If you have ever tried to contact me, then you probably realized that my contact form isn’t exactly the most friendly — I specifically say that I will ignore most people who contact me. Also, by using the contact form, you grant me “permission to reprint your question and your name on my blog.” (Bold in original). Jack Gregory is the first person whose message to me was worth reprinting. In his message to me yesterday he said:
PRHL is a rapidly growing company in the energy saving business. I would like to explore the opportunity to have you promote this Company. Please send me the terms of engaging you for this purpose. The storyline is hard to believe but this is a Company which has neglected its PR and IR.
This is the first time that I have ever been offered to payment to promote a stock. Oddly enough, most people quickly realize that I am a cynic and short seller and I have no interest in selling out. I thought I would have a little fun so I replied:
Thank you for your offer. I am pleased to offer my stock promotion services for the price of $1,000,000,000 (US). Please confirm your interest and I will then provide you with my bank account details so you can wire me the money. I will the [sic] promote PRHL as the greatest thing since flush toilets (way more important than sliced bread).
Needless to say, Jack did not agree to my compensation and I continue to not be a stock promoter. A quick search of the internet let me know that Jack is the former CEO of PRHL, having been replaced at the very beginning of this year. As of 2010 he and his wife owned over 50% of the shares of the company. Following what appears to be a reverse merger that precipitated his departure, Dr. Gregory retained ownership of 160,000 shares that were subject to a lock-up agreement with PRHL and could not be sold prior to June 15, 2012 (those became 800,000 shares after a February 5-for-1 stock split). Since June the stock has lost almost 90% of its value and I infer that Dr. Gregory must not have sold all his shares yet.
Of course it is quite possible that the person who contacted me wasn’t actually Gregory but was some other large shareholder who wants to unload stock. But the important fact is that PRHL is a shitty company that is getting promoted while insiders and/or large shareholders dump stock.
Prior to April the stock rarely traded so I believe it likely that the stock was promoted around that time. Also, it was promoted today by LevelStock.com, a bottom-tier promoter:
LevelStock.com has been compensated on 08-19-12 ten thousand dollars by a third party for two week advertisement for Premier Holding Corp.
By the way, PRHL has 48 million shares outstanding and a market cap of $6.7m. I consider it overvalued and believe it is worth under 1 cent per share.
Note to other stock promoters or those who pay for promotions: my reputation is worth a hell of a lot more than $10,000. Unless you have at least a few hundred million dollars to give me, I am not interested.