Texas Gulf Energy, Inc (TXGE)

[chrisn83]

what is going on here today

[makinezmoney]

$TXGE: Unusual volume.... 360k now at $0.004


Thats up 81% just outta the blue.

Watching with Interest.


$TXGE

[Natural Trader]

TXGE reinstated after 2 years of being dormant:
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=3bGJQhDAouockrpsb1Tvtw%253d%253d&CorpName=TEXAS+GULF+ENERGY%2c+INCORPORATED

[texasgold]

I do not see any hope for this one.

[MasterBidder]

So much potential here... Hope the co fell into good hands here

[MasterBidder]

Buzz is stuck on the MMJ sector

Zing

MB

[texasgold]

I would have thought there would be more buzz.

[Witchhouse]

Yup but a bit steep big campaign coming IMO Money to be made and also money to be lost. I would and will buy now and sell on news. Maybe real company coming but will take time good flipper stock or buy and forget and be surprised. I'm in for a grand either way. I love sleepers won on many but lost on many too. JMO

[texasgold]

new game

[texasgold]

new game

[MasterBidder]

One retailer left looks like

[MasterBidder]

IDK bit early to say that... we'll see, regardless looking better than has ;)

[atotalbum]

ughhhh ohhhh the ole gap and trap looks like, crap

jmho

[MasterBidder]

L2 looking rowdy...

[atotalbum]

getting some decent hits today cheeseburger belly...

jmho

[MasterBidder]

8K out - Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.



On April 24, 2014, the holders of greater than 50% of the outstanding voting shares of Texas Gulf Energy, Incorporated (the “ Company ”) executed an action by written consent of the stockholders of the Company, which action was in lieu of an annual meeting of the stockholders of the Company, electing the three individuals to serve on the Board of Directors of the Company for a term expiring at the next annual meeting of the stockholders of the Company, or until their earlier death, resignation or removal. Those individuals included Karim Ayed, who was an existing member of the Board of Directors of the Company, and Rilene Burgess and Joseph E. Ghantous, who were not existing members of the Board of Directors of the Company. On April 24, 2014, as a result of this action by the Company’s stockholders, the term of Craig Crawford, who had been serving as a member of the Board of Directors of the Company, expired.



On April 24, 2014, the new Board of Directors of the Company appointed Karim Ayed as Chairman of the Board, Rilene Burgess as President and Chief Executive Officer, and Maylene Guzman Santiago as Chief Financial Officer, Treasurer and Secretary. On April 24, 2014, as a result of this action by the Board of Directors, Craig Crawford, who had previously verbally tendered his resignation to the Company, was terminated as Interim Chief Executive Officer of the Company and John A. Haney was terminated as Chief Financial Officer of the Company.



Karim Ayed, 41, was appointed as a member of the Board of Directors of the Company on October 15, 2012. Since April 2010, Mr. Ayed has served as President and Chief Executive Officer of EAG Group, a world-wide group of companies providing industrial services. Mr. Ayed served as Vice President of International Plant Services, L.L.C., until it became a wholly-owned subsidiary of the Company in December 2011.



Joseph E. Ghantous, 68, has served as a Regional Sales Manager for BBA Aviation, a provider of global aviation support services, with responsibility for all marketing activities in North Africa. Mr. Ghantous is also the founder of Aerospace Engine Management Group LLC, which provides aviation support services that are not offered by BBA Aviation.



Rilene Burgess, 64, has over three decades of experience in the Petrochemical Industrial Industry. Ms. Burgess joined International Plant Services, L.L.C. in 2006 as Manager of Client Relations, and served in that position until 2008. From 2009 to 2012, Ms. Burgess acted as a consultant to the Company and its’ subsidiaries, and Repcon, Inc.’s Corporate Affairs Group. Since January 2014, Ms. Burgess has been serving the Company as Vice President of Operations for International Plant Services, L.L.C. Ms. Burgess also serves as President and General Manager of Essential Skills International, a company she founded in 2008.



Maylene Guzman Santiago, 36, served as Accounting Manager of International Plant Services, L.L.C. from 2006 until it became a wholly-owned subsidiary of the Company in December 2011. After the acquisition by the Company, Ms. Santiago became Controller for the Company and its subsidiaries. Ms. Santiago has been a licensed CPA in the Philippines since 1999 and in Texas since 2008. In April 2014, Ms. Santiago was designated as a Chartered Global Management Accountant.



There are no arrangements or understandings between either Mr. Ghantous or Ms. Rilene and any other persons pursuant to which they were selected as directors. There are also no material plan, contract or arrangement entered into with, and no grant or award was granted to, Ms. Burgess or Ms. Santiago in connection with their appointments as executive officers of the Company.



There are no family relationships between any of the members of the Board of Directors or the officers of the Company.




Get ready for turnaround IMVHO.

[atotalbum]

whoever is constantly down ticking NITE here on the ask side, its a waste of time..he'll jump in front of u constantly, ur dealing with a retarded computer..gotta wait until theres vol to get out

just my personal opinion

[ruke]

That's a pitty man.

[PsD]

Good advice, I took it and renewed my relationship with TXGE.
Can't see US Dept. of labor not cooperating with the Co.

[PsD]

I got in again by misreading the SEC filings that I assumed had earnings of .01 per share.

While a positive result is needed from the US Department of Labor, Should that be ok'd,
then am I wrong is assuming that the PPS value should be .10 ?

[Debbie777]

Yes, I sold last week (as soon as I read the footnotes on their NT10K and the 8K). I'm glad I did, I still got out with a minor profit.

I will continue to watch this one, because it moves nicely. I just don't think they're going to make a real profit as long as the visa issues continue. They've had that issue for quite a while. Evidently the lobbyist (Ben Barnes Group) they paid, hasn't made any headway with the US Department of Labor.

[atotalbum]

int one

[Traderfan]

It's not about the general going concern boiler plate. It's what they themselves said. Two completely different things and the market obviously realized it since it's down 60% since that filing hit. Now it will be interesting if they can find any source of money.

[MasterBidder]

Find a company at this market cap without that statement

[Traderfan]

Still looks like bargain basement prices here despite the bumps in the road compared to other companies with similar market caps

You realize what was written in the last 8k right?

[MasterBidder]

It was me while I was pregnant with my first kid!

Lol jk u bet, Randy from the trailer perk!

[otcbargains]

OMG Is that picture from "Trailer Park Boys"? I am almost sure it is. LOLZ. The greatest show that no one knows of.

[MasterBidder]

Still looks like bargain basement prices here despite the bumps in the road compared to other companies with similar market caps

[otcbargains]

Ahhh, I didn't look that closely.

[Traderfan]

Yes but they also announced the revenues and it's about 11 million below the 9 months figure. Something doesn't add up. It seems they just don't mention the sales and the loss from the former business although they surely have to include it in the 10k if it's included in the 9 months figures. IMO

[otcbargains]

THey anounced the annual loss in the nt 10K and it is less than the 9 month loss.

[Traderfan]

It looks like a 4th q profit but how they got there remains to be seen. Possibly some one time gains as the result of selling business units.

How did you figure that out? If that's right it's most definitely only because of the gain of the business sale.

[otcbargains]

It looks like a 4th q profit but how they got there remains to be seen. Possibly some one time gains as the result of selling business units.

[Traderfan]

The reason for the sell off since yday was the 8k filing in case somebody here didn't see it yet.



On March 28, 2014, as part of completing the Company’s annual report, management in consultation with the Company’s auditors determined that the annual report will include a “going concern” advisory statement. Through the process of negotiating the Transaction, management created detailed cash flow and operational forecasts.

Those forecasts showed that the company would be able to not only continue its operations but invest in new ventures within Texas Gulf Specialty Services to provide turnaround work to the petrochemical industry. Since the sale of the Services Assets on November 22, 2013, the forecast for accounts receivable has been negatively impacted by non-payment, primarily regarding customers and transaction related payments from the Transaction related to the works-in-process at closing of the Transaction.

Additionally, the Company’s wholly-owned subsidiary International Plant Services, LLC (IPS) continues to have difficulty in obtaining guest worker Visas for the craft workers from the U.S. Department of Homeland Security which results in continued declines in its revenues. Further, the Company’s accounts payable have increased due to unbudgeted significant severance packages paid to former IPS employees and continued professional fees related to the Visa applications and litigation.

The Company believes that if it does not reduce expenses, secure a loan, or bring in additional equity its inability to continue as a going concern becomes a significant possibility


http://investorshub.advfn.com/boards/read_msg.aspx?message_id=100008186

[texasgold]

crash

[MasterBidder]

Whoever bought the .02s got a gift, was bidding for some but cheapness bit me

[justin663]

BP refinery spill whiting indiana, needs repair & maintenance, I hope txge gets the call & the contract work

[justin663]

excellent

[MasterBidder]

People loading without smashing the price up on themselves IMO

[justin663]

ask @ .031

[justin663]

lots of small purchases coming in today, nice volume.

[MasterBidder]

Nope just pretty much tragic all around.

[justin663]

Is the oil spill from the transport ship in Texas in the gulf in any way bullish for this stock?

[MasterBidder]

Agree I'm looking for another 50-100k in low twos before she goes ;)

[justin663]

I hear that. Was hoping for a downturn to pick some up today. Any action takes out 2's , on to 3's IMHO

[MasterBidder]

I'll be joining u for some more 2s if thy keep falling out

[justin663]

strong buy @ these levels.


IMO

[justin663]

I'm going to start buying in @ the .02's tomorrow.

Refinery repair season is here. Time to tick tock to the top.

[Debbie777]

Looks like people are getting impatient. I'm holding until I see the 10K (which should be out in April).

[texasgold]

no action