You know those stories where an underdog makes a revolutionary discovery that can change the course of history and in the end it really does? Sadly, this kind of thing can happen only in the movies.
A paid pumper newsletter touted China Education International, Inc. (OTC:CEII) stock yesterday. The overly elaborate pump piece promises hilarious return percentages but that’s no wonder when the pumpers received $10 thousand in compensation.
The stock touted is CEII, a company that operates in China and offers educational services, promising to be the future of teaching English as a second language. The company has been collecting cobwebs on the market, with no sales over extended periods of time prior to July. All their filings for the new year consist of a share split 8-K and a delayed 10-Q for the first quarter, with the Q2 filing nowhere in sight. A new quarterly would have been nice, especially when the company is being pushed by paid pumpers.
A few figures from the 10-Q for those more cautious among traders:
- $2.1 million in cash assets
- $3.3 million in current liabilities
For your inconvenience, pumpers have mailed the promotional newsletter disclaimer as an image. Here’s a quote from the actual disclaimer: “… shareholders will be selling shares during the dissemination of this report.” That says about enough, it seems.
Previously BuyPennyStocks have pumped various companies but their success in losing their subscribers various amounts of money has been persistent. Looking back at two other pumps by the same promoter, ORYN and NRTI, the results can be seen on the charts.
The underdog who changes the game is a beautiful story but traders should do their own due diligence before they choose to hop on this one.
