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...
