Midwest Oil and Gas Inc. (OTCMKTS:MWOG)’s Pump Continues
Midwest Oil and Gas Inc. (OTCMKTS:MWOG) managed to add another 13% to its market value in yesterday’s trading session, pushed up by yet another round of paid pumps.
No less than four different touters took a swing at MWOG before the session’s beginning, with notorious names including BestAmericanStocks and FinestPennyStocks. Which is probably why the ticker maintained its upward course – there was just too much attention thrown its way for it to fall.
The fact that the company’s financials don’t seem to be rife with with toxic debt, unlike most other pumped-up OTC Markets tickers, may also have something to do with it not crashing first thing this week. Still, investors would do well to remember that during 2014, MWOG paid for an acquisition with 15 MILLION shares of common stock, each worth $0.2.
For all we know, those shares of common stock could still be a threat to investor value – and seeing as how they were bought at a price 22 times lower than MWOG‘s current price per share, well… It should be obvious how this is a serious matter.
Another thing to consider is that, aside from the fact that the company in question does not appear to be buried in debt, MWOG‘s current state of developments looks like a textbook example of an OTC Markets pumpjob. A look at the company’s financials reveals MWOG to be as mediocre as they get:
- Total current assets – $0
- Total current liabilities – $1.2 million
- NO REVENUES EVER
- Loss for the period – $235 thousand
Investors would do well to take these factors into consideration when deciding on whether or not to play MWOG. As the old saying goes – let the buyer beware.
