{"id":1440,"date":"2013-05-14T14:13:21","date_gmt":"2013-05-14T14:13:21","guid":{"rendered":"\/?p=1440"},"modified":"2013-05-14T14:13:31","modified_gmt":"2013-05-14T14:13:31","slug":"western-graphite-inc-otcbbwsgp-pump-crash-imminent","status":"publish","type":"post","link":"\/articles\/western-graphite-inc-otcbbwsgp-pump-crash-imminent\/","title":{"rendered":"Western Graphite, Inc. (OTCBB:WSGP) Pump Crash Imminent"},"content":{"rendered":"

\"6WSGP_chart.png\"Western Graphite, Inc. (OTCBB:WSGP<\/a>) can crash very soon, and destroy the investments of careless investors. The company should be filing its quarterly in the coming days, and things may get ugly. <\/p>\n

Since it started trading in April, WSGP<\/a> has gone up about 300%. Yesterday it closed up 7.39% at $1.89 on nearly 2 million shares. At this price the market cap of WSGP<\/a> is around $110 million.<\/p>\n

What’s wrong with that number is the fact, that so far, WSGP<\/a> hasn’t proven it has anything worth that much. Actually, the company’s filings show that WSGP<\/a> had $73 in cash and $3,937 in deposits as of Dec. 31, 2012. Since the company hasn’t announced any financing, we can assume those numbers are still correct or they are lower.<\/p>\n

As for the properties WSGP<\/a> has, there is no indication whether they are worth anything, except that their previous owners parted with them for shares of WSGP<\/a>. The quarterly report should shed some more light at the situation at WSGP<\/a>.<\/p>\n

Until then, traders and potential investors should consider the facts around the way WSGP<\/a> has been set up. It used to be a shell doing nothing for years. Around February 2007 the company sold 3 million shares to unnamed parties for $0.02 per share.<\/p>\n

Pretty much nothing happened until February this year when the company announced it would merge with a subsidiary to change its name and effect a forward 10 for 1 split. This way the unnamed parties mentioned above got their shares to 30 million, and those are freely tradable shares effectively acquired at $0.002 per share.<\/p>\n

Last but not least, the paid pumps, tout reports and the hype created by the company’s own press releases should give traders an idea of what WSGP<\/a> really is and where it’s going. If that wasn’t clear enough – it’s a pump job.<\/p>\n","protected":false},"excerpt":{"rendered":"

Western Graphite, Inc. (OTCBB:WSGP) can crash very soon, and destroy the investments of careless investors. The company should be filing its quarterly in the coming days, and things may get ugly. Since it started...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[629],"class_list":["post-1440","post","type-post","status-publish","format-standard","hentry","category-news","tag-wsgp"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/1440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=1440"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/1440\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=1440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=1440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=1440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}