A goal-oriented exploration and production company aiming to become an intermediate level oil and gas producer within 12 months, American Petro-Hunter (AAPH.OB) has been recently put on the stock promoters list. It was announced that the company paid $6,500 to different parties for stock promotional services. Thus I would like to take a closer look at the performance of AAPH.
Although American Petro-Hunter announced about its intentions to acquire 25% of working interest in the Poston Prospect, Kansas, it does not look like a legible information because of several reasons. First, the company tends to file their annual and quarterly behind time. This signals that the company has some problems with their numbers. Second, AAPH isn‘t able to cover all its liabilities. Third, there is an operating loss of $44,000. Besides, the assets of the company has fallen 4.5 times in a single year.
All in all, the unattractiveness of the company depends not only on the paid promotions but on the unstable financial situation as well.