Viking Minerals, Inc. (OTCBB:VKML) – Same Old, Same Old

Apparently Viking Minerals, Inc (OTCBB:VKML) thought that enough time has passed and investors have forgotten about them thus they may try to do their old routine once again. Last Friday they released a new announcement and a round of alert emails were sent in order to convince investors that VKML is a good choice for their money. And for a while it seemed as though it is working as the ticker opened at $0.023 but in the end dropped down and closed at $0.021 still making a 10% increase compared to the previous close.

The company has a long list of past promotions with the earliest from July 18, 2011 and the current one being the 8th attempt since then. This time PennyStockCrowd received $10 000 as compensation for their efforts. In addition to the paid awareness campaigns VKML are just churning out bombastic news after bombastic news regarding new acquisitions citing billions in potential revenues without ever having the intention of actually closing the deals. It would be pointless to list each and every one of their failed attempts to achieve profitability so let’s concentrate on one of them.

On July 16 they filed an 8-k form for the acquisition of five past-producing gold mines for $15 million. VKML had to pay the first installment of $6.1 million before March 31. Curiously enough they haven’t even mentioned this deal since then so it is quite obvious what the ultimate outcome has been. If you take a look at their financial reports you might wonder why are they even bothering to mention such sums because according to the quarterly report for the period ending December 31 they had:

• zero assets
• zero cash
• zero revenues since inception
• $66 thousand total liabilities
• $324 thousand net loss

The picture gets even grimmer when you add the net loss of $30 million for the 9 months prior. Even worse for investors is the ongoing dilution of the stock. Back in July 2012 the ticker underwent a 1-for-1000 reverse split boosting the price per share up to $1.50. But wouldn’t you know it just 5 days later 131 million fresh shares were issued for yet another acquisition that yet again failed. Not to mention that the company has been so busy making obscure PR announcements that they have all but abandoned their offcial website that still proudly displays VKML activities from 2011.

The last pump for them was from January this year. The ticker made an impressive one day run just to crash hard on the next destroying the hopes of many investors. There is nothing making VKML appealing. Experienced traders may try to play the pump but otherwise it is best to stay clear from the stock.