So,, what's gonna happen now..nothing left from the company i assume??

KGLJ FINRA deleted symbol:

http://otce.finra.org/DLDeletions

HA Market Value $6,306 a/o Aug 28, 2014... a continued forever short hmmm... GidDy uP...

Date Short Interest % Change Avg. Daily Share Volume Days to Cover Split New Issue
Aug 15, 2014 4,305,000 0.00 0 999.99 No No
Jul 31, 2014 4,305,000 0.00 0 999.99 No No
Jul 15, 2014 4,305,000 0.00 0 999.99 No No
Jun 30, 2014 4,305,000 0.00 0 999.99 No No
Jun 13, 2014 4,305,000 0.00 0 999.99 No No
May 30, 2014 4,305,000 0.00 0 999.99 No No
May 15, 2014 4,305,000 0.00 0 999.99 No No
Apr 30, 2014 4,305,000 0.00 0 999.99 No No
Apr 15, 2014 4,305,000 0.00 0 999.99 No No
Mar 31, 2014 4,305,000 0.00 0 999.99 No No

I'd tried to get people to do that back when it would have been relevant... but, by now, there wouldn't be a point.

I tracked the assets as they were being vended, for a time...

The players ? Don't know about JP. Mr. White lost his seat on the board at Heritage... and then went dark. Heritage has now rolled up into a new trading vehicle... which is itself in the process of going belly up... given it cost them 10 times more to produce a barrel than it was worth... happened across that thing yesterday...

Heritage was pretty much a scam, too... as were most of the "deals" and other stocks those involved there were associated with...

As it happens, I've run across what appear to be the same assets being revended in another "market opportunity" a couple of times... including one today that sounded awfully like the same leases that were being pitched through KGLJ...

'harpdog' I think it may just be good money after bad.

why can't people like this be held accountable? can't the stockholders get together and file suit? are you with me if i do?
anyone else?

I just called James Pagnum and some lady has that number now. It was still his up until early this year. I imagine he got tired of getting my nasty grams. What a scumbag he turned out to be.

again, is there any possibility of a class action suit or
should i bury this one, too?

This is odd...

http://www.sec.gov/litigation/admin/2010/34-63369.pdf

Seems "Sport of Kings" just won't die... with the SEC still working at trying to kill in Nov 2010 ?

Should I? Is James Pagnum on there?

Anyone note any familiar names on these lists ?

http://www.dailymail.co.uk/news/article-1348951/100-suspected-mobsters-arrested-biggest-crackdown-New-York-mafia.html

anyone interested in a class action suit?

Thanks again!!! EOM

Charts show 4.3 million shares traded at $0.005 yesterday.

Otherwise, I haven't a clue...

I think the properties did get sold off by White in what looked like an obviously shady if not entirely criminal deal. Never was disclosed what "deal" it was that got made that had the properties revert back to being owned by White instead of KGLJ. The terms of the sale showed that achieving "production" on a well required completing the transfer of the property ownership to KGLJ... so, given wells WERE completed to production... as confirmed to me by White himself... the producers became KGLJ owned properties.

I'd learned a while back that the properties had been offered for sale again by White after the wheels came off on the STOCK... without White ever having disclosed that there had ever been any other owner... so, he MADE the deal to put the properties in KGLJ, and he was responsible for putting KGLJ together in the first place, and was responsible for getting the illegal shell that was being used for trading the ownership interests in KGLJ, and then he tried to sell the properties off to someone else while blatantly misrepresenting them... as if he'd owned them free and clear all along and had never done a deal with KGLJ ?

Blatant fraud... not only in the STOCK given the use of the illegal shell... but also in the apparent effort to steal the properties from the company and to misrepresent them in re-vending them to someone else...

White had to pay something to KGLJ to get the KGLJ owned properties back...

Maybe he did... and then JP took the money and ran ? Or, maybe he didn't, and the whole thing was just a total fraud from start to finish ?

White apparently did get kicked off the boards of some of those other companies he'd been associated with... and the RRC did force him to register for a time...

I haven't checked up on the situation in a while...

Might be worth doing a look around again soon ? Maybe the SEC or the state are still poking at it ? I don't remember hearing what came of it after the indictments... ?

Hey Downsideup, My Zecco Acct. is showing .01 and I can't find any information as to why it's showing this!!! Do you know what's up with KGLJ? Thanks

Hopefully there is something getting resolved regarding this stock!!!

what happened here with the pps ????

Think this thing will ever see the light of day? If this company was a complete Scam, then where is the Justice and Accountability!!! I have held onto this stock because I thought our Justice system would seek out the guilty and possibly find some compensation for shareholders. I know this is a Pink Stock and nothing is guaranteed, but up until the halt, I felt Kingslake was on the path to building a profitable company. The area they were drilling has produced alot of gas and some oil for many years. Any insight would be appreciated!!!

It appears the SEC has an active and continuing interest, and that they have succeeded in unwinding at least one layer of the onion in the fraud practiced here.

I will be surprised if they do not pursue this beyond the single layer being addressed now.

Downsideup, Thanks for the periodic updates. I guess this will just take more time to work itself out!!! Is the SEC or another Gov't organization actively working on this case? I still have all my shares and will hang on to them til this event gets resolved. Thanks again

I think it is obviously the case that the KGLJ "vehicle" was and is damaged by the probably knowing effort made by JA White in choosing the fraudulent shell that he did... and then making the legitimate deal to put the legitimate assets into it... that I think are still properly KGLJ owned assets.

Of course, the REASON to choose a known flawed shell is obvious... to allow "it" to fail for that "external" reason, and then allow the SEC regulatory action to close it down FOR YOU in order to limit your liability... while you shift the assets out and skate away to do it again with another... while letting the bagholders who got caught up in the shell game to take the heat ?

How close do you think the associations ARE between the various players there and here ?

I STILL don't think that the scam is going to work out for them, here... given the paper trail... and other things.

I described the available choice in paths a long time ago...

Given what the shares represent, even if they aren't legitimately trade-able... I'll not ever sell a one of my shares in KGLJ until the assets are returned and this gets "fixed", or until JA White pays me for my portion of the interest in them that I think is my right... one way, or another. I accept he gets to choose the path.

He's got my number. Maybe I changed phones since then. Maybe I ought to give him a call, again.

I do still want to know what the limits in responsibility of the various minor actors here ARE, but I also don't think having the bonafides of the stock held in question in any way alters the fact of the obligations made to those who bought them in good faith. The shares themselves were a fraud... but the virtual reality of the company and the physical reality of the assets, the things the shares represented, were not... even if the management that put it together ARE criminals... the obligations the shares represented remain intact.

I am curious, too, about the FACT that some brokers have continued to trade the shares, even KNOWING of the fraud being conducted in them ? Who made and who was benefited from those trades ? Why is it the SEC seems not to care ?

I forget now what I judged the shares "should" be worth given the assets they held. Given that the assets have been sold under the conditions they were, I don't think the sale price likely reflects a fair value for the value that has been removed from me. I expect I will continue to work to find a way to get that value back. I expect it has already cost them a WHOLE lot more than it ever would have cost them to settle with us on a fair deal with KGLJ shareholders... and I expect it may cost them a WHOLE lot more, yet.

JMHO

It still looks like the indictments here really only address "one element" of the problems we saw here... tied to the generation of the shell.

I don't know about the other, what was it, a total of 26 in the first go, and another 17 in the next ?

We still have issues unresolved here, that "seem" to be unique to the effort. I verified the value of the assets, here... and I noted the efforts as they were being made to dispose of them, and pointed out it was not true that there was not a dispute about the ownership of them as they were sold. I think there is title risk the new owners knew and accepted.

I think there is still an issue or two for JA White to be called on to address... and, where's waldo ???

I do note White now maintains a registration with the RRC that he didn't used to have. I note he ended up leaving a few board positions he used to have.

It still looks to me like they quickly postured a sham sale of the assets from KGLJ back to White to allow him to dispose of the OWNED assets. Totally bogus... particularly given that White was a KGLJ fiduciary... and his purpose in forcing the sale was to TRY to avoid liability for the things we see coming, now...

Whatever the SEC does with the shell collectors who have been indicted, now... that isn't looking like it creates any "limits" in liability to be addressed here.

that is a thought , hadn't occurred to me before , might have been several with several alias's each pumping this as it went !!!!

"...and Names Two Relief Defendants"

What does that mean, do you think ?

And now, it is so quiet here...

Maybe some of those indictments went to people who were posting here at high volume in the past ?

http://www.sec.gov/litigation/litreleases/2009/lr21243.htm

http://www.sec.gov/litigation/litreleases/2009/lr21243.htm

With the profits I'll be taking down on WNBD, time to sell this POS for a loss GL

they might be the same ??? wouldn't that be a surprise !!!!!!

I wish!!!!!!!!!!!!!

Haven't...

Anyone have a sighting on JR ??? Uhhh, JP ???

hey downsideup , happy trading to you , have you heard anything new or progress on this co. ?????/

the ticker remains so I assume trading is legal , !!!

I keep calling and leaving messages.

where oh where can they be ??? wish this was happening !!!

I called JP and left another message. His cell phone number is still active, I don't know why though.

In case you would like to tell him how much you miss him, here is his number again: James Pagnum 210-825-4126.

never been talked about to much , but it appeared in the past as if the ticker was supposed to have been retired but wasn't , so was sort of appropriated by "others" ,there are a lot of tickers still with occassional volume that it is said that they are still there because there exists a large fail to deliver , possibly cause they were shorted to nothing originally and as long as the ticker is still there the one who shorted does not have to declare the profit and pay taxes , I think I said all that right !!! imo that is what the condition of the ticker KGLJ is !!!!!

Does 1000 shares at $0.00 count as a trade ? Someone just had an unmet urge to pay a commission? LOL!!

I don't think actual trading in KGLJ is even legal, is it ?

OMG A trade!!
Say it isn't so

hope everyone is doing better in the new year , nothing here for awhile , except patience !!!

Here's a perhaps relevant link:

http://www.sec.gov/litigation/litreleases/2008/lr20662.htm

Isn't that the same guy who was behind the "Sport of Kings" scam that turned into the de-registered shell of Kingslake ???

***DONT BOTHER***

Every Penny put into this company will disappear into that magical crack in the ground.

I live in San Antonio, i have visited this place over 30x trying to catch the theif in his office... but hes NEVER THERE. I have talked to the lawyer he hired to do the SEC crap, and he completed it along time ago, just never got paid to submit it, so he sat it aside. Since then he hasnt heard from him as of Jan 23rd when i called him again. This is going no where its best that you just right it off as a loss for taxes. I sold this awhile ago and plan to use it to try and break even with my gains.

This is my final post/visit to this POS i hope you all the best in the realm of penny stocks!

MadMoney

How's my favorite POS stock doing today. No posts for 1/2 month thought I'd break the ice

That is one question... but it probably isn't the one that matters. The questions that matter more are about the value of the assets and HOW that value and the assets themselves were stolen from shareholders with the regulatory agencies not simply failing in preventing it, but actively assisting in the effort. The effort in the manipulation of the stock here was merely an element in executing the larger scam...

The stock component was obviously designed fully intending to have the stock fail... enabling the thieves in enlisting a cooperative SEC as an integral part of the operation of the plan... with the failure of the stock then only being used to help provide cover for the fact that the assets were being stolen.

I don't really CARE if the stock ever trades again. I DO care that the shareholders be made whole... and that obvious problems with "the system" get fixed... whether that is merely incompetence, or something more nefarious, or a bit of both.

Were the primary enablers and participants in the scam to go to jail, that wouldn't particularly bother me, but... there are a few other questions here to deal with, too... that include some fundamental issues with the nature of the government effort in oversight and the abject failure of the regulatory functions to get anywhere close to meeting their responsibilities... and in fact to have done more to facilitate the crimes than prevent them.

Right now it looks like the SEC was a participant in the execution of this scam, not an effective agent in safeguarding either the investors, the public or the market function. I haven't determined yet whether that is true as a function of purpose, with actual criminal activity taking place inside the agency intending to enable these efforts, or "only" in the sense of the agency being duped, or if it is merely an obvious expression of their incompetence...

None of that really matters, either, I expect, until Jan 20th and beyond...

the question is >>>> will it ever trade again ??? thats is the question .

Maybe they are operational, but they are not doing any thing to make this look alive.

Also, what about the website ? communications ? ...

GTLA that have put trust in this venture.

You must have a fairly generous definition of "operational"...

All I see here was that "they" WERE operating a deliberately structured stock scam paired with an equally deliberately structured oil and gas property scam... and got caught in the process of conducting both, when they intended only to get caught in the one... the stock scam.

The authorities do appear to have decided to do something about it... it just isn't at all clear to anyone yet how far that decision to act might extend... or who will be acting and who will be at risk because of that action... or the lack of it.

We know "action" extends to the SEC suspending trading in KGLJ because of the stock scam being operated... the failure they intended to have happen, to be able to use that to insulate them from the risks of the other frauds being conducted... but we don't know how far beyond KGLJ the authorities are looking, or how that might influence anything related to any residual values in KGLJ.

It is useful to note here how the expectation of SEC action in the enforcement efforts applied to an "easy target"... the fraudulent stock registration... was used as a deliberate "throw-away" part of structuring and conducting the larger fraud from the start... in effect making the SEC a complicit partner in the conduct of the fraud and its cover-up... by using the enforcement effort directed against an intended target as a tool to limit the risks in exposure of the REST of the fraud... giving them the easy "throw away" to act on... KNOWING ( ??? ) they'll over-look, and ignore, the rest ?

I'll leave it for others to judge whether and to what degree that element of agency complicity is... provable... either provable as a deliberate element of external planning in structuring the fraud, or provable as more.

My nutshell version includes that there HAS to be full awareness on the part of those who DID structure it... because the REASON for the SEC concern and the trading halt was an obvious fraud in the share structure using a mob-related permanently de-registered shell as the trading vehicle. An EASILY traceable fraud HAD to be committed in somehow "converting" a permanently de-registered shell into an actively trading company... as that didn't happen by itself.

I see that as the most "obvious" of the "purposeful" frauds... one they quite deliberately committed intending to have it be exposed, as the fraud in share structure was intended to be caught... on queue... in order to be able to USE that fraud to force the "failure" of KGLJ as a fire wall. They used that failure based on a problem in the registration as an excuse, so that pulling the plug on KGLJ would leave bag holders, on that basis only, as a device to distract from the OTHER frauds that were committed, which the "failure" based on the fraud in the registration was designed to cover... and thus allow.

They wanted you to think the fraud included that the assets weren't real... leaving them to continue the scam in the illegitimate transfers of the assets... with the result that KLGJ shareholders paid to acquire and develop the assets which were acquired and developed... but then somehow KGLJ ended up not owning the assets they had paid for and developed... because of the problems in the stock registration ?

The "real" fraud is not related to any problem with the stock registration, but is in fraud in the transfers of assets...

"Mr. White" of NAFG, also of EGYF, MGWSF et al, who signed all the documents forming KGLJ... and who also signed the leases with KGLJ as operator... seems in fact to be the primary operator with responsibility in ALL parts of this... not just ONLY in the operation of the fraud based on the fraudulent registration, for which it appears he must be primarily responsible only as an obvious function of timing... ???

My opinion, based on what I see, is that Mr. White is most likely the one with primary responsibility for structuring the company with the flaw in the share structure, and is also the only one who COULD be responsible for a failure of NAFG to comply with the terms of the KGLJ lease agreements, that had the gas properties become wholly owned KGLJ property when the wells were developed to the point of production... which they were... and yet they are not KGLJ properties now ?

The combination of two instances of fraud and the self dealing makes it pretty hard to look anywhere else for the links to primary responsibility in regard to other issues... insider trading and manipulation of share prices... etc., which seem obviously involved as elements in a far more broadly structured multi-layered plan...

"They" sold shares at inflated prices in private placements, and then shorted the stock into oblivion before the restrictions were lifted... all of which had nothing to do with anything related to the development of the operations... save for that it makes it fully apparent that there was never any intent to have the SUCCESSFUL development of the assets remain as a benefit that would apply to KGLJ and KGLJ shareholders. All of that makes it hard to see how the fraud that is obvious and provable could NOT be connected to the larger patterns in trading. If the SEC can't see that, they must be blind, or blinded, for purpose... and if they don't have an interest in fully resolving all aspects of the fraud, and protecting shareholders and the integrity of the markets by restoring the physical values that were stolen from shareholders, then the SEC is in FACT complicit in the conduct of the crimes seen in larger context, as well as in enabling them.

That White subsequently mis-represented the ownership of the assets, or at least the ownership history of the assets, in attempting to sell them again to others... is interesting...

I find it hard to believe that I'm able to determine the truth of all of that with a few phone calls... but the SEC and the FBI aren't able to figure it out ?

Post-January 20th... we will see...

they are still operational.
I still call them from time to time

Mine shows it up 4900%... LOL!!!

20$ geesh !
Barely alive, not much to understand here, LOL !!!

What is left from this Company? aside that it was a big HAM...or scam...
and that myself lost money and did not write yet the tax
write off because legal actions might be taken against KGLJ.

Justice takes time.