Georgi Kamburov

Dakota Plains Holdings, Inc. (OTCBB:DAKP) Strikes Back

by Georgi Kamburov July 11, 2013
DAKPchart1.pngAfter losing a fifth of its value on Tuesday and dropping down to $2 per share, the stock of Dakota Plains Holdings, Inc. (OTCBB:DAKP, DAKP message board) decided to put an end to its negative trend. And so it did. Yesterday the ticker not only recovered all the value it lost but it went even higher. Gaining exactly 30%, it rose up to $2.70 but slid a bit and at closing time was sitting at $2.60. Although the total amount of traded shares was lower the the previous session it still remained quite significant at 318 thousand.

As we informed you in our previous article the current loss was likely caused by the deadly train wreck that occurred in Canada during the weekend. The company was affected by the accident when World Fuel Services Corp announced that the trains were carrying crude oil sold by one of their subsidiaries. DAKP have a joint venture with just such subsidiary - Petroleum Transport Solutions, LLC.

The company has strong enough fundamentals to support such uncommon for the pennystocks price levels. In their quarterly report for the period ending March 31 they revealed the following numbers:

  • $658 thousand cash
  • $2,4 million total current assets
  • $6.4 million total current liabilities
  • $2.5 million income
  • $588 thousand net income

The company is able to achieve a positive balance sheet thanks to the proceeds from its different joint ventures operating in three distinct areas. The one we already mentioned with Petroleum Transport is tasked with the management of a transloading facility. The same two companies also formed DPTS Marketing, LLC that, as its name shows, is engaged in the marketing process of crude oil produced within North Dakota. This venture accounts for the largest portion of DAKP's income - $1.7 million. Lastly, through Dakota Plains Services, LLC, created by an agreement with JPND II, LLC, the company offers road transportation of crude oil and associate materials.

5NHURchart.pngFor now the company has almost burned through half of its 100 million authorized shares. Some concern should also be raised by the $21 million owed under different promissory notes.

Some companies didn't have such luck and yesterday continued dropping. Northumberland Resources, Inc (OTCMKTS:NHUR) had a third horrendous session in a row and wiped nearly 30% of their value. Today they are finally up by 17%. MyECheck, Inc. (OTCMKTS:MYEC) are further down by 29% in early trading.

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