Georgi Kamburov

Traders Return to PacWest Equities Inc (OTCMKTS:PWEI)

by Georgi Kamburov September 12, 2013
PWEIchart1.pngYesterday PacWest Equities Inc. (OTCMKTS:PWEI, PWEI message board) once again found themselves among the most traded stocks when they rose by 10% to close at $0.05. The positive movement happened on the record for 2013 number of 7.4 million traded shares. Although interest in the company may be on the rise its price levels are no way near the ones from last November.

Back then it made a tremendous run up the chart and in just a couple of weeks reached $0.75 per share. Unfortunately a series of pump campaigns devastated the ticker and it lost more than 90% of its value. The last wave of email alerts came in early August and were mainly sent for free.

ETEKchart1.pngThe Stock Scout, who were part of it, later that month moved to tout the stock of Eco-Tek Group Inc. (OTCMKTS:ETEK). The company crashed on the very next day and is currently trading for a little more than a cent per share. The two companies also have something else in common - both of them have a landing page that is created by StockTips.

PWEI themselves have gone silent with the latest announced dated August 5. It revealed that the company was invited by Brazilian officials to bring its line of solar manufacturing equipment to the country. Well, we have no way to find out if they actually managed to go there but looking at their fundamentals it is more than doubtful. For the second quarter of 2013 they reported having the following:

  • $131 cash
  • $50 million intangible assets
  • $154 thousand total liabilities
  • ZERO revenues
  • $31 thousand net loss

Those impressive intangible assets represent the solar technology line they bought from DayStar Technologies, Inc., a company that was once listed on NASDAQ. And why exactly are they valued at 50% million? Well, apparently that is what some anonymous "analysts"said they were. The deal took place back in February but PWEI haven't managed to earn a dime.

Alkaline Water Co, Inc. (OTCBB:WTER) managed to break through the $1 dollar mark yesterday. The company is allegedly being backed by a $3 million pump. On the other hand the former Awesome Penny Stocks pump Xumanii, Inc (OTCMKTS:XUII) slashed 41% of its value and reached a new low of just $0.02 per share.

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