FO ME? FOFU!
A normally quiet Friday as the touts and the scammers take 3 days to live it up on the ill-gotten booty they've managed to squeeze out of the public.
The one new Pump & Dump subject today is Force Fuels (FOFU) a purported energy producer with $48K in the bank and $1.2 million in debt and a grand total of $49K in revenues over 9 years. That's some producer.
FOFU is likely to use their classification as "producer" to try and run their stock and enable insiders to profit. This is a common scheme by marginal producers whose production revenues do not cover the purported costs of the production, resulting in losses, but sound impressive by their ability to produce. In fact FOFU, all but says this within their boiler plate footnote;
"In the oil and gas field the company plans to focus on the purchase of marginally producing shallow oil wells..."Well marginally producing wells, produce marginal revenues, no matter how cheap it is to produce.
Those who jumped in over the summer, the last time FOFU showed any meaningful volume, are currently enjoying up to 60% losses. Still, the relatively low market cap of $800K is libel to attract pigeons to this pink sheet promotion.
We've received several emails asking us if MacroSolve (MCVE) is involved in a Pump & Dump campaign. We're not sure why this particular company has been singled out by readers and none have forwarded any promotional materials to us, but the volume of inquiries inspired us to take a look. We see no evidence of a current scheme and although trading volume has certainly picked up over the last 10 days, we cannot find any promotions which may have increased interest in the stock. We think that visibility may have increased because of a lawsuit announced by MCVE, implicating AT&T, Citigroup, Salesforce.com, Dell and other major companies in patent infringement. According to a recent MCVE press release;
"The patent, a significant intellectual property asset to MacroSolve, further advances its position as a leader in the mobile solutions market. The patent addresses mobile information collection systems across all wireless networks, smartphones, tablets, and rugged mobile devices, regardless of carrier and manufacturer, and is currently utilized in MacroSolve's ReForm XT™ rapid mobile app development platform. MacroSolve's patent covers fundamental technology in the mobile application space utilized by multiple companies."We are not endorsing this press release, MCVE's patent or their lawsuit, but if any of this hold's true, then obviously this could explain the recent increase in trading volume. We hope that this discussion will stem the tide of inquiries we are receiving. Assuming that MCVE is not running a scheme, then we applaud the refrain of using paid touts to push insider stock and instead using the method that we have always endorsed to promote a public company: press releases and actual developments. We do not currently own shares of MCVE ourselves but will monitor the litigation out of interest.
Since Thursday's close:
MicroCapRunners.com and at least 1 other paid tout have been touting FOFU in conjunction with a new Pump & Dump campaign.
HotShotStocks.com has been touting BYRG in conjunction with an ongoing Pump & Dump campaign.
HiddenGemStocks.com and at least 1 other paid tout have been touting SPOW in conjunction with an ongoing Pump & Dump campaign.
PennyStockNewsLetter.info has been touting EMPM in conjunction with an ongoing Pump & Dump campaign.
PennyStockExperts.com has been touting POTG in conjunction with an ongoing promotion.
BedfordReport.com has been touting NYXO in conjunction with a long term Pump & Dump campaign.