Hot Tip. Dan Wilmer, a small businessman, was facing a cash crunch in business operations at his
Question:
Hot Tip. Dan Wilmer, a small businessman, was facing a cash crunch in business operations at his company Always-Behind-You Trailer Sales. He is desperate to locate a source of short-term financing or cash to be able to pay his accounts payable for the next 30 days. His bank will not lend him anymore money in the short-term. Yesterday, he received the following e-mail.
\section*{\& सЕDING CZNTR}
HRWS WAS RETIEASED AFTER THE MARKET CLOSE WRTCH SBRX.PK LIKE A HAWK I! THE AIRRT IS OW! !
TRADIWG ALERT Stonebridge Resources Explorations, Itd Acquisition, development, exploration, and production of crude oil and natural gas Syrobol: SBRX, PK Hext Trade: \(12.4 \%\) UP \(\uparrow\) KBEp A.R BYE OR IT IS THERE A HOTTER SECTOR TO TRADE?!! IS SBRX ON THE VBRGE OP A "MONSTER MOYB? IS IF GOING TO BREAX OUT?
THe YEWS: Go to Your Favorite Financial website and Read The Eull story Right Now Stonebridge Closes First M.0.0.!!!!!
Stonebridge Resources Exploration, Ltd. has completed three of the 4 wells located on the Rwing B lease property in Kansas. The three re-worked wells are each producing \(15 \mathrm{bbls}\) of oil per day. Its focus has shifted to aggressively acquiring working interests in crude oil and natural gas properties. The company lintends ta use wodern development method along with smproved drilling technologies to incresse well produd RADAR IT FOR MARKET OREN HOW' GO SBRX '1!!!
Dan has a small amount of cash, and he has called you, his accountant and financial adviser, to ask what you think about the possibility of investing in Stonebridge Resources as mentioned in the e-mail to make a short-term killing on this oil stock. Provide Dan with a short memo regarding this e-mail tip.
Step by Step Answer:
Forensic And Investigative Accounting
ISBN: 9780808021438
4th Edition
Authors: Larry Crumbley, Lester E. Heitger, G. Stevenson Smith