This time, it was 20% for Earth Dragon Resources Inc.(OTC:EARH). No news, no promotions, no press releases, no SEC filings, yet more than 2 million shares exchanging hands, pushing the stock price lower and lower. Not unusual for Earth Dragon, considering the last half an year. 
So, as mentioned, decline again, Monday session closing at $0.02 per share. Just 3 months ago, it was $0.12 per share; just 6 months ago it was $0.26 per share. Let alone, the figures last December go as high as $1.28 per share. Truly heavy crash for this stock. What is more, there has been nothing coming out for EARH recently that might be considered as a possible catalyst for a reverse of this negative trend. The last press release from “the Dragon” dates back from May. In terms, the discussions over the short- and long-term future of the company in financial forums also started to fade since then. Most important, there are no promotions these days. Not like the first quarter of 2011.
Back then, newsletters were coming all the time, paid with thousands of dollars, making up for trading frenzies in many sessions. Apparently, the post-effect was not what shareholders might have hoped for. On a related subject, neither are the financial results. The 10-Q, for example, covering a period with an end-date Feb. 28th, 2011 reveals the following: [BANNER]
- $40k in cash;
- $56k in total current assets;
- $353k in total current liabilities;
- $424k in accumulated deficit;
- $no revenues;
- $257k in net loss;
So, still no revenues, mounting liabilities and $40k in cash to sustain operations. Not the most inspirational balance sheet out there. In terms, if no revenues appear on paper soon, it is a question of high uncertainty whether $0.02 per share is the bottom, or just a middle point of the path down the hill.
