Those of you who were fortunate enough to get our pre-market Twitter alert about the penny stock of Toro Ventures Inc. (TORO) can thank us later when the real momentum kicks in. Filing 2+ years worth of SEC filings today and with a float so small that, with this newly cleaned up baby-bull, there is only one direction TORO stock could go from .01. Despite the lack of assets or revenues, there is a “clear and present” reason as to why this oil & gas explorer went through the motions of becoming current with their filings. (see Tweet alert here)
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TORO Stock Quote
Market Cap: 245.12K
Last: 0.04 ▲ +0.032 (+400.00%)
Volume: 186,444
Dollar Volume: $3,113
Open: 0.01
High: 0.04
Low: 0.01
Trades: 8
Authorized: 75,000,000
Issued and Outstanding: 16,095,000
Bid/Ask: 0.031/0.08
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Seeing this many filings come through in one shot, 18 to be exact, makes for the best type of speculation trade one could ever ask for. Up until yesterday, TORO was as dead a penny stock as would have been expected since they hadn’t produced any filings since June, 2010.
Highlights form the filings include details of Joseph Arcaro, 53, President, Principal Executive Officer, Principal Financial Officer, Secretary Treasurer, Secretary, and Director of Toro Ventures who has been in the brokerage and venture capital business for the last 15 years. Surely his tools will be of great value if another Company was to reverse merge into this or if they are to raise any kind of capital to explore/develop any of their oil interest in Oklahoma.
Back on March 26, 2012, Toro Ventures acquired a 15% working interest in the Quinlan #3 Oil and Gas lease in Pottowatomie County, Oklahoma in consideration for the payments totaling $67,500. By a turnkey agreement dated March 29, 2012, the Company then acquired a 60% working interest in an oil and gas lease known as the Crown Oil and Gas Lease in Pottowatomie County, Oklahoma for $250,000.
However, the most recent Q filing for the 3 months ended March 31, 2013 states that Toro Ventures had $0 cash, $0 assets and $0 liabilities making them a shell company for all intents and purposes. They do intend to continue to acquire high quality oil and gas properties, primarily “proved producing and proved undeveloped reserves” in the U.S. which they consider to be “low-risk” development drilling and work-over opportunities with experienced, strong operators by financing their plans through a combination of privately placed debt and/or equity.
Per the 10K filing for the year ended June 30, 2012: Joe Arcaro, director and CEO, issued to himself 10,000,000 shares of the Company in exchange for services valued at $10,000. If Yan Liu still has his 3,000,000 shares as indicated on the 10K, the float is just 3,095,000. No wonder traders are having a hard time getting their orders filled.
About TORO Stock
Toro Ventures, Inc. is an exploration stage oil and gas company engaged in the exploration for oil and gas in Oklahoma.
Click here to view the SEC filings for TORO.
Last 5 Trading Sessions:
| Date | Last | Change | % Change | Volume |
| 05/16/13 | 0.0080 | -0.0030 | -27.27% | 6,000 |
| 04/17/13 | 0.0110 | unch | unch | 10,000 |
| 04/11/13 | 0.0110 | unch | unch | 7,200 |
| 04/01/13 | 0.0110 | unch | unch | 10,000 |
| 03/07/13 | 0.0110 | unch | unch | 10,400 |
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Bottom Line:
Those who got into TORO at the opening bell for less than 0.04 are delighted, but those who get in on the speculation alone of this being a running penny stock in the not-so-distant future are betting the right way on this bull. There must be a reason why the Company spent the money required to get all those filings in today rather than just take TORO stock to the pink sheets which is even more reason why speculators are likely to win big on this.
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