Swingplane Ventures, Inc. (OTC:SWVI) Running Out of Time

After an amazing Tuesday session, Swingplane Ventures, Inc. (OTC:SWVI) managed a moderate 2.91% gain yesterday and closed at $0.616 on approximately 25.3 million shares.

By now, everyone should be aware that SWVI is an Awesome Penny Stocks (APS) pump job. They rarely last more than a month, as we have seen from World Moto, Inc. (OTC:FARE) and TagLikeMe Corp (PINK:TAGG).

With SWVI, there is another clock running too. The whole pump is based on the touted potential of the Algarrobo property in Chile. A company by the name of Mid Americas Corp. supposedly has the rights to acquire 75% of the mining concessions.

Initially, SWVI was supposed to be assigned the rights, but later the agreement was restructured so SWVI would acquire the whole company in a reverse merger. That was supposed to happen on or before Jan. 31.

The date came and went, and SWVI changed the expected closure date to Feb. 15 (tomorrow). The fact that the deal hasn’t been closed, didn’t get in the way of SWVI issuing a number of press releases about exploration, history, workings and even sales of copper from the property.

Even if the acquisition is closed, SWVI will have to pay millions of dollars and invest tens of millions of dollars for the option to stay in force. Money, which the company doesn’t have according to the most recent 10-Q.

Still, if the people behind the pump don’t start dumping, SWVI could climb higher today and tomorrow, but if it is to survive into next week, SWVI will need to provide some information about the Mid Americas deal.