Pumpers Persist With Black Stallion Oil and Gas Inc (OTCMKTS:BLKG)
The pump job targeting the stock of Black Stallion Oil and Gas Inc (OTCMKTS:BLKG) is obviously not letting up. The latest email came through yesterday morning but the stock did not perform quite well in the session. After a three-day bounce, BLKG stopped nearly 8% in the red yesterday.
The situation with the company is a relatively simple one. BLKG is next to cashless as of its latest quarterly report filed just a few days ago, the company has never generated a dime of revenues, has extremely limited total assets to its name, yet a paid promoter is telling everyone how this is going to hit three dollars per share in the immediate future.
Stock pumper outfit Wall Street Report have been promoting BLKG for at least two full weeks now, pushing out promo emails and advertising the company through a landing page set up at WSR’s website. The advertising money is being handed out by a third party named Pansino Investment Ltd, which by all appearances seems to be a Chinese privately held entity.
For those who are genuinely excited by the babble of the promoters and the promises of making easy bank by investing in BLKG, here is a brief glimpse into the financials the company last reported just a week ago:
- $239 (two hundred and thirty-nine US dollars) in cash as of June 30, 2015
- $7 thousand in total company assets
- ZERO revenues since inception
- $34 thousand in quarterly net loss
Those figures hardly need any further comment as they are quite eloquent on their own. The company’s dire financial state never stopped the promoters from slapping a target price of over $40 for BLKG stock.
Investors should be very able to determine whether this is a new oil giant in the making or just an OTC company struggling to make a dime, which happens to be targeted by a relatively expensive paid pump.