There are some people who still think they can invent a better mousetrap. In theory, those are admirable aspirations but it is always unfortunate when the trap snaps around the fingers of eager investors.
InterCore Energy, Inc. (OTC:ICOR), a company with similarly bold aspirations in the field of green energy, got a promotional pump today. Tying with the company’s latest news release from Friday, about advances made by a holding of ICOR, the pump touts the company’s stock.[BANNER]
Pumpers may be facing an uphill battle, seeing how the fine gentleman James F. Groelinger, CEO and Chairman of ICOR, previously ran a privately-held company named EPV Solar, Inc. Nothing wrong with having experience, unless that experience is running a company into the ground.
A former spokeswoman for EPV, Ms. Dolores Phillips, who was forced to leave the enterprise, claimed the issues were not due to the fact that the solar energy market had shrunk but were rather caused by the poor ability of EPV to maintain capital.
EPV was forced to file for bankruptcy in 2010, with $10 million of debt.
ICOR is not quite there yet, but the latest 10-Q doesn’t look promising:
- $20 thousand in total current assets
- $6.1 million in accumulated deficit
- zero revenues for Q1, 2012
ICOR is not trying particularly hard to cover up its current situation either, with the 10-Q figures and the fact that the same document states that the continued survival of the company is largely based on the premise that they will obtain additional equity or debt financing and will generate revenue – something they have not been particularly successful with during 2012.
Looking at a previous promotional attempt by VIPPennyStockSite, and the result it yielded for NOST, investors would be wise to check everything twice and do their due diligence.
Nobody wants to walk away with a nasty cut on their finger instead of some tasty cheese.
