GFOX Explodes on the OTCBB!
Gray Fox Petroleum Corp. (OTC: GFOX) started trading on the OTCBB at around $1 per share in mid-November 2013 fresh off the name change from Viatech Corp.
After hitting a recent low of $0.60 GFOX has exploded upwards on accelerating volume recently surpassing the stocks all-time highs of $1.15 hit shortly after it began trading. The recent eclipse of its all-time highs suggests the promoters are serious about round 2 here.
GFOX has been trading significant dollar volume due to the promotion by Tobin Smith from NBT Equities with a documented $270,000 budget. They are using hard mailers sent to US Investors as well as the landing page grayfoxpetroreport.com
According to their corporate website GFOX "is a publicly traded oil and gas exploration and development company focused on expanding the 135+ year tradition of Western US energy production.
The Company's West Ranch Prospect overlies structures and reservoir horizons similar to those that have produced a combined 50+ million barrels of oil in Nevada to date.1
With the West Ranch Prospect estimated to represent a total resource potential of 1 to 1.25 billion barrels of oil,1 Gray Fox is currently developing an initial exploration work program to further assess the prospect's resource and production potential.
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Its interesting to say the least that the promo has been in full swing for well over a week now and the Company has not put out a single press release.
According to the way, way over the top promotional material coming from Tobin Smith of Fox Business News fame "GFOX is sitting on a potential 250 million to 1.25 billion barrel oil discovery in Nevada. GFOX could be worth between $28.20 per share and up to $141 per share of potential oil in the ground – based on only a humble 5% recovery value."
Wow, Wow, Wow what a minute; there is nothing humble about these ridiculous and completely untrue projections. As per GFOX latest 10Q the Company has $6,289 in the treasury, no revenues to date and a history of losses.
Conclusion: GFOX started trading in mid-November 2013 a few months after the name change from Viatech Corp. Currently trading at a $40 million market valuation GFOX has just over $6k total in the treasury, no revenues to date and a history of losses. Short term the way over the top promo from NBT Equities could push the stock higher long term GFOX will drop and cause huge losses for anyone fool enough to believe the ridiculous projections referenced above.
OTCMagic also has a new secret report on GFOX, to get it subscribe to OTCMagic right now, also everyone should know, we have something HUGE coming!
Gray Fox Petroleum Corp.
SYMBOL: OTC: GFOX
Shares Outstanding: 35,460,000
Market Cap: $39,006,000
Gray Fox Petroleum Corp. (OTC: GFOX) was incorporated as Viatech Corp in 2011 under the laws of the state of Nevada. In June 2013 the Company changed their name to Gray Fox Petroleum Corp.
Formerly=Viatech Corp until 6-2013