Penny Stock News: United States Oil and Gas Corp Names David Lindemann as Chairman of Audit Committee

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AUSTIN, TX – United States Oil and Gas Corp (OTCQB: USOG) (PINKSHEETS: USOG) is pleased to name Director David Lindemann as chairman of the Company’s Audit Committee. The Committee is accountable to the board of directors to perform and report on its oversight responsibilities. These primarily deal with the integrity of the Company’s financial statements and the Company’s accounting and financial reporting process, its accounting policies and practices, and its system of internal control over financial reporting.

CEO Alex Tawse commented, “David is a great choice for Audit Committee Chairman. His accounting experience and business leadership brings additional value to our corporate structure and governance. He will play a key role in our continued efforts to improve the efficiency and accuracy of the reporting process.”

Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.

The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.

 

Article source: http://houston.citybizlist.com/17/2011/5/13/United-States-Oil-and-Gas-Corp-Names-David-Lindemann-as-Chairman-of-Audit-Committee.aspx