New Western Energy Corp (OTCMKTS:NWTR) Still Going on Promotion Hype

4NWTR_chart.pngThere aren’t much news about New Western Energy Corp (OTCMKTS:NWTR) and the only thing driving their stock price is the paid promotional campaign, which started in the end of the past month.

Since then NWTR has been climbing the charts in excessive volumes of traded stock. With over 30 emails, the promoters managed to push the price by as much as 70% to this moment and we might be seeing a serious correction sooner than expected, due to the lack of news from the company.

647LOGO.pngYesterday’s session went extremely well, with a decent 16.67% gain in price for NWTR. A total of 1 million shares switched hands as the ticker was going from $0.27 to $0.315 and helped generate $328 thousand in dollar volume.

This is quite a lot of movement considering that we view NWTR as an overpriced stock, with its market cap of $22 million. Below, you can see the numbers of prime interest from their latest quarterly report and be the judge for yourself.

 

  • cash: $212 thousand
  • total current assets: $345 thousand
  • total assets: $1.5 million
  • total current liabilities: $773 thousand
  • revenues: $11 thousand
  • net loss: $808 thousand

 

Its a rare case to see an oil and gas company have revenue in the OTC markets, however, we find the fact that their net loss has grown 8 times, compared to the same period last year, while the revenues have been lowered disturbing.

This is the exact reason for which we would advise you to do your due diligence and weigh out the risks. Especially when the climb of the stock is due to a massive ongoing promotion.

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