Yesterday during the trading day I saw a subscriber of Tom McCarthy’s Prepromotion Stocks service alert in chat that he had received a hard mailer from Tobin Smith promoting Brazil Minerals (OTCBB: BMIX).
Wife just texted me..got hard mailer for BMIX from NBT Equities…Tobin Smith
Posted May 15, 3:00 PM
I bought 7,500 shares at $0.724 and I still hold those shares (I will sell them soon, possibly as soon as tomorrow’s open). After the market close a TimAlerts subscriber reported that he had also received the mailer. I tweeted about that and a few minutes after I tweeted, Peter Pan (a popular penny stock trader on Twitter that I do not follow) tweeted that he had received the mailer and he uploaded a picture:
As of the time I post this I have not seen anyone post a picture of the disclaimer, although multiple people have said that the budget is disclosed as $1.6m (of course all promotion budgets should be taken with a few kilos of salt).
Disclosed budget: $1,600,000
Promoter: NBT Equities Research / Tobin Smith
Paying party: ???
Shares outstanding: 69,963,463
Previous closing price: $0.87
Market capitalization: $60 million
Interestingly, Tobin Smith first promoted BMIX back on May 6th via email and on his website at http://www.nbtequitiesresearch.com/sites/default/files/uploads/InitiatingCoverageBrazilMinerals1.pdf but the stock did not get much volume until yesterday.
NBT Equities / Tobin Smith Disclaimer excerpt:
NBT Equities Research has received $40,000 compensation from LB Ventures, a third party shareholder for coverage.