Isra-Mart srl:U.S. Precious Metals, Inc. (OTC:USPR) Recorded Another Unreasonable Gain

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U.S. Precious Metals, Inc. (OTC:USPR, USPR message board) has been advancing up fast over the pastdays. Yesterday, the stock added another 13.18% to its price and traded over 1 million shares on the market. Though, no particular reason for the gain could be found.

According to the records, USPR has not released any news on its business recently and no one is familiar with its present activities. Moreover, its financials are not revealed either.

In end-August, the company filed a notification of late filing with the SEC related to its annual report for the year ended May 31, 2011. The document stated that results could not be filed within the prescribed period because USPR was unable to compile certain information required in order to permit the company to file a timely and accurate report on its financial condition.
So, there is only one thing clear about USPR at this point - the high trading activity with the company's shares of common stock. Since the beginning of this month, certain directors from USPR have been acquiring or disposing different amount of the company's shares with no reasonable explanation.

Actually, the same happened about a month ago when USPR hit the gain again. Looks like the company uses the high trading activity to provoke investors' interest. However, the stock price gets back down in a while.

And while the company is preparing its annual report, the last 10-Q of USPR is full of liabilities, risk factors, immediate need for capital and potential dilution for shareholders. In this case, the only thing left for investors is to hope for a miracle for USPR.