AAST, BDVI, PGCX – Pump and Dump Alerts – June 17, 2011
Welcome to Pump and Dump Friday, where every week we highlight a few of the bogus promotions that are going on in penny stocks.
If you dont know how these scams work, be sure to check out this free report that exposes the whole thing.
Without further adieu, here are this weeks disasters waiting to happen:
Allied American Steel (OTCBB: AAST)
Todays first bogus outfit traded almost a million shares today, hitting $1.65 a share. And just a few short weeks ago, the stock wasnt trading any shares at all hmmm.
Thats because AAST is a shell corporation and they bought another shell company with its worthless shares. Apparently, Allied now owns potential mineral rights on properties in Canada.
So for today, Allied can say theyre in the iron ore drilling and exploration business.
Wait a second they only have $25 in cash. Thats not even enough to buy a cordless drill, let alone a mining drill.
A third party, Winning Media, is paying Pennystockalerts $30,000 to push this sludge.
So watch out! These guys are hoping to extract something, just be sure its not your cash!
Black Castle Developments (OTC PINK: BDVI)
These geniuses are being pushed as the king of the foreclosed castle. Hey, thats a nice description for a group of idiots buying non-performing notes and bank owned properties.
So heres how smart they are
BDVI just signed a letter of intent to buy a 50 unit apartment building in Fresno the armpit of California. After they get done with that train wreck, they plan on squandering more scratch buying 250 homes in the same swill hole.
True real estate rocket scientists, poised to squander any capital they have. Great business plan… if the housing market wasnt in a free fall!
Pennystockalerts was paid $35,000 by a 3rd party, Equity Awareness Group, to shovel this shinola.
The King is dead chances are, they are too.
PanGenex (OTC PINK: PGCX)
Here we have another superstar, ready to reach new heights yeah, sure they will.
When you read the Going Concern statement on their financials, youll probably agree a more likely outcome would be somewhere around curb height.
Most of what they do is sell high priced cardiovascular vitamins on internet sites seems harmless enough, right?
Well, Im not so sure. You see, they say, we seek to develop and market novel nutraceuticals (vitamins) to those with heart disease.
Now, if I had heart disease, I wouldnt want to treat it with novel pills. And certainly not medications the FDA hasnt approved sure sounds dangerous to me!
But even so, thehotpennystocks / bluewave advisors were paid $50,000 by a third party, Indigo Advisors. Thats a crazy amount of money to push a company with only $3,527 in revenue.
I almost forgot right on their financial statement it says, theres substantial doubt we have the ability to continue as a going concern.
As shocking as it may seem, I doubt it too
A final word (and warning).
So that takes care of a few of this weeks inglorious pump and dumps.
Remember, theres a lot more of this going on each week than we highlight here.
As you know, penny stocks are a great place to invest your money. You just have to do your due diligence to stay away from all the scams out there these days!
Until next time
Brian Walker
Category: Pump & Dump Alerts
