{"id":3906,"date":"2014-02-17T11:12:12","date_gmt":"2014-02-17T11:12:12","guid":{"rendered":"\/?p=3906"},"modified":"2014-02-17T11:13:44","modified_gmt":"2014-02-17T11:13:44","slug":"breitling-energy-corporation-fka-bering-exploration-inc-otcbbbecc-surges-relentlessly","status":"publish","type":"post","link":"\/articles\/breitling-energy-corporation-fka-bering-exploration-inc-otcbbbecc-surges-relentlessly\/","title":{"rendered":"Breitling Energy Corporation f\/k\/a Bering Exploration Inc (OTCBB:BECC) Surges Relentlessly"},"content":{"rendered":"<p> <img loading=\"lazy\" decoding=\"async\" style=\"float: right; margin: 3px;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/BECC.png\" border=\"0\" alt=\"BECC.png\" title=\"BECC.png\" width=\"450\" height=\"201\" \/>Breitling Energy Corporation f\/k\/a Bering Exploration Inc (OTCBB:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BECC\">BECC<\/a>) went through a merger recently and the chart on the right shows that investors seem pretty happy with this action. With good reason, too. <\/p>\n<p>We had a quick look at the SEC filings prior to the asset purchase agreement and we can see that things weren&#8217;t going quite to plan. According to the latest 10-Q, they had less than $15 thousand in cash, $755 thousand in working capital deficit, just $19 thousand in quarterly revenues, and a net loss of around $763 thousand. Somewhat predictably, their stock performance wasn&#8217;t exactly perfect. At the beginning of 2013, the shares (then under the BERX symbol) were traded for around $0.38 a piece, but by November, they had dropped to just $0.06. <\/p>\n<p>Still, the merger means that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BECC\">BECC<\/a> is now a completely different company which renders the figures above somewhat irrelevant. There&#8217;s a new management team led by Mr. Chris Faulkner (<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BECC\">BECC<\/a>&#8216;s CEO) who promised to lead Breitling to the national stock exchanges when he took the helm. We&#8217;ve heard numerous penny stock executives make similarly bold claims, but with <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BECC\">BECC<\/a>, a potential uplisting might not be that far-fetched. The management team published an 8-K\/A form containing the unaudited financial statement of the new enterprise on Friday and we can see from it that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BECC\">BECC<\/a> is now a solid operating company. Here&#8217;s a summary of the most important figures as of September 30, 2013:<\/p>\n<ul>\n<li>current assets: $6.5 million (mostly cash)<\/li>\n<li>current liabilities: $10.2 million<\/li>\n<li>quarterly revenues: $24.1 million<\/li>\n<li>quarterly net income: $942 thousand<\/li>\n<\/ul>\n<p>There is a rather big working capital deficit and the profit margins aren&#8217;t huge, but it&#8217;s clear that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BECC\">BECC<\/a> looks like one of the more solid penny stock companies out there.<\/p>\n<p>Bear in mind, however, that it is still a penny stock and, as such, it&#8217;s extremely volatile. The ticker already made an impressive run climbing from around $0.08 per share all the way up to $0.876 and it did it in a matter of just two months. This means that the threat of a correction seems very real at the moment.<\/p>\n<p>What&#8217;s more, there are some people who can take advantage of the inflated market cap which, at Friday&#8217;s close, hovers around $437 million. We read in Friday&#8217;s 8-K that when the new management team took the helm, they wanted to get rid of the public entity&#8217;s convertible notes. As a result, millions of shares got issued at prices quite a bit lower than the current one. If the people who got the discounted stock decide to unleash it on the open market, the ticker could take a plunge.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: left; margin: 3px;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/BECC_logo.png\" border=\"0\" alt=\"BECC_logo.png\" title=\"BECC_logo.png\" width=\"150\" height=\"68\" \/>As for the long run, there&#8217;s no shortage of people who believe that Mr. Faulkner is capable of putting <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BECC\">BECC<\/a> on the map, but having done a bit of research, we can see that this hasn&#8217;t always been the case. Back in 2012, when Breitling was still a privately-held entity, Mr. Faulkner apparently launched an aggressive marketing campaign in a bid to lure in more investors. It&#8217;s clear that not everyone was happy with his efforts.<\/p>\n<p>He was also at the helm of a web hosting provider called CI Host &#8211; an enterprise that got criticized for poor quality of the service and for some interesting billing practices.<\/p>\n<p>Of course, Mr. Faulkner&#8217;s previous endeavors aren&#8217;t necessarily indicative of <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BECC\">BECC<\/a>&#8216;s future. We can see that he also has a much more solid footing with his latest company. Even so, doing a lot of due diligence and carefully thinking through every single move is absolutely essential.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breitling Energy Corporation f\/k\/a Bering Exploration Inc (OTCBB:BECC) went through a merger recently and the chart on the right shows that investors seem pretty happy with this action. With good reason, too. We had&#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":[1255],"class_list":["post-3906","post","type-post","status-publish","format-standard","hentry","category-news","tag-becc"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3906","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=3906"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3906\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}