Resource Exchange of America Corp. (OTC:RXAC) finished Tuesday’s session with a 3.70% increase in the stock price. Volume was also on the rise as from the start of the week it showed a fourfold rise as compared to the average value.
Several promotions of the stock took place on the same day, being carried out by Solvents Stocks, The Bull Report and Top Gun Stock Pics. Solvent Stocks have been promoting RXAC stock since Sept. 26 and reported that they have been “compensated $1,000 by a third party (Raincity Marketing Group) to provide communication services for Resource Exchange of America Corporation (RXAC)”. A couple of weeks earlier, on Sept. 02, stockpromoters.com reported that Wall Streets Hottest Stock were compensated “twelve thousand five hundred dollars cash by a non-controlling third party, Cissonius N.V. for the advertisement on RXAC”.
RXAC.ob is a recycling corporation engaged with asset recovery, processing and brokering of ferrous and nonferrous scrap metal. It was incorporated as late as 2009 and has already been referred to as a “Green Giant”. It can’t be figured out though, if “green” represents the fact that the company is newly fledged or environment friendly.
RXAC.OB has achieved a net profit of $148 thousand, which was unfortunately engulfed by the company’s expenses, resulting in a net loss of around $53 thousand. Assets are nearly two times lower than liabilities. $28 thousand have flown out of the company, leaving it with $4,683 cash and cash equivalents at the end of the quarter.
After all the above-mentioned facts, it should be taken in consideration,whether the company will be able to carry out its mission with such amount of cash.
