Eighty cents in February, twenty cents in March – things are not going well for Innocent Inc.(OTC:INCT) recently. The bigger the trading volume – the greater the free fall. There were some positive news at hand recently, yet confidence in the company seems to be insufficient for the decline to stop. 
The fact of the matter is that ever since Innocent announced the entry into a Material Definitive Agreement with Steele Resources Inc. to acquire 50% of the Mineral Hill Project, the stock has been declining. As usual, opinions split in two, arguing over the future of the company. The ones who don`t exactly believe in the bright future of Innocent, would focus on the management of the company and on the lack of information.
The CEO Wayne Doss appears to have an interesting past and present track record. He obviously manages several other companies besides Innocent. Currently, these are Texas Sweet Crude Oil, Nova Natural Resources and BookMerge Technologies. As for past operations, one name is usually mentioned – Zupintra Corp. Inc., which used to trade at levels similar to Innocent now before crashing down and remaining in sub-penny levels up-to-date.
Another point, which is also important to mention, is that the above mentioned agreement for Mineral Hill Project includes a point that: [BANNER]
The initial participating interests of Innocent, Inc. and Steele Resources, Inc. in the JV will be 50% and 50%. Under the terms of the agreement, Innocent may contribute up to $5,000,000 in operating funds over one year. In the event those funds are not provided, Innocent will forfeit 10% per $1,000,000 not provided.
A question that inevitably comes to mind is – if, according to the last 10-Q statement, the company has $1806 in cash, how would it find $5 million? Let alone, there is much more information to be disclosed regarding this project alone in order for a higher level of confidence in investors to be inspired.
But it is not impossible. There are quarterly statements due, there is still information to be provided for the projects of the company. Gold prices continue to rise, which means there would be great revenues to come for a certain set of players in this industry. Whether Innocent Inc. can be one of them, however, is still not certain.
