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Wednesday, September 26, 2007 4:54:21 AM
Possibility 1
NWOG is a complete scam. Theres nothing, no oil, no assets and it's just one big fake company.
Pros:
We don't see any major progress on deals, don't have clear audits and everything feels very intransparent. NWOG issues new shares, maybe reverses shares on the other hand and nobody really can tell if this company really exists and opperates.
We've also seen reduced IR activity from their side during the last weeks/months. The news flow is drying.
Question to ask to clarify: How do we find out whether NWOG is a real company or just nothing?
Possible Answers: Only audited financial would help us here. We've already seen some, which looked quite good, but I guess we need more, also more frequent, figures to do some calculations and understand the companies fundamentals.
Maybe also some proper IR activities could rebuild trust.
Cons:
Management gives at least me the impression that they are progressing in a way which might not be fast and clear but at least too long winded to be a simple fake. Sometimes their actions just look too random to think they're fooling us on purpos. If somebody start a fake business they usually are well prepared and know how to fool people - i honestly think Maly is not smart enought to play the fake biz game.
Possibility 2
NWOG works as latest audits make us believe.
Pros:
They already released audited figures and those figures indicate a massive discrepancy between pps and the actual companies value - even at the time the audit was released.
There's some progress like increased oil extraction and plans to expand the business.
Cons:
The seen audit might be verified by some external entity but still nobody believes thoes figures as theres a leak of trust in general and some unanswered questions regarding the changes in assets during the periods etc.
Also, if NWOG should be real we should see a move up no matter if most market participants know about it or not. At this low levels every insider who's aware of the companies value would just grab ever single share he could get. Let's not forget that based on the last audit a plain fair value (without anything else) should be reflected by a pps of 0.07$.
Let me also point out that a simple R/S not changes anything but simply has a psychological effect. The companies value is reflected by the amount of shares. If the amount is changed the companies value stays the way it was but the pps increases by the same factor the number of shares was reduced. I know it's hard to focus on the plain mathematics here because it feels like you only own a hundredth of what you owned before - which clearly is wrong.
Those who believe nwog is a scam shouldn't worry as well cause a hundredth of a scam still is nothing.
I'm sorry for all the typos etc. ;)
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