It was a “foyous” occasion Wednesday for the 12 beneficial and 245 common stock shareholders of record as of September 30, 2012 when Alexander D. Powers addressed the world via a PR with clear instructions on where too look: “The text of the letter appears below.” Foy Johnston, Inc. (OTC: FOYJ), a Company Powers took over as President a year ago, needs some flow to cash-in on their initial exploration project in Cameroon, West Africa. Given that there are more freely tradeable shares of FOYJ stock than the total number of shares traded from the top 20 penny stocks on the OTC, it all looks like a great chance for shareholders to dig in for a wash trading session, similar to what Itonis Inc. (ITNS) provided on Wednesday.
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FOYJ Stock Chart
Market Cap: 172.38M
Last: 0.0014 ▲ 0.0004 (40.00%)
Volume: 9,118,495
Dollar Volume: $11,465
Open: 0.0013
High: 0.0015
Low: 0.001
Trades: 28
Authorized: 200,000,000,000
Issued and Outstanding: 123,127,145,000
Float: 5,539,200,000
14-Day Rel Strength: 66.12%
14-Day Stochastic: 90.00%
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5.54 Billion shares in the Float!
Add up the top 20 most traded, even the top 10 highest share volume traded, from the OTC on Wednesday and you can’t reach that level. Despite Powers’ claims that the Foy Johnston is focusing its efforts in area long known for its prolific mineralization, the are in Africa which includes Sierra Leone, Liberia, Nigeria, Ghana, Central African Republic, Chad and Mali, FOYJ looks like the awareness campaign is set up to stick a Johnston Foyously into bags for traders to look for teenies.
Regardless of there being no cash and an insane amount of shares to trade, Foy-Johston does report an asset, a portfolio of Gold and Diamond exploration tenements in key mineral regions of Cameroon and Central African Republic, valued at $23,970,600 on their books. The Company plans on somehow advancing a number of key strategic project strategic projects:
• Gold Project in Cameroon
• Diamond Project in the Central African Republic
• Exploration of other precious metals and gems in Cameroon
Blood Diamond was a convincing enough movie for me to see that no mining equipment is need down there which pretty well details why no mining equipment is, or ever will be, on the books of Foy Johnston.
About FOYJ Stock
Foy-Johnston, Inc. claims itself to be a mining explorer and producer committed to developing strategic mining exploration and project opportunities in Gold, Precious gems, Rare Earth Metals and Platinum Group Metals.
Click here to view the most recent financial filings on OTCMarkets for FOYJ.
Last 5 Trading Sessions:
| Date | Last | Change | % Change | Volume |
| 01/30/13 | 0.0014 | +0.0004 | +40.00% | 9,118,400 |
| 01/29/13 | 0.0010 | unch | unch | 11,544,000 |
| 01/28/13 | 0.0010 | unch | unch | 1,780,000 |
| 01/25/13 | 0.0010 | -0.0003 | -23.08% | 1,075,000 |
| 01/24/13 | 0.0013 | +0.0003 | +30.00% | 6,660,700 |
Bottom Line: Traders will undoubtedly flock to the penny stock alerts issued on FOYJ without doing much due diligence. Then again, many don’t seem to understand the relation between float and awareness. Similar to the “Gap It and Bag It” pattern ITNS stock provided on Tuesday, keep a close eye on FOYJ for one of those “AimHighProfits was right once again” moments at any time after the open today.
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