Don’t get stuck holding the bag with Sweetwater Resources, Inc. (SWTR) penny sock alert. Its not the first time erroneous alerts have been sent out and investors bit only to find out it was just a dump. SWTR had just 74.20 million shares of Common Stock outstanding on June 13, 2012. (see here) You all just got took for a $5.47 million APS fake out.
Don’t be an APS sucker. SWTR surely is not the new pump and dump. If it is, we will be very surprised, actually shocked and retire.
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SWTR Stock Chart Tuesday
SWTR Shares Outstanding: 74.20M
SWTR Shares owned by Alvin Snaper: 43.85M
Float: 30.35M
C’mon now traders. You’ve seen the structure that is used for these massive pump and dumps. Anything less than 400 million shares outstanding is not going to be something that APS would put their name to.
What Sweetwater Resources does have is a CEO, Alvin Snaper, that has designed half the things we use on an everyday basis. Snaper is responsible for inventing:
• IBM Selectric Type Ball,
• Tang drink crystals,
• The NASA Apollo Photo-Pack,
• The coating process for Gillette Razor Blades, and
• The electrostatic painting process and system for auto components assemblies for General Motors
It would be of no surprise if Sweetwater, through their acquisition of Innovative Sales, can develop, produce and market “cultured” diamonds for an affordable price. The cubic zirconia market went off-the-charts when it came to deciding between a real stone and a larger “diamond looking” stone for that special someone.
With the well known controversy of Sierra Leone and Leonardo DiCaprio’s portrayal as a diamond dealer in the movie “Blood Diamond”, maybe SWTR is worth holding onto and not throwing out the bags you bought today.
Click here to read all the SWTR SEC filings.
Bottom Line: When the next hot penny stock is official, you can be sure it will have more than 74.20 million shares outstanding. We expect it will be Georgetown Corp. (GTCP) but, like everyone else, will have to wait and see.
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