Cardinal Resources Inc. (OTCMKTS:CDNL) Grinds To A Halt

Twelve sessions ago, Cardinal Resources Inc. (OTCMKTS:CDNL) announced that it has acquired some fresh funds. The ticker has registered some very impressive jumps and very few setbacks since then – but has this trend finally been overturned?

Although the method CDNL used to secure those $7.5 million worth of funding is debatable, there is no doubt that the sum itself will serve well to re-invigorate the company – that much we know for sure.

Unfortunately, this is where things we know for sure end, because CDNL still hasn’t bothered filing its annual report that it “delayed” more than a month ago. This being the case, we can’t really know what is going on with the company, and we can’t really estimate its progress based on the its older reports.

As it stands, said reports show a persistent streak of idle mediocrity:

• Cash and cash equivalents – $25 thousand
• Current Assets – 316 thousand
• Current Liabilities – $3.3 million
• Quarterly Sales – $60 thousand
• Quarterly Net loss – $851 thousand

However, we can’t really be sure that things haven’t gotten a lot worse. CDNL might have picked up staggering amounts of toxic debt since the last time it reported. The pullback we’re seeing right now may well be the result of such suspicious activities – and there’s no way to know for sure.

Note well that this is not to say that there is no way for enterprising investors to still make money out of CDNL even if it starts falling down. However, anyone trying to do so should only make the attempt with the knowledge that what they mean to do is nothing short of a blind gamble with horrible horrible risks involved. Investors are advised to keep that in mind at all times and act accordingly.