Whisper From Wall Street Give P.M.& E Inc (OTCMKTS:PMEA) Another Go

It’s been a little over a month since we last wrote about P.M.& E Inc (OTCMKTS:PMEA) and since then, they have lost around 56% of their value. The reason for our previous article was primarily the promotional effort that was running for them and there are a couple of factors that made the crash that ensued inevitable.

The first thing was the ticker’s performance under the pressure of promotions. PMEA have been in the pumpers sights a couple of times now and we have outlined the the pumping campaigns that we managed to intercept during the last year or so. The first, and the biggest one, took place on November 12, 2012 and as you can see from the chart, the ticker gained more than 200% in a single trading session.

The next one was on March 6 and after quite a lot of hype and excitement created by the newsletters, they did a modest run only to crash hard days after that. Then came the one from March 11 that we wrote about and it’s fair to say that since then it’s all been downhill.

Now they are the target of yet another promotion and the people who are initiating it are the people who stand behind Whisper From Wall Street – a pumper that we’re all too familiar with. You can have a look through their track record and just to give you an example of how badly some of their pumps end up, we have included Enviro-Serv Inc (OTCMKTS:EVSV)’s (f/k/a Transfer Technology International Corp) chart from the last month. Whisper From Wall Street’s pump on them took place around April 8 and it’s pretty clear what it has done has gone – 87% of the value wiped out since then.

Still, thing might just happen to be different for PMEA this time, right? Well, we’re not too sure about that. The second reason for the downfall of PMEA, we reckon, is the lack of any evidence of them being a solid company with solid operations. Sure, they say that they are developing the solar panels and they also said in February that they are carrying out negotiations with a company that will distribute their products in Russia, but we haven’t heard from them since and we can’t really be sure if anything will come out of this.

And it really isn’t worth the effort reading through their latest financial statement since, it could give you very little in terms of information. We can see that at the end of last year PMEA had:

• cash: $2 thousand
• current assets: $492 thousand ($490 thousand listed as “other assets”)
• no current liabilities
• no revenue since inception
• yearly net loss: $8 thousand

You might think that it’s good to see that they have no liabilities that they will have to take care of in the next twelve months, and you might also be impressed by the relatively small net loss but yous still have to wonder: “Are they really trying to achieve something?”. We reckon that if they had been making an effort, their losses would have been much more substantial.

Truth be told, we can’t see them closing the distribution agreement with only $2 thousand in the bank, either and this, along with the constant attention from the promoters could push the stock further down, which is why, you should be extremely careful when making your decision on PMEA.