Nelly Shishkova

Stock Price of Mustang Alliances, Inc. (PINK:MSTG) Stood Still

by Nelly Shishkova November 18, 2011
After a 16.36% loss on Tuesday, Mustang Alliances, Inc. (PINK:MSTG) got back on track. However, yesterday it kept its chart MSTG_chart.pngposition from Wednesday to close at $0.50 per share. Yet, traded volume of MSTG jumped up, reaching 783 thousand shares for the day.

Nevertheless, the next move of the stock is hard to be predicted as any announcements on Mustang's present activities are missing. The last news came up on Nov 1 when MSTG reported that it has dismissed its principal independent accountants by notifying Wolinetz, Lafazan & Company. Though, since then nothing further was announced.

The situation got even more questionable when Mustang reported that its quarterly report was not ready on time. On Monday, the company filed a notification of late filing for the quarter ended September 30 this year and did not specify when the results will be released.

In this case, what's left to discuss about Mustang? At this point - only old data that might be not reliable at present. And even if it were, the previous 10-Q of MSTG is rather discouraging. Especially, when looking at the negative stockholders' deficit, the increasing accumulated deficit and the higher amount of liabilities.

All the above-mentioned facts can easily explain the going concern consideration for Mustang and its future operation.

Comments 2

1. spike.emy
November 21, 2011, 07:06AM

Quotes At the end of June, the company had 2 lease agreements for mining leases in Honduras, acquired for a consideration of company's stock and $5K. What may come out from this nobody knows.
Do you have some info about the potential of Honduras?

2. Guest
November 18, 2011, 05:31PM

Quotes Does Mustang operate gold mines in Latin Amerika ? I have read they have several mining concessions there

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