Cardinal Resources Inc (OTCMKTS:CDNL) Finishes The Week Green

[[tagnumber 0]][[tagnumber 1]]The stock of Cardinal Resources Inc (OTCMKTS:CDNL) began climbing the charts in the middle of last month and managed to gain quite a lot of value. This happened after the terrible performance we saw from the ticker in the end of January pushed it way below the 1 cent per share line over a very short period of time.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]][[tagnumber 6]]CDNL[[tagnumber 7]] managed to regain about half of the value that it had lost a couple of months ago, despite the fact that its latest financial report is way overdue. We should have seen its annual report for the fiscal 2015 more than a month ago and [[tagnumber 6]]CDNL[[tagnumber 7]] already bears the red sign of the OTC Pink Limited Information tier. Meanwhile, all we have to work with are numbers that are more than seven months old.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $25 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $315 thousand[[tagnumber 15]] [[tagnumber 14]]current liabilities: $3.32 million[[tagnumber 15]] [[tagnumber 14]]quarterly revenues: $59 thousand[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $851 thousand[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those were the numbers that [[tagnumber 6]]CDNL[[tagnumber 7]] recorded back in the end of the third quarter of last year and they are quite terrifying when put into perspective. Apart from the very low amount of cash on hand we see that the company’s revenues have dropped by a whopping 93% compared to the same period in the previous year, while the net loss has increased by some 653%.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This is exactly why even the news that the company has received the initial $1.1 million tranche out of the $7.5 million financing deal with Hangzhou Sky Valley Water Technology Co., Ltd. didn’t stop [[tagnumber 6]]CDNL[[tagnumber 7]] from dropping further down the charts in its most recent slide.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, the company stock did manage to finish the week in the green, climbing 24.41% in Friday’s session and closing at $0.0158. Trading was not that intense and the 15.22 million shares that changed their owners managed to generate $223 thousand in daily dollar volume.[[tagnumber 2]]