GBEN Update: No Medusa Space’s MyCroft Fuel Cell Tech

For all the traders that had Global Resource Energy Inc. (GBEN) on their list of penny stocks to watch for an Awesome Penny Stocks alert, be advised. We just received word from Rich Glover at Medusa Space that Atrius Holdings, LLC and Global Resource Energy failed to close contractually with Medusa Space for Mycroft Technology. The contract termination and announcement likely has just killed any chances of GBEN stock having any short-term run.

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About GBEN Stock

On April 25, 2011, Harry Lappa (NSRS) resigned as President and CEO of Global Resource Energy on the same day that Douglas Roe was appointed President and CEO. Roe was issued 90 million shares (pre-reverse-split) of GBEN stock.

Global Resource Energy Inc. had a number of press releases discussing their ‘acquisition’ of the technology and plans for commercialization. Rich Glover, President of Medusa Space wanted to make sure, since Global Resource Energy is publicly traded, that the previous press releases should have been more accurate and forthcoming. Despite numerous attempts to extend and attempt to close the deal with GBEN, Medusa never was able to secure their contractual obligations.

To view the full statement regarding GBEN and Medusa, click here.

Bottom Line: No MyCroft Fuel Cell Technology basically eliminates GBEN from being a possible penny stock pick for the APS group for any promotional runs. Keep GBEN on the radar since they are going to have to do something with those 250,000,000 authorized shares one of these days.

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