Hot Shot Stocks are Trying to Resuscitate EGPI FIRECREEK INC (PINK:EFIR)

Next time you stop at the pumps to fill up with fuel, spare a thought for the hundreds of entrepreneurs who decided to quit their day jobs and start companies that will drill oil and natural gas out of the ground and will some day have a huge chain of gas stations and billions of dollars of revenue. As you probably know, most of the enterprises never made it and, we thought, EGPI FIRECREEK INC (PINK:EFIR) was one of them. It now seems that Hot Shot Stock are attempting to bring them back from the dead, and in their most recent email, they are explaining how good EFIR‘s 2013 will be.

We saw EGPI Firecreek’s chart and were immediately doubtful about this. After all, they have been anchored to the $0.0001 per share mark for more than six months now. Nevertheless, we decided to see if there is even a grain of hope for them. It didn’t take us long to find out that there wasn’t. The company has been digging a huge financial hole from the very beginning and now, the abyss is so deep that they will need years to get themselves out, not to mention turning any profit. You can see the numbers for yourselves:

• cash: $29
• current assets: $306
• oil and natural gas properties estimated at $1.8 million
• current liabilities: $6.4 million
• no revenue for the last 9 months
• net loss for the last 9 months: $4.4 million

These figures alone are enough to put most investors off, but there are some people that might be feeling a bit more adventurous and are more prone to taking risks. The question is, “Is it really worth it?”. The answer is “No”. Here’s why.

Back in 2008 EFIR had some interests in oil fields in Texas and Wyoming. They were, however, foreclosed by EGPI’s main creditor, because they were unable to pay off their debt. What is to stop this from happening again?

If history is to be believed, nothing. Over the years the list of lawsuits against EFIR is so long that it could make some ghetto thugs look like angels. The list of loans they have to pay off is just as lengthy and, looking at the financial statement we are struggling to see how they are going to redeem them.

If you are still not convinced, and you are ready to trust at least some of Hot Shot Stocks’ claims, you might want to take a look at some of the companies that they have promoted in the past. Safecode Drug Technologies Corp (OTC:SAFC) is a prime example and the email dated November 12 said how bright the future was for SAFC. Today’s chart, shows how full of hot air these words were.

We don’t know whether it is poor management or something else that dragged EFIR under, but they should have taken notice of the downfall and just leave it there. They failed to do that, and we hope that you don’t make the same mistake. This paid promotion has all the characteristics of a pump job, and it’s essential to do your diligent research before investing any money.