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  Thanks to the efforts of TMFSmashy and others we have recently been offered a bunch of stocks that can only be classified as "free CAPS points".  Pax Clean Energy (PXCE.OB) is one such stock.

  So why is it currently my biggest loser at -253pts?  Could it be their recently announced merger that will convert them from a biofuel company to a mobile social media company? No, that's par for the course for a crappy OTC stock.  However within the press release they mentioned that one of the conditions of the merger is cancellation of all shares owned by the current management and any of their corporations, leaving just 17.64 million common shares outstanding (from a previous 212 million outstanding shares).

  This seems to be another common ploy of the scam penny stock.  It never seems to come to fruition though. But it's certainly a generous offer.  Either management has decided they don't need the $500M+ that their shares were valued at... or they know that it's not worth the paper it's printed on and they're going find some other way to get paid (pump and dump?)

  Even though it hasn't been done yet it seems to have had the desired effect.  The share price has soared to reflect the lowered share count.   If management really does cancel their shares then at the current share price of $8.39 the market cap would fall from $1.8B to $148M (which is lower than the $500M market cap they had when TMFSmashy found it).

  Despite that 90%+ haircut my CAPS score would still have a 253pt loss since the share price would remain the same.  But not to worry, even at $148M the stock is grossly overvalued (by about $148M according to management).  Anyway, thanks to this successful pump anybody who is just now getting their underperform pick in may get the opportunity to harvest lots of points by re-picking this one multiple times before it falls below the CAPS threshold.

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