Spectrum Acquisition Holdings, Inc. (PINK:SPAH) is no stranger to paid pumps and there is another one coming for today. It could be more exciting if the last few promotions worked.
Yesterday SPAH closed down 2.54% at $0.0115 on a volume of 897 thousand shares.
Apparently, a $25 thousand compensation was enough for StocksGoneWild.com to feature SPAH as its pick and say “SPAH in at the forefront of changing traditional mining methods.”[BANNER]
Vague claims like this one are often difficult to refute, but if the promoter had to back it up it wouldn’t be easy either. SPAH hasn’t announced anything since its press release from Jan. 26.
The title of the press release was “Spectrum Acquisition To Commence Core Sample Analysis.” While it sounds like something big, the press release itself didn’t give any expected dates about the results of the analysis.
The latest financial data about SPAH dates back to Sept. 30 and it didn’t look too good:
- $6,472 total current assets
- $626,610.73 accounts payable
- $0 revenue
- $177,053 net loss
SPAH effected a 10,000 to 1 reverse split in October, but that didn’t help the situation in the slightest, and it’s not quite clear what is going on with the convertible note for $2.3 million.
The $25 thousand compensation is higher than the previous three or four, but they didn’t do much, if anything. Before anyone gets too excited over SPAH, they should definitely do their due diligence.
