Three producing natural gas wells in Wayne Country – this is the latest acquisition of US Natural Gas Corp. (PINK:UNGS). One possible result – a two year revenue estimate of $200k. And this is not the only potential source of revenues. Yet, stock market results are not as optimistic. 
Now, the press release in question came out today, and it is yet to see what its effect would be on trading activity this Tuesday. So far, the week has not been good for UNGS. Yesterday session was another day of decline with low trading volume, the session closing at $0.0035 per share. Surprising to a certain extent given the promotion that came out.
What is more surprising, however, is all the acquisitions taking place, when combined with the financial condition of the company. In the last few months, lots of positive announcements came out, focusing on how US Natural Gas Corp might be going the extra mile in bringing value to investors. Yet, what also came out is the 10-Q, covering the first 3 months of the year. Among other figures, it includes the following:
- $2.8k in cash;
- $483k in total current assets;
- $2.3 million in total current liabilities;
- $2.89 million in accumulated deficit; [BANNER]
So, having in mind the funds available ($2.8k) it is very interesting how operations are sustained, let alone acquisitions are executed. Not that cash is the only way to acquire an asset. On the other hand, additional funding could have been found and used. Yet, uncertainty prevails, the stock still gravitates in sub-penny levels, and it is yet to see what the end result of all the acquisitions would be.
