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me??? Willy is upbeat today about it, ask him. LOL.
Bad market day to be asking me that, Jaws, especially with the mess the Oklahoma newspapers have made out that the well is right now. It will take time. There is not a present, near future $.50-$1.00 value showing. A buyout might bring it up a lot, or the merger, doubt the super report can really counter all the things I see. He borrows money from himself thru his two companies, and pays himself back with interest. IMO, he has those 2 companies getting Indian tribe grants and loans at a super low to none rate, then loans it to his oil company, very odd and confusing. Rest comes from investors directly in the stocks. He's in arrears with Verilease, never made a single $25,000 a month payment up until 16 April , so it must be north of Quarter Million now.
But I've always tried to warn everyone to try and do the mini buys and sells, since the financials last year, we were shifting enough lately to make tiny profits, I stayed out of it to avoid jinxing it. I keep waiting for it to lift enough to shed some, but it never makes it that high. I can afford to wait it out, and we're at bottom, so it makes no difference to me one way or another, my husband calls it my cheap entertainment.
What do you & EVERYONE here think it would take for CAVR to reach a PPS value of ***MINIMUM*** $.50 to a $1.00***??
We picked up a small amount of a cheapie that seems to be doing good today. All should know that DirectBuy commercial, where people buy everything from construction material, cabinetry, to furniture and stuff at dealer cost for an annual fee.
New little guy out there is for luxury goods, same theme as DirectBuy. Called Luxeyard. symbol LUXR. Up 8% today, pps is presently $1.70.
Grossman should be back from his vacation or whatever he was off for, now. We should see something about it. Billy IMO, probably waiting to see what happens with the District Attorney and the protest to do any public statements to save money on PRs.
Crap, DOW down over 100 points over the job's report, any gains finally made last couple of days in April back down the toilet again.
Grossman should be back from his vacation or whatever now. We should see something about it. Billy IMO, probably waiting to see what happens with the District Attorney and the protest to do any public statements to save money on PRs.
Crap, DOW down over 100 points over the job's report, any gains finally made last couple of days in April back down the toilet again.
Thx Johnsyn, no worries though - either way, hopefully the Merger happens and we're all a whole lot happier for it...
pushed below it today......
Jun crude oil prices this morning are trading sharply lower by $1.25 and gasoline is down 1.42 cents. Crude oil is seeing continued selling pressure today from (1) today's weak European services PMI reports and nervousness ahead of today's U.S. payroll report and Sunday's elections, and (2) technical weakness after yesterday's sharp sell-offs. Crude oil and gasoline prices on Thursday sold-off sharply: CLM12 -2.61, RBM2 -0.0265. Bearish factors Thursday included heavy technical selling, the weak U.S. ISM non-manufacturing index report, ECB President Draghi's comment that the Eurozone economy faces "downside risks." Crude oil prices also saw continued weakness from Wednesday's weekly DOE report, which showed a sharp 0.8% rise in U.S. crude oil inventories to a 21-1/2 year high.
Iccckkkk. The lawsuit to post a bond, if they do sue, can stall the Saltwater well indefinitely, because the District Attorney will ask for an injunction BOTH locally and to prevent any decision by the OCC on granting the well to operate until the matter is settled. Talking million dollar bond. "Most oil companies can afford that" LOL. What a statement.
Yup... hint, hint.
Hmmm. surely they learned their lesson. A lot of small companies don't read enough into the rules or pay for decent SEC lawyer, and get DTCC issues. If it goes thru, people still have plenty of time (1 June) to buy in.
Yup... that's true, they put out a 10% divi in stock form near a year ago, many think that's what triggered the 'chill'. Altho many denied they would get the divi, it did happen, so I assume this year will be the same. I also believe that a lot of ppl bought into it to get the shares, then cashed out, keeping the freebies; hard on the pps.
Doing happy dance on LinkedIn. After hours jumped to $121 from day close of $109. Analysts always put that one down from day one of IPO, was always overrated. Laughing at us fools that bought at $70-$90, let alone the really late ones who got in around $106 that day, when it was suppose to IPO at $35 or $45. Never once saw a single analyst say it was worth anything over $70, trying to save face, nothing more, for screwing up so bad, trying to make the common investor pay dearly for their (MM) mistake.
geez, never a break around here. LMAO.
you forgot a 0 again
I was trying to reply 4 times, LOL. In case I have problems again, quick answer- I haven't been thru the whole financials, $.066 had been the lowest I had come up with out of what I did look at. That also doesn't include what appears to have been more dilution since the financials were first published, could be few millions of cheaper stuff
what about that other company, the one SYNM keeps trying to toss in, what's it's story with this "we're talking about giving out 20% shares"???
Sorry I gave up being on line about qtr to four, kept trying to answer Moody. Don't know if it was Ihub or what, explorer kept locking up but while on Ihub. Noticed it's server kept going down last night. But my Schwab streetsmart kept on humming this afternoon.
YES!
SIOR is GREEN 2day & so am I!
can't say as much for our poor ittty bitty wittle CAVR
~~~ Waaaah!!! ~~~ :o(
Most interesting statement out of that Forbes newsletter I just got was: "Fracking requires between 4,000 m(3) and over 22,000 m(3) (25,000 bbl to 140,000 bbl) of water per well and produces toxin-laced brine that can be more than six times as salty as the sea. Its growth has energized the water industry, inspiring a bumper crop of new water treatment startups vying to treat the highly challenging flowback water."
A 50,000 bbl per day doesn't hold all that much in well # terms.
they are testing your boundary
do you think they will push below it?
To follow on Twitter @wolfejosh: http://twitter.com/wolfejosh
Abundant and cheap, natural gas has been on the top of every energy investor’s mind. But a massive opportunity also awaits the water industry, according to Lux Research’s latest analysis.
Frack Water Market to Grow Nine-fold to $9 Billion in 2020, Boosting New Technologies
Shale gas is poised to expand outside the U.S., offering 28% annual growth in water treatment, but risks overexposure for start-ups chasing the market, says Lux Research.
With hydraulic fracturing, or "fracking"—the use of high pressure water to help extract previously inaccessible shale gas—eager to replicate its success outside the U.S., the market for water treatment will grow nine-fold to $9 billion in 2020. This expansion will spur technology innovation and novel thinking about water disposal and reuse, but the field is rapidly growing overcrowded, creating significant risk for new entrants, Lux Research said in a report.
Fracking requires between 4,000 m(3) and over 22,000 m(3) (25,000 bbl to 140,000 bbl) of water per well and produces toxin-laced brine that can be more than six times as salty as the sea. Its growth has energized the water industry, inspiring a bumper crop of new water treatment startups vying to treat the highly challenging flowback water.
"Fracking represents a significant water treatment challenge—hydrocarbons, heavy metals, scalants, microbes, and salts in produced and flowback water from shale gas wells represent a water treatment challenge on par with the most difficult industrial wastewaters," said Brent Giles, Lux Research Analyst and the lead author of the report titled, "Risk and Reward in the Frack Water Market."
"While the opportunity is large, only a few companies are really positioned to profit. Meanwhile, nearly every start-up we talk to is going after frack water, regardless of their technology, and many of them are going to come to grief," he added.
Lux Research positioned key companies on the Lux Innovation Grid based on their Technical Value and Business Execution—companies that are strong on both axes reach the "Dominant" quadrant—and also assessed each company's maturity, and provided an overall Lux Take. Among its findings:
-- WaterTectonics has technology and alliances. WaterTectonics' high-energy electrocoagulation technology addresses heavy metals, biological matter, and hydrocarbons, but leaves salt in place, meaning its use is restricted to areas where salt levels are moderate. Still, with its long-term alliance with Halliburton, WaterTectonics reaches the "Dominant" quadrant.
-- EcoSphere, AquaMost lead in oxidation technologies. EcoSphere combines ozone, cavitation, and electrochemistry, and the $9 million company leads in the "Dominant" quadrant. AquaMost, an early-stage startup, uses catalyzed UV to achieve many of the same results, but also removes metals. It ranks as "High potential" with strong technical value.
-- GasFrac is poised to disrupt the industry. GasFrac, with technology licensed from Chevron, uses high-pressure propane, rather than high-pressure water, to fracture gas wells. Its technology is being tested by Shell, Blackbrush, Husky, and Chevron, among others. With 300 employees, revenues of $300 million, and $50 million on hand, the profitable company outstrips every water start-up in our lineup, positioned in the "Dominant" quadrant and earning a "Strong Positive" Lux Take.
The report, titled "Risk and Reward in the Frack Water Market," is part of the Lux Research Water Intelligence service.
For sure, tough throwing 1-2 shares up for sale, even Buffett's $250,000 a share stuff.
yes the european one
i'm betting that the 100/1 FS will make me the money, that will make it much easier to trade
your European one? Very decent, impressive. I'm happy with my U.S. one (WHX) that pays roughly 17-19% these days, no foreign taxes to figure in. Grabbed it's successor that just IPO'd, got to wait a quarter before I know it's yield. WHX only has a few more year's life in it.
mine will 25% cash divie
one of the few. That Universal bio company is proposing a stock divie of 20% shares given to it's shareholders PENDING board approval. It's sinking like a rock. Wish MyBad was around to tell us if it's management is also known as great storyteller. Have to say, it's a unique approach, whether true or fairyland.
that gas company is slowly going up
2 bad overall market days in a row. Icckkk. It's so bad, even the ex-div calendar stuff is dropping before they can collect. Hey MyBad, at least SIOR is green today.
This is an odd statement too:
“All we’re taking is saltwater,” Robinson told the News Star. “The water sensors will immediately be able to tell us if there is something in the water that shouldn’t be there.”
Robinson said if a foreign material were detected in the water, the system would automatically shut down so the impurity in the water can be found.
two things wrong with it. He says he's going to profit off oil skimmed, never mind where he actually skims it in the process. Other has to do with it shutting down from the detectors. It will be based on molecule size. Even the slightest corrosion from the saltwater on the interior of the tanker trucks, hoses, etc., is not going to shut down the well. I think the Marathon Oil flood is very present in these folk's minds.
I used to calibrate cyanide alarms that were placed under plating tanks. Problem was, they were placed too close to steam pipes, and splatters from when they dropped items into the surrounding tanks. The alarms were only air density testers. Steam set them off all the time.
I suspect these saltwater sensors work either as interferometers for light spectrum, or some density tests. It will depend on the tolerated values.
LMAO, don't worry about it. It actually was a good thing. I think some more eyes will get opened. Like I said, there's a few who loves to jump on anything I say to show the others how stupid I am. They'll just be burning themselves if they do it, since there is no commercial operating permit. I found the 3000 permit PR, not the 20,000 PR first, and used it rather than waste time trying to find the 20,000. It also could be damning to him too. I had re-read the article Belg. posted, it clearly stated he does not have operating commercial permit. He might have "on-site, own use only" for the 20,000. But no one said they could smell anything right now. Leaves me puzzled.
Only excuse for the 50,000 slip of tongue is that maybe he bought one of the "license permits" from the State for a 50,000 site or something, something entirely different.
Oops, sorry!
...and now you know how I got my name LOL.
My Bad!
Thanks for hanging me out to dry over there, MyBad. LOL. I almost said something about Billy's fibs, the final paragraph, he claimed they were permitted to do the 50,000. Liar, liar, pants on fire. All he did was apply for the permit last November, as per I posted the Tulsa World link for here, or for the 3000. Articles show he does not have permit.
But I expect a discussion to break out anyway, thought they had a temporary 20,000, but it too, may not actually be permitted, just did the work, so that they could free up the 50,000 site to work on. Someone's bound to bring up the 20,000 to show the usual I'm a dummy.
can't. But I did TOS it, let ADMIN take him out. Same with his post this morning about natural gas. In the TOS, I stated CAVR sold off natural gas last June. It did not address CAVR specifically, so could also be O/T, though it had minor hint. He keeps doing the other company pump, they'll give him the hint to quit it.
GM J,
...and that is why I query him, requesting the link, every time he posts it... care to join me?
PM) chuckling!
MB
And nice to know they're talking out both sides of their mouths, give the oil companies more tax dollars:
http://www.pennenergy.com/index/petroleum/display/3996984250/articles/pennenergy/petroleum/exploration/2012/may/field-trail_to_safely.html?cmpid=EnlDailyPetroMay32012
good article for anyone holding gas and oil companies:
http://www.pennenergy.com/index/petroleum/display/4937243442/articles/pennenergy/petroleum/finance/2012/may/smu-cox__investors.html?cmpid=EnlDailyPetroMay32012
think I already posted this once, but today's links to newspapers in Oklahoma bring the need back up:
Study: Fracking cracks beyond 600 meters unlikely
April 27, 2012
Many environmental groups have claimed that hydraulic fracturing - or fracking - contaminates groundwater but one recent study has found that the technique to extract unconventional gas can be done safely.
According to research published in the journal Marine and Petroleum Geology, fracking has well below a 1 percent chance of causing unintended cracks in the ground beyond 600 meters. The research was led by the U.K.'s Durham University and used data from hundreds of both natural fractures and fracking operations in Europe and the U.S.
This research may show that if operations are kept an adequate distance from aquifers that there is virtually no chance of groundwater contamination.
"The process itself is a bit of a red herring in terms of the chance of it causing aquifer contamination," report co-author Richard Davies told Bloomberg. "The earth is very good at limiting these things."
The researchers also found that the chance of unintentional fractures forming 350 meters from the sight was about 1 percent.
Fracking has played a large role in the U.S. becoming the leading natural gas producer on the planet.
More information on unconventional gas and oil exploration can be found at PennEnergy's Research area.
GE to mark deepwater drilling breakthrough
May 2, 2012
Source: GE
In a milestone for the global oil and gas industry, GE (NYSE: GE) is showcasing its new MaxLift 1800 pump system at the 2012 Offshore Technology Conference (OTC). This product will pave the way for the use of dual gradient drilling (DGD) technology in challenging deepwater applications.
DGD significantly lessens the impact of the water column on deepwater drilling. In addition, drillers can reach reservoirs that are impractical to access using conventional single gradient drilling. The net effect of DGD will help optimize the productivity, safety and efficiency of deepwater wells.
Sam Aquillano, vice president—drilling and surface for GE Oil & Gas said, “For years, deepwater operators and equipment providers worldwide have investigated ways to explore reservoirs previously thought unreachable. Following rigorous prototype testing and successful field trials since 2001, GE’s MaxLift 1800 will make dual gradient drilling a reality for the industry, helping optimize the safe and efficient future drilling of deepwater wells.”
To achieve a dual gradient, flow from a well being drilled is diverted to the MaxLift 1800 pump, which is located above the blow out preventer and pumps the cuttings-laden mud back to the drilling vessel in an auxiliary line. The riser is then filled with seawater density fluid, so the reservoir ‘feels’ as if the rig is located on the seabed since the MaxLift pumps prevent the hydrostatic pressure of the mud from being transmitted back to the wellbore. The new GE pump can deliver up to 1,800 gpm at discharge pressures up to 6,600 psi and can handle solids up to 1.5 inches in diameter.
Deepwater wells in the Gulf of Mexico and other parts of the world including West Africa and the Caspian Sea are challenging due to the narrow pore pressure/fracture gradient environment. The DGD system gives operators a tool to manage the downhole environment while drilling, resulting in longer casing strings and/or larger diameter completions. The DGD system increases drilling efficiency while lowering mechanical risk and well costs.
•Jun crude oil prices this morning are down 39 cents but gasoline is up 0.50 cents. Crude oil is seeing some continued downward pressure from yesterday's rise in crude oil inventories to a 21-1/2 year high. Crude oil and gasoline prices on Wednesday sold off fairly sharply: CLM12 -0.94, RBM2 -0.0214. Bearish factors included the weak ADP report and the 2.84 mln barrel rise in U.S. crude oil inventories to a new 21-1/2 year high. Crude oil inventories are now 6.9% above the 5-year seasonal average, the highest level relative to the 5-year average since last May. The market found little support from news that gasoline and distillate inventories continued to fall and were tighter than expected. Gasoline inventories fell by 2.009 mln bbl (vs expectations of -1 mln bbl) and distillate inventories fell by 1.903 mln bbl (vs expectations of +500,000 bbl). Gasoline prices were also hurt yesterday by technical weakness after falling to a new 2-1/2 month low.
Today's U.S. Earnings Reports
Earnings reports (sorted by mkt cap): KFT-Kraft (consensus $0.56), AIG-AIG (1.13), APA-Apache (3.07), GM-General Motors (0.85), PSA-Public Storage (0.82), AMT-American Tower (0.41), VIAB-Viacom (0.89), EP-El Paso (0.28), VNO-Vornado Realty (0.83), PGN-Progress Energy (0.65), SRE-Sempra Energy (0.65), CAH-Cardinal Health (0.88), WYNN-Wynn Resorts (1.42), CI-Cigna (1.30), SLE-Sara Lee (0.25), CF-CF Industries (4.95), ESV-Ensco (1.16), TDC-Teradata (0.56), HCA-HCA Holdings (0.98), MU-Northeast utils (0.67).
Global Financial Calendar
Thursday 5/3/12
United States
0830 ET Weekly initial unemployment claims expected -11,000 to 377,000, previous -1,000 to 388,000. Weekly continuing claims expected -7,000 to 3.308 million, previous +3,000 to 3.315 million.
0830 ET Q1 non-farm productivity expected -0.5%, Q4 +0.9%. Q1 unit labor costs expected +2.7%, Q4 +2.8%.
0830 ET USDA weekly exports.
1000 ET Apr ISM non-manufacturing composite index expected -0.7 to 55.3, Mar -1.3 to 56.0.
1030 ET Apr ICSC chain store sales, Mar +4.1% y/y.
1030 ET DOE natural gas storage.
My Bad, I'm not even sure he saw Rainco stuff. IMO, he is only pumping the other stock, figures if it puts in the C name, it can stay posted, since it's clear he has money in both. If he had money in Superior, he'd post a supposed relationship with Superior.
Posted two new articles that popped up on CAVR. At least now we know why no new news on the saltwater well, he does not have county permit yet. Second one sounds iffy, if county does not get good money for it,including the promised road repair money, it might be dead.
Got a tiny laugh out of this part of the front page article (what???Billy stretch the truth???Who would have thought!!!!)
According to CAVU’s website, the disposal well will bring in approximately 160 trucks a day carrying saltwater and other oil related wastes to the site.
However, CAVU and Robinson claimed during the meeting the total number of trucks going to the site would be much less than that.
One of the newbies PM'd me about someone posted and misinterpreted your posting, or should I say attacked it. I took your post as people who call Billy, "here's additional questions you might ask." I don't see where stalker2 got that "post it here" meaning out of it. Maybe you should do a new post, elaborate more.
Uh Oh... Aahh, maybe I'm going a bit overboard... I don't mean it to be dark or foreboding... I found a good picture of an oil rig in an open land area, and I found some cool pictures of flying dragons and put them in the sky around the rig.
.
.
.
maybe I should just go back to the laundry thingy.
MB
what??? that symn is on that other company talk stuff again:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75130479
not sure what you meant by bashers/haters or pumpers of the stock symbology. You'll have to elaborate more. We talking ying and yang symbols? I don't want anything that looks like a hidden agenda, just a happy group that doesn't take offense at anyone's commentaries, serious discussions, and we can post sector info that wouldn't fly on a stock specific thread. That stuff is out the window now on CAVR.
It really bothers me that Draaz had come back and apologized for asking questions about the dividends, since it would be considered negative, because there wasn't any divies. Very sad. I haven't seen any other threads like that where people are so uncomfortable.
and of course another movement against fracking, comes in all shapes and sizes and flavors, block a pipeline so that it is more expensive to frack: http://www.pennenergy.com/index/petroleum/display/1223521369/articles/pennenergy/petroleum/pipelines/2012/april/sierra-club_seeks.html?cmpid=EnlDailyPetroMay12012
Another small oil & gas sector company absorbed by a bigger one:
http://www.pennenergy.com/index/petroleum/display/4379867708/articles/pennenergy/petroleum/pipelines/2012/april/williams-acquisition.html?cmpid=EnlDailyPetroMay12012
Hilary Kramer is pretty good. She does a few big flops like everyone else, like DNDN, but she does have valid info in her statements about different stocks like what she knows about debt loads:
The Right Way to “Sell in May”
That said, "Sell in May" isn't a bad way to go for stocks you're not so sure about. To help you in your thinking, let me share some of a list I just put together for my subscribers of stocks to avoid as we head into May. Many of the stocks have shrinking margins, bleak revenue outlooks, increased competition, and could be affected by a cautious consumer as well. At best, I expect them to be dead money for a long time; at worst, they could drag down your portfolio.
Chipotle Mexican Grill (CMG) has had a great run, up 200% over the last two years, but the company now faces a number of challenges. One is potential market saturation, which would lead to a decline in their record revenue growth. There's also a new emphasis on homemade meals as well as upgraded supermarket takeout food. In short, Chipotle must deal with customers who are concerned about prices, labor cost pressures and unstable commodity/food expenses. International growth is the company's big plan, but it's not clear yet whether the spicier foods will translate as well in international markets as menus of competitors like McDonald's and KFC.
Dunkin Brands Group (DNKN) has put up some good numbers recently, but I'm leery of several things, including the huge debt load and the ownership structure. DNKN is a "controlled company" with more than 80% of its ownership is in the hands of three private-equity firms (Bain, Carlyle, and Thomas H. Lee), which always raises the concern that private equity owners will "cash out."
In addition, Dunkin Brands faces a tough challenge in its
efforts to do better in the afternoons and evenings and unseat Starbucks, the current leader at those times of the day. DNKN is also not cheap, trading at more than 25X expected 2012. I think a more reasonable valuation would be around 16X, which would be closer to $20 a share.
DirecTV (DTV) is expecting to face rapidly increasing programming costs, in large measure because the company has had to fork over ever-increasing amounts of cash to keep exclusive National Football League content for its NFL Sunday Ticket package. Not surprisingly, DirecTV has said that customer growth should slow as a result of higher costs, and management recently signaled a shift in focus toward "customer retention" rather than heavy promotions to draw in new subscribers. Equipment subsidies and marketing costs now top $800 for each customer acquired, and it takes about 18 months for DirecTV to get that money back.
In addition, more content is available online, so more people are turning to the Internet for programming. That hurts DTV more than competing cable companies that offer high-speed Internet access along with phone and television service.
Radio Shack (RSH) is struggling with competition from giants like Amazon (AMZN) and Best Buy (BBY). The company met analysts' expectations in its fourth-quarter report, but that came on the heels of four straight earnings misses, and first-quarter results announced April 24 went back to being another miss.
Part of the problem is that a higher percentage of the company's sales are coming from mobile products, which carry very low margins, and changes at Sprint have also impacted results. In addition, in early March, right as the company was searching for a new lead advertising agency, Executive Vice President and Chief Marketing Officer Lee Applbaum abruptly left the company. I would stay away from the stock until there's a clearer picture of where the company is going.
Sears Holdings (SHLD) keeps reporting lower sales and profits. With poor customer service and concern about the quality of their appliances and other one-time A-level items, the retailer is on a downward path.
CEO Eddie Lampert has been scrambling to raise cash and calm investor fears, and he does have a history of igniting investor interest from time to time. To stay afloat with enough cash flow, Sears has been trying to sell off or spin off its stores. One well-respected Wall Street analyst called the process "a controlled liquidation of its chain," and I agree. While the move sent its stock soaring more than 20% and put rumors of bankruptcy to rest, Sears, in the end, looks on a path to fall short of money again.
You can't run a business by selling off assets. Sears needs to address fundamental problems and find a buyer that can provide synergistic upside. In the end, the company has too big of a struggle ahead of it in a time of high unemployment, shrinking credit and competitors doing a better job both online and in bigger box stores.
I meant a couple times today to post the daily DTCC updates. But does anyone really want to see that stuff?
No one discussed the ibox on CAVR, so I made changes to the quotes at the bottom, does it look ok now? Or need some other title?
I'm not going to keep trying to get the thread to be civil to each other, or even feel part of an investment social thread like it's suppose to be, it's too broken. Only time will heal it.
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http://www.otcmarkets.com/financialReportViewer?symbol=CAVR&id=78571
...have the rights associated with them defined. One million shares of the 11,000,000 shares of preferred stock have been designated as Series A Preferred Stock. One million shares of the Series A Preferred have been issued. The rights for the Series A Preferred Stock are defined in a Certificate of Designation the Company filed with the Nevada Secretary of State on April 24, 2009. A summary of those rights is as follows:
(i) Dividend Rights. The Series A Preferred Stock is not entitled to receive dividends.
(ii) Voting Rights. The Holders of Series A Preferred Stock shall be entitled to vote with the Common Stock as if their shares were converted into shares of Common Stock at a ratio of 1000 shares of Common Stock for each one full share of Series A Preferred Stock (the "Voting Rate"). The Holders of shares of the Series A Preferred shall be entitled to vote on all matters on which the Common Stock shall be entitled to vote.
(iii) Conversion Rights. The Series A Preferred Stock can be converted by a resolution of the Board of Directors of the Corporation. Upon conversion, each share of Series A Preferred Stock will automatically be converted into one hundred (100) shares of Common Stock of the Corporation on the date of such occurrence. In addition to the shares of Common Stock a Holder will receive in the event of a conversion of the Series A Preferred Stock, the Holders of Series A Preferred Stock shall be entitled to receive, out of the assets of the Corporation, cash in an amount equal to $10.00 for each one (1) share of Series A Preferred Stock (as adjusted for stock splits, combinations, reorganizations and the like) held by such Holder.
(iv) Liquidation Preference. In the event of any liquidation, dissolution or winding up of the affairs of the Corporation, either voluntarily or involuntarily, the entire remaining assets, if any, of the Corporation available for distribution to stockholders shall be distributed to the holders of Common Stock pro rata, treating each share of Series A Preferred Stock as if it were a single share of Common Stock.
Number of shares or total amount of the securities outstanding for each class of securities authorized
*The company has ordered the NOBO list for disclosure
The Company is authorized to issue preferred shares.
3
Item III. FINANCIAL STATEMENTS.
CAVU RESOURCES, INC.
2011 2010
ASSETS (Unaudited) (Unaudited)
TOTAL ASSETS $ 6,919,350 5,876,015
LIABILITIES & SHAREHOLDERS' EQUITY (DEFICIT)
TOTAL LIABILITIES 3,133,604 4,305,159
Commitments & Contingencies (Note 10)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) $ 6,919,350 5,876,015
NOTE 2 - BASIS OF PRESENTATION
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Marketable Securities
Revenue Recognition
The Company records revenues when the following fundamental criteria are met: (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred or services have been rendered, (iii) the price to the customer is fixed or determinable and (iv) collection of the resulting receivable is reasonably assured. Revenues are recorded in accordance with Staff Accounting Bulletin ("SAB") No. 104, as issued by the United States Securities and Exchange Commission ("SAB 104"), the Company is still contemplating various business plans but anticipates recognizing revenues in 2010 and 2011. The Company negotiates contracts with its customers, which may include revenue arrangements with multiple deliverables, as outlined by Emerging Issues Task Force No. 00-21 ("EITF 00-21"). The Company's accounting policies are defined such that each deliverable under a contract is accounted for separately. Historically, the Company has not enteredinto contracts with its customers that provided for multiple deliverables.
NOTE 3 - GOING CONCERN
The Company's financial statements have been prepared on a going concern basis, which contemplates continuity of operations, realization of assets and liquidation of liabilities in the normal course of business. The Company had net earnings of $1,124,143 during the twelve months ended December 31, 2011. (This does not match page F-2)This is first profitable year the company hashad since inception and the ability of the Company to operate as a going concern depends upon its ability to obtain outside sources of working capital in the near future. Management is aware of these requirements and is undertaking specific measures to address these liquidity concerns. Notwithstanding the foregoing, there can be no assurance that the Company will be successful in obtaining financing, that it will have sufficient funds to execute its business plan or that it will generate positive operating results. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result should the Company be unable to continue as a going concern.
NOTE 4 - NOTE RECEIVABLE
In June of 2011 the Company sold its operating subsidiary Envirotek Fuel Systems, Inc. for $2,500,000 with a down payment of $300,000 and a note of $2,200,000. The Company has recently restructured this note with interest and penalties and expects to start receiving $100,000 a month until paid or until the buyers are able to recapitalize their company. The company also sold the 6.2 acres of land, the building, the rights and all of the processing equipment for the saltwater disposal facility to be built in Pauls Valley Oklahoma for $1,500,000. The company expects to be paid for this purchase by the fourth quarter of 2012.
NOTE 5 - DRILLING EQUIPMENT
Property and equipment consisted of the following:
DECEMBER 31, 2011 DECEMBER 31, 2010
8
23. On December 15, 2009 and January 20, 2010, the company has received $50,000 each respectfully for a total of $100,000 of a $5,000,000 private placement being offered by CAVU Resources One, LP (the Partnership) is seeking aggregate capital contributions (Capital Contributions) of $5,000,000 million from the sale of 100 units (the Units) of the Partnership. Each Unit will consist of one interest in the Partnership and 50,000 shares of restricted common stock of CAVU Resources Inc., a Nevada corporation. The price per Unit is $50,000, payable in full in cash at the time of subscription. This offering will not break escrow unless the minimum amount of $50,000 has been raised. (was raised as per 1st sentence) The offering period is November 15, 2009 through December 31, 2010. (was amended to extend thru December 31, 2011 as in final sentence) The Partnership will be managed by CAVU Resources, Inc. (the General Partner).
Now here's the kicker:
The profits will be pay out 100% to the Limited partner until theinvestment is returned, than all future profits will be split 75% to the Limited Partner and 25% to the General partner. The General Partner will receive a 5% management fee. The partnership was amended to extend thru December 31, 2011.
Now jump to item 26
24. On January 8, 2010 the Company entered into a note with Ayuda Funding Group, LLC in the amount of $385,000 at 15% interest, the note became due in April of 2010, this retired the original note made by Ayuda for $100,000.In connection with this new note the Company agreed to pay a royalty on it oil and gas lease owned by Envirotek Fuel Systems, Inc. in the amount of 7.5% of its net revenue or a minimum of $7,500 a month. The Company negotiated a forbearance agreement with Ayuda in February, 2011 and the company had agreed to make payments of $75,000 starting in March. The Companys renegotiated this loan and has been making lump sum payments and will continue to do so until this debt is satisfied.
25. On January 8, 2010 the Company settled the outstanding note against the Envirotek Fuel Systems, Inc. purchase for $250,000.
26. On January 15, 2010 the company received $95,000 as a fee from the sale of units of its $5,000,000 506 Red D Private Placement for CAVU Resources One, LP. The company issued 100,000 shares at a value of $5,000as part of this transaction this company has now merged with FILO Quip Resources, Inc. recently renamed CAVU Energy Services, Inc.
27. On January 7, 2009, before the acquisition on April 24, 2009, the Company entered into five and three year leases with Verilease Finance, Inc. for drilling and oil field equipment in the amount of $800,000 and $285,362, respectively. The monthly payments for these leases began on June 15, 2009 and were for interest-only amount of $5,846 in total. As of November 15, 2009, the monthly payments for each lease will be for $17,812 and $4,100 respectively. The Company has proposed a purchase of the equipment leased canceling these terms and is negotiating a settlement. The equipment was sold and the lease was settled for $344,700.00with payments of $25,000 a month beginning May 15, 2011.
28.On January 15, 2009, before the merger on April 24, 2009, CAVU Resources, Inc.entered into a convertible demand promissory note with Energy Group of America, Inc. for $400,000, in connection with the purchase of drilling equipment. The convertible demand promissory note is due in full on September 12, 2009 and carries interest at an annualized rate of 8%. Energy Group of America, Inc. was also granted conversion rights to convert negotiated amounts of the convertible demand promissory note at any time and at a negotiated conversion price per share of the Company's common stock. On December 14, 2009, February 2, 2010 and June 24, 2010, Energy Group of America, Inc. elected to convert a portion of its debt into shares of the Company's common stock. In October 2010, Energy Group agreed to settle the outstanding balance $393,559.28 and cancel any outstanding an agreement for $150,000. The company has continued to make payment reducing this debt.
29. On January 28, 2010 the Company entered into an agreement to purchase the Alexander oil and gas lease and a pipeline in Pecos Texas for $2,400,000. This agreement has expired.
30.On January 21, 2010 and February 5, 2010 the entered into a convertible debenture agreement with Tripod Group, LLC, they advanced $55,000 and $51,250 respectively to the Company. In March 2010, a private group of investors purchased the 12,266,668 shares held as security shares from Tripod and paid the notes in full.
31.On February 2, 2010 the Company sold to a private investor 1,000,000 common shares for $20,000. ($.02)
32.On February 16, 2011 the company entered into a consulting agreement with Resources Unlimited NW, LLC, to provide Michael Sheikh as the CFO of the company. Mr. Sheikh was paid 2,000,000 shares of common stock valued at $20,000. ($.01)
33.In June of 2009, a consultant engaged by CAVU Resources, Inc. entered into an agreement with Cade Drilling, LLC to drill a well in Colorado. Unknown to the management of CAVU at the time, the well was drilled and the funds advanced to the consultant to pay for the services were only partially applied. The well was completed and the Drilling contractor and associated suppliers that were owed funds filed an action in Colorado against Company. The Company was not notified in a timely fashion and a default judgment was entered against the Company on March 2, 2010. The Company has begun negotiations to settle this claim and believes terms favorable to the Company will be agreed to. (Have we REALLY been negotiating since March 2 two years ago????)
34. On March 19, 2010 the Company sold to a private investor 1,000,000 common shares for $50,000 ($.05)
35.On April 22, 2010 the Company amended its Article to reduce the number of shares authorized from 600,000,000 to 200,000,000.
36.On May 24, 2010 the Company entered into an agreement to sell 50% of its Chisholm lease and entered into a non interest bearing note and mortgaged against its 30 acre facility in Tulsa, Oklahoma for $250,000 with GT Energy, LLC for the completion for the Chisholm Lease purchase. G T Energy was issued 250,000 and 2,000,000 shares of the Company's common stock as part of the transaction additional consideration was $41,250.00. The Company will be paid $1,100,000 as additional consideration from the production revenue. (ITEM 22, PG 17- THIS 30-ACREAGE he bought from his own holdings for $100,000.00 Dec 31, 2009)
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