Cooking the books will get you a room right next to Bernie Madoff or Allen Stanford, but cooking the stats and charts of a penny stock is as simple as a ticker symbol change. That’s exactly what happened with the failed promotion of Viking Minerals Inc. (VKML) which landed on the OTCBB list of new 52-week highs on Wednesday. Formerly VKML stock, then switched to VKMD for a botched TBX promo which was pulled 1 minute after the market close on day one, the Company opted to switch back to its old ticker soon after. With stats padded, the failed VKMD stock data missing from the charts, and activity steaming again and PR flowing, is this cashless, revenueless Company worth the attention?
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VKML Stock Chart
Market Cap: 8.76M
Close: 0.058, up 0.028 (93.33%)
Dollar Volume: $96,005
Average Trade Size: 16,248
Issued and Outstanding: 151,058,181
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A week ago, Viking Minerals announced it was in the process of adding two new members to the Company’s Board of Directors as well as having selected a new CEO. What a relief that must be for Charles Irizarry who wears the hat of CEO, CFO, President, Secretary, Treasurer, and Director (Principal Executive Officer and Principal Accounting Officer). Wednesday’s news that the Company is evaluating two new acquisitions in the Gold exploration and Oil & Gas sector pretty much proves how unclear the business model is.
They are at least current on their filings which they timed correctly releasing Madsen & Associates CPAs, Inc. as their accountants soon after. For the three month and six months ended September 30, 2012, revenues grew from $0 since their inception to $0 and $0, respectively. At least revenues match cash and total assets, the same amounts reported for the fiscal year ended March 31, 2012 —$0 and $0, respectively.
So why is VKMD, sorry VKML, stock trading so bullishly, for the same reason that bullishly scrambled, less the “ly” and add a “t” would be. With the stats not appearing on the chart for VKML, novice traders will miss the September 6 data (see here) when VKMD had its half-a-trading session promotion.
About VKML Stock
Viking Minerals Inc. is a development stage company that is presently seeking mineral claims for development.
Last 5 Trading Sessions:
Click here to view the SEC filings for VKML.
Bottom Line: VKML showed some very aggressive moves for a penny stock that was a failed pump when it was VKMD just two months ago. With 107 trades executed on the current SEC filer, VKML should at least be watched since the upcoming TBX announcement is due out next week. Maybe they get better results this time and stay on it rather than abandoning ship.
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