A U.S.-based mining and exploration enterprise focused on acquiring and developing precious metals, base metals and industrial mineral properties, Phi Mining Group Inc. (PHIG.PK) has recently been involved in stock promotion. It made an agreement with Investors Voice, and paid them 200,000 shares to promote their stock.  At the present price of $0.51, that would be about $100,000.

PHIG does not have to file its annual or quarterly financial statements to the SEC, so investors have very few facts to base their investment decision.  We don’t know what the companies financial situation is.  How many shares are outstanding.  If the insiders are selling stock right now.  Very little information is available.  The real situation of the company isn’t clear.  The only thing I can be sure of is that Investor’s Voice is being paid to draw attention to this.

In addition, it’s unknown where PHIG stock is going. If you looked at the chart, you would notice highly illiquid trading.

We have no opinion on this company.  Feel free to comment in the form below on how you feel about buying a stock where the only information that is clear, is that Investor’s Voice got paid $100,000 worth of stock to tell you that it is a good investment.

This entry was posted on Thursday, August 13th, 2009 at 10:28 am and is filed under Penny Stock Promoters.