the up move. Though, it seems that Mustang is not giving up so easy. Now URXE fights to take back the climb, this time by promotions.Yesterday, the stock started a promotional campaign to recover the loss. URXE was promoted by a couple of promotional websites, which pointed out the stock was ready to roar, having a month full of gains. These alerts cost $40.000 to Equities Awareness Group, which has paid the whole campaign. Now, URXE is expected to return to its progressive move, pushed up by the promotions.
Though, they weren’t the only factor to support the stock. Again yesterday, Mustang fueled up the campaign by reporting they have launched a new website that provided updates on the company. Apart from this fact, URXE has just appointed a new CFO, Principal Accounting Officer and Director to replace the one who has resigned.
Apparently, the news and the fresh promotions aimed to pump up URXE stock price and the result is just about to be seen.
Mustang Geothermal Corp. is an exploration-stage company engaged in the acquisition and exploration of uranium mining properties. Last November, the stock price reached over $1.00 per share, however, since then it has moved down more than 50%.[BANNER]
According to the company’s quarterly report, total assets of Mustang are higher than its liabilities, however, the deficit accumulated during the exploration stage period has jumped over $9 million. Besides, the net loss of URXE increased significantly.
Due to the huge deficit and the lack of profitable operations, the continuation of Mustang is dependent upon obtaining additional financing to meet its obligations and repay its liabilities. The management expects the funding will come from the sale of common stock, however, the issuances of additional equity securities would result in dilution for the stockholders. Meaning that at this point the future of Mustang remains under a substantial doubt.
