Oil prices are trying to drop below $90 while the charcoal and gas grills get ready to cook some good ol’ fashion BBQ this Memorial Day weekend. Penny stock traders should be getting their trading screens ready as well as shares in AGR Tools Inc. (OTC: AGRT) stock could heat up real quick next week. 1.8 million shares entered the market Friday just before AGR Tools announced the incorporation of a wholly owned subsidiary, AGR Energy Holdings Inc., which will focus on oil & gas exploration and production within the continental U. S. Translation: Get AGRT stock on your list of penny stocks to watch because alerts will be coming out on it soon.
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AGRT Stock Chart:
Market Cap: 17.27M
a/o May 22, 2012
Shares Outstanding: 65.18M
Float 15.18M
Authorized Shares: 750.00M
What we know about the shares that aren’t in to Float is that 48.18M shares are owned by the following, each with 4,474,154 or 4,474,155:
• Ular Invest & Finance, Inc.
• Derry Partners, Ltd
• OTUS Invest & Finance, Inc.
• Ilhan Mansiz
• Volkan Yaman
• Nejmittin Cinar
• Hidayet Alkevli
• Beklan Coskun
• Max Tobler
What else we know from the 13-D filings is that most of them hale from Turkey and that the per share price for the purchase was $0.00002235059 (see here). So, right now, each of them has a “paper gain” on AGRT stock of 603,910.9%. The rest of the owners are:
• *Cede & Co. owns 5,150,000 shares, 5.6% beneficial owner,
• Summerton Consulting, Inc. owns 3,067,500 shares, 3.34%,
• International Capital Group, LLC & Dominic Colvin own 3,849,742 shares, 4.19%
• Barclay Lyons, LLC owns 1,000,000, 1%
Who Runs AGR Energy
Vern O.C. Wilson is the President, CEO and CFO of AGRT for all intents and purposes. Vern actually has some pretty humorous details about a 2008 well request that we’ll get to a bit further down. Vern has a pretty lengthy history in the oil business which dates back to the 80’s. He has over 30 years experience that includes drilling, completion, production facility design and reservoir engineering. He also designed and built the first commercial skid mounted complete packaged waterflood unit, created Global Energy, Inc., and devised the first conceptual design of the first natural gas liquids plant in Nigeria.
In the due diligence research on Vern, we found evidence of his success while he was with Texas M.O.R. in obtaining approval on Oil and Gas Proposals For Decision and Orders. (see here) What is humorous are the details from a June, 2008 article from the Corsican Daily Sun which details “An oil company president’s dissatisfaction with a road bond requirement resulted first in a denial of a request for drilling permits on six wells by the Navarro County Lake Planning and Zoning Commission.”
In the article, it details the events which have Vern O.C. Wilson, president of Texas M.O.R., having a disagreement with the county commissioners. Vern was quoted as saying: “Do you want people to come here, put businesses here, or do you want to remain the poorest county in Texas? If that’s the case, you’re well on your way to that.” Now, you have to admit, that’s pretty funny. The commissioner and Vern would eventually step outside to talk in private after he denied the permit to drill 6 wells. Commission members then voted to withdraw their original vote denying the requests.
What Money Does AGRT Make/Have?
According to the 10-Q filed last week for Q1, AGRT has cash on hand of $289, an accumulated deficit of 2.13 million, revenues for the quarter ended March 31, 2012 of $0, $0 expenses other than a $270,915 charge to impairment expense, for a total net loss for Q1 of $250,068. Manageable under all counts.
To view the SEC filings for AGRT, click here.
Bottom Line: AGRT stock needs to be on the list of penny stocks to watch because the Texas Oil man was brought in to pump something. Whether or not its oil is another subject. Odds are the sooner you sit down at the table, the better on this one since Friday was trading day 1 so the countdown has begun for when AGRT trading momentum ends.
With the players holding the cards and the dealer shuffling the deck, this is one no-limit penny stock poker game that could easily feed you a boat load of chips if your a gambler.
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