NOT a Good Week for Pump and Dump-SNPK

We last discussed the scam, illusion and/or fantasy of SNPK http://wp.me/p1PgpH-E7 and our first mention of this impending disaster was on March 13, 2012:http://wp.me/p1PgpH-E7

Whoops! Not a Good Week for SNPK

Expect to see SNPK trading BELOW (sub 5 cents) at the levels of this other Pump and Dump, NSTR, within the next 12 months. Anybody want to take the other side of that bet?


This post was to keep you abreast as a warning and learning exercise–you don’t have to flush your hard-earned cash away to know that the above “company” exists solely to fleece “shareholders.” How many innocents are saying, “What the F! #$%& happened?” I am sure the SEC will start their “investigation” a year or two after the fleecing. Oh well….

You can learn more about how Pump and Dumps work here: http://www.pennystockresearch.com/snpk-rsrs-ewsi-pump-and-dump-alerts-april-27-2012/

This week we’re exposing these three popular Pump & Dumps: Sunpeaks Ventures (SNPK), Regency Resources (RSRS), and E-Waste Systems (EWSI).

On Pump and Dump Friday, we identify a few of the potentially “bogus” promotions going on in penny stocks today.

If you don’t know how these schemes work, be sure to check out the free report.

Without further ado, here are today’s “disasters waiting to happen”:

Sunpeaks Ventures (SNPK)

For the second week in a row, I have to say “I told you so!”

It’s like shooting fish in a barrel.  The pumpers telegraph their moves so plainly it’s scary!   Last week I told you to watch out for a dead cat bounce and then shares would take another dive…Well they have! 

Have a great weekend and thanks for the generous contributions on advising a reader about transitioning/learning to become a value investor.

Back again on Monday with case study analysis on Kiwi Airlines from Competition Demystified.

One response to “NOT a Good Week for Pump and Dump-SNPK

  1. Disappointingly, there’s very little in the way of UK bloggers posting about pump and dumps. Maybe there’s a little niche in there for me. I think that it might be easier than it looks. “ADVFN” is a very popular board in the UK, and it is rife with pumpers and dumpers. So, all one has to do let them do the hard work of identifying all the crud. I’m discovering that there are telltale signs.

    One company I’m following at the moment is GNG (Geong International) – company that operates in China. One poster apparently sees no problem with the recent change of auditors. I just had to love this little gem: “The new Auditors may take a harder view on the recoverability of Accrued revenue/Debtors. Even if they were to write these down by 30-40% That still leaves net assets of between 28p and 33p, again underpinned by 14p of it being in cash. And you can buy in at 9p!!!! I can only see upside”

    This company has an exceptionally long number of debtor days: it amounts to over 18 months. And this guy is arguing that a 30-45% writedown in receivables is a good thing. Yeah, that’ll really help the share price. Not. No mention was made of the obvious issue that a writedown on such a massive scale means that the revenues were effectively bogus in the first place. The company has issued a profits warning recently, and is down 40% YTD. It’s down 90% over 5 years. Nasty.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.