This week could see one of the youngest penny stocks on the OTC, Gray Fox Petroleum Corp. (GFOX) commence trading. Effecting an 8-for-1 forward split last month and replacing Viatcheslav Gelshteyn of the Czech Republic with 25 year old Lawrence Pemble, GFOX stock is hoping to encourage investor confidence in their oil exploration efforts in Nevada. Although age may ave nothing to do with the ability to put out a decent press release, the links to David Lubin & Associates, PLLC are a clear indication that a spurt is at to come at some point this summer.
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GFOX Stock Quote
Market Cap: 27.6M
Last: 0.80
Authorized:
Issued and Outstanding: 34,560,000
Lawrence Pemble, the sole director of the Company: 18,400,000
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With a live website set up announcing that details will be “Coming Soon”, traders have their eye on Gray Fox Petroleum in hopes that some shares will pop out at some point this week. GFOX became effective last week after FINRA allowed the name and ticker symbol change of the former shell corp: Viatech Corp. (VTCH).
To prepare for the change over from Gelshteyn to Pemble, a former member of a British gold exploration company having concessions covering over 2,000 sq. km in Africa where he lead operations from the initial grass roots phase through the advanced drilling stage, the newly formed Company needed some land to drill into for oil.
While everyone was still recovering from their 4th of July hangovers, Gray Fox Petroleum Corp. entered into a Lease Purchase Agreement with FFMJ, LLC, for interest in 22 separate oil and gas leases issued by the Bureau of Land Management for the United States of America. The leases are spread out around 32,723 acres in Nevada and will only cost the start up Company $250,000 payable in installments: $100,000 on or before July 15, 2013, $75,000 within 60 days of July 5, 2013, and $75,000 within 120 days of July 5, 2013.
FFMJ, LLC is run by one Stanley A. Matzke.
So what dos it all boil down to for GFOX? It’s the typical beginnings of a pump to come. You got Lubin and Associates as the attorneys on record for the S-1, a foreign based entity and untraceable former sole director to relinquish control to a fresh name and face in Pemble. And,the icing on the cake is the cookie-cutter $250,000 assumption of lease interests with the intent on drilling deep and banking on oil to spurt.
Translation: GFOX is good for a 20-30% gain at best from 0.80 whenever the fox gets let out of the bag.
About GFOX Stock
Gray Fox Petroleum Corp. is a development stage company focused on exploring for oil an natural gas in Nevada.
Click here to view the SEC filings for GFOX.
Click here to view the website for Gray Fox Petroleum.
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Bottom Line:
New penny stocks are always on watch, especially when the are tied to attorneys who have had other incubations run off of promos by big groups. Look for volume to exceed 100,000 to confirm the pump has been turned on before getting foxed out by MM’s boxing in their bid/ask on GFOX stock.
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