While one of this quarter’s most profitable stocks for many penny traders, CD International Enterprises Inc (OTCMKTS:CDII), continues to trade well off of its highs seen early last week, today, the stock has given these traders something to cheer about.
Shares of CD International Enterprises Inc (OTCMKTS:CDII) are up over 84% or $0.0076 in early trading, after reports indicate that traders have been able to contact the transfer agent of the company to confirm that the total number of outstanding shares within the market stands at just 86 million. While this number certainly seems to be in conflict with the tremendous volume seen within the stock over the last several trading days, as well as the CEO of the company claiming that there were 180 million shares outstanding, traders seem to be taking the news favorably.
Now the question is did the transfer agent, Colonial Stock Transfer Co, Inc., actually tell an investor that there are only 86 million shares in existence? Although we have seen two reports of traders who claim to have called the agent, we ourselves could not get through to them to confirm these figures. Did these individuals actually get though and why would the transfer agent state an OS which clearly seems to be inaccurate. Even if the OS figure was accurate, why then did the CEO of CD International Enterprises Inc (OTCMKTS:CDII) allegedly tell more than one individual that the total number of outstanding shares stood at 180 million?
While this could just be a misunderstanding or even miscommunication between the company, transfer agent and investors, we urge anyone considering an investment in CD International Enterprises Inc (OTCMKTS:CDII) to look more carefully at the facts. At the same time, if in fact the OS stands at 86 million or even 180 million, no dilution has taken place over the last five trading days, and the $350 million alleged copper contract is in place, this would be one of the most undervalued companies we have stumbled upon this year.