America Resources Exploration Inc. (OTCBB:AREN) Gets Back Up
America Resources Exploration Inc. (OTCBB:AREN) made a nice 18.95% bounce yesterday, as yet another round of paid pumps hit the web.
Yes, that’s right, AREN is still being touted. This is not really all that surprising in and of itself – what’s confusing is the fact that said touts seem to actually be bearing fruit, in spite of all the overwhelming amount of evidence refuting every single positive thing that the pumpers could ever come up with on AREN.
Because, at the end of the day, the company’s latest financial report showed its true colors plain enough for all to see just a couple of days ago:
- Cash & Current Assets – $146 thousand
- Total current liabilities – $64 thousand
- NO REVENUES
- Net loss – $16 thousand
Investors should not need to be told that these do not look like the figures in the financial report of an “oil and gas exploration and production company focused on the acquisition of properties”. No, rather said report looks like the record of the mediocrity and idleness of a dubious OTC Markets penny stock company that completely deserves the “Buyer Beware” black skull and crossbones sign currently stamped on its OTC Markets profile.
Regardless of that and the fact that this massed paid pump campaign has gone on for more than a month now, there still seem to be investors that think they can make money from AREN stock. Said opportunistic traders should be extremely wary, because as time goes by, the probability of AREN being knocked down from its unreasonably high perch just keeps growing and growing.
This last jump left AREN with a ridiculous market cap of $116 MILLION. It is more than clear that such a high evaluation is unfounded. Investors should really keep that fact in mind and be vary wary at all tiems.