That page is wrong, ICH. This is just an empty shell. It is nothing. It is very boring here. This is jsut something I have on the shelf to see what happens. I have over 30,000 shares of it. If something ever happens, I could have thousands in profit instantly. Somebody, some day, will come along and buy this empty shell and turn it into something. That is the hope. It's just a few hundred sitting in a non-liquid state as I see it.
I suspect that "Operation Shell Shock" makes it a lot harder to do things with these empty shells. The SEC is cracking down harder than ever to bring some respectability to the stock exchange and put the scammers out of business. And rightly so.
If you want an exciting penny stock, I would look for a real company that has fallen on tough times from a legitimate stock exchange. If you want excitement, Sandridge Energy is a penny stock that is exciting to me. It is a Contrarian play if you have the stomach for it. I bought it yesterday for $1.11. It's a real energy company with analyst coverage; albeit sell-side coverage and sour shareholder sentiment. It has fallen like a Rock on Jupiter. But it has liquidity, trades millions of shares a day.
It's operational side of the business is fantastic. But oil prices and it's high leverage are making its future bleak. I think they will survive. I'm betting on it. They have lots of liquidity and no loan convenents due in full until 2012. They can suvive the year 2015 just fine. They just need oil prices to go back up. I am betting that they will, but my fate is in the hands of Saudi Arabia. I suspect they just want to crush the Iranian and Russian economies with little regard to anyone else.
I also think they are going to make a merger with somebody. Something unexpected that will improve their cash flow. No matter hapopens, that is interesting. This is watching paint dry. Or worse. Dried paint. This is just a come back and look every now then.
SD is exciting if you want excitment and risk and potential huge upside. But you need the stomach for it. And you need to be able to handle the losses if they can't navigate the storm. And if they go bankrupt, you won't lose your money because you got scammed. But good operators can avoid bankruptcy for a long time. And these guys are good operators and legit. They just need a break in oil prices. Liquidity is their number one priority, and they have lots of wiggle room.
But, yeah, over here I haven't seen any sign of life since late December. No filing, no nothing. Can't find anything in regard to Heritage Financial.
