Eric, you know that stop sign is just the filings not current. Another CEO said it would cost him $40,000 to file an audited 10k recently. He wants to put that money into production costs to get some money flow...then they can afford it.
As I see it, that's what the SIOR CEO Dan is doing. They're waiting on an available rig before they can get started and that could be any time but probably late this summer, based on what I've read on the board. It's Dan's rigs with his other company, but they're currently making money on other driller's projects.
In the meantime, longs are accumulating, buying the dips and holding. With low float it doesn't take much volume to move the price considerably, like a roller coaster all over the .01's, just enough volatility to work with. If you're talking about the recent price, all my stocks are down. Today is a sea of red with the market selloff.
If you aren't patient, I can understand but they're in a good position to profit big starting this year. There's people on the board who know pretty much about the CEO and they tend to trust Dan to carry thru with his production plans, even if we don't have the audited SEC filings for security.
That's my feelings on it, I'm not worried about it. There's some good DD in the stickies and IBOX but we're all taking a risk, who isn't in penny stocks? Where can you buy a producing oil stock with plans for expansion soon for just over a penny that has the SEC filings up to date? I may be naive so correct me if I'm wrong. I'm thinking that's the only reason SIOR is cheap, 'cause it hasn't satisfied that requirement, which would make the stock higher. Am I wrong?
GLTY
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