Swingplane Ventures, Inc. (OTC:SWVI) Drops Peter Messineo

Swingplane Ventures, Inc. (OTC:SWVI) finally filed yesterday, but it was not the form people were looking for. It was an 8-K about a change of auditors, not the promised Super 8-K.

SWVI managed a modest gain of 1.51% to a close at $0.3969. The volume of 8 million shares was also in the lower range, since the start of the Awesome Penny Stocks (APS) pump.

The 8-K revealed that on Feb. 1 SWVI had let go of its former auditor Peter Messineo and engaged Borgers & Cutler CPA’s PLLC. Mr. Messineo was one of the linking pieces between SWVI and previous pump jobs like Superior Venture Corp (OTC:SVEN).

SVEN was also an APS pump back in late December 2012. While it reached about $0.35 per share, SVEN was, and still is, the worst APS job, now sitting at $0.009.

The 8-K form is signed by Michel Voyer. If the acquisition transaction had been closed, there would have been a change in control. This raises further doubts about the idea that SWVI actually has the 75% interest in the Algarrobo property.

This doesn’t prevent the pumpers from saying the company has recently acquired the property, nor does it stop the price from going up. There is, however, a limit to how far SWVI can climb without any proof it can make a dime from operations.

Playing a pump job is tricky, especially when you don’t know when the dumping will start, and you really don’t want to be caught on the wrong side of this kind of play.