Miller Energy Resources Inc (OTCMKTS:MILL) Crashes Horribly

[[tagnumber 0]][[tagnumber 1]]In the beginning of last week the stock of Miller Energy Resources Inc (OTCMKTS:MILL) was being traded over at the New York Stock Exchange (NYSE), but as the weekend came knocking on the door we saw that change and it didn’t have a positive effect on the ticker’s price.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This is not the only delisting of an entity from the NYSE that we have seen lately. Back in the middle of July we saw Alpha Natural Resources, Inc. (OTCMKTS:ANRZ) step down and begin trading in the OTC markets. Just like [[tagnumber 6]]ANRZ, MILL’s[[tagnumber 7]] latest available financials look pretty good for a company whose stock is traded on the OTC marketplace. Here are just some of the numbers contained in the report for the quarterly period ended January 31, 2015.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $2.23 million[[tagnumber 13]] [[tagnumber 12]]current assets: $119.98 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $109.14 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $20.27 million[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $152.26 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Sure, the net loss is quite huge, but [[tagnumber 6]]MILL[[tagnumber 7]] is still generating some impressive revenues. As the company announced in Thursday that their stock will probably be delisted from the NYSE before the weekend we saw the ticker drop 16.48%. In Friday, as [[tagnumber 6]]MILL[[tagnumber 7]] began trading on the OTC markets, the company stock lost another 58.23% of its value and closed at $0.105 while a total of 1.86 million shares were traded and generated $302 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]But here comes the interesting part. After this latest drop the company stock sat at a market cap of $4.89 million. This just shows how undervalued [[tagnumber 6]]MILL[[tagnumber 7]] is and puts the ticker in a position similar to that of [[tagnumber 6]]ANRZ[[tagnumber 7]] whose stock is currently valued at around $3.2 million.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, there is something that might help MILL gain some height. Back on July 14 the company filed an NT 10–K which allowed them to extend the period in which they had to file their annual report by 15 days. This period has ended and we expect to see [[tagnumber 6]]MILL’s[[tagnumber 7]] 10–K in a matter of days.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Considering all this you should also be sure to do your own due diligence and evaluate the risks in order to set a timeline for your trades.[[tagnumber 2]]