Is Sono Resources Inc (OTC:SRCI) ready to jump up? Seems like it is. Besides, the stock has prepared for the 
climb.
Yesterday, SRCI closed the day with a 1.28% loss on a decreasing traded volume, however, today things might look different, as Sono Res. made hard efforts to change them.
Having taken the way down, yesterday the company decided to get self-promoted for a compensation of $35.000. Along with the campaign, Sono reported a piece of positive news, in order to pump up its stock price additionally.
According to the announcement, on Monday the company has completed the acquisition from Tignish of 95% of the issued and outstanding shares of Bonnyridge, which is the legal and beneficial owner of three mineral license blocks located in Africa.
Pursuant to the agreement, Tignish has sold, and the company has purchased, the purchased shares for an initial cash payment of $200,000, a further cash payment of $100,000; and 6,500,000 restricted common shares of the company. Also, Sono intends to file the financial statements required by October 7, this year.
The news for the shell company transaction might certainly be capable of pushing up SRCI stock price, though the final payment is yet to be made.[BANNER]
Sono Res. begins it operations in 2011 with the option to acquire 95% interest and operational control of a series of licenses in the world-class mining district being established in Botswana, Africa. However, the company’s financial condition doesn’t seem reliable at all.
First, as a new-established company, SRCI has no revenues yet and its quarterly report is full of losses and liabilities. At the same time, as of Feb 28, the company’s accumulated deficit during the exploration stage has exceeded $8 million.
Presently, Sono is hopeful about its new agreement, however, the final transaction hasn’t been made yet, while the company is out of cash. Thus, its ability to continue as a going concern is dependent on raising capital to fund its initial business plan and ultimately to attain profitable operations.
