Cardinal Energy Group, Inc. (OTCBB:CEGX) On The Rise

[[tagnumber 0]][[tagnumber 1]]Cardinal Energy Group, Inc. (OTCBB:CEGX) doesn’t really attract that much of investor attention and the daily dollar volumes are on the low. Yet, there is still potential for a profit considering the percentile movements that it is making.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The ticker has been quite volatile recently, as it is gapping up and down, while being inconsistent in its movements. Still, the company’s financials aren’t impressive enough to suggest something different.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Here is what [[tagnumber 10]]CEGX [[tagnumber 11]]had to show in its balance sheet for the second quarter of the year, ended June 30.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 15]] [[tagnumber 16]]cash: $813 thousand[[tagnumber 17]] [[tagnumber 16]]current assets: $1.1 million[[tagnumber 17]] [[tagnumber 16]]total assets: $4.33 million[[tagnumber 17]] [[tagnumber 16]]current liabilities: $614 thousand[[tagnumber 17]] [[tagnumber 16]]total liabilities: $5.2 million[[tagnumber 17]] [[tagnumber 16]]revenues: $59,920[[tagnumber 17]] [[tagnumber 16]]net loss: $1.19 million[[tagnumber 17]] [[tagnumber 30]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The revenues aren’t impressive, but at least there are some, a thing that is rare for an oil company in the OTC markets. According to the most recent press releases [[tagnumber 10]]CEGX [[tagnumber 11]]is further expanding its business and we should be seeing more green in their next quarterly report, however, we reckon that the company will still be unable to operate at a profit.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The ticker didn’t see a lot of success after the October 2 press release that announced a re–entering of a well on its Fortune Leases, but things were a little different after [[tagnumber 10]]CEGX [[tagnumber 11]]reported that things were going as planned with their Bradford Drilling Program on October 16.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Suddenly, the company stock attracted investor attention and rose 22.92% in value during Thursday’s session, closing at $0.59 per share. The volume also increase, but the mere 310 thousand shares that changed their owners managed to generate only $146 thousand in daily trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The last session before the weekend was also a success, as we saw [[tagnumber 10]]CEGX [[tagnumber 11]]climb 13.56% up the charts, but the amount of traded stock was quite small. Still, the financial situation of the company isn’t that rosy and you should do your due diligence and weigh out the risks before making an investment decision.[[tagnumber 2]]