Lithium Exploration Group, Inc. (OTCMKTS:LEXG) Attempting A Recovery

[[tagnumber 0]][[tagnumber 1]]The last couple of months went badly for Lithium Exploration Group, Inc. (OTCMKTS:LEXG) as the company slid below the 1 cent per share barrier and into the double zeros, while volumes were increasing as investors are trying to get out.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The regular press releases that the company is making aren’t doing much of a splash either. We see it climb for a few days, then decline further down the charts, despite the optimism coming from the news. And it can’t be any other way considering that these are the numbers of prime interest contained in the balance sheet of the latest annual report from [[tagnumber 6]]LEXG[[tagnumber 7]], which covers the period ended June 30.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $69,732[[tagnumber 13]] [[tagnumber 12]]current assets: $138,013[[tagnumber 13]] [[tagnumber 12]]current liabilities: $3.41 million[[tagnumber 13]] [[tagnumber 12]]annual revenues: $35,285[[tagnumber 13]] [[tagnumber 12]]net loss: $7.7 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The funny thing is that from time to time investors are actually buying into what the press releases are saying and disregarding the fundamentals of [[tagnumber 6]]LEXG [[tagnumber 7]]and its history. A perfect example of that is the run that was started after it was announced that [[tagnumber 6]]LEXG [[tagnumber 7]]CEO, Alexander Walsh has purchased 2.5 million shares of common stock in the open market on October 23.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The whole idea of the PR was synthesized in the statement that Mr. Walsh made, quote “[[tagnumber 34]]I decided to make my own purchase of [[tagnumber 6]]LEXG [[tagnumber 7]]stock to show that I back my statements with action[[tagnumber 37]]”. It is kind of hypocritical to make such statements when you awarded yourself 25  million shares of your own company’s common stock back in 2011 and could potentially earn more than 8 times the compensation of the CEO of [[tagnumber 6]]Goldman Sachs[[tagnumber 7]] in that year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, the company stock returned to its downward course and sunk even lower by the end of October. It did try to make a recovery, but today’s session didn’t exactly start on the right foot for [[tagnumber 6]]LEXG[[tagnumber 7]], despite yesterday’s PR. In any case, due diligence is paramount.[[tagnumber 2]]