Baron Energy Inc. (OTC:BROE) started the heavy trade. After a few positive price changes over the last days, yesterday, BROE BROE_chart.pngmanaged to trade over 1 million shares on the market and added additional 6.60% to its price.

Following the records, we can see that the stock has been regularly promoted over the last month, and the last two promotions date from yesterday. Apparently, that’s the most reasonable explanation for the high trading activity, apart from the latest news on the company.

On Wednesday, Baron announced that its President and CEO, Ronnie L. Steinocher, has acquired over 420 thousand shares of the stock in a private transaction. Just a couple of days before the announcement was released, the company reported it has completed Phase 2 of its production enhancement program and was ready to start the next phase in October, this year.[BANNER]

Baron_Energy.jpgAfter publishing the positive news, BROE immediately provoked the investors and started to gain. However, it looks like the company decided to double ensure its stock and paid to get promoted.

Baron Energy, Inc. is an independent oil and gas exploration, exploitation and development company headquartered in Midland, Texas. Historically, BROE has traded higher, though, over the last months the stock price has moved down.

Due to the increase in oil and gas prices, Baron reported higher quarterly revenues this year. However, its general and administrative expenses have increased significantly as well. As of 30 April, the company had cash of approximately $66 thousand, negative working capital of over $4 million and an  accumulated deficit higher than $5 million.

According to Baron’s financial report, “There can be no assurances that the Company can achieve or sustain profitability or that the Company’s operating losses will not increase in the future”, and “These factors raise substantial doubt regarding Baron’s ability to continue as a going concern”.