July 2, 2012: In perhaps the most despicable promotion we’ve seen in quite a while, and with BestDamnPennyStocks.com involved, that’s really saying something, we are watching as big a case of stock fraud as we can recall in the 15 months of this newsletter. And that’s also saying something.
By Green Renewable Energy’s (EWRL) own admission, the stock dividend, which was announced on Wednesday, in a last second attempt to support a miserably failing Pump & Dump, has not even been approved by FINRA. In other words, EWRL is selling you a bill of goods that they don’t even know if they can sell you. And who knows when the stock will be issued, if at all!
And who ever heard of providing no notice of a “dividend”, giving the hopeful beneficiaries two days to get in “or else”?
Now we find that this admission by the company requires us to restate our earlier warning and correct ourselves: the share price will not open at half of Friday’s close, because the “dividend” is not effective yet. Therefore, the number of shares issued and outstanding has not doubled yet. But we’ll bet that the share price will be cut in half today through sheer dumping by the insiders and the dupes who figure that they’re about to get free stock anyway. To that we say, “Maybe, but EWRL will be trading in the single digit pennies when you do”.
Here’s the worst part. With the pimps continued effort this morning to bring more suckers into the fold, today’s buyers will eventually see the share price cut in half (assuming that the “dividend” is approved) and will get no benefit from it. Remember? To get additional “dividend” stock, you had to be a shareholder by last Friday. So “surprise”, one day those who buy stock today will wake up one morning to see the value of their holdings cut in half.
On the other hand, what’s half of zero?