Yesterday the performance of Tiger Oil and Energy, Inc. (OTCMKTS:TGRO
, TGRO message board
) was much less hesitant. The stock opened with a gap up at $0.57 surged even higher and for most of the session kept its gains closing at $0.581, or nearly 8% above the previous close. Traded volume remained almost exactly the same with 3.1 million shares exchanged throughout the day.
As promised Stock Tips got up early in the morning and an hour before market open issued yet another email alert proclaiming that TGRO is just starting to gather momentum. Although big-budget pumps tend to run for longer periods of time, and TGRO is certainly one the biggest with a promotional budget of $2.5 million, they still inevitably end in a disastrous crash. The previous pick of StockTips - Pan Global Corp. (OTCMKTS:PGLO) managed to crash not once but twice currently dropping below the pre-pump prices trading for $0.3 per share.
In order for TGRO to participate in the construction of their chosen oil well in Cowley County, Kansas they will have to somehow find the sum of $189 000 which covers their share of the costs. Such funds were well out of their reach at the end of the last quarter when they reported having:
- $1.527 cash
- $117,442 total current liabilities
- No revenues
- $3.9 million accumulated loss for 53 months
There has been no official news about new funding sources so the numbers are unlikely to have changed much. The CEO of the company as well as many of its insiders represent an equally alarming red flag. We already discussed the fate of their past pennystocks ventures who all got aggressively pumped and then left to whither in silence.
The multy-million pump that is was going on for Makism 3D Corp (OTCBB:MDDD) just got suspended this morning by the SEC. The official statement cited the usual reasons for the suspension - potentially manipulative transactions with stock and concerns about the accuracy and adequacy of information about the company. This only goes to show that playing any of the pumped pennystocks is an extremely risky bet and it may be for the best to just skip them altogether.