The Microcap Speculator submits: Rumor has it that Petrol Industries (ticker: PTLD.pk) is going to finally report its third quarter earnings after the bell tonight. I would call the company to verify, but the CEO has already lied to me twice on this exact issue. The first time was about three weeks ago, when he told me that the 10-Q would be filed "that night." Didn't happen. I spoke to him again in the middle of last week. CEO David Taylor again promised me that the 10-Q would be filed "that day." Didn't happen. As of 3:35pm e.t. today, the stock is up over 66% on the highest volume in two weeks. Does that reflect a market expectation that the company is actually going to satisfy its SEC filing obligations, and that the report will be good? I sure hope so.
Update: As of Friday morning, no filing. I understand that the business underwent a major transition but there are not that many moving parts here. How hard can it be?
DISCLOSURE: I am long PTLDE.OB. Not a recommendation to buy or sell any security. For informational and educational purposes only.
PTLD 1-Yr Chart