Energulf Resources Inc. ENGFF

Out of funds and delisted.

[Beenburned64]

So many venture companies end this way. The stock drops from dollars to pennies with private placements at progressively lower valuations along the way as managent keeps furnishing themselves with a nice salary and they string along shareholders with periodic news releases to keep waning hopes alive. Eventually the share price is so low that it becomes impossible to raise enough money to advance any sort of project and then comes the delisting. It all seems liike an elaborate scam carried out over many years and leaving countless bagholders in the lurch. To add insult to injury sometimes the key players leave the carnage behind and start another TSX venture company. New name, same game and the cycle goes on.