past couple of days the stock climbed higher and its volume reached over 4.5 million shares.As already reported on hotstocked.com, there is an absolutely reasonable explanation on the high trade – promotions. Obviously, they have strongly supported the stock price right from the beginning and it keeps moving up. The reason for the gain is that the promotions continue until February 2nd. Above all, MNLU has been promoted by speculatingstocks.com, whose name tells a lot about its business. According to the announcement, SpeculatingStocks.com, Inc. expects to be compensated by a third party (Lake Group Media Inc.) $5,000 cash for a two-week promotion, which additionally secures the MNLU up move.[BANNER]
However, Mainland Resources has just made another move to keep the high trade. Yesterday, the company announced they have entered into a Marketing Services Agreement with SEI Energy, LLC to provide them gas marketing options. The news gave investors new hopes for the future, though in general the situation of Mainland remains the same.
Considering its latest financial report, the company has generated no revenues by end-November and its accumulated deficit during the exploration stage is higher than $10 million. Despite the fact that Mainland has more assets than liabilities in its balance, the huge deficit points the company’s ability to continue as a going concern. Management team states it expects to receive additional funding to complete the 2010-2011 operations program, however, it is not available yet. This could significantly and materially restrict the company’ operations.
