Why so? Here's so. Today your author was sent the pump on this link for AMPW.ob by kind reader 'KF' who added "Who buys this shit?". The answer, KF, is that the foolish and the market naive are the prey for people like John Myers and Johannes Petersen.
The basics: Click that link above and check it out for yourself but what you get is the utter scumbag John Myers pumping American Power (AMPW.ob) and talking about 5000% gains and all sorts of ridiculous junk about how Rio Tinto is going to take them over and this and that and red letters and E!X!C!L!A!M!A!T!I!O!N!S! all over the shop and and and etc etc etc. Amongst the tosh and balderdash you also get the link to the American Power website that (almost goes without saying these days) greets you with an image of the Stars'n'Bars. So all the redflag boxes already being ticked off nicely. But then with about a minute's extra looking you get to see that:
1) The man behind AMPW.ob is none other than Johannes Petersen. The same name behind Gold American Mining (SILA.ob).2) It may be a bizarre coincidence, but AMPW.ob boasts of the same kind of financing deal-that-is-not-a-deal with the same European back as SILA.ob.3) And it may be another bizarre coincidence, but the last time we looked at the scumbag John Myers he was pumping a stock called Gold American Mining (SILA.ob).
So let's see how SILA.ob has got on since we ran our post entitled "Gold American Mining Is A Scam" on August 18th:
Hmmmm......not living up to the hype, is it? but back to AMPW.ob and if you check the SEC filings on this dog you'll see even more horridness, for example the latest annual report out Jan 13th 2011. There you'll note negative working cap around half the stock held by Petersen, the reality of its assets (nowhere near as pleasant for longs as Myers' views) all the usual checkboxes of these scams.
At its current $1.15 share price, this box of nothing has a market cap over $104m. A more obvious short is hard to find. DYODD.