February 14, 2013 at 11:08 AM EST
Global Earth Energy Inc (PINK:GLER) and Inside Bulls Feeling Wealthy
No operations, no money, dilution of massive proportions... these are all words that come to mind when we think of Global Earth Energy Inc ( PINK:GLER ) and when we received the email from Insider Bulls today, we were left there wondering: "Why would they start pumping them once again?". Still we decided to check if GLER have actually done something since the last time their shares were touted. A few minutes into the research, we saw that nothing has changed. Right now some news are coming out stating that GLER have signed a letter of intent with a company that is supposed to buy some shares and inject some cash, but we have seen that many times. Last time they did it it was back in August 2011 and since then, nothing much has happened around GLER. Apart from the fact that millions more shares have been issued, of course. We opened the financial statement to see how much exactly did the shareholders suffer and we found out that, in January alone, around 130 million shares saw the light of day. We doubt that this sort of dilution brings queues of investors eager to buy a piece of GLER. [BANNER] In the press-release, they also point out that they have now changed their plan for the future development of the company and would now like to start leasing new oil and gas wells instead of buying them. As always we're not ready to take just anyone's word for it and we prefer to look through an official document. Luckily, GLER has provided us with a 10-Q covering the period that ended back in November, 2012. We will just summarize the figures for you and let you draw your conclusions: cash: $0 current assets: $0 current liabilities: $5.4 million no revenue since inception net loss since inception: $35 million accumulated deficit: $43 million When you read further down, you will notice that GLER is a company that really doesn't seem to care at all about its shareholders. Instead, despite the terrible performance and the financial abyss they dragged GLER into, the Board of Directors decided to award themselves with a few million shares each recently. We rarely come across companies that are in such a dreadful state. Normally, there is at least a grain of hope even for the ones that are being desperately pumped, but with GLER, we really can't see them getting back on their feet any time soon. We reckon, the current shareholders have now gone a bit impatient, and they will wait for a jump just so that they can get rid of their shares. The current pump might be just what they need. That doesn't stop Inside Bulls from touting them, though, which reminded us that they were also part of the promotional campaign on Vitamin Blue Inc ( OTC:VTMB ) who got hyped at the beginning of January, however, now a little over a month later, VTMB have sunk like the proverbial stone as evidenced by the chart on the right.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here