When the week of July 13 began, a small number of penny stocks traders were secretly alerted to buy as much Puget Technologies Inc. (OTCQB: PUGE) shares as they could. Known as the group who took Dominovas Energy Corp. (DNRG) from a subbie to nearly a quarter and a dime combined, over 4,600% in profits, at the end of June, just the mere chance of seeing half that in gains from PUGE stock had anyone who got the sneak peek at today’s #TEAMBILLIONAIRE alert chomping at the bits for today to come.
With news out after the bell yesterday and the confirmation of the team pushing ahead with their plans, the dumpage which trapped all those who got in late or held out for huge gains has them PUKE ing all over their “Trading 101” handbooks: Always Book Your Gains!
So, before one goes throwing money at any alert, a sneak peek one or one that comes out the night before via a newsletter like ours, one does their due diligence to see WTF they are about to consider getting involved with. If you received the alert when PUGE stock was under 0.04 and saw “Even though My short term target for $PUGE is $.40, I can see an EPIC CULT run to $1.00+,” you’d have to be an absolute moron to not go and atleast check out the debt Puget Tech has on their books.
Congrats if you bought $puge at .10 you win the dumb ass award
— Patrick Bateman (@BatemanOfWallSt) July 16, 2015
When opening up the 10Q for the three months ended April 30, 2015, one immediately notices the $1,000,876 in notes payable and the lack of revenues before scrolling down further than page 4. Upon further discovery, $650,000 of that convertible debt is what’s left from a 2013 deal only because $125,000 was reduced during the period by way of 1) 2,094,318 shares were issued to convert $60,937 in debt ($50,000) plus accrued interest ($10,937) and 2) 4,297,091 shares were issued to convert $89,802 in debt ($75,000) plus accrued interest ($14,802). The quick and easy calculation shows the shares were converted at an average price of $0.0236 per share.
While the debt conversions that took place during the last reporting period don’t appear to be all that cheap, there is a considerable amount on the books with a list of toxic financiers that raise a red flag to a certain extent for those familiar with debt conversions. Although Asher Enterprises is not one of the groups listed, there isn’t much there to make an argument greater than any other OTC ticker when 1 out of how many hundred are able to finance themselves with existing cash flow?
A catalyst to helping PUGE shares surge at the opening bell this morning should have come from their news release last night of a newly revamped website for their “assistance” to help travel agencies and affinity groups achieve sustainable financial success. While you wouldn’t necessarily ask a homeless person help you to look for a larger home than you currently live in, let’s just say that the newly redesigned www.PugeTech.com looks pretty decent (for a dog and pony show).
$PUGE – If you strap a dead cat to a bazooka and fire it into the ground it’ll possibly bounce up. — TMcNasty (@TMcNasty) July 16, 2015
Unfortunately, even though the debt conversions aren’t all that bad and even though the news was better than some that look like a Bulgarian high school dropout wrote it, PUGE shares never stood a chance until the PUKE had made enough room for some to even think about eating lunch. After the midday mone tsurpassed, PUGE shares actually look like they might rebound off the bidwhacking 5’s that held it down for the better part of the late morning.
Although no crystal ball exists when it comes to pennyland, seeing PUGE shares rebound after this RSI correction provides some hope for those who bought and held late yesterday and those who got in early, already sold out, and looking to re-enter. When you think about how DNRG went from subbie to almost 0.34 in less than a week, rolling the dice with Monday entry points might be a gamble worth risking that vacation money on.
Then again, when you can change one letter of an OTC ticker to make it match something that comes out of a human body (FARE > FART, CRGP > CRAP, PUGE > PUKE), maybe the subliminal signs are there for a reason.
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