Buzz Stocks Hyping COUNTY LINE ENERGY CORP (PINK:CYLC) to the Max
Sometimes our job can be a bit depressing. What do we mean? It’s underwhelming to see how some companies desperately try to pursuit their dreams and become successful but, for various reasons, things just don’t work out. On the other hand we sometimes deal with companies, that rely on nothing but grandiose news, that often have no connection to reality and paid promotional campaign to raise some awareness that quickly vanishes once the hype is over. Sadly this seems to be the case with COUNTY LINE ENERGY CORP (PINK:CYLC).
Just like so many other penny stocks CYLC are a company that claims to be in the business of exploring what little is left of our planet’s resources – this time it’s oil and natural gas. The promotional emails quote word-for-word the news that the company has released recently and, sure enough, the future should be bright. CYLC claim that they have acquired some wells that will soon provide tonnes upon tonnes of oil and gas, which, of course would means humongous revenues in the years to come. We’re not ones who believe in words alone, however, so we immediately started a thorough research.
It was then when we got massively disappointed. When you open the company profile on OTCMarkets you will find that CYLC have not filed any financial statements since 2009. The only thing that we can see there, that is not three years old, is an Initial Company Information and Disclosure Statement. In it, you will find all sort of information on the company, how it came to be, how many shares the CEO has, but for some reason, there is absolutely nothing on assets, liabilities, revenue for the past months.
There is the chance that they are so well off, that they simply can’t be bothered to file such insignificant information, but then again, if that were the case, the price per share wouldn’t have been around the $0.02 mark. The fact that they are keeping their financials a secret will probably steer some investors away from CYLC and you can only imagine what current shareholders feel like knowing that they have invested some of their hard-earned cash into a company that is not disclosing anything.
We were still hoping to find at least one positive thing about the CYLC, so we gathered up all the patience we have and started reading through the initial company information and disclosure statement (80 pages long), which, for some reason, is the latest filing that they have ever made. In there we were hoping to find at least one table where we could see some figures, but it was all in vain. The only thing that we did manage to dig out was that since its inception CYLC have generated a total of $1.4 million in losses.
We also found out that before they purchased the new wells a few weeks ago, they had other property, and the statement said that CYLC obtained permission to drill way back in 2007. Just when we were getting excited, we found out that despite all this, they have still not started the drilling procedures.
It’s not hard to fall for it when you read through Buzz Stock’s email, where you will see that the new property will have millions of barrels for oil and so on and so forth. The thing is, Buzz Stock have written many such emails, and the outcome was not always brilliant. You can see for yourself Lifetech Industries Inc (OTC:LTCH)’s chart and make your own conclusion about Buzz Stock’s so-called “picks”. We have already made ours.