Research Driven Investor Prods Global Security Agency, Inc. (PINK:GSAG)
Yesterday another round of pump emails for Global Security Agency, Inc. (PINK:GSAG) was dispatched, after promoters kept quiet for nearly two months. The new promotion is spearheaded by Research Driven Investor, who expect to bag $55 thousand for a two-day pump.
Sadly, the pump email is full of borderline-nonsensical babble and not much in the way of underlining the company’s strengths. That may be because it’s really hard to find strengths with GSAG. The company has been promoted in the past and both latest promotions ended up crashing hard, despite the second one being backed up by a so-called ‘research report’ by Murphy Analytics, which was just another promotional material compensated with a modest $5 thousand.
Ignoring the pumps and looking at the company’s filings and financial situation, things are not getting any prettier. The latest report available is a 10-Q for the quarter ended September 2012 and it contains the following:
- $85 thousand in cash
- $626 thousand in current liabilities
- $23 thousand in revenue for Jan-Sep 2012
- $652 thousand in net loss for Jan-Sep 2012
The company is also shrinking in terms of employees, with employee salary expenses sliced two and a half times compared to the previous quarter and officer salary expenses down to $0. The company has also simmered down on the press release front, with no new announcements for a month. Promoters may have a very hard time lifting the price this time around, considering GSAG already logged a red day yesterday, despite spiking above $.02 intra-day on heavy volume.
Research Driven Investor, now pumping GSAG for $55 and disclosing previous compensation amounting to $75 thousand for an expired previous campaign, ran other pump jobs that performed poorly. On a weekend in mid-March RDI pumped Buyer Group International, Inc. (PINK:BYRG) for $40 thousand, suggesting the stock could triple in price. Sadly, BYRG started a sequence of drops immediately after the pump and never gave investors a chance to turn profit, with the stock currently about 80% down from the levels RDI alerted at.
Traders are advised to be extra careful when dealing with promoted stocks, especially ones that have crashed after previous paid pumps and are currently touted by promoters with a track record that is far from stellar.
