Cardinal Resources Inc (OTCBB:CDNL) Gathering Upward Momentum

[[tagnumber 0]][[tagnumber 1]]Cardinal Resources Inc (OTCBB:CDNL) has had a pretty rough time in the past several months in which it dropped well below the 1 cent per share mark. As it got lower, however, we saw the volumes increase and the ticker somehow managed to keep level throughout the end of last month and the beginning of this one.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It seemed like [[tagnumber 6]]CDNL[[tagnumber 7]] has reached as low as it can get and this most probably was the case, even though the company had some not–so–good numbers to show in its latest financial report. Still, we haven’t seen the numbers from the third quarter so we have only those from the period ended June 30 to work with.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $50 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $320 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $2.72 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $227 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $371 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It is apparent that [[tagnumber 6]]CDNL[[tagnumber 7]] doesn’t have that much cash on hand, while the liabilities are impressive. The fact that the company has been generating revenues is also somewhat encouraging, but it doesn’t seem like we will see profitability soon.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, some positive news from earlier this month managed to provide [[tagnumber 6]]CDNL[[tagnumber 7]] with what it needed to make a rather impressive run up the charts. The ticker began climbing in the beginning of last week and finished every single session in the green. Friday’s 64.29% jump pushed [[tagnumber 6]]CDNL[[tagnumber 7]] all the way up to $0.023 per share, making the total gain for the week come at a whopping 497%.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The news from the company keep coming in and we see even more impressive trading in today’s session. [[tagnumber 6]]CDNL[[tagnumber 7]] is already 125.22% up as of the writing of this article and the volume has already exceeded that from Friday’s session. That, however, doesn’t mean that you should skip doing your due diligence and weighing out the risks before putting any money on the line.[[tagnumber 2]]