Courtesy of Benzinga.
The Street Sweeper released a report on Thursday raising questions on Miller Energy (NYSE: MILL).
TSS cites a connection with the firm Bristol, of which Miller Energy has agreed to multiple deals.
TSS writes, “Bristol, a firm…that caters to obscure penny-stock companies, has regularly provided welcome cash to desperate microcap players that wind up in serious pain.”
TSS also raised concerns regarding the company’s dealing with GunnAllen Financial, an allegedly shady firm, writing, “Miller relied on GunnAllen to arrange a critical joint-venture deal…Miller convinced Wind City Oil&Gas to buy $4.35 million worth of company stock and then allegedly blocked its partner from exercising an option that would allow it to reverse that deal.”
TSS also cites the Motley Fool, which has raised concerns about Miller’s accounting practices.
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