{"id":756,"date":"2013-01-29T06:29:00","date_gmt":"2013-01-29T06:29:00","guid":{"rendered":"\/?p=756"},"modified":"2013-03-25T20:14:31","modified_gmt":"2013-03-25T20:14:31","slug":"pumpers-still-trying-to-revive-chancery-resources-inc-pinkccry","status":"publish","type":"post","link":"\/articles\/pumpers-still-trying-to-revive-chancery-resources-inc-pinkccry\/","title":{"rendered":"Pumpers Still Trying to Revive Chancery Resources, Inc. (PINK:CCRY)"},"content":{"rendered":"

\"7CCRY_chart.png\"Yesterday a slew of promoters touted the stock of Chancery Resources, Inc. (PINK:CCRY<\/a>), both before and after market hours. The promotions helped the stock close up 71% and stop at $0.0036 at the bell. <\/p>\n

VIP Penny Stocks, the party best compensated among the pumpers, received $30 thousand to tout CCRY<\/a> stock. The company has been continuously promoted by email through January. In late November CCRY<\/a> closed two reverse merger deals with two corporations – AirTrona International, Inc. and 7319291 Canada, Inc., based respectively in Florida and Ontario. The focus of the merger seems to have been AirTrona, as CCRY<\/a>‘s current website is that of AirTrona and their business description is also AirTrona’s line of work – ozone generators with various applications.<\/p>\n

In the process of the merger, CCRY<\/a> issued 150 million shares to each of the two businesses, for a total of 300 million shares, issued seemingly arbitrarily, without using “any standard valuation formula or any other standard measure of value”, as the report states. In closing the merger CCRY<\/a> also effected a change in control, replacing its management and board with two people involved in the business of AirTrona. After the merger the two gentlemen were beneficial owners of 83% of CCRY<\/a> stock.<\/p>\n

The yearly report of CCRY<\/a> incorporates the merger agreements and the financial information contained in it incorporates historical information associated with the merger. The financial numbers are as follows:<\/p>\n