Geopulse Explorations, Inc. (OTC:GPLS) is an Albuquerque-based pre-exploration stage company. GPLS has been traded very rarely and with small volumes. However, things may change.
Yesterday, an impressive amount of GPLS shares changed hands – approximately 1.2 million. GPLS closed 3.66% up at $0.34.
A very likely reason for the unusual volume is the press release issued by the company yesterday. In the announcement GPLS states it has completed its first stage acquisition strategy and will now be moving forward.[BANNER]
This year GPLS has acquired a metalliferous mineral and copper property, a mineral property with gold exploration potential, and most recently a potash property lease. All of them are located in Utah.
Additionally, after the markets had closed yesterday, we received a paid promotional newsletter advertising GPLS. Apparently, the volume was perceived by someone as a signal that GPLS needs more exposure. An undisclosed third party paid $10 thousand for the promotional services.
What the market reaction will be depends largely on how traders see GPLS. At $0.34 per share GPLS has a market cap of approximately $46 million. Currently, GPLS is still to actually do exploration and the result of that is not clear at all. The company’s assets on April 30 totaled $19.5 thousand, the company had working capital deficiency and, naturally, no revenue at this stage.
