PSON is exploding!
Update: PSON has been trading in a steady range over the past year between a dime on the low end and $0.25 on the high end. After a recent test of resistance PSON looks like its once again drifting towards a dime to test support again.
Towards the middle of December PSON really took off on accelerated trading volume surpassing $0.75 resistance and making a recent high of $1.12. Currently trading at $1 investors are speculating the multi-million dollar stock promotion will push it higher. PSON is being promoted by Tobin Smith from NBT Group, Inc. with a documented production budget of $2.5M USD. NBT Group, Inc. has a history of crappy picks such as Barfresh Food Group, Inc (OTC: BRFH) which fizzled out at around $1.20.
Excerpt from NBT disclaimer: Beaumont Media LLC has received or expects to receive and manage a total production budget of two million five hundred thousand dollars from Belmont Group Ltd. for this online advertising effort and will retain any amounts over and above the cost of production, copywriting services, list rental, online advertising, mailing and other distribution expenses, as a fee for its services. Changewave, Inc (dba NBT Communications) is paid fifty thousand dollars as an editorial fee from Beaumont Media LLC.
Petrosonic Energy was initially incorporated on May 24, 2010 in Tirana, Albania. The two initial shareholders were Sonoro Energy Ltd (a Canadian publicly traded company in TSX- symbol; SNV) and Albnafta, Ltd, an Albanian private company. Trading under the name Bearing Mineral Explorations Inc. the company changed their name to Petrosonic Energy in May 2012 after an 11.25 for 1 forward split of the stock.
The first paid email alert came from Best Buy Stock Picks who describes PSON as their “new $40B pick” going on to say “ We are bringing a brand new clean multi-billion dollar pick to your urgent attention! This pick is yet to go viral as we believe that our ground floor early bird alert could deliver monster gains starting tomorrow”
A recent pr describes PSON as “Petrosonic Energy, Inc. is building a facility to provide a 1,000 barrel of oil per day processing for the upgrading of heavy oil. This plant will be the first commercialization of the company's Sonic Reactor to provide energy and cost efficient heavy oil processing. Once this application has been achieved the company plans to expand its capacity up to 5,000 barrels per day.”
Conclusion: Currently trading at a market valuation approaching $75 million PSON has little assets and no revenues to date. What the Company lacks for in fundamentals is made up for by a massive multi-million dollar stock promotion. Short term this may be a recipe for big gains, long term PSON cannot maintain anywhere near current market valuation and will drop significantly.
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Petrosonic Energy, Inc. was established to deliver innovative technologies to the energy sector. Our current primary focus is to provide technologies that upgrade heavy oil economically and in an environmental friendly manner. Our patented SonoprocessTM uses clean tech sonic energy to de-asphalt heavy oil at much smaller scale and lower capital costs than conventional Upgraders and without the use of water or release of emissions into the atmosphere.
Recently Petrosonic Energy announced the award of an assembly contract to Pavli Valle Inc, an engineering and assembly company. The contract is for the final assembly and process engineering and fabrication of tanks and equipment for Petrosonic Energy, Inc.'s Heavy Oil Processing Plant.
"Pavli Valle has a great reputation in this field and we are confident in their capacity and capability to conclude the contract in time" stated Art Agolli, CEO of Petrosonic Energy, Inc. "We are excited to have reached this milestone toward our goal of commissioning our first stand alone heavy oil de-asphalting and processing facility. Our objective is to start up the heavy oil processing facility and commercialize the SonoprocessTM Technology within the 4th Quarter of 2012. This is an important step for demonstrating the potential of our technology and returning value to our shareholders."
Petrosonic Energy, Inc. is building a facility to provide a 1,000 barrel of oil per day processing for the upgrading of heavy oil. This plant will be the first commercialization of the company's Sonic Reactor to provide energy and cost efficient heavy oil processing. Once this application has been achieved the company plans to expand its capacity up to 5,000 barrels per day.