Tungsten Corp (OTCBB: TUNG) pump and dump

Yesterday during the trading day I saw someone in the TimAlerts chat mention they had come across the online landing page promoting Tungsten Corp (OTCBB: TUNG); a link to that website had also been posted on iHub a few days ago. The budget on the website was initially listed as $900,000 but has since been increased. The website is http://tungstennow.com/

 

Disclosed budget: $2,250,000 [Edit 2013-5-6]: The budget in the disclaimer has been decreased again to $900,000 from $2,250,000
Promoter: Eric Dickson’s Breakaway Stocks and List Data Solution

Paying party: Westway International, LLC

Shares outstanding: 65,000,000
Previous closing price: $1.03
Market capitalization: $67 million

tung_screenshot

 

Excerpt from disclaimer:

Tungsten Corp, (TUNG), the company featured in this issue, appears as paid advertising byWestway International, LLC to provide public awareness for TUNG. Breakaway Stocks and List Data Solution (LDS) have used outside research andwriters using public information to create the advertisement coming fromBreakaway Stocks about TUNG.

LDS hasmanaged a total production budget of up to $2,250,000 for advertising efforts andwill retain any amounts over and above the cost of production, copywriting services,mailing and other distribution expenses, as a fee for its services. Breakaway Stocks is paid $5,000 as an editorial fee fromLDS and also expects to receive newsubscriber revenue as a result of this advertising effort.

Full disclaimer:

IMPORTANTNOTICE AND DISCLAIMER: This advertising issue of Breakaway Stocks does not purport to provide an analysis of any company’s financial position, operations or prospects and this is not to be construed as a recommendation by Breakaway Stocks or an offer or solicitation to buy or sell any security. Tungsten Corp, (TUNG), the company featured in this issue, appears as paid advertising byWestway International, LLC to provide public awareness for TUNG. Breakaway Stocks and List Data Solution (LDS) have used outside research andwriters using public information to create the advertisement coming fromBreakaway Stocks about TUNG. Although the information contained in this advertisement is believed to be reliable, Breakaway Stocks and LDSmakes nowarranties as to the accuracy of any of the content herein and accepts no liability for howreadersmay choose to utilize the content.Readers should performtheir own due-diligence, including consultingwith a licensed, qualified investment professional or analyst. Further, readers are strongly urged to independently verify all statementsmade in this advertisement and performextensive due diligence on this or any other advertised company. Breakaway Stocks is not offering securities for sale. An offer to buy or sell can bemade onlywith accompanying disclosure documents and only in the states and provinces forwhich they are approved.Many states have established rules requiring the approval of a security by a state security administrator. Checkwith http://www.nasaa.org or call your state security administrator to determinewhether a particular security is licensed for sale in your state. Many companies have information filedwith state securities regulators andmanywill supply investorswith additional information on request. LDS hasmanaged a total production budget of up to $2,250,000 for advertising efforts andwill retain any amounts over and above the cost of production, copywriting services,mailing and other distribution expenses, as a fee for its services. Breakaway Stocks is paid $5,000 as an editorial fee fromLDS and also expects to receive newsubscriber revenue as a result of this advertising effort. *More information can be received fromTUNG’s investor relations firm. Further, specific financial information, filings and disclosures aswell as general investor information about publicly traded companies like TUNG, advice to investors and other investor resources are available at the Securities and Exchange Commissionwebsitewww.sec.gov andwww.nasd.com. Any investment should bemade only after consultingwith a qualified investment advisor and after reviewing the publicly available financial statements of and other information about the company and verifying that the investment is appropriate and suitable. Investing in securities is highly speculative and carries a great deal of risk especially as to newcompanieswith limited operations and no history of earnings. The information contained herein contains forward-looking Informationwithin themeaning of section 27a of the Securities Act of 1993, as amended, and section 21e of the Securities Exchange Act of 1934, as amended, including statements regarding expected growth of the featured company. In accordancewith the safe harbor provisions of the Private Securities LitigationReformAct, TUNGnotes that statements contained herein that look forward in time,which include everything other than historical information, involve risks and uncertainties thatmay affect the Company’s actual results of operations. Factors that could cause actual results to differ include the size and growth of themarket, the Company’s ability to fund its capital requirements in the near termand in the long term; pricing pressures, technology issues etc.

PDF copy of TUNG pump page.

[Edit 2013-5-13 3:30pm] Below are two photos taken of a hard mailer received by a TimAlerts subscriber this afternoon. While it is possible that he is a promoter and that no such mailers were sent, the images are not photoshopped (the EXIF data indicated the photos were taken by an iPhone 4s 12 minutes prior to me receiving them.

tung1b tung1a

Disclaimer: [Edit 2013-5-3 3:30pm: I am long 3,000 TUNG from $1.05. I may sell these shares at any time] I have no position in any stock mentioned above and no relationship with any parties mentioned above. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

6 thoughts on “Tungsten Corp (OTCBB: TUNG) pump and dump”

  1. PLEASE EVERYONE LET THIS BE HEARD LOUD AND CLEAR. THIS IS YOUR CLASSIC PUMP AND DUMP SCHEME!!!! THEY ARE EITHER SHORT THE STOCK NOW AS YOU ARE BUYING OR ALREADY BOUGHT A BOAT LOAD A LONG WHILE BACK AND AS SOON AS YOU BUY…THEY ARE THE SELLERS OF WHATEVER STOCK TIP THEY GAVE YOU. THEY MAY DO IT IN VARIOUS WAYS BUT PLEASE DON’T FALL FOR THIS SCAM!!!!

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