Violeta Slavtchevska

Global NuTech, Inc. (OTC:BOCL) Gets the First Promotion Since Last May

by Violeta Slavtchevska January 31, 2012
Global NuTech, Inc. (OTC:BOCL) announced two acquisitions recently but its market valuation may not experience the possible positive effect of that soon. This week, the stock will trade under a new promotion. BOCL.png

BOCL closed at $0.20 for a share yesterday, losing 2.38% in value on a trading volume more than twice the 3-month average. The stock price fell to the $0.18 support level short before market close, but then increased again to the middle of the most recent trading range.

BOCL received a new promotion last night. We have detected only one promotional e-mail on the company which has been compensated with $10,000 by a third party. It is the first promotions since May 14, 2011. BOCL yearly chart shows that at that time it was already in a downtrend but surged strongly up at the time of the promotion.

The new campaign will run over a week, yet there is no guarantee it will achieve the same surge of BOCL share price.

About ten days ago, the company announced a letter of intent to acquire Texas Gulf Oil & Gas, Inc. whose main assets, according to the press release, include among other leases, options and interests in 19 oil wells located in Austin Chalk near Luling, Texas. The LOI requires that the acquisition be completed today, thus news may also come out along with the promotion.Global_Nutech.jpg

Previously, BOCL announced the acquisition of International Plant Services, LLC. (IPS). The sellers of IPS received BOCL shares valued at $15 million, while the corresponding 8-K says that IPS had last year over $30 million in gross revenue.

Another SEC filing reveals that BOCL issued 29.4 million shares of common and 10 million shares of convertible preferred stock in connection with that acquisition, which multiplied the company's outstanding shares. That makes a current market value of around $8 million.

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