Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
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!
Crawford's answer...
https://drive.google.com/file/d/1Huqx76AArUUI4DOwi4_Ft321VSLDGGBy/view
All those extensions for time and he files 3 short pages that say he pleads the 5th, and asks the court to rule in his favor and give him relief.
Wow... That is the second most ridiculous answer I have seen in my many years of following penny stock scammers.
.
Amazing. They really are idiots. Normal business? Fraud isn't normal business!
They also submitted a incomplete accounting of the fraud in the 10-K. More ammo for the SEC.
Several recent lawsuits and they finally mentioned the SEC fraud suit though, no mention of the SEC suspension. And this...
ITEM 3. LEGAL PROCEEDINGS.
We are currently a party to lawsuits arising out of the normal course of business. The current status of each of the proceedings is summarized below.
Lol... SEC fraud suits are not in the normal course of business.
.
What a bunch of nothing. They admitted only the known. What a waste of ink. We didn't expect anything different. Its not like Tim can just not answer and Cardinal is ok. They need his responses. Cardinal is lying that they dont have enough information to answer these questions. They do. They are just attempting to play ignorant.
Now they file a 10-K??? Lol... It's of course waaaaay to late as they have already been suspended for delinquent filings.
https://ih.advfn.com/stock-market/USOTC/cardinal-energy-group-inc-CEGX/stock-news/80197347/annual-report-10-k
Cardinal filed an answer to the complaint.
This will never fly...
Well tomorrows the NEXT extension deadline. They have to be out of their 9 lives!
Oh... And they likely would not plead guilty to anything. In SEC settlement agreements it's “neither admit nor deny”, which is total bullshit.
.
Hopefully they do charge Crawford and his associates. Sometimes the Feds wait for the SEC case to run it's course...
AEHI is a good example of that.
.
It will happen. The FBI is back asking questions. The SEC is just the beginning, not the end. Then the IRS steps in etc....
The SEC can only bring civil suits. There can be no jail time. If they can come to an agrement, it would be a ban from controlling publicly traded companies, a fine, and disgorgement. How much is all over the map...
In order for Crawford to see the inside of a jail cell, he needs to be charged in criminal court by the Federal DOJ or a State Attorney General.
The Texas AG would be the best bet. CEGX victims should be asking them why that hasn't happened...
.
So couple months in jail in exchange for pleading guilty to 1-2 of the charges and a fine?
The system sucks. There should be no extension and definitely no settlement. It will open the flood gates to civil suites. No one has heard from Peterson because they told him to shut his trap.
Both Crawford and Cardinal filed a motion for an extension for time, till the 24th. They also say they are actively engaged in settlement discussions. That's the route most take, a slap on the wrist, and why there are so many of these scams. There is little in the way of punishment.
https://drive.google.com/file/d/1yXb1YJ6HDQIu6qm-JhDkzuJFid_xfxkb/view?usp=sharing
.
Not shocking... a fake office they only use when they need to impress people to scam money from them.
I did go into their old Abilene office building a couple weeks ago while in town. It looked like some kind of virtual office setup.
That’s true. I’m glad Tom’s lies and BS are catching up with him. Had anyone spoken to Gary Peterson or other Cardinal “management” recently??
Flight costs are cheaper if you put the trip out a couple weeks ??
That’s probably his best bet because is going to get bent over in court.
He's probably all packed up and headed to the airport for who knows where.
Classic Tim. He has excuses for days and takes zero responsibility. You think he would not take this so lightly. This is pretty serious to just ignore. He probably only partially paid the attorney or didn’t pay him the remaining balance. Lol
Crawford is late again. Nothing filed last night...
.
Waiting for good news??
.
Here I am, stuck in the middle again - waiting on news.
Eventually they have to file answers to the complaint or the SEC will ask the court for a default judgment.
,
At best they file another extension. We know they won't answer the complaint.
They still have a few hours to file the answer to the compliant, or possibly for yet another extension...
They have till midnight and I have seen them filled within that last hour.
.
Well today is the 1oth. Now what does Crawford and Ford do?
Its all about delay. They delayed answering investors for the same reason. Now they eventually won't have a choice. It's such a waste of peoples time, but these guys don't care. Taking advantage of the process.
Yep, it will be pointless. Sounds like JPRobins lawsuit against Crawford and Cardinal. Deny... deny... deny... and drag it on forever.
When we finally see the answers from Crawford, we'll think this took 4 months?? or 5?, whatever it turns out to be? Because it will mostly be "We deny the allegations in count 1", We deny the allegations in count 2"... Etc, etc, etc….
.
What a circus. At this point, it’s comical.
Crawford asked for another extension for time... Till June 10th.
https://drive.google.com/file/d/1ndbui1qP6Fl42AyO0QjpRv-dEh1OO1Nc/view
.
My oil scammer hired a previous lawyer and didn't pay him. His current lawyer is an idiot for representing him. It's in their MO.
It’s not a giant surprise. This is their MO for everything they’ve done in the past 2-3 years. They lie to buy more time and stall. Finally, their time is running out.
That could very well be...
.
It's common for these crooks to file late. And, it would show up on PACER within minutes of filing. They will likely file today or tomorrow, it could possibly be another request for more time too.
Agreed. There’s no way he gets out of all of the charges.
Probably. The other more likely possibility is he hasn't paid his bill! Maybe the lawyer saw the evidence and said forget it. Either way its a losing battle.
So he hired a big shot lawyer to file for and extension and then they miss the extension deadline? I wonder if it takes a couple days to show up in the online court docs?
Crawford missed the deadline. Nothing filed.
.
What a waste of their time. Just tell the truth and get this over with!
Nope... It could still show up later.
.
Extension granted...
Followers
|
159
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
19131
|
Created
|
09/10/12
|
Type
|
Free
|
Moderators |
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.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |