African Copper Corp. (OTCBB:ACCS) Not for APS, After All

Enough was enough for African Copper Corp. (OTCBB:ACCS). The ticker neared 20 cents, but very quickly buyers from the past days turned to sellers, locking profits as soon as possible. The gain was a mix of press releases, side promotions and the rumor that ACCS may be the next pick of Awesome Penny Stocks. The ticker was mentioned on one of the numerous affiliate sites of APS, and just the little chance that ACCS would receive a long-term pump from one of the leading penny stock newsletters was enough for a few extremely good days. ACCS0514.png

But this was soon over, as the central promotion never materialized, and ACCS was carried by a few emails from smaller pumpers, waiting to log some of the gains that APS could have achieved more successfully. GOFF0514.png

Otherwise, ACCS is a vehicle ticker for the Africa-based mining company, and still the company’s main activity is listed as education services. Past records of this business show the following financial picture:

  • $30,035 cash
  • $173,262 total liabilities
  • Zero revenues
  • $17,185 quarterly loss

A 13-D filing with the SEC reveals how ACCS switched identities. On April 2nd, the company’s CEO and president Andrew Stone acquired 720 million shares for $18,000, and later retired 620 million shares in exchange for a promissory note for the amount of $9,300. This left Stone with 100 million underpriced shares, which he could continue to sell for profits, given that even the depressed price of ACCS is high enough. 

The reason APS is expected to make a new selection soon is the long run of the Goff Corp. (OTCBB:GOFF) pump, which already seems beyond repair, after the last email landed on April 19th. There is little warning what the new candidate would be- any company could be taken to unreasonable heights with enough mentions that reach new investors, as well as old ones who appreciate the APS effect.

The loss for ACCS on Monday was more than 43$ to 8 cents per share, a price that could continue to drift or fall further as interest in the ticker wanes. If ACCS manages to pull out a press release or two, some gains may be expected, but it is best to stay away from ACCS unless you could afford losing a big part of your investment.

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