Mainland Resources Incorporated (OTC:MNLU) has been moving up progressively since last week. Yesterday, the stock added 
another 23.46% to its price and its traded volume exceeded 1 million shares.
The reason for the up move turns out to be the last news by Mainland which came up last week. However, the problem is that it kept being published again and again since then.
The announcement, which was released by three different websites during the past days, reported that MNLU has appointed Dr. George Chilingar to its Advisory Board. The press releases certainly fueled up the climb for MNLU and it started the massive trade at once. Now it is interesting if the news will hold the gain for longer.
Mainland Resources, Inc. engages in the exploration and production of natural resources. Recently, the company filed its unaudited 10-Q report for the period ended Aug 31, 2011. According to it, MNLU had some cash available, though its liabilities increased. Besides, the company’s accumulated deficit during the exploration stage jumped over $13 million.[BANNER]
Due to the incurred losses and accumulated deficit, the company’s ability to continue as a going concern is dependent on raising capital to fund ongoing operations and carry out its business plan and ultimately to attain profitable operations.
At the same time, the management states that additional funding will be required to complete their 2011 operations program, as well as the merger with American Exploration. At the same time, MNLU is threatened by numerous risk factors.
