Tuesday, October 11, 2011 5:11:30 PM
RYPE and CAGZW - WTH?????
What happened with these two companies today really makes you scratch your head.
Cullen Agricultural Holding Corp (CAGZW) is a fully reporting company trading on the OTCQB.
According to the last 10Q CAGZW only had an outstanding share count of 19,630,714 as of August 12, 2011.
Since August 12, 2011 there has only been 3 days with trading volume.
http://ih.advfn.com/p.php?pid=historical&symbol=CAGZW
On August 29, 2011, 129,100 shares traded taking the price down from $.0029 to $.0022.
On September 6, 2011, 43,244 shares traded first taking the price down to $.0018/share before taking it back up to $.0022/share for the close.
On October 4, 2011, 2,000 shares traded taking the price down from $.0022 to $.002
Then suddenly today 1,820,000 in volume taking the price of this fully reporting company down 90% to $.0002/share.
Royalite Petroleum Co., Inc. (RYPE) was an SEC reporting company through March of 2009 then they stopped doing SEC filings over the past 2 1/2 years.
Today at 2:56 pm RYPE filed a Form 15 announcing that it was going dark.
The person that signed the Form 15 was Norris R. Harris who has been the CEO of the RYPE since Royallite Petroleum Co., Inc acquired May Petroleum, Inc's assets in April of 2008.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=5850699
Apparently a company going dark and choosing to hide material information from its shareholders is good news. Starting at 2:56 pm the stock shot up in price.
RYPE hasn't filed its last 3 annual reports with the Nevada SOS and is now a revoked business entity. The Resident Agent for the entity resigned in August of 2010.
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=0nUweR6L4qJ%252fNTsGKOATDQ%253d%253d&nt7=0
OTC has this warning slapped on the RYPE company information page:
I guess when a company has been silent for over 30 months just seeing any filing is better than nothing.
Kind of makes you wonder if the Form 15 filed today wasn't a forgery.
What happened with these two companies today really makes you scratch your head.
Cullen Agricultural Holding Corp (CAGZW) is a fully reporting company trading on the OTCQB.
According to the last 10Q CAGZW only had an outstanding share count of 19,630,714 as of August 12, 2011.
Since August 12, 2011 there has only been 3 days with trading volume.
http://ih.advfn.com/p.php?pid=historical&symbol=CAGZW
On August 29, 2011, 129,100 shares traded taking the price down from $.0029 to $.0022.
On September 6, 2011, 43,244 shares traded first taking the price down to $.0018/share before taking it back up to $.0022/share for the close.
On October 4, 2011, 2,000 shares traded taking the price down from $.0022 to $.002
Then suddenly today 1,820,000 in volume taking the price of this fully reporting company down 90% to $.0002/share.
Royalite Petroleum Co., Inc. (RYPE) was an SEC reporting company through March of 2009 then they stopped doing SEC filings over the past 2 1/2 years.
Today at 2:56 pm RYPE filed a Form 15 announcing that it was going dark.
The person that signed the Form 15 was Norris R. Harris who has been the CEO of the RYPE since Royallite Petroleum Co., Inc acquired May Petroleum, Inc's assets in April of 2008.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=5850699
Apparently a company going dark and choosing to hide material information from its shareholders is good news. Starting at 2:56 pm the stock shot up in price.
RYPE hasn't filed its last 3 annual reports with the Nevada SOS and is now a revoked business entity. The Resident Agent for the entity resigned in August of 2010.
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=0nUweR6L4qJ%252fNTsGKOATDQ%253d%253d&nt7=0
OTC has this warning slapped on the RYPE company information page:
I guess when a company has been silent for over 30 months just seeing any filing is better than nothing.
Kind of makes you wonder if the Form 15 filed today wasn't a forgery.
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
