{"id":6727,"date":"2015-09-02T11:15:09","date_gmt":"2015-09-02T11:15:09","guid":{"rendered":"\/?p=6727"},"modified":"2015-09-02T11:39:23","modified_gmt":"2015-09-02T11:39:23","slug":"us-rare-earth-minerals-inc-otcmktsusmn-becomes-the-victim-of-a-costly-mistake","status":"publish","type":"post","link":"\/articles\/us-rare-earth-minerals-inc-otcmktsusmn-becomes-the-victim-of-a-costly-mistake\/","title":{"rendered":"US Rare Earth Minerals Inc (OTCMKTS:USMN) Becomes the Victim of a Costly Mistake"},"content":{"rendered":"\n

We’ve said numerous times how important due diligence is, especially in the world of penny stocks. We’ll now do some due diligence on US Rare Earth Minerals Inc (OTCMKTS:USMN<\/a>) and we’ll use it to emphasize its significance once again.<\/p>\n

USMN<\/a><\/strong> is an OTC listed company that originally started in 2008. Since then it has gone through two name changes and the same number of reverse splits. It has some mining activities in Nevada, but instead of being a typical mineral exploration company, USMN<\/a><\/strong> wants to use what it digs out of the ground in order to produce its EXCELERITE line of products which, apparently, could have a positive effect on the health of plants, animals, and human beings. Unfortunately for the management team, this business plan didn’t prove too popular with investors. In fact, USMN<\/a><\/strong> spent the last few months flying mostly under the radar. <\/p>\n

That said, the appalling volumes might not be due entirely to the peculiar business strategy. They might also be connected to the company’s financial situation. The figures in the latest 10-Q should give you an idea of what we’re talking about:<\/p>\n