While Green Oasis Environmental, Inc. (PINK:GRNO) is still searching for the most popular among day traders business model, their stock had found its new 52-week peak a couple of days ago. But yesterday, it looked like the climbing down has began, at least if no promoters receive their compensation soon.The stock dropped down 14.71% to $0.58 on a still above the average volume of 364,000, but the unbelievable $3.8 million market cap cannot be anything else than some capitalized investor dreams.
The glorious rise of GRNO started at the beginning of March. At that time, one stock promoter received 200,000 free trading shares, another one got another 150,000. The positive thing is that we do not know if they already dumped them as the plan was, or further rises are to come. Considering the volumes however, and also the fact that GRNO appears to be shorters’ favorite as well, we could have supposed yes.
More recently, GRNO appeared on this Monday’s watch list of a stock newsletter, which also enlightened investors about the company’s not clearly defined art of business. As there were some discrepancies with the latest PR by the company and with the management’s visions though, we are not sure if we remain in the popular oil and gas industry.
A 10-K form has been filed with the SEC in the middle of June, but it looked kind of empty. The only position that contains something on Green Oasis’ balance sheet is the one for stockholders equity, which consists of $7,500 in preferred stock, $64,651 in common stock and $72,151 in deficiency. The statements of operations and of cash flows are even more manageable: they contain namely nothing.
The informative report says also that “the Company was moribund from 1998 to 2009 and only became active again in 2009. As a result there is no history or knowledge of what occurred in the intermittent years.” Which in turn, resulted in all the assets and liabilities from before being written off. They included $5.6 million of paid-in-capital, around $1 million of expenses and loans and the deficiency from the development stage has been nearly $6 million.
It is not clear what happened with the rest of the paid-in-capital. Currently, all the company has for sure, and probably all it needs to have, is 104,900 shares of preferred stock, 6.47 million shares of common stock, a website and a trading symbol. By the way, the above mentioned reported in the 10-K common stock value must have been made without the help of promoters. It suggests a price of $0.00999 for a share.
