The Pump for Tiger Oil and Energy, Inc. (OTCMKTS:TGRO) Struggles
The stock of Tiger Oil and Energy, Inc. (OTCMKTS:TGRO) barely managed to avoid a second day of losses. Right from the start of the session it dropped below the opening price of $0.49 and stayed there for most of the day. With only half an hour before closing time the ticker finally rushed upwards to reach $0.53. Although the 3 million traded shares are still quite significant they are a drastic drop from the 9 million traded on Tuesday or the 12 million from Monday.
The shaky performance came despite another email alert from StockTips and a PR article form the company themselves. Actually StockTips released two emails – one early in the morning and one after the end of the session. They didn’t contain any new information but the newsletter promised to send another reminder early today. With a total production budget of $2.5 million for the promotion we expect a lot more touts for TGRO to come in the future. Well, that is if the the SEC doesn’t outright suspend the company which seems to be the fate of most big-budget promotions in the past few months.
Even without the ongoing pump TGRO would be surrounded by red flags due to the management of the company. As we said in our previous articles the CEO Mr. Ken Liebscher is well known among pennystock traders. Just take a more detailed look at the history of National Graphite Corp.(OTCMKTS:NGRC) and Northumberland Resources Inc (OTCMKTS:NHUR) to see what the usual fate of those companies was.
On their own TGRO have absolutely dismal financials with less then $2000 in total assets at the end of September 30. And unfortunately for the company due to the heavy weather conditions the amount they had to pay for the first oil well in Cowley County, Kansas increased to $189 thousand. It seems that Cowley County is quite famous among pennistocks because another company is currently planning operations in there. Formcap Corp. (OTCMKTS:FRMC) have equally as depressing financials but they have managed to hype up their stock to prices of $1.34 per share which leaves them with a lot of room to fall when they start correcting.
