A recap of the business activities of GolfGear Intl Inc (PINK:GEAR
, GEAR message board
) was published in the form of an official press release yesterday clearly aimed to give GEAR stock a substantial boost. Promoters also took advantage of the PR as it provided a solid basis for their promotional newsletters
Basically, what GEAR actually did was to summarize a couple of its past press releases into a new one.
As a result, GEAR stock went up approx. 10% to close the session at $0.0247 per share. A total of 474 thousand shares of common GEAR stock changed hands. Thus, GEAR put on a positive performance for the second time in a row. Nevertheless, the current value of GEAR stock still remains nowhere near its 52-week high of $0.18 reached in late September. Nor has it managed to regain what it lost on Dec. 12 when the company's stock slumped by a staggering 61% falling from $0.05 to $0.0195 per share.
Now, let us go back to the promotional issue. As it is, a stock promoter claims to have previously been compensated for profiling GEAR stock. Instead of monetary compensation, however, the promoter has received 140 thousand free trading shares of GEAR stock at an average price of about $0.0322 per share. Considering that GEAR is currently traded at around $0.024 per share, it will most probably need another boost in order to go the extra mile. Should such a scenario become a reality, the promoter in question will waste no time in shorting these shares, which is why interested parties should beware of making hasty decisions.
The numerous recent stock cancellations have allowed for a major decrease of GEAR's O/S thus making it more attractive to potential investors. The same goes for the acquisition of Western Sierra Mining Corp. Yet, GEAR managers will hardly gain wider investor support unless they start generating revenues from its property assets. A.s.a.p.