Jovita Baltrusaityte

North American Energy Resources, Inc. (OTCBB: NAEY) Hires Small Cap Review

by Jovita Baltrusaityte August 12, 2009

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Yesterday North American Energy Resources hired Small Cap Review for the stock promotion. The company was paid $3,500. I am wondering whether this is going to be the only promotion, or we shall soon hear more. But let's not think about the future and look at the present situation of North American Energy Resources.

An exploration stage company, North American Energy Resources, Inc. (NAEY.ob, or OTCBB: NAEY) does not plan to begin producing its natural gas reserves until gas prices improve to at least $5/mcf. According to the latest data, the company currently examines and investigates leases that are believed to contain commercial oil or gas reserves.

Though estimates seem to be positive, there are some things which make me worry. As indicated in the annual report, loss from operations exceeded to over 1 million dollars compared to $23,486 in 2008. On the one hand, liabilities of the company decreased from $750,690 to $80,712. However, NAEY now has the long term debt of $402,500.

Besides, the annual report indicates that the only active employee of this business in the near future will be its President. If the company has no workforce, how can this business exist at all? Is there anything else we don't know about North American Energy Resources?

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Reference:

http://www.naeyinc.com/

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