Midwest Oil and Gas Inc. (OTCMKTS:MWOG) Gains Even More Ground
Аnother paid pump e-mail touting Midwest Oil and Gas Inc. (OTCMKTS:MWOG) hit inboxes yesterday pushing the ticker above the half-dollar mark – which is an impressive achievement indeed, as things stand.
The fact that MWOG‘s pump has not failed yet is something of a miracle in and of itself. Then again, the investors playing MWOG don’t have to worry about one of the biggest and most pernicious threats that bring the downfall of most tickers targeting OTC Makets penny stocks – toxic funding.
As we all know, issuance of cheap shares is one of the biggest banes of investor value on the OTC Markets, and MWOG seems to have left that behind it. However, its investors would do well to remain on their toes, rather than growing complacent, as the company’s past is not entirely clear of toxic dilution.
As we have mentioned when we have previously covered the company, back in 2014, MWOG paid for an acquisition with 15 MILLION shares of its common stock. The price at which said stock was issued was approximately $0.2.
That’s not very reassuring – but then again, neither is almost anything the company has done to date. Its latest financial report looked positively horrifying:
- Total current assets – $0
- Total current liabilities – $1.2 million
- NO REVENUES EVER
- Loss for the period – $235 thousand
So what should investors take away from all of this? Pumpers have once more made an OTC Markets company that literally has next to nothing but debt to its name appear like the best thing since sliced bread. How long can thy keep MWOG afloat? only time will tell.
