Yesterday, both the share price and the trading volume of Gold Dynamics Corp. (OTC:GLDN) suddenly exploded. The action came in response to a new press release from the company issued before market open, and to new promotional activity.
GLDN closed the session with a 77.43% increase in its share price at $0.0621, reporting at the same time a new highest price for the past six months. The trading activity saw also a new record with nearly 7.8 million traded shares just in one day. RSI touched the oversold area, while GLDN crossed also the 200-day moving average.
Gold Dynamics financial statements show that it is a company that has barely any operational activity. Its reports show no revenue, cash or assets whatsoever, only $37,000 in accounts payable and $7,000 in general and administrative expenses. Yet, the company claims to engage in the exploration of mining properties and yesterday it even an announced an agreement to acquire the Lake Ste-Anne property from Fayz Yacoub, P. Geo and Remy Yacoub.
Purchase price is a combination of $160,000 in cash and 1.2 million GLDN shares of common stock. Obviously, shareholder dilution is unlikely to end up here, but at least investors have observed that the low-priced and illiquid stock reacts positively to promotional efforts. Yesterday, we have detected two promotional emails on GLDN for a total compensation of $33,000.