Pump and dump or insider trading - beware.
Could have been both. The company put out a press release day before yesterday stating that someone unknown is pumping the stock. But the owners have a pretty strong incentive, so they could in fact have been involved.
The company was Liberty Coal Energy (LBTG) and it happens that if you got lucky there was plenty of money to be made. At market open it was about 0.02, went to about 0.10, then settled back down again and now is at 0.03. Of course, the promised acquisition announcement at 1.27 never materialized. That would have been one hell of a premium.
As I noted, their 10-K is pretty scary.
Here are some choice quotes.
We were incorporated on August 31, 2007 as "ESL Teachers Inc." under the laws of the state of Nevada. Our original business plan was to develop and sell online employment services specifically for both ESEL Teachers and ESL operations seeking to hire teachers worldwide. On March 15, 2010, we changed our name to Liberty Coal Energy Corp. by way of a merger with our wholly owned subsidiary "Liberty Coal Energy Corp." which was formed solely for the purpose of the change of name.
So they decided to switch from teaching English to coal exploration. That sounds logical.
At present, only our directors and officers act as our employees of our company. We do not expect any material changes in the number of employees over the next 12 month period.
We have no history of revenues from operations. We have never had significant operations and have no significant assets. We have yet to generate positive earnings and there can be no assurance that we will ever operate profitably. ... We expect to incur significant losses into the foreseeable future. ... We have not generated any revenues since our incorporation and we will continue to incur operating expenses without revenues until we are in commercial
As of September 30, 2012, we had approximately $11,365 in cash and cash equivalents in our accounts. We estimate that we will need approximately US $750,000 in working capital to fund capital and operational costs with respect
to our planned exploration phase. We do not have any arrangements for additional financing and we may not be able to obtain financing when required.