Lee and all... here's one to watch that fits Lee's reverse-split, pump and rape scenario.
WACC - WestAmerica
Oil and Gas Drilling in OK and TX. The stock reverse split 1 for 3 back in July. Just recently (end of Sep), the founder, President, CFO, Investor Relations Manager, and Delivery Guy (all the same person) sold all of his shares, a controlling interest, to some investment company, and the investment company is going to conitinue business (yeah, right). Huge volume Tuesday, but I don't know if it is due to the transfer of control... did not move the price much.
Oh yeah.... not much cash, in debt, negative earnings, yadi, yadi...
Watch it closely... It may be good to ride down.
~Mitch |
