Yesterday, Cross Border Resources Inc. (OTC:XBOR) got a new volume high. Someone sold a huge chunk of shares, although there weren’t any news, updates, or promotions.
The value of XBOR shares has been dropping since early 2011 when the company was formed in its current form after Doral Energy Corporation merged with Pure Gas Partners II L.P. in January.
While XBOR managed to close flat at $1.55, most of the 613 thousand shares were traded at $1.30. It is not yet clear why that happened.[BANNER]
A week ago, XBOR held a virtual conference, but it didn’t affect the market in any significant way. Recent filings of XBOR show that options to purchase a total of 965 thousand shares were assigned to XBOR for cancellation.
The company paid $96.5 thousand to the holders of the options. $65 thousand to Everett Gray II, CEO and Chairman of XBOR, $30 thousand to Lawrence J. Risley, President and COO, and $1.5 thousand to a Jo Ana Kessler.
