Honor Roll Penny Stocks: $GLRP, $GMO and $MIPI
March 6th, 2010 at 12:21 am Posted by
In effort to bring the CollegeStock Community promoted stock picks and picks on the move, here are The Dean’s Honors Roll:
$GLRP
Glen Rose Petroleum Corp. (GLRP) operates the Wardlaw Field located in Edwards County, Texas. As of March 31, 2009, it had 103 wellbores, of which 90 are capable of production and 44 are producing wellbores. This morning, $GLRP announced that the company closed on a funding totaling $4,350,000 from Iroquois Capital Opportunity Fund, LP (“ICO”). The transaction consists of $3,350,000 in secured convertible notes and warrants and $1,000,000 for the purchase of an undivided 12.5% working interest in the non-producing portions of its leases in the Wardlaw Field in Edwards County, Texas. As a result, $GLRP gained 182% today.
$GMO
General Moly, Inc. (GMO) engages in the exploration, development, and mining of molybdenum in the United States. The company principally holds an 80% interest in the Mt. Hope project located in Eureka County, Nevada; and a 100% interest in the Liberty Property situated in Nye County, Nevada. It also explores for copper, silver, and gold deposits in the western United States. Earlier today $GMO adopted a stockholder rights plan and released FY2009 results. Speaking of results, $GMO gained +53% and finished near the high of day.
$MIPI
Molecular Insight Pharmaceuticals (MIPI) engages in the research, development, and commercialization of molecular imaging pharmaceuticals and radiotherapeutics primarily in the areas of oncology and cardiology in the United States. The company develops Zemiva, a molecular imaging pharmaceutical product, which completed Phase II clinical trail for the diagnosis of cardiac ischemia or insufficient blood flow to the heart; and Trofex, a preclinical trail product for the detection of metastatic prostate cancer. Although $MIPI did not have any news today the stock finished up +25% on 7x the 3-month average daily volume.
And don’t forget to point a finger and laugh at The Dean’s Dunce of the Day:
$ILI
Interleukin Genetics Inc. (ILI) focuses on developing, acquiring, and commercializing personalized health products that help individuals improve and maintain their health through preventive measures in the United States and internationally. Today, $ILI announced that the company raised $5.3 million at an average price of $1.20 per share in addition to warrants priced at $0.40! As a result, $ILI tanked 30% and finished at $1.04 and based on today’s closing price it looks like those financiers didn’t get such a sweet deal after all. Hang your head low, $ILI, because you’ve managed to score The Dean’s Dunce of the Day!
