Another PR for another sudden sharp jump in the stock price of Global Earth Energy Inc (PINK:GLER). While a 100% increase for a day is a fabulous development on the stock market for some companies, for GLER it is an established pattern. It takes just a press release for the hype to form. 
This Tuesday fits the pattern above. Global Earth Energy announced another conract and the figure $360 million associated with it. The result – an all-time high in trading volume and a 75% increase in the stock price. More than 250 million shares exchanged hands, the session closing at $0.005 per share. So, still in sub-penny levels. The question at hand – if such announcements make up for one-day hypes, what would it take for a pattern of sustainable growth to appear on the stock market?
An important issue, since the broader picture is not that optimistic as the yesterday stock performance. Regular sudden jumps aside, GLER has been declining steadily for quite some time now. It is just a matter of hand before press releases are no longer able to inspire traders. After all, Global Earth Energy has been issuing them for quite some time now – great new joint venture, contract for hundreds of millions in potential revenues, letter of intent to bring millions of dollars eventually. All in all, it is the potential, marvellous revenues which have been coming for quite some time now, but have not arrived yet. According to the latest 10-Q with an end date Feb.28th,2011, the company had: [BANNER]
- $21k in cash;
- $21k in total current assets;
- $4 million in liabilities;
- $14 million in accumulated deficit;
- no revenues;
- $835k in net loss;
A balance sheet, which does not really inspire confidence, let alone fit the information in the press releases. The point is, if a reverse of the negative trend does not happen soon, what would happen to this stock until the end of the year?
