{"id":1445,"date":"2013-05-15T11:15:12","date_gmt":"2013-05-15T11:15:12","guid":{"rendered":"\/?p=1445"},"modified":"2013-05-15T11:15:39","modified_gmt":"2013-05-15T11:15:39","slug":"western-graphite-inc-otcbbwsgp-crashed-as-predicted","status":"publish","type":"post","link":"\/articles\/western-graphite-inc-otcbbwsgp-crashed-as-predicted\/","title":{"rendered":"Western Graphite, Inc. (OTCBB:WSGP) Crashed, as Predicted"},"content":{"rendered":"<p> <img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/0WSGP_chart.png\" border=\"0\" alt=\"0WSGP_chart.png\" title=\"0WSGP_chart.png\" width=\"400\" height=\"179\" \/>As I pointed out in my previous article, Western Graphite, Inc. (OTCBB:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WSGP\">WSGP<\/a>) is a pump job and it was due for a reality check in the form of a quarterly financial report. The company filed it, and crashed. <\/p>\n<p>The price was slowly creeping up in the start of the session, and then the filing came. <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WSGP\">WSGP<\/a> dropped about 65% in a matter of minutes. Eventually it recovered to close at $1.51 per share for a 20.11% loss on a new volume high of nearly 2.6 million shares.<\/p>\n<p>Here are some of the basic numbers found in the quarterly:<\/p>\n<ul>\n<li>$5,459 total current assets<\/li>\n<li>$1,544,944 total current liabilities<\/li>\n<li>$0 revenues<\/li>\n<li>$12,110 net loss<\/li>\n<\/ul>\n<p>The report confirms that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WSGP\">WSGP<\/a> acquired its properties for shares of stock. The company also owes $1.5 million in cash for the Amorf Graphite property. That&#8217;s money <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WSGP\">WSGP<\/a> simply doesn&#8217;t have. With the shares issued for the properties, the number of outstanding shares (OS) has gone up to 71 million. This means the market cap of <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WSGP\">WSGP<\/a> is still about $107 million.<\/p>\n<p>While <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WSGP\">WSGP<\/a> recovered after the initial drop, at $1.51 it is still over-priced. The fundamentals simply can&#8217;t support this price level. Unless the company manages to pull off some miracle, the price will readjust to reflect the real worth of <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WSGP\">WSGP<\/a>. The blind faith of believers can&#8217;t deny reality forever.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As I pointed out in my previous article, Western Graphite, Inc. (OTCBB:WSGP) is a pump job and it was due for a reality check in the form of a quarterly financial report. The company&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[629],"class_list":["post-1445","post","type-post","status-publish","format-standard","hentry","category-news","tag-wsgp"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/1445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=1445"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/1445\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=1445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=1445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=1445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}