Amarium Technologies Inc. (OTCMKTS:AMMG) Is Determined To Go Up
Amarium Technologies Inc. (OTCMKTS:AMMG) hasn’t registered a red session in about two weeks now and while there was a slight hesitation on Monday, the ticker is still marching strong. Some people around the message boards seem convinced that the ascend will continue, but will that be the case?
Well, it’s fair to say that the PR department is doing a fair job at getting investors excited. Apparently, a new mining property was acquired on August 21, then on September 3, they said that a new expert in the mineral exploration business has been added to the Board of Directors. Two days later came the news about the completion of the first phase trenching of the Jovita program and on Monday, they said that they have received a $4.5 million payment from one of their partners. You can see that the future does seem bright, but we often like to advise the regular penny stock trader to keep a particular motto in mind while he/she is checking out the options. The aphorism in question is “If it sounds too good to be true, it probably isn’t.” and when we decided to dig a bit further into AMMG‘s optimistic press releases from the last couple of weeks, we saw that there are some things we’re not terribly sure about.
Let’s start with the latest announcement – the one about the $4.5 million payment made by AMMG‘s partners, Anglo-Asia Resource Partners. The proceeds are part of an agreement dated June 5, the total value of which is $8.75 million. That’s quite a lot of money and it was only normal to check who is ready to invest such colossal amounts of cash in a company that nobody has ever heard of. AMMG tell us that Anglo-Asia is a Hong Kong-based partnership and, unfortunately, that just about sums up the information available about them on the Internet. In fact, when you do a quick Google Search, you’ll see that the entity paying millions of dollars is virtually non-existent outside AMMG‘s reports and press releases. The same goes for Mr. Sebastian Cervantes Cuevas, the mining veteran that was added to the Board of Directors last week and since we started checking into people and entities that are in one way or another related to AMMG, we decided to be as thorough as possible.
Back in August 2012 the management team decided that it’s time to reduce the debt a little bit and in order to do that, they issued 42.3 million common shares valued at $0.005 to an entity called Global Infinitum Market SA de CV. The enterprise that got the discounted stock is also non-existent according to the mighty Google. Another enterprise called Calissio SUR SA also has quite a lot of AMMG shares (450 million valued at $0.01) and they too appear to have vanished from the face of the Earth. Much the same thing is witnessed when you look for Minerales Consolidados S.A. de C.V., the former owner of the prolific Jovita Mine and all these things are rather disturbing considering the colossal amount of money involved.
Is there anything else to get scared about? Well, their corporate headquarters appears to be offered as a virtual office and they share it with two other penny stocks – chatAND Inc (OTCBB:CHAA) and Ideal Financial Sol (OTCMKTS:IFSL). This would normally be a rather big red flag, but it’s nothing compared to the ongoing promotion running for AMMG.
Third parties have spent at least $37 thousand (including the $12 thousand campaign from June) on touting the ticker and while that sort of budget is nowhere near as big as the ones for Alkaline Water Company Inc (OTCBB:WTER) and North American Oil & Gas Corp (OTCBB:NAMG), there’s so much hyping going on, that the stock might cave in under the pressure at any moment. Even if you are convinced that AMMG are onto something, treading carefully and considering every move is definitely a good call.
