NWOG… I was about to start with “this is the worst managed company I’ve ever owned” but then looked at this year’s trades, and… I can’t do this: CWRN, CKYS… to mention a few, not Russian - they are "proud to be American", but have not done any better. If you check posters’ profiles, you will see that for many angry and disappointed people NWOG is their only Pink Sheets experience. Like if they accidentally clicked a wrong button and bought this stock instead of IBM or Bank of America. This is a pinky after all! It happens in Pinky World, and very often. Not that I expected this kind of performance from NWOG (otherwise I would just started looking for the entry), but I hate to be a part of management’s learning experience and pay for their lessons from my pocket. This basically sums up my current opinion: if I had to look for signs of manipulations here (I would if I had time), I would check a track record of Jewett, Schwartz, Wolfe & Associates… They may shorted NWOG already, or maybe selling shares that NWOG could pay for the service… they are the ones who are fully equipped to take full advantage of this RS situation.
1. I believe RS notification is for real. Something probably went wrong with “effective date” in that pdf.
2. After RS we will have a stock with ~9 mln AS, and ~2 mln float. The company controls 60-70% of outstanding shares. With this low free shares ratio, it’s easy for them to move the price in any direction. Hopefully, they will want to move it up… but maybe Jewett needs to cover short position first… It’s just speculation, but I already hate our new accountant with no reason. :)
3. Whatever you do tomorrow, you are going to regret it. If you sell, it will be ten minutes before they release some news (“report”, “SNGF acquisition”, etc.) that will justify much higher valuation. If you hold, PPS may slip below 2 cents (or 2 dollars)… I have no clue what the best trading tactics would be. I am riding whatever left, and would like to have clearer picture before I start trading NWOG again.
IMO.
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