Cardinal Resources Inc (OTCMKTS:CDNL) Refuses To Go Down

[[tagnumber 0]][[tagnumber 1]]Since mid–April we have seen the stock of Cardinal Resources Inc (OTCMKTS:CDNL) climb up the charts. There were a couple of minor setbacks but the company stock has managed to return above the 1 cent per share mark and climb well above it on healthy volumes.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This is not that surprising, considering the rather small market cap of [[tagnumber 6]]CDNL.[[tagnumber 7]] Still, there are also a lot of red flags surrounding the company. The first one is the fact that [[tagnumber 6]]CDNL[[tagnumber 7]] seems hesitant when it comes to filing its annual report which is now more than a month overdue. This has left the company in the OTC Pink Limited Information tier and we are left to judge its state by older numbers that don’t look very promising.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $25 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $316 thousand[[tagnumber 15]] [[tagnumber 14]]current liabilities: $3.3 million[[tagnumber 15]] [[tagnumber 14]]quarterly sales: $60 thousand[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $851 thousand[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Looking at these numbers we can only suspect that [[tagnumber 6]]CDNL[[tagnumber 7]] might not be too keen on filing its latest report, afraid from the reaction that the investor community will have when it sees its contents. Meanwhile, the company has managed to acquire some funding, but the method it used to secure it is debatable.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]That, however, doesn’t seem to stop [[tagnumber 6]]CDNL[[tagnumber 7]] from climbing up the charts. We saw the ticker gain some 20.71% in value during yesterday’s trading, closing at $0.0169, while a total of 35.14 million shares changed their owners and generated $581 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The ticker is a bit hesitant today, but has managed to climb 5.92% as of the writing of this article. Still, you should do your due diligence and weigh out all the risks before putting any money on the line.[[tagnumber 2]]