If you opened a bar with the business model of stocking alcohol, but not serving it, there is a 100% chance that your business will not be around for very long. The same can be said for the penny stock of Excelsior Gold Corporation (OTC: EXLA) whose objective is not to extract gold, silver, and other precious metals, but only to prove mineral reserves. While EXLA stock may be a new ticker to trade off of the plethora of “hit and run” alerts issued, the chance of seeing a nickel or better after the gap open looks about as likely as finding a gold nugget in your nose while having your coffee.
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EXLA Stock Quote
Market Cap: 4.28M
Last (Monday, April 15): 0.04
52Wk High: 0.11
52Wk Low: 0.003
Issued and Outstanding: 105,692,627
14-Day Rel Strength: 51.73%
14-Day Stochastic: 50.00%
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When we first covered EXLA when they still called themselves Helmer Directional Drilling Corp. they were a POS despite having raised their POS level from the Exclusive Apparel Inc. shell corp. set up set to make designer baseball hats for women. The fashion designing business model didn’t work, the directional drilling for oil didn’t work, so who is to say that seeking, but not digging for gold and other precious metals will work.
Unable to attract the necessary capital and management to begin any directional drilling operations, on March 14 of this year, Excelsior Gold Corporation, a Utah corporation, reversed into Helmer in exchange for 1,000.999 shares of EXLA Series M preferred stock. Convertible into 302,000,000 shares of EXLA common stock, Douglas McFarland and crew are now the holding company of Excelsior and operating a company in development of mining interests by drilling and proving mineral reserves – specifically in their first two properties located in Washington and Montana.
Excelsior Gold had a total of $167,119 in mining assets and $0 liquid assets (cash or their equivalents) as of the 10-K filng for the year ended December 31, 2013. Helmer Directional Drilling had even less — a big fat $0 worth of assets. Together, they had no cash and a couple of pieces of paper for leased land valued by who knows who.
Phooey! baseball hats, sideways drilling ideas or seeking, but not exploring, mining activities on leased properties, EXLA is POS set to dump a ton of shares into the bags of unsuspected traders at the opening bell.
About EXLA Stock
Click here to view the SEC filings for EXLA.
Click here to view the website for Excelsior Gold.
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Lost for a better way to phrase it – EXLA is a POS penny stock that should be avoided at all costs. With the chance of seeing EXLA open at .05 or more, and added “X” to the ticker is exactly what is going to happen once buy orders start rushing in – a diarrhea type dilution of shares into the toilet of novice traders looking to make a buck.
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