Investors Grow Tired of Virtus Oil and Gas Corp. (OTCBB:VOIL) f/k/a/ Curry Gold Corp’s Pump

Out of the last 12 trading sessions the stock of Virtus Oil and Gas Corp. (OTCBB:VOIL) f/k/a Curry Gold Corp has managed to close in the green only 3 times and the gains weren’t particularly impressive – 1.24% on November 14, 2.82% on November 20 and 1.37% on November 21. On the other hand the negative momentum is only getting stronger and the losses have been getting bigger. On Friday the stock wiped exactly 10% of its value and closed at $1.08 per share.

It seems that after nearly 5 months the paid pump for VOIL is no longer having such an influence over investors. And indeed despite the depressing chart performance the promotion seems to be far from over with the landing page created by the Moskowitz report still active while on twitter investors are still reporting about the hard mailer.

In our articles we warned you that the artificial hype cannot boost the stock forever and at the moment VOIL are down by over 50% compared to the pump high of $2.24. Even after such devastating slide the stock is still grossly over-inflated. At the moment the company has a market cap of $53 million while their latest quarterly report revealed the following financials:

• $25 596 cash and total current assets!!!
• $82 thousand total current liabilities
• ZERO revenue
• $531 thousand net loss

In the past insiders of the company bought 1.3 million shares for just $13 000. After the 14-for-1 forward split these shares turned into more than 18 million. The Marshall Islands entity Fieldstone Industries, Inc. also owns millions of shares purchased at a significant discount. If these people still hold some of the cheap shares the pump might continue for a while longer.

If the promotion is indeed losing its effectiveness the stock could see even harsher corrections. In early trading today VOIL is still sliding down currently sitting 5.5% in the red at $1.02.