For the first 6 moths of 2014, it appeared that the penny stock of Paradigm Oil and Gas, Inc. (PDGO) had slipped on an oil slick and was never going to regain its balance. An announcement mid-June that monthly revenues would soon exceed $100,000 put a stall to the slippery slope PDGO stock was on until July approached which is when CEO Vince Vellardita predicted a record $40,000 monthly profit was expected to be booked. After reporting to have acquired another 64 new wells to add to their approximately 300 oil and gas wells they had on 50,000 acres of leased land per their last filing, the $1.5 million cash and preferred stock transaction with Black Jack Services, Magnum Operating, and Johnson Trust could be major catalyst as the summer starts to heat up.
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PDGO Stock Quote
Market Cap: 2.12M
Last: 0.017 ▲ +0.0054 (46.55%)
Dollar Volume: $118,166
14-Day RSI: 77.85%
1st Resistance Point: 0.021
1st Support Level: 0.012
52Wk High: 0.098
52Wk Low: 0.004
The comments made about revenues and profits expected to come by the former President of Seven Arts Entertainment, Inc. (SAPX) appear to have a lot more Hollywood glitz and glamour to them than actual substance based on what occurred during the first 3 months of 2014. Between January 1 and March 31, Paradigm Oil and Gas booked revenues equal to the amount of goals Brazil scored in the first half of their match today versus Germany – NIL.
Regardless of the lack of previous revenues, PDGO stock showed that the force was with it on Tuesday in such a manner that only PureSpectrum, Inc. (PSRU) and Advanced Visual Systems, Inc. (AVSC) saw trading action better than it. Neither of those two tickers had PR from last month which boasted about having one lease that alone produced 442 barrels of oil in a week or having active wells in their portfolio that allow for projected revenues to come in at roughly 6 figures a month in the coming months.
Breaking 0.02 today is a very bullish sign for PDGO heading into Wednesday. What’s concerning is the 35,971,048 shares that were issued during Q1 for services, cash and note conversions and just how much more was issued since then for the better than $180,000 in notes payable that were on the books as of March 31, 2014. The key moving forward will be determining which market maker is holding the cheap shares and which ones are holding back the orders for those not already in PDGO stock.
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About PDGO Stock
Paradigm Oil and Gas, Inc. is an emerging company in the oil and gas industry with its focus in Eastern Texas, North Western Louisiana, Oklahoma and Canada.
Issued and Outstanding: 124,842,704
Vince Vellardita, Chief Executive Officer, President and Chairman: 12,000,000
Last 5 Trading Sessions:
There wasn’t much to write home about in terms of hot penny stocks during today’s trading session. A pullback would be healthy after 2 consecutive green sessions, with PDGO stock running off of a bullish PR from Monday. The chances of it seeing a gap up at the open before calming down a bit to flatten out for a day seem probable. Should PDGO hold the high 0.01’s heading into tomorrow’s close, it could test 0.03 after the next Hollywood type PR is released to boost more interest.