There has already been multiple R/S's with this company. Which have regularly reduced the OS and leaving more OS to be increased and RS again. Has already happened several times with MXXH. These pinks issue shares all the time out for sale and get put into the market and not for any real business, just money made from issuing shares. R/S are never good for the sub-pinks and another RS for MXXH won't be any different.
There has been no financials in about five years after the last NT 10K where they said it was going to be late and that they would have Audited financials soon and subsequent statements after that to "future" auditing and proper finances. Of course here shareholders sit with nothing in that respect.
Now are the shares that Gouger got paid (probably convertibles and at a discount rate) going to be sold into the market to finally drill after all this time. Why didn't the the company disclose that instead of keeping the shareholders dragged along. Why haven't they disclosed any and all issuance of shares and other related important data that are supposed to be on their stated "coming soon" audited financials.
Real oil producing companies don't get put into these pink shells, lot of talk and PR's of course, but the odds are pretty much nill as history and stats of the pinks teaches us.
Even if they do drill the well, it will depend on oil flow, how much gunk, water, gas, or expense to get the oil will have to be determined. It will have records to all those facts if or when it does get done. There is only 25% "working interest" and a question will have to be asked how much debt and expense will go along with the shell.
Even if there is a million dollars worth of oil, if the expense and debt are 950,000 there nothing left for shareholders of the stock.
Now any stock can have a sudden surge for trading and I hope that all shareholders can get their investment back. Wish all the luck in the world to ones who can get some trades in if MXXH has any volume at all. But it doesn't look to good right now.
