Today people reported receiving hard mailers promoting Stratex Oil & Gas Holdings (Pinksheets: STTX). One Tim Sykes Challenge student was kind enough to photograph the front of the mailer and the disclaimer and send those to me.
Pump budget: $780,000
Stock Promoter: Linear Access Inc. & John Myers The Myers’ Letter
Paying party: Linear Access Inc.
Shares outstanding: 43,692,556
Previous closing price: $1.04
Current market cap: $45m
Excerpt from disclaimer:
JMTML has received a total amount of seven thousand five hundred dollars in cash compensation to assist in the writing of this advertisement
Linear Access Inc. paid seven hundred eighty thousand dollars to marketing vendors to pay for all the costs of creating and distributing this Advertisement [sic]
6 thoughts on “Stratex Oil & Gas Holdings (Pinksheets: STTX) pump and dump”
Thanks for the post Michael. Do you know any previous promotions by Linear Access Inc?
How long do these pumps usually take to make an impact? And what is a normal length for the pump to keep a stock high?
Mailer pumps like these vary greatly in length and impact. Some of them go up for one day before dropping, others go up for awhile. See the charts of AGIN and LOTE for a couple recent mailer pumps with different outcomes.
How do we get our money back after they obviously pumped the stock I lost thousands based on the material they sent me in the mail to pump the stock. ILL has this on them https://www.ilsos.gov/adminactionssearch/adminactionssearch?command=viewPDF&itemId=92%203%20ICM7%20PRODCMZ13%20SE_AA_MgtView59%2026%20A1001001A15H12B03239A7734918%20A15H12B03239A773491%2014%201051
I don’t think you can. The SEC never even sued the company. You could talk to Illinois securities regulators. But the statute of limitations has already run out so I don’t think you could even sue them yourself if you wanted to.