On Monday night PacWest Equities (Pinksheets: PWEID) released a press release touting the great sales gains made by their PurGro Electronics subsidiary. The company continues to show a complete and utter disregard for investors by publishing only the most positive information and failing to give out any other information. The press release states in part:
3rd Quarter Sales for its wholly owned subsidiary, PurGro Electronics, showed a 430% increase in sales over 3rd quarter results for 2011, following the consistent sales growth trends set in the previous two quarters.
What were the sales? What were the prior months’ sales? How many shares were issued to purchase PurGro Electronics LLC? We have no clue — yet still the stock goes up. At a recent price of $0.68 that gives the company a $1.3 billion market cap (using my estimate of 500,000,000 post-split shares issued to pay for PurGro).
The stock promotion of PacWest Equities has grown larger — I received an email this morning from “The Penny Stock Pillager,” which has published pump mailers for past pump and dumps, disclosing $300,000 in compensation to promote PacWest Equities. See the disclaimer online here or below:
Read my prior articles on PacWest Equities:
Is PacWest Equities (Pinksheets: PWEID) a bona fide company? Or is it being run for the purpose of selling shares?
Coverage initiated on PacWest Equities (OTCBB: PWEI) — Strong sell, price target $0.06
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