Everyone hates it when they bite into a juicy apple only to find a worm squirming inside it. Such a scenario is only made worse when instead of your teeth, you’re sinking money in a public company.[BANNER]
Paid pumpers started touting Todays Alternative Energy Corp. (OTC:TAEC) this week. The funny part is, even though share price is slumping as the promotion goes, pumpers continue promoting the stock – an easy task when you’re getting $90 thousand to raise some hype.
TAEC claims to be engaged in the “green energy” business. Such claims may sound a little far-fetched when your company’s latest 10-Q report lists $1 thousand in total assets and current liabilities of about $2.75 million.
It gets better as you go on – TAEC is swamped in convertible notes it issued. As of April 30, 2012 the company had convertible notes payable amounting to nearly $1.5 million. Somehow, TAEC thought it wise to issue those notes at conversion rates ranging from $0.001 to $0.0001 per share. To put it in the simplest terms, should note-holders decide to convert, $100 can land them up to 1,000,000 shares of stock, just begging to be dumped into the hands of hyped-up traders.
The company recently changed CEOs and took a Mr. Hendrik van Leiden onboard. His primary task seems to be pulling the company out of the proverbial gutter. Mr. van Leiden should have probably spent some more money on proofreading to make sure TAEC’s brand new corporate site’s main page is not riddled with grammatical errors.
One of the parties pushing TAEC is paid pumper TheStockPsycho. His previous promotional attempts have been far from successful. Examining one of his previous pumps – LDSI, it seems that he’s pretty good at losing investors some cash.
Traders are advised to do their own due diligence before they do anything rash. This worm may not just turn your mouth sour, it’s may well eat your entire face off.
