After 2 trading sessions of sub-par performance and volume, the penny stock of Scout Exploration Inc. (SCXN) is on the watch list for Thursday. Hoping to see a much better session volume wise today, thanks in part to Investors Hub renting out their subscriber list, SCXN stock is structurally sound with a sexy enough story line to it that one would think it could grow legs. However, even with a float of roughly 10 million shares, the haunting corporate address of the wannabe oil spill clean up crew indicates that Wednesday’s close at the LOD is simply of sign of things to come.
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SCXN Stock Quote
Market Cap: 2.23M
Wednesday Close: 0.135 ▼ -0.09 (-40.00%)
Dollar Volume: $112,518
Issued and Outstanding: 16,541,356
14-Day Rel Strength: 41.12%
14-Day Stochastic: 0.00%
Barchart.com Opinion: Strong Sell (96%)
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Besides there being less cash in the bank at the end of Q1 than the price of a ticket for tomorrow night’s NBA Finals Game 7, Scout Exploraton is so raw that they haven’t even built up any debt to finance the development of their nearly acquired rights to develop a prototype of an unmanned oil spill response system.
With the intent on closing the deal signed with IDS Offshore Inc. by the end of the month, Scout Exploration is selling the F.E.A.R. that oil spill remediation costs can reach the multi-billion dollar range, like what happened with the British Petroleum Deepwater Horizon disaster in the Gulf of Mexico. It sounds great and all, but you’re talking about 5-10 years minimum of testing before you could bring something of this importance to the marketplace.
Hoping to capture those who’s False Emotions Appear Real in believing the hype, the corporate address of the Company, 609-475 Howe Street, Vancouver, BC V6C 2B3, indicates that these plans just aren’t going to happen based on other companies using the same address. Trying to help hype up the cause, project developer and beneficial owner of 5 million shares of SCXN stock, Rene Lange, stated yesterday in a PR: “Scout Exploration’s airborne early response system represents a generational advance in spill response technology, and could provide a solution to Canada’s current problem.”
Is Canada’s potential oil spillage problems 5-10 years from now your problem? This is the question you must ask yourself.
About SCXN Stock
Scout Exploration, Inc. is a development stage company focused on further developing the airborne oil spill response system that the company acquired from IDS Offshore, Inc. and securing financing to carry out their operations.
Click here to view the SEC filings for SCXN.
Click here to view the website for Scout Exploration.
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SCXN has been a pitiful performer in the most recently promoted circle of penny stocks and has called in the big guns, renting out the list of Investors Hub subscribers, to swing for the fences. Look for SCXN stock to fill the gap upwards to the 1st resistance point of 0.205 before the dilution monster rears its ugly head again.
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