North Springs Resources Corp. (NSRS)

[novache]

From smallcap network:


Meanwhile, North Springs Resources (OTC: NSRS) is a mining company focused on the evaluation, acquisition, exploration, and development of mineral resource properties. On Tuesday, North Springs Resources fell 18.05% to $0.45 (NSRS has a 52 week trading range of $0.01 to $1.72 a share) for a market cap of $313 million. According to Google Finance, North Springs Resources is up 542.7% since the beginning of the year – not bad for a mining company still in the evaluation and acquisition phase. However and for this year, North Springs Resources has managed to get featured in just about every promotional stock alert and investment newsletter you can imagine as the last time I checked, there was at least a $600,000+ promotions budget to pump up the stock. Likewise and the last time I checked, North Springs Resources has produced no revenues; had net losses of $57k (most recent quarter), $25k, $35k and zero for the past four quarters; and no cash to cover $109k in current liabilities. Nevertheless, someone has at least $600,000+ to spend but for how long will a promotional budget even that BIG last for?