CNRR - .02 x .044 Cheap at this level. Here's why
Market cap $2.2 million at .04. Still have over .08 per share in cash/liquid investments and no debt to speak of. Made a callable at any time investment that generated over $30,000 in interest income in the last quarter. With that investment and their one remaining oil well interest they're not losing money while we wait for this:
"CN Resources Inc. is an independent energy company engaged in the exploration, development, production, and sale of crude oil. Our operations are conducted through a 100% wholly owned Ontario Corporation (also named CN Resources Inc.) which owns a producing joint venture oil well in the Redwater area in Alberta, Canada. The Company’s immediate core strategy is to create and enhance shareholder value by acquiring sustainable business with stable cash flow. The Company will not acquire any business in early stage of development."
"At February 28, 2017, we have cash and cash equivalents on hand of $2,883,145 (May 31, 2016 - $4,980,735), oil revenue receivable of $26,089 (May 31, 2016 - $26,351). We have short-term investment of $2,037,960 (May 31, 2016 - $ nil). We have accounts payable of $1,416 (May 31, 2016 – $7,448) and we have no other material debts to anyone."
They have no convertible debt or preferred stock outstanding
A/S 100,000,000
O/S 56,100,000
86.45% insider held as of the last 10k
My posts are my opinion. Do not be influenced by anything you read on any message board website unless you can confirm it.
