Two weeks ago, promoter Elite Pennies launched a two-day investor awareness program on Premier Opportunities Group, Inc. (PINK:PPBL). Rather than continuing on the very next day, the second round of the promotion seems to be … today.
Last night, a promotional email on PPBL reached our database containing a link to a full disclaimer. According to the latter, Elite Pennies has been compensated $3,000 for a two-day campaign on Mar. 14, 2012.
Yesterday, PPBL closed trade at $0.0141 per share, up 2.92% from its previous close. A total of 1.17 million shares changed hands, way below the 6-month high of 6.6 million hit last Friday. As seen on the accompanying chart, there seem to be no immediate indicators suggesting a sharp trend change. However, the RSI could enter the overbought zone if PPBL soars high enough in the next few sessions. The MACD shows that the stock is gathering momentum and such a scenario could become a reality if the current promotion meets with success and the company comes up with some ground-breaking news.
PPBL closed the quarter ended Sept. 30, 2011 with zero cash, negative working capital of $3.4 million, no revenue whatsoever and a net quarterly loss of $460 thousand. Whatever managers might have up their sleeves, it will certainly take ages before the company goes profitable in the light of its miserable financial health at the moment.
