 per share.
Dissatisfied with the aforementioned scenario, third parties wasted no time in organizing a paid advertising campaign to give GBOE stock the boost it failed to achieve yesterday. For this purpose, they have pooled $10 thousand hoping for a big bounce in the forthcoming session. Which, as a matter of fact, does not seem such a far-fetched hypothesis considering what GBOE did the last time it was pumped by the same promoter.
In alignment with the news mentioned above, GBOE specializes in acquiring companies that occupy the oil and gas industry. Moreover, the company aims to develop more efficient green technology services to ensure better natural resource usage.
Although GBOE is a transparent financial information provider, the company was on the brink of losing this status when it submitted a notification of late filing for its first quarterly report for 2011. Fortunately, GBOE managed to fit in the extention period without further delays and investors can now examine the full-blown 10-Q form. As of Mar. 31, 2011, the company’s unaudited balance sheet indicates:
- cash reserves of … $31K;
- working capital deficit of $3.2 million;
- zero sales and a net loss in excess of $2 million.
As long as GBOE continues to incur losses incrementally, its chart position will be fairly dependent on paid promotional schemes attracting the attention of all risk lovers in pennystockland.
