{"id":1830,"date":"2013-06-28T15:11:04","date_gmt":"2013-06-28T15:11:04","guid":{"rendered":"\/?p=1830"},"modified":"2013-06-28T15:11:34","modified_gmt":"2013-06-28T15:11:34","slug":"octagon-88-resources-inc-otcmktsoctx-continues-its-slide-towards-the-bottom","status":"publish","type":"post","link":"\/articles\/octagon-88-resources-inc-otcmktsoctx-continues-its-slide-towards-the-bottom\/","title":{"rendered":"Octagon 88 Resources Inc. (OTCMKTS:OCTX) Continues Its Slide Towards the Bottom"},"content":{"rendered":"

\"OCTXchart.png\"The stock of Octagon Resources Inc. (OTCMKTS:OCTX<\/a>) lost another 13% of its value during yesterday’s session. The ticker has been spiraling downwards since mid-May and has lost 60% since briefly touching on $10 back in April. Just in the last two weeks it saw a deflation of nearly 3 dollars, dropping from $6.64 to $3.72. <\/p>\n

There is a good reason for investors to be pessimistic about the future of the company as it is nothing but a vehicle for a pump scheme. OCTX<\/a> intends to operate oil and gas assets in the U.S. and Canada which is the preferred industry if you want to attract unsuspecting investors. Moving disproportionately from the company’s fundamentals the stock even at the current levels is too overpriced. We already covered most of the red flags about OCTX<\/a> when they were still actively pumped back in May.<\/p>\n

As for the results of their business lets turn to the latest quarterly report for the period ending March 31. Back then they had:<\/p>\n