Colorado Stark

Breaking News - GBEN Heading Down a Slippery Slope

by Colorado Stark July 26, 2012
Damn Good Penny Picks just released Global Resource Energy (PINK:GBEN, GBEN message board) as their latest pick for today.  Usually this brings a lot of activity to a stock, but this isn't the kind of activity that necessarily leads to a profit.

If you look at some of the recent picks to come out of this touting newsletter for the month of July, the numbers paint a picture that would scare the heck out of anyone interested in keeping their money.

  • MJWL - Dropped 85%+ in 3 weeks
  • NOUV - Dropped 50%+ in 2 weeks
  • LDSI -  Dropped about 40% in a week
The charts below clearly illustrate the pain investors have suffered.  We will have more on this story later.
mjwl-2png.gif

nouv-2.png



UPDATE:  9:45 AM

A quick look through the most recent 10-q filings shows weakness in the financial situation of GBEN.  They are almost completely out of cash and are loaded down with debts.

GBEN-Balance-Sheet.png

The stock pumping outfit sent us an e-mail a few minutes ago talking about some press release stating " This is massive news for the company " 

Meanwhile the company's auditors slapped this little Going concern into their financial statements:  " further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern ".  Perhaps management of the company can help clarify to shareholders how they intend to stave off what the auditors fear.

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