What to do with a penny stock that had total assets of $134 as per their last Q filing from two weeks ago? Day trade it? That’s about the best you can hope to do Tuesday on the waste-to-energy management Company, Pioneer Exploration Inc. (OTC: PIEX). After issuing 38.5 million shares to acuire IBA Green Inc. more than one year ago, PIEX stock has begun to see some activity, none of which could have possibly been front loaded in advance of today’s trading session. Is it headed for a mountain peak again or further into the coal ashes?
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PIEX Stock Chart
Market Cap: 5.52M
Last: 0.111 ▼ -0.019 (-14.62%)
Issued and Outstanding: 49,764,500
14-Day Rel Strength: 34.59%
14-Day Stochastic: 6.88%
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Coal, an energy product as popular today as the dewey decimal system is for search queries. This is where IBA Green, a wholly owned subsidiary of Pioneer Exploration, is going to make their money to add to the $134 cash they had as of November 30, 2012 after they announced being asked to further test Incinerator bottom ash from previous processed samples. Is that like cleaning out the stem so you have something to smoke?
The Company business model is focused around Coal ash, the by-product of burning coal, which is weighed down with toxic heavy metals such as arsenic, cadmium, hexavalent chromium, lead and mercury – all things kids used to have as their sand box fill in the 60’s. Even though reports claim that billions of tons of this toxic waste are stored in unlined ponds, landfills and mines in almost every state, does it mean squat for those looking to buy PIEX stock for anything other than a 10 minute flip?
One main benefit anyone looking into Pioneer Exploration for a trade is the share structure. 38.5 million of the 49.76 million shares outstanding were issued to IBA Green Inc. shareholders when they acquired the Company in October, 2011. Up until mid-January, shares of PIEX stock neither saw volume orr prices less than 0.11 at any time in the last 6 months plus.
Dollar for dollar, pound for pound, the price it cost to file the most recent 10-Q for the Company far outweighs the total assets of the Company by approximately 10,000 times. Based on the fact that the tribe is heading out on PIEX stock today, use the opportunity to grab enough gains to be able to buy a couple of drive-thru lunches for the remainder of the week if you are willing to dive into the toxic ashes for a buck.
About PIEX Stock
Pioneer Exploration Inc. is a holding company focused solely on managing IBA Green Inc.’s business, the development and utilization of technology designed to be used in the treatment and conversion of incinerated bottom ash. Click here to view the SEC filings for PIEX.
Last 5 Trading Sessions:
Bottom Line: Today is National Pancake Day and, ironically, PIEX is one of the actively one-and-done promoted penny stocks to watch today at the open. Based on the last run PIEX stock had two weeks ago, expect to see about half that amount with similar dollar volume before a bag of ashy pancakes is the eventual result of it all.
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