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Micro-Caps on the Move; Steele Resources Corporation (SELR), Axiologix Inc. (AXLX), Gold Coast Mining Corp (GDSM)

Shares of Steele Resources Corporation (OTCQB: SELR), a Nevada based Exploration Stage Company involved in acquiring precious metals including advanced stage gold and silver project in western USA, are soaring in today’s trading.

At last check, SELR shares were trading 206.82% higher at $0.0135, with volume up from daily average of 0.2 million to 3.86 million. The company doesn’t have any latest news on its corporate development or press release; this hike in prices is quite suspicious.

As per its quarterly results for the June 2012, the company neither has sufficient cash to fund normal operations for the next 12 months, nor any recurring source of revenue to support its continuity of business. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

Shares of Axiologix Inc. (OTCPK: AXLX), a New Jersey based Technology and Services Company focused on delivering Voice, Data and Cloud-based Products and Services to small and medium sized businesses primarily in the United States and to operators globally, are plunging in today’s trading.

At last check, AXLX shares were trading 7.69% lower at $0.0012, with volume up from daily average of 2.26 million to 27.79 million. The stock has been trading in the range of $0.0011 and $0.0015 so far in today’s trading.

AXLX is establishing itself by obtaining more new projects in Cloud Computing and expects $3 million of revenues for Fiscal 2013 year end.

The company recently appointed Technology Veteran, Dennis Mitrano as the new President for its Telecom operations and also a part of Board of directors.  The company believes that Mitrano’s 30 years experience in Technology industry would help them grow successfully and allure more business.

Shares of Gold Coast Mining Corp (OTCPK: GDSM), a Massachusetts based Exploration Company that is engaged in exploring gold in Africa, are up sharply in today’s trading.

At last check, GDSM shares were trading 13.51% higher at $0.0042, with volume up from daily average of 5.31 million to 16.46 million. The stock has been trading so far in the range of $0.0038 and $0.0043.

GDSM recently accepted a potential merger offer from a private venture company, International Gold Mining Reserve Corp (IGMR). The first meeting is scheduled on Oct 2nd in Florida to discuss more about the merger terms and conditions.

GDSM believes that the synergies, resources and key mining relationships that IGMR has to offer are for the best interests of the company and to increase shareholder value.

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