Never count out stock promoters. There's always another glossy mailer in my mailbox, tempting me with breathless promises of sky-high returns. The latest pumper to hit my radar is something called Wall Street Revelator from Andrew Carpenter. Don't ask me what a "revelator" does; maybe be it's an elevator that does revelations. The Revelator is pumping Maxwell Resources (MAXE), a company that purports to be the owner of mineral and energy rights to a land tract in New Mexico.
The CEO is not a geologist. Their brief corporate history doesn't give investors a lot to go on. There's more to developing a mining property than just acquiring mineral rights, so I don't know why the founders need a publicly traded entity. I would have just contacted a bunch of corporate development officers at mining companies to gauge their interest in exploration, but that's just me.
I wonder if the company even knows what it wants to do. In August 2012 it changed its name from Mericol to Maxwell Resources, reduced the par value of its Series A Preferred stock to $0.001/share, and changed its business model from 3D printing to, well, whatever it plans to do now. Mericol's results from its previous business line were pretty pathetic.
Please, pumpers, go away. You're insulting my intelligence by claiming this radical reinvention of a shell company is the greatest thing since sliced bread.
Full disclosure: No position in MAXE, ever.
