Manas Petroleum Corporation (OTC:MNAP) has been falling down progressively over the past week. Yesterday, the fall 
continued and the stock lost the next 3% of its price. At the same time, however, its traded volume got doubled and sent MNAP straight to the low-trade zone. But how long will the downtrend continue?
Most probably, investors are disappointed by the lack of news from Manas Petroleum lately as the company has not released any announcements on its business for a month. Actually, the latest news by MNAP was its financial report for the year ended December 31, 2010. Apart from the 10-K, no other information about the company was reported.
Instead of publishing official press releases, Manas reported some changes in its beneficial ownership of securities. According to them, last year the company’s Director Mr. Heinz J Scholz has disposed a great amount of MNAP common stock at different market prices. The reason for the disposal remained unknown, however, since then the stock price has moved down significantly.
Manas Petroleum Corp. is a development-stage company engaged in exploration and development of oil and gas resources. After the company filed its annual results, the stock price jumped up, though the climb didn’t last long.[BANNER]
According to the 10-K, as an exploration-stage company MNAP hasn’t started generating revenues yet. Though, it has a positive working capital and reported approximately $1.7 in cash. However, the report reveals some details about a public offering announced in February, which seem bothering.
The purpose of the offering is to raise between $20 million and $30 million at a price per share determined by the context of the market. However, at the same time Mr.Heinz Scholz has been constantly disposing MNAP shares, which may cause troubles to the shareholders.
