OTOH:
1. Insiders bought more than 2 mln shares this year, and they paid much more than current price. They have done several private placements @ 0.07, and issued options exercisable @ 0.25 and higher.
2. PPS is testing 52-week low, and seems holding support.
3. Market cap is about $4 mln now, which seems to be very low. They have many perspective assets.
4. They did suspend operations on the Paradise Unit 2-12 well due to "paraffin issue". But they did find oil and the question is how to make it go out. :) After current engineering analysis they may find appropriate chemicals to be used for oil extraction. Many companies in US and Canada successfully produce heavy oil... This could be expensive though... and EMPR would need more cash. They can sell some assets (like they did before), they are looking for merger and acquisition partners (from last 10-Q).
5. There was a suspicious spike in volume and price on Nov-23: almost half million shares traded, which caused PPS to double to 0.09. There were no penny-letter recommendations, no iHub momo attack,... Looks like insider buying to me...
So, it seems to me insiders are very interested to increase PPS and market capitalization. Any announcement that technical "flow problem" is resolved, or they are negotiating merger/acquisition/JV, and price will double in a minute. I bought some shares @0.05 these couple of days to see what happens next.
Recent EMPR News
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