Pump Yields Results For Duma Energy Corp. (OTCBB:DUMA)
During Friday’s market Duma Energy Corp. (OTCBB:DUMA) continued its positive movement this time with the added support of the pump emails. At closing time the ticker had gained another 11% – not as impressive as the percentages posted by some other penny stock companies but DUMA isn’t your average pennystock.
They have been fluctuating around the $2 mark for more than a year and the 11% increase translates to $0.27 added in just a single day elevating them to $2.7. The stock has also been attracting a lot of attention from investors resulting in the record number of 500 thousand traded shares.
The nearly 10 new alerts churned out by Stock Appeal, llc. through its affiliates StockHunter, LiquidPennies and HeroStocks must have done their part in raising awareness. On Friday TooNiceStocks, who disclosed a $350 000 compensation for a month-long promotion decided to remain silent but that won’t last long. All of the pumpers touted Duma’s financial fundamentals as the main reason setting them apart from the crowd and according to their latest 10-Q report for the period ending January 31 they had :
- $790 thousand cash
- $1.7 million total current assets
- $5 million total current liabilities
- $1.6 million revenue
- $481 thousand net loss
The company is keeping their debt at manageable levels and are conducting rela business operations through the sale of oil and gas, something many other are only hoping to do. When you add the formal application to be listed on NASDAQ, the outlook becomes even more promising.
Which doesn’t mean there aren’t some concerns regarding DUMA with the biggest one being the recent acquisition of Namibia Exploration, Inc. (NEI). This company was directly and indirectly owned by the CEO of DUMA, his brother-in-law, and his father-in-law. According to the terms of deal they may receive up to 22.4 shares or $37 million in the next 10 years.
Back in late-February TooNiceStocks received $130 000 to promote Brookfield Resources, Inc. (OTCMKTS:BFLD). The ticker crashed hard on the first day and began sliding down towards double zeros. Just recently it has shown some signs of revival after more than a month of no active trading.DUMA have a stable foundation and a prolonged upwards run is not unlikely but the pump campaign and the volatility exhibited at times represent major risks for investors.
