{"id":1922,"date":"2013-07-11T14:13:27","date_gmt":"2013-07-11T14:13:27","guid":{"rendered":"\/?p=1922"},"modified":"2013-07-11T14:13:30","modified_gmt":"2013-07-11T14:13:30","slug":"far-east-energy-corp-otcmktsfeec-continues-to-drop","status":"publish","type":"post","link":"\/articles\/far-east-energy-corp-otcmktsfeec-continues-to-drop\/","title":{"rendered":"Far East Energy Corp (OTCMKTS:FEEC) Continues to Drop"},"content":{"rendered":"

\"25FEEC_chart.png\"Far East Energy Corp (OTCMKTS:FEEC<\/a>) is one of those rare companies in the OTC Markets that are in a decent financial state and has actual operations. This, however, didn’t stop their stock from sliding down the charts since the last time we wrote about them. <\/p>\n

That last time was on June 19 and we were putting the question of whether they were going to make up for the lost 3.77% in price on June 18 on the table. It seems that their stock wasn’t able to do so, because since then FEEC<\/a>‘s stock has been gradually sliding down the charts registering only one session with a positive movement in which their stock went up 7% in price.<\/p>\n

The press release that triggered this upward movement on June 27, however, wasn’t enough for FEEC<\/a>‘s stock to gain momentum and it started continued going down slowly afterwards. The losses were little and there was even a day in which the price didn’t move, but the last 2 trade sessions went worse as the company started loosing bigger percentages from its price.<\/p>\n

Even though they traded at below average volume on June 9 with 777 thousand traded shares the drop in price was more significant from the previous sessions as FEEC<\/a> lost 9.75% from its value, generating $143 thousand in trade value at the end of the day.<\/p>\n

\"314LOGO.png\"Yesterday went even worse, as more people were abondoning ship. They lost 15.79% with a total of 2.7 million shares that switched hands making the session’s trade value come at $441 thousand. The trade session started normally for FEEC<\/a>‘s stock as they were moving through the first hour hovering around their previous close of $0.1805.<\/p>\n

\"8CHBT_chart.png\"However, after 11:00 AM trading started getting more intense and their price plummeted to $0.151 at around 11:30. It continued to move in a similar way through the rest of the day, as trading was at a minimum. This is probably the reason why their price didn’t go even lower and they managed to close the session with $0.152 per share.<\/p>\n

FEEC<\/a>‘s operations are located in China, however, unlike China-Biotics Inc. (OTCMKTS:CHBT<\/a>) we haven’t found any information for false filings with the SEC, a thing we talked about in our latest article about CHBT<\/a>, exposing the discrepancies in their filings from 2008 with the SEC and the SAIC (State Administration for Industry and Commerce). Below is a quick recap of the numbers of prime interest from FEEC<\/a>‘s report for this years Q1.<\/p>\n

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