Gray Fox Petroleum Corp. (OTCBB:GFOX) Climbs Higher
In the months after the end of the paid pump the stock of Gray Fox Petroleum Corp. (OTCBB:GFOX) crashed horribly dropping from a high of $2.7 to a record low of $0.452 on May 7. But now investors are once again returning to the company and last week it recovered even more of its lost positions. On Friday GFOX climbed by close to 10% and added 11 cents to its price ending the week at $1.26. Currently their market cap is standing at $45 million but is that number even remotely connected with the reality of the company?
Unfortunately, the answer is no. GFOX should file its annual report in a couple of weeks but until then we have to rely on the financial report for the quarter ending December 31. In this report the company describes itself as a shell with the following financials:
- $29 thousand cash
- $41 thousand total current assets
- $23 thousand total current liabilities
- ZERO revenues
- $209 thousand net loss
With financials such as these it should be apparent that the only reason GFOX managed to surge up the chart a few months ago was the paid pump and this time it is exactly the same.
The start of the previous promotion was marked with the creation of a landing page featuring Tobin Smith, a former Fox News contributor who was fired after the company found out his was involved in pennystock pumps. And although this first landing page still stands the people behind the campaign decided to hire Mr. Smith once more and a second page was launched a few weeks ago. If you compare the two you will see that the short-term goal set by Mr. Smith has been significantly lowered – from $6 to just $2.25. At the same time nothing around the state of the company has changed.
In our previous articles covering GFOX we warned you that there are more than 16 million free-trading shares that were sold for just $0.00125 (after the 8-for-1 forward split). The people who bought them might still own a significant amount and might be behind this second attempt to pump the company.
Prior to any investment in the company it is important to realize that GFOX is nothing more than a pump play. Do your own 
due diligence and plan your position accordingly in order to avoid any unnecessary losses.
due diligence and plan your position accordingly in order to avoid any unnecessary losses. 