In the world of penny stocks, you're sure to find oodles of great, unknown companies to invest in. But there are also penny stock scams designed to bilk hard-earned cash from investors. And usually you'll know its hit you after you've watched your investment evaporate into thin air!
We know what to look for, and tell you who's out there pumping stocks using paid promoters.
It's our job to expose penny stock pump and dump scams…
And we take real pleasure in putting the smackdown on the latest penny stock pump and dump scams.
As you read, you'll see the big red flags we've come across on these companies. And with all the great penny stocks out there… there's no reason to put a single dime into any of these companies!
This week, we're exposing a pump and dump scams on: Bravo Enterprises (OTC:OGNG)
Water, water everywhere, but not a drop to drink. Apparently Bravo thought it a good idea to get into the "atmospheric water harvesting". OGNG signed an exclusive license agreement with Water For The World Manufacturing Inc.
Now if it were that simple (as the pumpers want you to believe), we wouldn't be talking about this penny stock.
So take a look at what I found…
Red Flag #1: Paid PUMP!
Damn Good Penny Picks is just one of the pumpers getting paid to promote this stock. In fact, they were paid $25,000…
Here's the disclaimer for you to check out-
"We have been compensated twentyfive thousand dollars for the dissemination of this report by an unaffiliated third party."
That's $25,000 if you can't read word math… a favorite for pumpers to hide how much they've been paid!
Red Flag #2: Recycled Ticker Symbol From A Failed Companies
Not surprising, Bravo's ticker symbol comes from a previously failed company. Just look at the ticker symbol… OGNG has nothing to do with the name Bravo!
But it does have to do with Organa Gardens International….
That's the ticker symbol for the previous company- and once failed… Bravo stepped in and took over the SEC registered symbol.
This ticker symbol is like a bad game of musical chair. Check out this history!
- Bravo Enterprises (current)
- Organa Gardens
- Shotgun Energy
- Avalon Energy
- Avalon Gold Corporation
- Iceburg Brands
- Precise Life Sciences
- Asdar Group
- Venture Investments Inc. (Nevada 1983)
Boy… that's some kind of a mixed up mess! And something scary for potential investors need to be weary of. Remember- there's a lot of accumulated debt with a stock like this!
That brings us to my next point…
Red Flat #3: Terrible Financial Data
Bravo's sitting on a whopping $25.5 million of incurred losses since inception! You heard that right!
The current company isn't helping matters. Here's the dirt found in OGNG's latest financial statement-
- $345,854 9 month loss
- $282,842 operation loss for the first 9 months of 2013
- A decrease of $85,480 cash from 2012
But the final note you should pay attention to is the company admits the "need to raise capital in the next 12 months in order to continue as a going concern"…
Meaning they'll be out of business if investors don't pony up more cash! All I know is, that better not be you my good friend- or you'll be kissing it goodbye.
The Wrap Up:
Too many investors get sucked into these nightmare penny stocks scams. They fall for the overly optimistic projections the paid promoters are selling. In the search of easy money, investors lose sight of what a real return should be… and end up holding the bag.
When investing in pumped penny stocks, it's the ultimate case of "let the buyer beware!"