HPGS Execs are utterly failing their investors and shareholders... Even debt holders should be gravely concerned at the utter lack of transparency.
Here's the facts as I know them:
HPGS was granted (apparently by the grace of a commission that has zero faith in Ed Presley) 120 days to turn some wells on, transmit NG, take care of bonding issues and easement/access issues.
To date, HPGS IS WORKING towards the afore mentioned list of items they were given 120 days to do. Despite efforts towards these goals, investors, and shareholders of every class of shares are NOT being given any hard evidence of such activities via a simple Open Letter to Shareholders or a Press Release. An appropriate Press release should be detailing bonding issues, transmission contracts, idle well counts, etc.
Ed Presley seems to have a "I don't owe shareholders anything because they were shareholders under the Hettinger/Hargett/Miller rule"...BUT THATS NOT THE CASE!
Fact is, numerous retail level and institutional level buyers have taken stakes in HPGS POST previous exec team removal. In other words, people took up faith in HPGS since Presley and his executive team took over AND PRESLEY is failing all of them.
With zero contact response from their web page, investors are forced to sit idly by as the stock dives from recent, encouraging highs back to sub penny level...or they can contact the one person anyone has a number to: Bob Mitchell @ (720) 226-1031.
Mr. Mitchell appears to be a straight shooter and it's encouraging that he's receptive to investor questions. That said, it's important to note that he is NOT Investor Relations. Since he is not I.R. investors should be wary and conduct their own due diligence post any conversations with him.
I personally believe that HPGS has a seemingly overwhelming and nearly impossible task ahead of them. Saddled with debt, no known revenue, a GAZMO that most don't believe or otherwise know works...and a CEO who's got virtually NO KNOWN capital markets experience ... Huge headwinds...serious...HUGE headwinds... not to mention all the ranchers, property owners, contractors etc WHO WERE SO BADLY BURNED BY THE HETTTINGERS that they seemingly are refusing access to wells to turn them on.... Sheesh... To say there are headwinds is an understatement.
Ed Presley and his team... Can they pull this off?! Nobody knows...in fact...people who know the industry and the sentiment in Wyoming overwhelmingly rejected Ed's plan...but they got 120 days in spite of themselves.
Ed needs to become vocal with investors of every class. He needs to let the Press Release dog off its leash. I'm not advocating a pump and dump...I'm advocating legitimate transparency.
Until there is transparency here, HPGS stock will continue to fall, investors of every class will leave and HPGS will lose the only thing it seems to have going for it: Investor Capital.
Two things are certain:
1.) if they pull this off and generate the revenue/profits they've discussed in commission hearings and news articles, this stock will soar.
2.) if they fail, investors of every class will flee, or take incredible losses on HPGS common shares, Preferred Shares, and all Debt Instruments.
At this rate...none of those two certainties will matter because if a tree falls in the woods, and no press is released by the CEO about it...will anyone even know it happened?
Get off your hind quarters Ed! Quit being a lazy, or selfish, or stupid CEO and get investors some information. You need our capital...any way you slice it, you're a Publicly held company and you need your investors capital for better balance sheets. Get off your backside, stand up, glove up, and quit being a CEO on paper only.
