It’s been just over a year since John Meyers of oilstockreturns.com was pumping the penny stock of Homeland Resources Ltd. (HMLA), yet somehow, shares of the due to dilute, confused as to what business model to purse company are on fire again. In their last public announcement, the oil and gas explorers admitted that the nominal success realized through participation in the drilling program at Liberty Ridge Oil and Gas Project forced them to rethink what they need to be doing and who should run the Company. With a looming settlement for $1,070,000 of indebtedness owed to Radium Ventures Corp. on the table, somehow HMLA stock has caught fire and it makes no sense as to why.
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HMLA Stock Quote
Market Cap: 4.26M
Last: 0.07 ▲ +0.041 (+141.38%)
Volume: 666,137
Dollar Volume: $39,391
Open: 0.029
High: 0.0993
Low: 0.029
Trades: 64
14-Day RSI: 85.23%
1st Resistance Point: 0.1032
1st Support Level: 0.0329
52Wk High: 0.11
52Wk Low: 0.005
Business hasn’t been all that good this year for Homeland Resources and no where remotely close to any of the 8 good reasons John Meyers said recipients of the hard mail / email touts from last spring should be buying up HMLA stock. As of April 30, 2014, the “does exhaustive research prior to spending money on drilling” Company’s current liabilities exceeded their current assets by $1,371,932, revenues dropped to $8,757 and $68,673 for the 3 and 9 months ended April 30, 2014 versus $29,763 and $85,904 for the same periods the year prior, and for the 9 months ended April 30, 2014, the net loss had ballooned to $723,067.
The drilling program at Liberty Ridge Oil and Gas Project was basically a total failure for Homeland Resources having booked a $663,179 expense during fiscal 2014 for the impairment of oil and gas properties. The face palm was catastrophic enough that Armando Garcia resigned from his role as President, Secretary and a Director of the Company on May 28, 2014 allowing for Tom Campbell to take over as the Company’s President and David St. James as the Company’s Secretary and Treasurer.
Armando held 15,200,000 shares of HMLA stock as of October 29, 2013 and 200,000 unexercised options. What’s more concerning is how, even though Homeland Resources has failed miserably at executing a viable drilling project, the Company has revamped their website since last year’s HMLA pump and now offers translation service in German which hints that the stock is being pumped over the phones, likely from a boiler room operation in Thailand or Spain.
As for HMLA stock activity, the shares laid virtually dead in terms of volume until around the time the Company announced that they needed to reassess their business model, stating that they hadn’t yet identified a new direction, had no specific potential transactions in place, nor was there any assurance that a new project and or financing arrangement would be concluded in the future. To add even more doubt, the most recent 8K filing states that they recently made an offer to settle approximately $1,070,000 of indebtedness owing to Radium Ventures Corp. which, if accepted, would cost the Company approximately 101,000,000 shares of HMLA stock.
If your calculator is working correctly, that would deem HMLA to be worth 0.0106 to Radium Ventures and they still don’t have a business model that’s economically feasible. Homeland Resources had $53,094 on hand as of April 30, 2014 which likely means that more convertible notes payable were issued since in order to keep the one pump that worked pumping.
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About HMLA Stock
Homeland Resources Ltd. is a development stage oil and gas production and exploration company focused on developing oil and natural gas reserves in the United States which, to date, has participated in the drilling of test wells on undeveloped properties that have been primarily unsuccessful with 5 of the 6 wells drilled deemed to be uneconomic.
Click here to view the SEC filings for HMLA.
Click here to view the website for Homeland Resources.
Authorized: 500,000,000
Issued and Outstanding: 60,800,000
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Chg | Volume |
| 08/07/14 | 0.0290 | 0.0993 | 0.0290 | 0.0700 | +0.0410 | +141.38% | 666,100 |
| 08/06/14 | 0.0220 | 0.0290 | 0.0220 | 0.0290 | +0.0064 | +28.32% | 183,600 |
| 08/05/14 | 0.0160 | 0.0226 | 0.0160 | 0.0226 | +0.0062 | +37.80% | 166,200 |
| 08/01/14 | 0.0164 | 0.0164 | 0.0164 | 0.0164 | +0.0043 | +35.54% | 500 |
| 07/31/14 | 0.0156 | 0.0164 | 0.0121 | 0.0121 | unch | unch | 68,000 |
Bottom Line:
It all makes sense now as to why HMLA has suddenly become such a hot penny stock: It’s likely being pumped via offshore boiler rooms calling into Germany. Sure, why else would the virtually no revenue producing company have a need to revamp their website and offer translation of it in German. With the U.S. version of the HMLA stock pump last year having reached as high as 0.27 in May, 2013 before collapsing to a subpenny at the end of the year, the chances of more “666” type gains like today’s has a “when pigs fly” chance.
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