Pacific Energy & Mining Co (PEMC)

[lytnup]

I'm sure you are aware of the symbiotic relationship that exists between PEMC and WNRC? Dan Green (President, CEO WNRC) is the VP & secretary of PEMC; Tariq (President, CEO PEMC) is the COO & secretary of WNRC. WNRC has acquired assets from Tariq (NGEN Solutions, Satview Broadband), and PEMC has acquired assets that Dan Green had interest in (CUNG). It is pretty clear that the only ones making out here are Tariq and Dan, and not their shareholders. They've benefitted from the price of oil, and have been able to fund their whims with revenues from PEMC.

But investors should not hold their breath for either of these guys doing much in the way of increasing shareholder value.