What do you do with 1.68 Billion shares? You cancel some of the outstanding so that there’s just 61.8 million and change your name to Patriot Minefinders Inc. (PROF). Even though everyone of your listed shareholders on your S-1 were all from Vancouver, BC, there is no reason to speculate that PROF stock is the pump and dump to be rushing out to purchase on the eve of the greatest ever moment in email delivery history, or is it?
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PROF Stock Chart
Close: 0.22, down -0.03 (-12.00%)
Average Trade Size: 5,900
Shares Authorized: 1,680,000,000
Shares Outstanding: 61,800,000 a/o June 19
A Gold company with no actual working model. We heard that story back in December and look what happened – from 0.07 to 1.72.
Patriot MineFinders claims that their main focus is on their La Buena property which they scored off a $25,000 loan from Skanderbeg Capital back in March. The northern Zacatecas, Mexico property was then, on May 17th, swapped fr a couple packs of gum and some old baseball cards under some very dim lighting which allowed for Skanderbeg to basically get 2,500,000 restricted shares out of the deal.
If you have an interest in it, the Property is situated approximately 4.3 miles south of the town of Melchor Ocampo where they make the best cactus tacos for all you vegetarians. If you miss the taco stand, the Property is roughly 24 miles NW of the town of Concepcion del Oro where they sell those big hats that have all the colored tassels on them, or 128 miles northeast of the state capital city of Zacatecas which is famous for people who get around with Zapatos; within the NE part of the Concepcion del Oro Mining District.
Just make sure to turn left in Albuquerque or else you’ll wind up in Montana ordering Rocky Mountain oysters.
About PROF Stock
Patriot Minefinders Inc. is an exploration stage company engaged in the acquisition and exploration of mineral properties with a view to exploiting any mineral deposits discovered. Formerly known as Atlantic Resources, Inc., the company changed its name in April and effected a 24 new for 1 old forward split increasing the authorized capital 70,000,000 to 1,680,000,000 shares and the issued and outstanding shares from 4,700,000 to 112,800,000.
On June 19, 2012, 72,000,000 shares were cancelled by the board of directors, John H. Schweitzer, that were held by a former director, officer and majority shareholder of the Company, Raffi Khorchidian. 3,000,000 shares were sold to Patriot Minefinders directors, Frederick J. Sveinson, Perparim Alikaj, Michael Hofer and Fred Tejada, at the price of $0.0014 per share.
Bottom Line: This is totally set up for a classic penny stock pump and dump. The players could all be front men but videos are already out on YouTube pumping PROF stock. It’s undoubtedly going to be a patriot missile which lands like a scud.
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