I have written a number of times about how UK websites you are meant to trust like MoneyAM and UK-Analyst (and now Digital Look has also trundled along the walk of shame) have been accepting money to send their loyal readers a promotion for US OTC stock Harmonic Energy (OTC:ASUV) stating “This is the one stock you must buy now” and suggesting that gains of 3,200% are possible. In very small print on these promotions it is admitted that they are paid for by a shareholder who wants to sell shares. In other words this is a pump and dump operation. And in the latest SEC Filing of 14th December we discover that Harmonic has almost no cash, no revenues and is burning cash – it should be clean out of money within a couple of weeks. The auditors flag this as a going concern issue. Er…just a bit. At 95 cents today the company is valued at $59.9 million.
US Investors are happily dumping shares and guess which suckers are buying? Er… Yes Limeys it is you thanks to those mailings from websites you thought you trusted. Heck that is the special relationship in action, the yanks get to offload their shit on the Brits and we send them Piers Morgan in return. Unless you were one of the folks suckered this is almost funny.
That supposedly respectable UK websites take cash to pump out this crap is a total disgrace but the story of this mega stock promotion for a total nothing company gets funnier still as I am sent the latest release from Harmonic with blockbusting news
on ADVFN | Comments