Jovita Baltrusaityte

Dana Resources (OTCBB: DANR): No Employees, No Profit, No Money

by Jovita Baltrusaityte August 4, 2009
danr.jpgI have a riddle for you: if no-one is working at a company, can it exist at all? You might not believe me, but it's possible. Dana Resources has proved that. Let's dig deeper in this company.

As of the end of September 2008, a US-based precious metals exploration and development company, Dana Resources (DANR.ob, or OTCBB: DANR) didn't have a single part time or full time employee. Although there is no later update on this information, I don‘t personally think that the company has appointed any in half of a year.

It also looks like DANR is going to the bottom. In one quarter, its assets dropped by 83%, from $7,000 to $1,000, meanwhile liabilities reached $181,000. From the numbers provided you can see that there is no way for Dana Resources to carry out its obligations. However, that has not stopped the company from acting ridiculously.

On August 3, DANR paid OTC Stock Exchange 150,000 shares. At the present stock price of $0.65, it would be almost $100,000. Has the company taken a loan to pay for the service? Where has the money come from? After all the issues discussed, what is your opinion about this company?


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