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6/17/11

Portage Resources (POTG.pk), a pump and dump scam

Portage Resources (POTG.pk) is a Quebec based scam that's doing the rounds amongst the French speaking community up there, so I am reliably told. The chart shouts scam...

...and the regulatory filings (find em all here) screams SCAM in a really loud, horror-movie-girl-victim-about-to-leave-film-early type of scream (like...err..loud, dude). 

Let's take for example its latest quarterly, filed 19th April for the period ending Feb 28th 2011. We note that POTG.pk has 637 million shares out, assets of U$533 (yeah, that's five hundred and thirty-three dollars) and liabilities of U$129k, to boot. There are manifold red flags in the Reg Fs for anyone that takes a look...so go look and avoid this scam being run by a scumbag named Paul Luna Belfiore who learned how to scam the market sheep by working at the disgusting Ecometals (EC.v) and its merry band of scamsters and shitbags, then known as Goldmarca, a few years back. Belfiore recently took contol of 480m of those outstanding shares, around 75% of the caboodle. Smacks as normal biz practice for an upstanding junior?

You have been warned.