Norstra Energy, Inc (OTCBB:NORX) Continues to Slide Downward
Norstra Energy, Inc (OTCBB:NORX) continue to drive peoples attention to them even as they drop. The last few trading sessions didn’t go really well for the company as the pump emails touting them seized to enter our inboxes.
This, however, doesn’t mean that their stock isn’t traded heavily. Even with the price dropping at such speed in the last few days they haven’t had a trade session with less than $3.5 million in total trade value. After all, the price which is currently hovering around the $0.80 mark and is able to generate such values.
Today’s trade session also started good for them, as their stock has already registered a trade volume of just over 600 thousand shares at a total trade value at nearly $500 thousand. The bad news is that its still falling down further from yesterday’s close.
The good news is that their latest 10-K is already a fact and as we mentioned in our previous article about NORX they seem to be well equipped to take on their projects. For those of you who haven’t followed our coverage of NORX we will take a quick moment to show you the numbers of prime interest from their latest financial statement.
- cash: $99 thousand
- total assets: $125 thousand
- total liabilities: $114 thousand
- working capital deficit: $96 thousand
- revenue: $0
- net loss: $42 thousand
It all seems like they have the means to carry out their business plans this year. However, being the doubtful folks that we are, we won’t believe it until we see it. Again they are entering into another farmout agreement with Summit West Oil, LLC for an additional 17,988.28 acres of the Bakken South Sun prospect. We wonder how that will work out for them, but so far the odds seem to be in their favor.
Putting that aside we can conclude that with the current movements in NORX‘s stock they are a risky investment choice as they can go in any direction. Another promotional campaign may skyrocket their stock’s price, but no one knows for how long. Be sure to do your due diligence before you decide to play this one.
