www.hotstocked.com/article/51632/...nc-otc-punl-pokes-its.html
Punchline Resources, Ltd. (OTC:PUNL) Pokes Its Head Out of Its Crater
by Todor Pichurov
Apr 24, 2013
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Stock scavengers had a feast yesterday as Punchline Resources, Ltd. (OTC:PUNL, PUNL message board) clawed 47% up the chart. Those who managed to grab shares over the previous couple of days rejoiced. Those who chose to believe stock promoters and bought on the April 9 pump are probably still weeping because even at its last close, PUNL is still over 90% down from the price pumpers alerted at.
The story of PUNL is a classical pump disaster, only the percentile swing and the sheer amounts of loss involved in this one happened to be particularly nasty. The stock was trading in modest volume before promoters compensated with $66 thousand molested it with their email alerts. On the day following the first pump mails for PUNL, the stock crashed and started a series of devastating drops that saw it tank a heart-wrenching 95% within the span of seven sessions.
This was not just a burn, it was full-blown stock armageddon that left PUNL puzzled, sitting in the middle of a smoking crater. A couple of promoters had the face to send a new email once PUNL had gone downhill and basically tell their subscribers "Ok, guys, this was a bit of a flop, but look at how well our other alerts have been performing!" Hilariously, one of those alerts happened to be PeopleString Corp. (PINK:PLPE) which had just closed the day 30% down when the promoter email came through.
While crashes like PUNL may be hilarious to watch from the sidelines, they serve to emphasize the dangerous nature of stock promotions, especially paid ones where someone shells out thousands of dollars to advertise some stock and hopeful entrants are greeted by a day-one crash that leaves them scrambling to contain their losses.
PUNL's press releases that sprung out of thin air about the time the pump started consist mostly of early exploration results and yet unproved potential, their last filing lists $26 thousand in cash and no revenues generated, and the company undertook the obligation to pay $1.7 million and incur another $4 million in expenses by 2016, against percentile interest in a mining claim. PUNL is also being run single-handedly by one-man show Mr. Ramzan Savji, who as of January 2013 served as president, CEO and CFO of Toron, Inc. (PINK:TRON), a cashless failure of a penny stock, that was finally buried by pumpers in May 2012 and is currently trading at $0.001.
In closing, traders are advised to do their own due diligence and never invest in a stock simply because they received a paid email advertisement for it that promised future greatness.
