This thought was triggered by a press release:
Jericho Expands Energy Portfolio with Agreement for the Acquisition of Hydrogen Technology
TULSA, Okla. and VANCOUVER, British Columbia, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Jericho Oil Corporation (“Jericho”) (TSX-V: JCO; OTC PINK: JROOF) is pleased to announce that it is has entered into an agreement for the acquisition of all the assets of Hydrogen Technologies Inc. (“HTI”). HTI holds robust intellectual property for a breakthrough high-temperature Dynamic Combustion Chamber (“DCC”) boiler that enables zero-emissions hydrogen to generate heat, hot-water, high-temperature steam, and Combined Heat & Power (“CHP”) through a closed-loop process. The closing of the acquisition remains subject to the approval of the TSX Venture Exchange and also the approval of the shareholders of HTI.
HTI’s patented zero emissions DCC boiler system aims to decarbonize the nearly $30 billion global commercial and industrial heating industry while providing best-in-class energy efficiencies.....
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Now Jericho Oil may be a fine company run by fine people, your affiant knoweth naught, but the stock action has all the signs of being a Vancouver Pumpty-Dumpty of the bad old days: trading from a dime - 15¢ (CDN) for most of 2020 and then approaching verticallity on December 13, 2020. 60¢ (CDN) last on the common.
All of which brought to mind a vignette last seen in 2015's "SEC Suspends Trading in 128 Dormant Shell Companies".
Way back in 2008 I recited some of the history:
Chameleons on the Pink Sheets
On April 22 I was rambling about Planktos and penny stock deals:
...A classic history would be a Vancouver "junior resource" company in 1979, after the collapse of the oil and gold markets became a solar deal in '81 , an Aloe Vera deal to the yuppies mid '80's, a biotech in '86 ("we're the next Amgen"or "A cure for AIDS"), then on to neutraceuticals or spas, Indian casinos, software, then the great "i", "e-" and ".com" gold rush. Someday I'll get around to checking if some lunatic scammer actually went with "e-iTrade.com".
The next group of parasites were the "homeland security" companies, then land deals. The "resource" scams never went away and became more prominent in 2002 after gold had moved off its $252 bear market low. We're in the Green boom (happy Earth day by the way) now, who knows what's next....
Today in EuroInvestor:
...The recently re-named Homeland Security Network, Inc. (Pink Sheets:HYSN), doing business as Global Ecology Corporation (GEC) announced today that it has received their initial order from its soil remediation project in Juarez, Mexico. The total value of the purchase orders, involving several of the partnership’s soil-based products, is $2 million with delivery to begin this June....
See also:
Junior Gold Miners Consider Cashing Out, Pursuing Medicinal Marijuana Opportunities
Peak Oil Stalwart to Shutter Forum/News Site, Persue Career as Astrologer"
