While the stock promotions get more and more aggressive and costlier, the company’s business that seems to be standing still has suddenly become again highly attractive for traders. According to the new promotional disclosures, this month all LBYE promoters can be systematized in two consolidated groups and one single player.
One of the groups discloses a compensation of $1,200,000 for the online advertising of the shares, the second group is much more modest and has received only $4,500 for covering LBYE this November and the third one got $22,700 from a third party. Yesterday was the forth winning session in row for the stock of Liberty Energy as the share price rose by another 13.89% and closed the day at $0.82 on a trading volume exceeding half a million shares.
Maybe not to lose the fundamental side as well, recently the company also filed its latest annual results for the period ending this July, and announced to traders four times in four almost identical press releases that it has made progress on four wells at its Lockhart Lease in Caldwell Country, Texas.
No progress is noted in the 10-K though. The company still has no considerable operations and no cash to cover even its general and administrative expenses, which are still the only thing the company spends money on.
The announced in July $4 million investor that was supposed to provide cash advances to Liberty Energy in exchange for shares and warrants has also not yet made his first investment in the company, but thanks to the promotions LBYE shares look again like a good investment for day traders and shorters.
