On Friday, NYMH stock jumped 55.56% up to close at $0.7 for a share and the over 567,000 trading volume has not been seen over the past three years.
The solid promotional record for NYMH stock from last year continued expanding this year as well. The first promotions for this year were officially disclosed on Friday and the list of promoters working for the stock got enriched by two new members. The first one received $30,000 for 60 days of promoting, the second one got $25,000 from a third party for the advertisement. Thus, as a large number of alerts attacked investors, NYMH chart got improved by a bullish MACD crossover, RSI pointing up and the price breaking up its trading channel.
The usual two press releases a week were also provided. The one from Thursday announced a five-year contract with a large iron mine located in Chile and the promises for growing revenues got even stronger. The “second quarter results” of the company, showing exponentially growing sales. were also announced to the press on Tuesday.
The large increase was supposedly due to the recent acquisition of Vican Trading Inc. According to the latest financial report submitted with the OTC Disclosure & News Service, in January this year Nymet agreed to purchase all the shares of a company named Vican Products Distribution Canada, Inc., subject to issuing to Vican shareholders a number of shares equal to 10% of Nymet’s outstanding shares, as well as to the recapitalization of the Nymet. Further, Vican shareholders had the option the purchase their company back if Nymet is unable to provide $2 million in working capital for Vican’s expansion and development.
There is no any kind of official information for Nymet to have raised funds recently or to have completed this acquisition and in their previous quarter report submitted with the OTC the company had no cash, extreme working capital deficit and a net loss for the period. In the meantime, end of last month a “victim” of some similar companies warned investors to stay away from Nymet Holdings.
