PUMPs & dumpS
Red Flagging DANGERS In The Penny Market
July 12, 2011
We had to laugh. Last night we emailed our advisory on Greenfield Farms Food, Inc. (GRAS) and pointed out how strange it was that the company's attorney was also identified as its investor relations person. This was evidenced in yesterday's GRAS press release. Not three hours after we sent out the email, GRAS issued another press release, this time identifying company president, Larry Moore as the investor relations point man. We trust that Mr. Moore will attend to the other deficiencies we pointed out just as quickly.
Speaking of being right, we note with some satisfaction that Adama Technologies (ADAC) backed off its promised 6 cent dividend just like we predicted in our June 3 advisory. Company president, Aviram Malik, is giving the public some song and dance about the failure of the sale of the asset that the company held for all of six weeks and was suddenly supposed to be worth $15 million. Now this supposed clean tech company is claiming to be going into the mining business in Africa. We'll just call Mr. Malik a liar (although we'd like to call him something else) and move on.
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