During its short existence on the OTC, AvWorks Aviation Corp. (PINK:SPLI
) has managed to rack up a number of promotions
. The latest one
could affect trading today.
SPLI, formerly Datamill Media Corp., acquired Young Aviation through a share exchange agreement. SPLI used to be a shell prior to the acquisition. Joel A. Young is not the President, CEO and sole Director of SPLI.
On Friday, SPLI closed down 14.72% at $0.0585. At approximately this price some press releases and previous paid touts helped SPLI to a significant price increase.
This time the compensation disclosed by the promoter is $10 thousand. As far as compensations go, this is by no means impressive, and keeping in mind the previous promotions were not quite far off in time, today's tout may not work quite as well.
It is important for traders to do their due diligence, and if they do, they may find that SPLI may no longer be a shell but it's not like it's turned into a profitable enterprise overnight.
The financial results reported by Young Aviation are hardly inspiring, and press releases may work for short spikes, but SPLI will have to provide some good results for a stable run.