Bayport International Holdings Inc. (BAYP)

[DragonBear]

They "bought" those wells from UNGS with a note due 7/31/15 and they didn't make that payment.

Oh my, Porter missed an ethical payment? This sort of fits the BAYP business model where all acquisitions are for FREE! If you buy sumpthin, and never pay for it, then it really is FREE, until payment is due. After which, it no longer exists as an acquisition. And a non-acquisition could also be said to be FREE, as it costs nothing to obtain.

they must have realized the wells were worthless and refused to honor their agreement.

Eh, it was never worthless. For example lay down the Trans-America pipeline from Pennsylvania to Oklahoma. LeRoy could pay for it. Where you pipe the pure refreshing recycled Shameberg frac water, and pump it into the Okie wells for "aging". Then later on bottle it up for distribution as an energy drink containing hemp oil, along with the leftover crap seeping from the well walls. Hay, oil is oil, and floats equally "well" in aqueous solution.

So what is UNGS going to sell BAYP next?