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.
Did Crawford respond today?
Yep, it’s very piss poor and unprofessional all around.
Thats all they have done since I have been invested. Excuses and lies. They can't even enter a response on time! They just dont want to go to jail so I dont blame them.
It’s almost as if everyone calling out Cardinal forced them to hire an attorney last minute. Tim and Cardinal have nothing going on. All they are doing is buying time.
7 weeks late and Cardinal has an attorney file a notice of appearance... And ask for an extension of time to answer the complaint to June 17th.
Anybody know the name of this claimed sick attorney?? They neglected to give a name, and there has been no other notice of appearance for Cardinal. I don't buy it... But I'm sure the court will let it slide as the SEC does not object.
Notice of appearance:
https://drive.google.com/file/d/1pOOZObsBoKeKQQPBJD3j1hMoM6rMssrh/view
Extension for time:
https://drive.google.com/file/d/1vxcRHTggVrbB_DJR3qpxblB4f5Z7uyDx/view
/
I am sure he will do anything he can to escape. If I were any of his business associates would be worried because he will sell everyone down the river to take care of himself.
According to the SEC suit against Tim and Cardinal, Tim took "at least" 50k from the fraudulent 1 million they raised based on Cardinal still having the Bradford. Lol. I have no clue how that guy has any money unless someone is giving it to him.
He will likely settle with the SEC.
.
I would hire the best as well if I were Tim. Its his only way out. Even this guy won't be able to get him out though. Tim made a major mistake of talking too much and leaving an extensive paper trail.
It looks like Crawford has a pretty good lawyer, and not cheap... Crawford must still have some cash stashed.
https://www.bna.com/axelrod-david-m17179891994/
.
I’m looking forward to watching Timmy soil his pants in court.
They would also notice that this ticker is by, SEC suspension, on the Grey Market. And, is an SEC busted scam that has been sued by the SEC for securities fraud...
https://www.sec.gov/litigation/suspensions/2019/34-85354-o.pdf
CEGX has not responded to this SEC suit and doesn't even have an attorney to represent it...
https://www.sec.gov/litigation/complaints/2019/comp24427.pdf
Revocation of the CEGX ticker coming...
https://www.sec.gov/litigation/admin/2019/34-85353.pdf
.
Buyer Beware
SEC busted Grey Market scam
..
Any news will be bad, if it wasn't bad enough already!
Once this ticker gets noticed, it should really fly. Gonna be interesting to see if any news comes out!
I think everything he did was paid for illegally, like his trips and expensive cars. They will let the forensic accountant dig in. I don't think it will be hard to find co-mingling of funds it will just take a long time because how extensive it is.
That’s hilarious. Let’s be honest financial genius Timmy has nothing to do except call ppl and ask for money. He had ample time.
I wonder if his “renovated” house, that the Bradford project paid for is for sale?
Thanks TD for update. Extension to June 3rd just delays his conviction! More time out of jail! There is no way Crawford can defend this. His attorney is regretting taking tis case. He better have asked for a retainer because Crawford has no money!
Crawford asked for an extension to file an answerer to the complaint... 60 days wasn't enough time.
The bullshit with the court starts...
Doc 8
https://drive.google.com/file/d/1Izc7SVZXMw8QGsE9JVmYKBadqp_lmGc2/view
.
Its sad that they cant even respond to the summons. I think that says it all. They are outta here. As I have said before, we will see who goes down with Tim. It wasn't just him pulling off this fraud. Others helped and many knew and did nothing.
Too bad no one stepped up the plate and threw down a bet. A month ago you were being called a liar. Who is lying now?
Killan's Irish Red for anyone wanting to pay up!
Well, looks like I would have won the bet! I am not surprised. These guys are nothing but morons and thieves. New management and their accountants are no different. They are just protecting themselves.
Still zero filings, no financials and crickets from management. Lol!
Does anyone still believe the BS??
What a bunch of losers and they don’t have an attorney?? Wow, that’s all you need to know.
Yes it will be complete silence from them. All the lies from them telling investors "any day now". That will be used against them as misleading investors. There was never any day now.
Nothing filed... They still have a few hours to be within the 21 days, midnight tonight. But I really doubt it happens. They could also file for an extension, though there has be no notice of appearance by an attorney for Cardinal Energy. Cardinal Energy doesn't even have a lawyer representing it in this case.
The crooks have left the company for dead. They will use the resources illegally gained to only defend themselves.
.
Buyer Beware
SEC busted Grey Market scam
..
3 more days....
LOL, that is slightly understated!
CEGX management needs to improve their performance more.
LOL. Lets just say no comment or info of substance!
Don’t they need to respond by May 16th?
Agree with that. They are scared not just of the criminal charges that will come, but the massive number of civil suites. Its not like they have any D&O insurance. Who accepts a legitimate CEO or executive position and doesn't have D&O! Tim and Cardinal won't survive the legal bill!
That will be shocking if Cardinal responds. They operate by ignoring anything from the past and hopes it disappears. I’ll be interested to hear more of Tim’s garbage lies so he can act like an innocent victim.
Less than 2 weeks for Cardinal and Tim to produce some answers. When they say "Cardinal" its not just Tim they will be looking at. Its the whole lot of them. Sales to accounting to executives.
Sure we all want our money back, but not at the expense of someone else. The only way they made money was lying to investors. Thats the only way they would make money going forward and I don't want dirty money. Not even Garreal is responding. He knows its game over. Its over for all the execs past and present as well as the auditors.
i support Cardinal along with garreal (hav'nt much choice,lol) ,everyone has half truths-half bias's ,
Great points. The only supporter of Cardinal is Garreal and he knows nothing about oil. Would love him to respond since he seems so very confident that Cardinal is in good shape and will file.
RBSM, auditors, how nice.
What do you want to bet the three 10Qs subsequent to the lask 10K filed in 2016 was never sent to RBSM for review as required by law.
The auditor should have caught the change in ownership percentage by the CEO. It should stick out like a sore thumb, both on comparable filings, and the transfer activity report from the transfer agent.
The auditor should have a third party valuation on the lease. The auditor swore an oath to report financial fraud.
The auditor failed too.
Yes, all kinds of problems there, especially no 13Ds nor Form 4s and 5s.
It appears they didn't have the $$$ to fulfill their mineral lease, operating, and JOA.
So who did not pay into the AFE, and were the shortfall offered on a pro-rata basis to the other lease holders?
Also, grandma needs her cash flow, but sometimes grandmas son or sister sues grandma and wants their cut or else, then the whole operation gets sued and everything comes to a grinding halt. Then there are lawyers everywhere as everyone has a lawyer, and it takes years for all the lawyers to get together.
In other areas, accessing rigs and roughnecks can take time and you must stand in line.
All kinds of things can go wrong in the oil patch. Best leave it to those with $$$ and experience.
The unproved oil asset for $490,000 on the last 10Q filed in 2017, do you think they got a third party valuation from say NSAI?
Do you think they have attended NAPE? Or even has been to the Petroleum Club? Let alone even heard of them?
No response from anyone on TDs posted link? Is everyone off the Cardinal band wagon now? Garreal, you tout being iin the know. Maybe you can explain it to us after you talk to good ole Stan.
Typo, not inaccurate, accurate. Sorry TD.
I think this inaccurate. Current management knew of these violations and fraud and did nothing. They didn't alert investors and still haven't. That makes them complicit to the fraud. The suit summarizes a lot. They have been and still are dead in the water. Garreal, can you comment on this now? Do you still think Cardinal and CEGX will file and clear this up by May 16th? Doubt it!
It's also clear CEGX has been left for dead and will not be saying anything.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=148446606
.
Buyer Beware
SEC busted Grey Market scam
..
It's clear CEGX is a busted scam...
https://www.sec.gov/litigation/complaints/2019/comp24427.pdf
.
Buyer Beware
SEC busted Grey Market scam
..
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: |