Scorpex Inc. (PINK:SRPX) has been moving up since the beginning of this week. Despite the fact that its traded volume 
started decreasing, yesterday the stock gained another 4.76% to close the day at $0.22 per share.
Once on the up move, apparently, Scorpex is eager to climb higher by its familiar strategy. Namely, by promotions.
SRPX was promoted yesterday for a total compensation of $10,000. In fact, the same has happened over the past few months, when the stock got promoted again and again. As a result, its price jumped up, though the climb was broken in a while.
Scorpex, Inc. is developing its first toxic and hazardous waste storage, treatment, and disposal site near Ensenada, Mexico. Since the beginning of this year, the company has received two financing commitments of $90 million each. Nevertheless, the audit completion date for its fiscal year 2011 has been delayed.[BANNER]
And while investors are waiting for the latest 10-Q of SRPX, the only data available remains its previous financial report, which looks disappointing.
As of September 30, SRPX still had some cash on hand, though its net sales pointed $nil and the company’s liabilities were not covered. At the same time, the accumulated deficit got almost $17 million and the report was full of losses and risk factors.
Obviously, Scorpex is dependent on its financing commitments, though it is not certain whether these will cover the losses first.
