There is some suspicious trading activity on Element 21 Golf Co. (AREM), aka American Rare Earths and Materials Corp., as the penny stock spiked for no reason. The 5 Day average for the shares is 0.0102 with average volume of 9,743. In what appears to be a pre-promo move, the shares were dumped onto the market around lunch time, hitting as high as 0.125.
At present, 5,677,981 shares have traded since, up 252.38%, where AREM stock sits currently at 0.037 and needs to be on your watchlist immediately.
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AREM Stock Chart
Authorized Shares: 300,000,000
Shares Outstanding: 33,896,152 a/o March 31, 2012
30 Day Percent Change: -47.50%
30 Day Moving Average: 0.0133
30 Day Average Volume: 14,623
With declining revenues, $1,918,065 for the nine months ended March 31, 2012 compared to $3,428,047 for the same period in 2011, it’s peculiar why the shares began trading so heavily today. Before today, AREM stock had not traded more than 400K shares in a session except one time this year. What we did find though is that, during the nine months ended March 31, 2012, the Company issued 5,865,703 shares of its common stock to consultants for services rendered by them for an aggregate fair value of $487,928, 0.083 per share.
About AREM Stock
American Rare Earths and Materials, Corp. and subsidiaries is a developer of applications of high tech materials used in the sports industry including advanced Scandium Alloy golf products, bio-fiber fishing equipment and Zeroloft Aerogel insulation for sports apparel and footwear. New materials applications developed by AREM are incorporated by manufacturers and original equipment manufacturers into their product lines including the Company’s own line of Scandium Sc TM golf and Carrot Stix TM fishing equipment.
The Company has developed proprietary Scandium Alloys, bio-fiber composites and Zeroloft insulation manufacturing paths and product engineering for various sports, apparel and footwear applications. They have secured international recognition by winning several top honors at shows, and recording wins for professional athletes using equipment manufactured by the Company or incorporating AREM materials.
Bottom Line: Get AREM stock on the list of penny stocks to watch immediately.
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