Reconnaissance Energy (Africa) Ltd V.RECO

Stock in Death rattle

[Oregonduck]

Reco stock in comatose and on life support. Expect by the new year-end (March 31, 2023), the audited statements for the 15 months ended will show over $100 million in accrued delinquent royalties owing to Mexico. As of Dec 31, 2022, it owed $85 million. Reco is insolvent and bankrupt. Delaying drilling to buy more time. Sell what you can before the bottom falls off.  Stock going to zero.

[pacer001]

Mr. Duck I think most serious investers have long bailed on this dog and moved on. The $1  or so price is basically artificial and set by the market manipulators to hope to get some suckers in. The only way most investers will see some money is lawsuit settlements and they will only be a couple of cents a share if that!

[Oregonduck]

I agree that aggrieved shareholders would generally get little from any Class Action settlement. The best result is for SEC and DOJ to hunt down & seize the assets of the pump-and-dumpers & force them to disgorge their ill gotten gains and put them in jail. The Vancouver Scam Capital of the world is a cesspool for stock fraudsters. In the US, there is a compulsory agreed arbitration