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26 Mar

Don’t Get Goofed On Goff

by

Pump and dumps are part and parcel of the penny stock universe. Every few months a new pump and dump appears, looking to take advantage of naive investors trying their hand at the penny stock casino. In recent weeks, a fresh pump and dump has appeared; Goff (OTCBB:GOFF).

The pump began on March 18. Since March, Goff has gained more than 215%, impressive by any standards and enough to lure investors. So is Goff destined to be a game changing company or will it live up to it’s name and dump… eventually settling in subpennyville?

Tall Claims

Like all pump and dumps, Goff has made some tall claims since the pump began on March. The company has released a series of news in the last two weeks, as is usually the case.

On March 15th, 2013, the company said in a press release that it acquired 100% interest in mineral leases in the Agudas, Department of Caldas, Colombia area. The acquisition was made through the company’s wholly-owned subsidiary, Golden Glory Resources S.A.

Warwick Calasse, Goff’s CEO, had this to say about the “major acquisition”, “The property shares a similar profile to many other successful gold projects in the region and has all the earmarks of a small, local operation that could quickly turn into something much, much larger—such as the multi-million ounce projects emerging in the Marmato.”

This was just the first of the many “positive developments” the company has announced since March 15. The latest announcement was made on Monday when the company said that its subsidiary plans to begin a 5,000 meter diamond drilling program on the La Frontera Gold Project.

Goff has made some tall claims in the last couple of weeks. However, a closer look at the company suggests that there is nothing but a classic beginning trader fleecing going on here.

First the evidence. Goff is being promoted by Awesome Penny Stocks, the best stock promoter Wall Street has seen in ages. These guys pump stock better than Austin “Danger” Powers Swedish-made penis enlarger. Regular penny stock traders probably know Awesome Penny Stocks’ “credentials”.  However, for people who are hearing this name for the first time, it’s best you know your swimming with sharks.

Who can pump better than powers? Awesome Penny Stocks!

Who can pump better than a Swedish-made penis enlarger? Awesome Penny Stocks!

Let me make this clear, I’m not the pump police. If there’s money to be made on a swing trade I’m probably not far behind and I have traded many of Awesome Penny Stocks picks in the past. Nobody can argue they are the gorilla in the room in this niche.

The problem I find is penny stock pump and dumps like this often attract beginners who in fact are the least qualified to be messing around with stocks like this. I say it time and time again, these pumps are truly only for savvy traders and even the best can get pummeled if it dumps unexpectedly, which they always do when the promoters decide to move to the next gold mine.

Bottom line, while most Wall Street gurus act like they’re too good to talk about penny stocks, the lack of coverage allows beginners to make big mistakes leaving a bad taste in their mouth when in fact trading stocks under $10 can be an extremely rewarding hobby.

Heck, I’m up over $80,000 in 2013 swing trading part time while teaching thousands of clients my strategy. I look out for the little guy, because I was the little guy.

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Just think about it for a moment. If all of Goff’s claims were true and it is indeed sitting on significant mineral leases, why would it need to promote itself? Here’s some hard to argue evidence I dug up in a quick scan of this company.

A filing made by Goff earlier this month shows Gary O’ Flynn was the company’s President, CEO, Treasurer, Secretary and Director until he resigned on February 26th, 2013. On the same day, Patrick Corkery also resigned as the director of the company.

Also on February 26th, 2013, Calasse became the company’s CEO, President, CFO, Secretary, Treasurer and also a member, in fact the only member, of the Board of Directors. So here we have a mining company that has acquired a major mineral lease, but only has a sole employee.

In the filing, Goff said that Calasse is qualified to sit on the company’s Board due to his extensive and managing experience. Well the same filing shows that Calasse has extensive experience in training and management positions with horse farms and stables in the U.K. and Zimbabwe. Not sure how Mr. Calasse’s extensive experience will help in managing a mining operation. The filing does show that Calasee served as an executive officer and director of Raftec Investments, which is a firm he owns and controls. The company apparently is based in Harare, Zimbabwe and is engaged in the business of foam rubber products and chemicals for mineral exploration industry. I tried to find information on Raftec Investments, however, could not find anything.

The March 5th filing also shows that on February 26th, 2013, Calasse bought a total of 108,750,000 shares of GOFF common stock from O’ Flynn and Corkery for $25,000. This translates to roughly $0.0002 per share. Given the fact that GOFF is now trading at $0.417, Calasse has already made a fortune on his $25,000 investment. So I won’t be surprised if the dumping begins soon.

A filing made on March 6th shows that Calasse was issued another 100,000,000 shares for providing management services for 12 months.

In a March 12th filing, the company noted that it does not have any employees. On March 18th, though, the company said in a press release that it appointed Manuel Hernando Vasquez Serna as a Director.

There is enough evidence out there that Goff is a pump and dump. The big question is when will the promoters shake the tree again now that the stock has been pumped more than 200%? Personally it looks strong but if it follows recent patterns I think it’ll dump, walk back up, go nova squeezing shorts and then fade off into the subpennyville sunset. Either way, if you’re a beginning trader up triple digits thinking you’ve hit the Wall Street jackpot you’d be wise to think again.

goff

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12 Comments

  1. Cristian H

    OMG J! Your killin me with the Penis enlargement pump! LMAO

    Reply
    • Jason Bond

      Classic right?! I keep things clean around here but who doesn’t love a little Austin Powers humor haha…

      Reply
  2. Matt

    Great research and advice! Thank you as i am new but very cautious, and now I know why I zeroed in on your website. I hope one day to be an ‘Oracle’ like you!

    Reply
  3. Kevin

    Starting to see what they mean by “laser focus.” That’s an impressive bit of research on a penny stock.

    Reply
  4. Bill

    Jason like your honesty,this is good Kharma and taking this way you will get more people following you,call it a benefit ….

    Reply
  5. george

    Just figured out today that the CEO of the company owns over 90% of the shares in the company for $25,000. Lots of shady interests going on in GOFF. Now i know why the stock halves in price(abrupt movements), than goes nova again. If you know how to trade the stocks right, look no further cause this one can make bank. The ethics of this stock are repulsive though. We’re all traders though, so i guess it’s all about being cautious and aware.

    Reply
    • Jason Bond

      I couldn’t agree more. Anyone up 100% right now isn’t complaining and good for them. My report is simply to alert the single mom with 2 kids who put $10,000 in thinking it’ll go to whatever crazy price target the promoters give it. Trade them, don’t marry them and try to avoid the washouts.

      Reply
  6. DB

    Is GOFF too risky to enter in now since it can dump at any moment 4-7-13? Or, should one get in with a tight stop loss or finger on the sell trigger and watch it like a hawk? They are still promoting this stock so it has to have a little time left right? I think they are trying to get it up a little more. (without the penis pump of course)

    Reply
    • Jason Bond

      I can’t advise on that question sorry. Sooner or later it’ll dump, they all do.

      Reply
  7. george

    DB, I wish i checked back to answer you’re question. I knew the knife would fall eventually by this week, since the promoters only promote the stock for almost a full month. When it’s at around .53-.67 cents it’s best to sell out, and wait for it to play out back to .30 or so. I patiently waited for the hammer to fall hard, though it was faster than i anticipated, and got in at about .33 cents today. Than, just wait for it to hit 1.20, and either sell out fully, partially, or devise a strategy based on the amount of trading skill you have, and risk you can handle. Bro, i saw people bidding on the stock or holding in when the hammer fell, i really hope you weren’t in there. If so, just let me know, and i’ll see what advise i can give you. I’ve been watching awesome penny for a while, and i watch for strategy, risk, and trend indicators to line up, i like my ducks lined up in a row, lol! Either way, If you didn’t buy now, don’t worry about it going lower in the near term, because this thing will be taking moon shots like you wouldn’t even know after this point(maybe about a week it starts picking up, like jason said same pump and dump different stock). SNPK, went to 3.70 and NSRS went to 1.50. So, just reply to this post, and maybe i can help.

    Reply
    • bringitdown@hotmail.com

      George…Thank you for the info..Yeah, I was just on the sidelines watching. I had no money in it. I saw how it dumped the next day. I def want to learn to catch one of those waves in the beginning to get in and get out as well as learn more on swing trading I’m in the process of signing up with Jason now. Thanks again for your feedback!

      Reply
  8. george

    In addition, watch out for the stock acting extra volatile, especially during around May 09. These guys pump it like clock work, it actually amazes me! My advise would be try to look passed the mumbo jumbo rhetoric, and get reliable and practicle indicators that guide you through the market movement(find the secret sauce, if you will).

    Reply

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