Just got pump and dump mailer today from the infamous Scott Fraser: This company is very small, has few assets, and losing a lot of money:
FOX PETROLEUM INC.
(A Pre-exploration Stage Company)
INTERIM CONSOLIDATED BALANCE SHEETS
August 31, 2007 and February 28, 2007
(Stated in US Dollars)
(Unaudited)
August 31, February 28,
2007 2007
ASSETS
Current
Cash $ 568,978 $ 119,051
Cash - restricted 20,000 -
Prepaid expenses 299,239 -
888,217 119,051
Oil and Gas Interests – Notes 4 and 9 1,001,702 -
$ 1,889,919 $ 119,051
LIABILITIES
Current
Accounts payable and accrued liabilities – Note 5 $ 533,736 $ 40,467
Due to related party – Note 5 29,975 29,975
563,711 70,442
STOCKHOLDERS’ EQUITY
Capital stock – Notes 4 and 6
Authorized:
450,000,000 common shares, par value $0.001 per share
Issued and outstanding:
71,342,072 common shares (February 28, 2007: 49,300,000
common shares) 71,342 49,300
Additional paid-in capital 3,348,260 118,600
Share subscriptions – Note 6 950,000 -
Deficit accumulated during the pre-exploration stage (3,043,394 ) (119,291 )
1,326,208 48,609
$ 1,889,919 $ 119,051
SEE ACCOMPANYING NOTES
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FOX PETROLEUM INC.
(A Pre-exploration Stage Company)
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
for the three and six months ended August 31, 2007 and 2006 and
for the period November 4, 2004 (Date of Inception) to August 31, 2007
(Stated in US Dollars)
(Unaudited)
November 4,
2004 (Date of
Three months ended Six months ended Inception) to
August31, August 31 August 31,
2007 2006 2007 2006 2007
Revenue
Interest income $ 6,974 $ - $ 7,188 $ - $ 7,188
Expenses:
Accounting and audit fees 29,536 4,293 35,112 6,770 68,625
Advertising and public relations 755,463 - 763,775 - 763,775
Bank charges 2,363 47 3,045 67 3,683
Consulting fees – Note 5 24,000 - 39,000 - 39,000
Filing and transfer agent 1,318 643 2,018 1,205 8,126
Legal fees 42,307 - 53,758 - 81,882
Management fees – Note 5 36,000 1,500 72,000 3,000 96,000
Mineral property acquisition and
exploration costs 1,862,618 5,000 1,864,953 5,000 1,881,953
Office and miscellaneous – Note 5 27,415 750 49,957 2,695 59,865
Travel and entertainment 38,177 - 47,673 - 47,673
2,819,197 12,223 2,931,291 18,737 3,050,582
Net loss for the period $ (2,812,223 ) $ (12,223 ) $ (2,924,103 ) $ (18,737 ) $ (3,043,394 )
Basic and diluted loss per share $ (0.05 ) $ (0.00 ) $ (0.06 ) $ (0.00 )
AI
