Propell Technologies $PROP pump and dump

I heard from a TimAlerts subscriber in the chat room yesterday evening that he had received a hard mailer promoting Propell Technologies (PROP). I have not independently verified any of the information provided. I will post more information when I find it. Due to the already high market cap and the low volume I doubt this pump will do very well. Hopefully the volume increases and the price spikes so that it becomes a worthwhile short (I hate short selling low-volume pumps).

 

Disclosed budget: $2,500,000

Promoter: FastMarket Products, Inc

Paying party: Baia Investment group Ltd

Shares outstanding:  134,432,871
Previous closing price: $0.92
Market capitalization: $123 million

Excerpt from disclaimer:

FastMarket Products, Inc has received or expects to receive and manage a total production budget of two million five hundred thousand dollars from Baia Investment group Ltd. for this online advertising effort and will retain any amounts over and above the cost of fifty thousand dollars as an editorial fee

[Edit 2013-6-25]: Thanks to Promotion Stock Secrets for uploading a scan of the PROP mailer. Below is a copy of one of the four pages. Considering the high market cap and ugly and short mailer I consider PROP a great short here.

prop

Disclaimer: 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.

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