I just can't get enough of these penny stock mailers. Early in 2011, the Carpenter Global Stock Advisory sent me something touting Imperial Resources (IPRC). It's another Texas oil and gas play. Man, those things just don't quit, do they? There's always another country gentleman with a derrick coming out of the sagebrush down there.
Okay, enough with the stupid humor already. You can guess what I'm going to mention first if you follow my posts on stuff like this. Three years of negative net income, retained earnings, and free cash flow. I'm starting to wonder what these kinds of companies do with the money they raise. I even wonder what they do with their time. Do they spend this money and time on one purchase and sale agreement after another or do they actually drill for oil? That comes as no surprise from a management team consisting of lawyer-financial types, with only one petroleum engineer anywhere in sight.
If you bought this stock in March 2011 when it debuted at $0.75, you watched it seesaw for a couple of months until it eventually settled to about a dime per share today. Nice work.
Full disclosure: No position in IPRC, ever.
Okay, enough with the stupid humor already. You can guess what I'm going to mention first if you follow my posts on stuff like this. Three years of negative net income, retained earnings, and free cash flow. I'm starting to wonder what these kinds of companies do with the money they raise. I even wonder what they do with their time. Do they spend this money and time on one purchase and sale agreement after another or do they actually drill for oil? That comes as no surprise from a management team consisting of lawyer-financial types, with only one petroleum engineer anywhere in sight.
If you bought this stock in March 2011 when it debuted at $0.75, you watched it seesaw for a couple of months until it eventually settled to about a dime per share today. Nice work.
Full disclosure: No position in IPRC, ever.
