Urban Barns Foods Inc. (OTC:URBF) is just starting out, but someone saw it fit to pay for a promotion. There have been some announcements by the company, but it may prove to be too early to go for a paid pump.
URBF hasn’t been traded too actively, although there seems to be some interest lately. Yesterday, URBF closed down 6.25% at $0.15 on 30 thousand shares.
The promoter who was compensated $55 thousand states “URBF’s advance is so spectacular it could soon be the fastest growing company in North America!”[BANNER]
Such a statement seems ridiculous when you look at the information available. The $55 thousand compensation is actually more than the total current assets reported in URBF’s 10-K.
In truth, URBF issued two press releases recently which hint at the company starting to move, but the above statement is still baseless.
On Oct. 20, the company announced forming a subsidiary in Puerto Rico, and on Nov. 28 URBF issued a press release about a MOU. Both announcements were met with an insignificant market response.
The promotion could attract more interest to URBF today, but the company is too young and has too little to put on the table to have a sustained run up at this time.
