Thursday, March 29, 2012; 7:31 a.m.
Location: JEFF MIRKIN, 955 Massachusetts Ave, Cambridge, MA
Contact: JEFF MIRKIN; 617-349-9874
Recently Puda Coal a company that owns mines in Shanxi Province, China, and traded at the NYSE Amex stock exchange in New York, faced action for fraud after it was found that two former executives of the company stole and sold the assets of the company shortly before the company raised over $100 million from investors in the United States.
The company attempted to cover the crime in the most audacious manner by releasing details of a fake takeover along with a forged letter from a Chinese state-owned entity.
Various investment advisors and leading penny stock promoters promoted the shares of Puda Coal despite the fact that the details pertaining to the theft were available for several months in Chinese media. Unfortunately no one bothered to research the company and promotional material put out by the company were taken at face value.
The research team at Damngoodpennypicks.com point out that any mildly competent student of finance would have spotted the fraud within hours of starting the research. So why did all the officials and promoters fail to spot it? Obviously, investors were given a raw deal which is why independent researchers such as Damngoodpennypicks.com play a vital role in ensuring that every penny stock you invest in is well researched and that there are no hidden worms in the woodwork. Of course, the penny stocks we recommend could still fail to make the mark but it would be due to market forces and not because the company attempted to commit a fraud or the stock promoters failed in their duty.
ROI on Penny Stocks
While it is true that penny stocks have the greatest room for appreciation (and therefore potential to book profits), it is equally true that same rules that apply to non-penny stocks apply to Top Penny Stocks as well. So if you are looking to make a fortune overnight, then you would in all probability be disappointed.
Yes, there are a lot of websites that claim you can make millions in Penny stocks overnight. No doubt the opportunities might sometimes present themselves but overall, investment in penny stocks or OTCBB as with all other types of stocks, require time and patience.
Damngoodpennypicks.com puts out a ‘Penny Stocks to Buy’ list. If you invest in the penny stocks selected by the research team at Damngoodpennypicks.com, overtime you will make profits in most of the stocks we’ve recommended. In most cases it will happen between six weeks to eighteen months because the penny stocks we recommend are based on events that are likely to happen within a maximum span of 18 months. So patience is recommended.
Damngoodpennypicks.com invites the investing public to subscribe to the Damngoodpennypicks.com Top Penny Stocks. As an inaugural offer, the email subscription will be provided FREE of charge but only till June 15, 2012. Thereafter subscribers wishing to continue receiving details on Awesome penny stocks will be charged a small fee of $49.95 per month.