Black Stallion Oil and Gas Inc (OTCMKTS:BLKG) Dropping Again

[[tagnumber 0]][[tagnumber 1]]After a good run in the middle of the year that saw the stock of Black Stallion Oil and Gas Inc (OTCMKTS:BLKG) go above the $2 per share mark the ticker began to slide, losing more than 90% off its value by the middle of this month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This wasn’t that surprising when you consider some of the first things that you will see when you start doing your due diligence on [[tagnumber 6]]BLKG.[[tagnumber 7]] First of all, we would like to remind you that the company posted its financial report for the third quarter this week and it contained the following numbers.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $31 thousand[[tagnumber 13]] [[tagnumber 12]]total assets: $56 thousand[[tagnumber 13]] [[tagnumber 12]]total liabilities: $4.1 thousand[[tagnumber 13]] [[tagnumber 12]]revenues: ZERO[[tagnumber 13]] [[tagnumber 12]]net loss: 77 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We do see that the cash on hand situation has improved, but $31 thousand is still very little for a company that boasts a market cap of nearly $10 million. A good sign is the fact that the total liabilities have been significantly reduced, but the fact that the company is still incapable of generating revenues while the net loss has increased more than seven times compared to the same period last year is pretty scary.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This might be the exact reason for which [[tagnumber 6]]BLKG[[tagnumber 7]] came sliding back down after trying to regain some lost value in the beginning of the week. The ticker lost 12.13% during yesterday’s trading and closed at $0.21 while a total of 539 thousand shares changed their owners and generated $112 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Considering the big market cap and the shy financials we may see [[tagnumber 6]]BLKG[[tagnumber 7]] drop further down the charts so be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]