Cardinal Resources Inc (OTCBB:CDNL) Getting Crushed

[[tagnumber 0]][[tagnumber 1]]It is no secret that Cardinal Resources Inc (OTCBB:CDNL)’s performance has been quite terrible for some time now. The ticker rarely attracts investor attention, records really small daily volumes and has been falling down the charts without any signs of making a recovery.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]By now [[tagnumber 6]]CDNL[[tagnumber 7]] has reached a pretty low market cap, even by OTC standards. The company stock is valued at $541 thousand, but then again, the financials of the company are also pretty terrible. Here is what [[tagnumber 6]]CDNL[[tagnumber 7]] had to show for the second quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $50 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $320 thousand[[tagnumber 15]] [[tagnumber 14]]current liabilities: $2.72 million[[tagnumber 15]] [[tagnumber 14]]quarterly revenues: $227 thousand[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $371 thousand[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]What’s more, the ticker has been pumped numerous times throughout its trading history. This, however, hasn’t done much of a job stopping it from falling down. After an 18.64% loss in yesterday’s session we saw [[tagnumber 6]]CDNL[[tagnumber 7]] crash to a new 52–week low of $0.0048 while a total of 16.97 million traded shares generated $74 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This is one of the biggest volumes that the company stock has recorded recently. Even the recent news, however, were incapable from lifting [[tagnumber 6]]CDNL[[tagnumber 7]] from the ground. On the good note, we see that the ticker is a bit more stable in today’s trading, but that doesn’t mean that you should skip on doing your due diligence and weighing out the risks before making any moves.[[tagnumber 2]]