Santo Mining Corp (OTCMKTS:SANP) Kicks Up Dust

After becoming one of the uglier pump job crashes of 2012, Santo Mining Corp (OTCMKTS:SANP) went into deep hybernation for a long while, unable to break free from the chart’s absolute bottom levels. The trip from over a dollar per share to triple-zeroes is always painful but it seems there are those who are still willing to trade SANP stock, if Friday’s session was any indication.

On Friday the ticker shifted 213 million shares – its second largest volume for the past month, and closed 20% in the green, at $0.0006 per share. There is little indication of what could have caused this new swell in interest. The stock got a single drive-by pump email on Sep 17 but that was just a promoter trying to ride the price movement SANP was already charting, rather than a genuine pump.

Admittedly, even if pumpers wanted to get investors excited about SANP, they would have a very hard time doing it. SANP is a Pink No Info stock on OTC Markets, branded with the STOP sign. This is because the company last graced investors with a financial report back in early 2014, a year and a half ago. The numbers contained in that report were a real hair-raiser to boot:

• $42 thousand in cash
• $1.1 million in liabilities
• ZERO in revenues
• $727 thousand in quarterly net loss

Despite the lack of financial reports, the company did inform of a massive increase of authorized shares in mid-2014, going from 450 million to 5 BILLION. It seems like the company has been busy issuing boatloads of shares, as if racing to fill those billions worth of shares to max out the AS. A Schedule 13G dated October 1, 2015 shows 110 million common shares represent 9.08% of the company’s total outstanding stock. That would mean as of that date SANP had upward of 1.2 billion common shares issued and outstanding.

The company is now allegedly conducting business by selling cigars in China. The website devoted to this venture belongs to Cathay Cigars – the entity that executed a share exchange with SANP back in April – sadly has a non-interactive, inoperable Store section.

It’s hard to tell whether traders are just looking to squeeze a quick buck out of SANP or are genuinely interested in the stock. At any rate, its lack of filings and considerable dilution can serve as red flags for those who like to play it safe.