As the predicted pull back on nearly all of the penny stocks in the marijuana sector occurred today, one newcomer, Alternative Fuels Americas, Inc. (AFAI), defied gravity thanks to a clever marketing campaign with iHub. The company which has been focused primarily on developing a biodiesel production facility, like Global Clean Energy Inc. (GCEI), suddenly announced today that it has formed a subsidiary, Marijuana Holdings Americas, Inc. to serve as the foundation for the company’s entry into the rapidly growing medical and recently legalized recreational marijuana markets. Talk about trying to ride the wave of over-bought hype, AFAI stock put a bunch of traders into a corner which hopefully leads to an escape hatch when Friday’s session opens.
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AFAI Stock Quote
Market Cap: 18.48M
Last: 0.27 ▲ +0.19 (+237.50%)
Dollar Volume: $2,010,551
Issued and Outstanding: 68,449,325
14-Day Rel Strength: 77.76%
1st Resistance Point: 0.393
1st Support Level: 0.134
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The story conjured up of “gearing up to tackle” the medicinal and recreational marijuana storefronts was put together in a poor manner from a credibility point by WallStreet Profits Search. The newly formed Marijuana Holdings Americas, Inc. was founded (by an alternative fuels focused company looking to develop biodiesel) to enter the rapidly growing medical and recently legalized recreational marijuana market. The goal: securing new medical and recreational marijuana licenses, potentially acquiring existing Cannabis production/sales operations and evaluating related business opportunities, subject to legal compliance and advice of counsel.
Adding insult to injury, few took the opportunity to read within the disclaimer the most important portion:
“scheduled to be compensated up to $150,000.00 and be reimbursed for all expenses associated with the AFAI market awareness campaign by a third party, non-affiliated shareholder(s) of AFAI under common control and ownership by the owner of WSPS during the term that this newsletter and subsequent updates, publications, emails, and advertisements may be in circulation.”
Then, the big red warning sign for getting in AFAI stock came immediately after that:
“The owner of WSPS also is disclosing that he is claiming beneficial ownership of approximately 2.5 million shares of AFAI stock through his ownership in/control of the third party, non-affiliate shareholder referenced above, and that some or all of these shares and/or shares owned by other present shareholders of WSPS may be sold at any time without notice (including during the term that the AFAI market awareness campaign may be in effect or any period thereafter).”
But, wait…. Why isn’t any of this news on the Alternative Fuels Americas website? Didn’t they just announce that they will be using feedstock from its plantation in Tempate, Costa Rica for testing and marketing the first phase of biodiesel production?
Oh, they are now a “a disruptive sectors company seeks to identify and enter early stage business opportunities that mark a significant change in the status quo from which to extract value for its shareholders.” Phew! It almost looked there like this AFAI stock pump was a total scam trying to simply take advantage of the “marijuana” hype that’s hit the non-revenue, little-to-no asset OTC tickers in the sector.
AFAI certainly would qualify for it since they had $166 in cash i the bank as of their last Q filing to go with $160,000 worth of Trees. (How the hell does a CPA sign off on a Q filing with “Trees” booked as an Asset?)
About AFAI Stock
Alternative Fuels Americas, Inc. is a development stage multi-feedstock seed-to-pump green energy company establishing “above ground” oil fields and exploring broader opportunities throughout the Americas.
Last 5 Trading Sessions:
It was expected today that the marijuana focused penny stocks wold see some kind of a pull back as they did. Defying the trend was AFAI stock thanks to the pop-up ad campaign through iHub which anyone who attempted to type in a ticker symbol without an ad-block app was subjected to. Friday is likely to be a gravity induced session for AFAI stock leaving alot of stoners with empty bags which were supposed to be green.
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