Does anyone have an opinion on Originoil? Thanks!
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Hi there, I bought OOIL for $.30 awhile ago and am still holding. From a technical analysis point of view, I like the increased volume in the past few months. Seems to be bottoming here at about $.20 or so. I bought because of the potential of their products.
I have been investing in OOIL for several years and have followed it down from ~$7(before the 30 to 1 reverse split) to the teens. I think the prime mover in the downward spiral has been the warrants used to finance the company, combined with an unusual amount of short selling. I don’t think you will see much upward movement until they have a solid income stream. It will happen when Pace can get the fracking unit working. Their technology is sound and I think the market is there, so I am hanging on at an $0.88 average share price. I would love to buy more, but I don’t want a divorce.
I agree they have potential but I’m afraid a large company with a similar technology could put them out of business pretty fast.
Story stocks can be deep to cavernous money pits. MD&A in latest 10-q suggests their cash flow is marginal. Some money being raised by issuing stock (as several 8-k show).
Patrick Cox covered them in Mar2014 TransTech Alert, available via link at lower-rt of: http://www.originoil.com/investing