Trading consistently for the past few trading sessions is the most positive news the penny stock of Double Crown Resources Inc. (OTC: DDCC) has been able to produce in the last 3 months. Lacking the cash, as of the last Q filing, to explore its leased oil properties, DDCC stock has seen “more consistent trading activity” since March began. While the last news from nearly 6 weeks ago offered commentary from President and CEO, Jerry Drew, it too early to tell whether its time to double down before the double cross.
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DDCC Stock Quote
Market Cap: 2.31M
Last: 0.013 ▲ 0.001 (8.33%)
Dollar Volume: $25,256
Issued and Outstanding: 177,751,145
14-Day Rel Strength: 55.53%
14-Day Stochastic: 76.92%
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Comments made in an interview published on January 24, it sounded like Double Crown Resources was ready to bring in some oil industry experts like Allen E. Lopez, Director of Oilfield Services. Back in November, DDCC stock had a half decent mini-run after the Company announced a proposed joint venture with U.S. Sand, LLC to supply vital fracturing sand and related commodities to active, on-shore oil and gas drilling operations.
As investor await updated financial data to be filed with the SEC, the last filing for the period ended September 30, 2012 had Double Crown Resources lacking cash with just $2,902 on the books. The cash represented the total assets of the Company which is not a confidence booster, especially for a penny stock which doesn’t trade every day.
Other than traders looking to get a quick flip on DDCC stock, there is sure to be others who would like to see the same since, during the quarter ended September 30, 2012, 1,995,000 shares were issued for cash of $2,850 (cost basis of $0.00147) with $9,413 still owed, and 2,000,000 shares were issued for services valued at market for $10,000 (cost basis of $0.005). Assuming those owed shares have been issued during Q4, there should be another 6.4 million shares of DDCC stock that are looking to be cashed in on.
About DDCC Stock
Double Crown Resources, Inc. is an exploration stage company with no realized revenues to date or sufficient capital to enable the Company to commence and complete their exploration programs without obtaining the required financing.
Last 5 Trading Sessions:
Bottom Line: DDCC is a penny stock worth passing on unless some amazing awareness campaign begins and a trader can flip it in the first 30 minutes f trading. Until some financing deals can come around and more consistent trading and PR can support the activity, DDCC stock looks better on screen than in a portfolio.
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