Virtus Oil and Gas Corp. f/k/a Curry Gold Corp. (OTCBB:VOIL) Struggling With The Market
Relentless pumping has brought Virtus Oil and Gas Corp. f/k/a Curry Gold Corp. (OTCBB:VOIL) many ups and downs in the last couple of months. Now it looks like the company just entered another shaky period, losing 9.84% of its market value in yesterday’s session and gaining about 5% in early trading today.
It is well known that pumped stocks carry the greatest risk of all the companies on the OTC Markets, but in spite of this VOIL has been quite popular with investors. Aggressive online promotions, paper mailers, reassuring PR and even telephone calls have pushed VOIL stock prices up on multiple occasions giving investors optimism, where there isn’t really cause for any.
But what’s so grim about VOIL‘s situation? Well, its SEC filings are a good place to look for the first clues to the answer to that question. As of the end of Q2 2014, the company had:
- Cash – $25 thousand
- Current liabilities – $82,220
- ZERO REVENUES
- Net loss – $531 thousand
What’s worse is the fact that said report gave more bad news than just the sad numbers contained in VOIL‘s balance sheets. It clearly stated that the drilling process that was supposed to start before February 2015 has been postponed to around September 2015, which means that VOIL is still a long way away from beginning operations and an even longer way away from turning profitable.
So let’s do a recap on VOIL‘s situation. Terrible financial sheets? Check. No sign of the company moving forward any time soon? Check. Pumps? Triple check. With this in mind, there’s only one thing left to say – let the buyer beware.
