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I just don't understand a settlement. They have stolen money by lying and continuing a fraud. The SEC saying they can't trade again is ridiculous. It still won't protect them from upcoming criminal and civil suites. Thanks TD.
Extension for time... Seems the SEC and Crawford are still working on a settelment.
https://drive.google.com/file/d/1E7YdxEF5u13yVeHqVFieeXdTUDHuRPz_/view
And final Judgment entered for CEGX today.
https://drive.google.com/file/d/1A4kxGk7FGpzLC77BW7n-F27cfcSxmMqN/view
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We need the FBI to step up.
No surprise. This doesn't remove Crawford and others from criminal and civil liabilities. The company will never operate again. Ford and the clan will stay off the grid. I am just waiting for the SEC to finish so I can refile my lawsuit and additional ones. I can now have access to the financials and compare them to the truth. Right now SEC is only hearing CEGX's side. Once we put more info in their hands new charges will be filed. Its not over yet.
Judgement... Typical SEC consent judgement against CEGX with no real consequences. These crooks and companies they run, they get off easy all the time and the reason why there are so many of them. They're everywhere.
https://drive.google.com/file/d/13lfV4Voa9c1fqobj8ZIy_JU2gYaghE6p/view
Still waiting on the SEC's next move against Crawford...
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Buyer Beware
SEC busted Grey Market scam
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Agreed. The charade is finally up.
We won't hear from them again. They knew the truth. Now busted.
Shocking.... where is Gary Peterson and AFLAC Dan on this one? I wonder if they are going to still tell everyone how excited they are about the company? Or how they are “crushing” it?
News... CEGX registration revoked. See Renee's post.
Yeah... Dead private SEC busted scam.
Takes care of that... Thanks
CEGX registration revoked:
https://www.sec.gov/litigation/admin/2019/34-86815.pdf
Haven't heard anything. I am sure we all agree its a dead company and no chance of recovery.
Pretty quite around here. Even the “we gon fly high” crowd is silent. Anyone heard anything news worthy?
Let’s hope so. Tim has some major issues.
He definitely will on both. Tim won't be the only one that gets charged either.
He won't go to jail. He probably won't even be prosecuted.
He's going to jail for sure lolol! This is great news
Slowly is an understatement. However, its not like Cardinal/CEGX, Ford, Peterson or Crawford are fully cooperating!
They move slowly. Sometimes not at all. One of the reasons there are so many scamming thieves in penny stocks.
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Yea, maybe a bit of patience might give rewards. Let's hope for a progress play soon, even if rather slow.
I haven't heard a peep in forever. When will SEC conclude this disaster?
Its been so quiet. Any idea on next steps? We know CEGX is over, but what about the charges? How long will it take for the SEC and FBI to move forward?
Google CEGX, SEC...
Once this ticker gets noticed, it should really fly. Gonna be interesting to see if any news comes out!
I am sure it was an attempt, but they proved a long time ago they are incompetent. Thieves yes. Competent no.
No... It's waaaaaay to late for filings. I don't understand why they did file those, they will just be more evidence for the SEC. Those fillings are obviously in conflict with what the SEC has charged. Was it to try and prove their innocence??? Their lawyer must be an idiot...
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still a pulse left, since the 10-k 06/24/2019 filing , not promoting, less than 50k/ shares traded since grey,
What a joke of a company/management
Then its dead forever. Hopefully they will continue with the criminal charges. I know civil suites will be filed.
Nothing since 6/24... I'm expecting a motion for summary judgment to be filed by the SEC, one of theses days.
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Any new info TD?
More like extinct! You would think Ford or someone would at least put out a statement. If they were legit they would. Hey maybe Dan can tell us exciting things are about to happen, he just can't say right now. They are all super losers!
A reminder... The SEC has filed a securities fraud suit against CEGX. CEGX was also suspended by the SEC for fraud and delinquent filings and now trades on the Grey Market.
Looks like we are hibernating here while optimistically waiting for good news.
They are arrogant idiots. This isn't Tims or Cardinals first scam, but also not the first time the SEC has encountered scammers. Their responses were expected.
I think the SEC will be amused by the 10-K that was just filed. "New management" and Tim Crawford apparently think they are smarter than the SEC attorneys.
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reading this again is even more sad.
For reference to the "answers" filed by the CEGX defendants... The SEC complaint
https://www.sec.gov/litigation/complaints/2019/comp24427.pdf
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Now that the $1 million dollar question!
They are a complete embarrassment. Their "responses" show they are liars and raised 1M based on assets the company did not own. All of the lying, liabilities, losses, lawsuits, and federal investigations. Who on earth would touch them with a 1000 foot pole? I'm embarrassed to ever have been associated with the Cardinal. I still don't know why the new management would not have tossed in the towel a long time ago and started a new entity.
Yes worse than Cardinal's response. They took months to respond to questions we knew the answers too. Do they really think the SEC will say, "we are good, carry on". What a bunch of idiots. How embarrassed must they be to face their families? Not even their families can respect them now.
Thats an understatement!
getting over-due,,,
The telling moment will occur when they release some good news. It will either bomb or shoot up. I'm hoping for a better scenario.
What a bunch of morons. They sat on that 10-k for months, which finally shows how bad of shape the company is in and all of the lawsuits. Why on earth would anyone give Cardinal money for future projects? According to the 10-k Tim was trying to pay himself 300K per year when the company’s oil revenues were like 50K. Lol!
Haha! That took buddy Tim a month for that response. Why on earth would the court rule in his favor?? Wow!
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Cardinal Energy Group, Inc. is an environmentally responsible independent oil and gas producer focused in north-central Texas. We are engaged in the business of acquiring, developing and operating oil and gas leases. These operations are primarily focused on properties in which we hold a leasehold interest. We may however, from time to time, offer our drilling and field development and production services to third parties. We may offer these services to other oil and gas companies on a fee basis or we may offer such services in connection with the offering of participation interests in Development Drilling Programs to accredited private investors. We are focused on growth via the development of shallow proven undeveloped reserves in or adjacent to currently producing fields, exploiting untapped â??behind the pipeâ? reserves by re-completing existing well bores in zones overlying currently producing formations and by the selected application of water flood and other secondary recovery techniques to mature but marginally producing fields throughout north-central Texas. We may enter into agreements with third party mid-sized and small independent oil and natural gas companies to drill wells and own interests in oil and natural gas properties. We also may drill and own interests without such strategic partners.
On January 5th CEGX filed an 8k giving majority control to Meyers and Traina....:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11768738
Check out their website:
http://www.meyersassociateslp.com/
On December 29, 2016, Cardinal Energy Group, Inc. (the “Company”) filed a Form 8-K in which it reported, in part, that it had 95,429,557 shares of common stock issued and outstanding. On or about December 30, 2016, the Company issued to each of Meyers Associates, L.P. (“Meyers”) and to Gregory R. Traina (“Traina”) 150,000,000 shares of its restricted common stock in connection with placement agent and other services rendered to the Company, resulting in a total issuance of 300,000,000 shares of restricted common stock.
The issuances of the above shares were exempt from the registration requirements of Section 5 of the Securities Act of 1933 (the “Act”) pursuant to Section 4(a)(2) thereto not involving a public offering. Following the issuances and as of the date of this filing, the Company has a total of 395,429,557 shares of common stock issued and outstanding.
ITEM 5.01 Changes in Control of Registrant.
The issuance of the 300,000,000 million shares of common stock described in Item 3.02 above results in Meyers and Traina, collectively acquiring voting control of the Company, holding 59.36% of the voting power of all shares of capital stock outstanding. After the issuance of the new 300,000,000 shares of common stock, the Company has 395,429,557 shares of common stock and 1,000,000 shares of Series A Preferred Stock issued and outstanding, respectively. Each share of Series A Preferred Stock has voting rights equal to 110 votes per share. As a result of the transaction, the total outstanding voting power of the Company is 505,429,557 shares, with the new 300,000,000 shares of common stock representing 59.36% of the voting power of all shares of capital stock outstanding.
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