Nelly Shishkova

Liberty Energy Corp. (OTC:LBYE) Climbs Higher on Promotions

by Nelly Shishkova February 4, 2011
Liberty Energy Corp. (OTC:LBYE) has been advancing up these days. Along with the price jump, its traded volume also LBYE_chart.pngprovoked attention as yesterday it exceeded 1 million shares.

According to the records, LBYE started to move up on Feb 2, when the company reported it was buoyed as the oil tops $100 a barrel. Attracted by the optimistic news, the stock price rose up, though Liberty Energy decided to re-ensure the up move. Yesterday, LBYE was promoted by Daily Profit, which additionally pumped up the share price. According to stockpromoters.com, the compensation for the promotion was one hundred twenty three thousand and one hundred dollars, paid by Capital Financial Media on behalf of Liberty Energy for the distribution of email advertisements. Obviously, the promotional campaign worked up and LBYE still holds the progressive move.

Liberty Energy Corp. is an Independent Oil and Gas Exploration and Production Company dedicated to the sourcing and production of fuel supplies in the US and Europe. Historically, the company's stock price has had sharp ups and downs and last year it was traded at over $1.00 per share. Though, presently LBYE's trading range is $0.51 - $0.60.

Liberty_Energy.gifAccording to its 10-Q report, as of end-October 2010 the company's liabilities were lower than its total assets, however, the deficit accumulated during the exploration stage has been increasing, as well as the net loss. The financial report states that as the company's revenues are insufficient to meet its operating expenses, future issuances of LBYE's equity or debt securities will be required. In fact, the company's balance sheet shows zero revenues and its ability to raise additional capital through issuances of common stock is unknown. Thus, the mentioned above raises substantial doubt about LBYE's ability to continue as a going concern.


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