In the last trading session, Viaspace Inc. (OTC:VSPC) surged 3.53% to $0.0088 after nearly 2.3 million shares changed hands during the day.
The amplitude between the open and the close was lower than it is typical for VSPC as in the last couple of months VSPC has been making mostly two-digit percentage movements throughout the sessions.
When the official short volume data was published by FINRA, it became clear that the shorting activity was low during the day. The data shows that 450 thousand shares took part in short transactions during the day.
The Hotstocked promotional database shows that yesterday a campaign has been initiated on the company. It involved two promoters called OTC Advisors and Shamrock Stocks. [BANNER]
The campaign is a paid one and the compensation was provided by VSPC as indicated by the newsletter disclaimer. The compensation was in the form of $2,000 on one hand and 3 million restricted shares on the other.
While the compensation in the form of restricted shares does not pose an immediate threat to VSPC share value, once these shares become eligible for trading it is very possible that VSPC stock will feel dilutional pressure. Even more so when it is impossible to estimate the ration between the compensated shares and the public float since there is no official information about it.
