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He didn't sell his personal shares so it's not insider trades. It was a corporate fund raise to continue operating. Le Pew likes to work around the edges of truth.
You can't blame anyone on Ihub for a stock dropping. That's just dumb. I bet everyone on here has been burned on an OTC stock trying to strike gold. That's what this place is all about. I know I sure have. If you don't do your diligence, it reflects more on yourself than whoever you want to lash out at.
Brian has floated this idea several times the past few years and nothing ever comes of it. They don't even have a CFO. It's not going to happen. Honestly, whenever he starts posting fluff like this and the liquified gas partnership it makes me nervous he needs money. Unless they've finally opened up some wells that actually produce something, they don't pump enough gas to make that deal matter.
They increased revenues last quarter. That's something, I guess.
I had no idea Justin Costello was behind this ticker as well. That explains a lot of what happened here early on. Him and Computerbux stole a lot of money from us. I can't believe I got caught up with these scammers. He got me on this one and GRNF. At least I'm on the victim list if he ever pays out any restitution.
https://www.securitieslawyer101.com/2022/sec-defendant-and-fbi-fugitive-justin-costello-arrested/
No it's not. It looks about the same as other equity financing deals I've seen. Maybe a bit better since the convertible debs are optional. They can still pay back in cash and not incur the interest or sell shares, though that rarely happens. Shareholders will take a hit, but we're only talking like 50M shares, not 2 billion or something crazy. All in all, this is why companies go public and issue equity in the first place. They need funding to grow and this is how they get it. I'd be disappointed if they didn't do this. How else are they to convert their idle assets to operational status?
This may just be me, but in my experience the companies that spend $1500 on a PR wire release every couple weeks is putting more effort into propping the stock price, and therefore their borrowing power, than actually managing the company. Constant PRs are big red flag to me. PRs aren't necessarily bad, but when you have no revenues the previous quarter I'm ok if you try to limit your expenses somewhat.
The PRs are not free and if you're not relying on your equity to continue funding operations, they aren't really a necessity. They can let the quarterly filings drive the stock. Brian was on Benzinga not long ago in a video interview though, so they haven't been silent. I don't think he paid for that, but you never know. And there's been some twitter posts.
United doesn't own them yet, and Gateway seems like they are in some distress as far as funding operations? If they're facing foreclosure, they're not putting money into anything except the exit plan.
When is this going back to .06 or .08? I had planned on picking up some more. So disappointed right now. lol.
I sense panic and desperation from a rising stock price.
Q2 is out. Nothing surprising here. This year is about securing assets and financing for the future.
I think some peeps may have unrealistic expectations.
45M shares went somewhere. We'll find out soon what it was for. Most likely it was a convertible deb agreement for a cash infusion, which would be fantastic. Or maybe they closed Gateway? You'd think they'd PR the closing of an acquisition right away, but maybe not. These guys don't seem to overly pump every little thing.
I'm not expecting much from Q2. Maybe a slight increase in revs. I think we're still a good 12-24 months before things get really interesting. Sooner if they get funding to open up these wells. If Integrity Terminals stays on schedule, we're going to be looking pretty good in 2024. Not concerned about this year at all. Long hold, as always.
Most of the wells are not active, that's why it didn't cost them a fortune. It'll take time and resources to develop these. But no one said all of them are plugged. The company has not been sitting idle this year. This one is certainly operational:
$UNRG taking care of business in the field.#oilandgas #energy #NaturalGas pic.twitter.com/8YQfIjTtP8
— United Energy Corporation (@UNRGCorp) August 20, 2022
Disanti has several million shares. His company Grassroots is the one who took over UNRG in 2019 with the custodianship then sold it Sam. He gets to keep some shares for the trouble. This is how he makes money. He's done many of these custodian/mergers. It's his specialty. What of it?
Still only 58M unrestricted. That's a pretty low float for the OTC. And can you tell me what role Sam Smith has with the company? What is his position and salary?
Great hire.
This is a big fat yawner if you ask me.
Look, you can't just make legal terms mean something that they're not. Sam Smith's shares has no more influence than yours or mine, if you in fact you own any. Maybe it gets Sam a return phone call, but the company is not bound by anything he wishes, which seems to be the point you want to make.
Are you kidding me right now? A minority owner is anyone who owns less than 51% of the outstanding shares. Generally, one who owns 20% or more gets certain voting rights and a seat on the board, but he's not even on that level. He's a non-entity as far as the corporation is concerned. Same as if you bought 40M shares tomorrow. It means nothing. You don't get any sort of control of the company.
I and most of us here are aware of his past. But to claim, like Pepe does, that UNRG is liable for anything Sam did 5 years ago with a different company is ludicrous.
And to be perfectly clear, Sam was not the person responsible for the fraud that happened at Pilgrim. That was all on their former CEO Rafael Pinedo and the CFO. Sam took over as CEO after they were fired. He unfortunately was not able to salvage the company.
He owns 14.07% as of 8/12. That is a minority owner by any definition.
United Energy has nothing to do with Pilgrim. There is zero relationship there. UNRG does not own any of their assets or equity. And none of Pilgrim's former executives work for UNRG. Why would they expect to get UNRG shares? That PR was put out before UNRG even existed. What could they possibly sue for? It's beyond common sense and logic to even suggest such a thing.
And further, UNRG did not give Sam Smith shares. He bought the UNRG shell company from Grassroots / Douglas Disanti and merged his company Rigworx into it. He is a founder. United Energy would not exist without him. Then he later sold it to Brian Guinn to run while Sam remains a minority owner. And Brian has been doing a fantastic job. IMO.
I can see .35-.50 in the next 2-4 quarters. A lot hinges on how many wells they manage to open and closing of the pending pipeline deal. But once the oil terminals in LA are fully functional in 2-3 years, $1.00+ easy. That's 3M+ revs per month just in storage fees alone. Assuming they don't raise the A/S above 425M.
UNRG stated early on that the goal was to become a mid-cap operation. That's a 2-10B market cap. We're a long way from that, but it's a nice goal to have.
It was over 2 years ago along with 50 others who were issued shares on the same date. Looks like early investors. It's in their filings.
There was a period of over a year right after URNG was formed where covid stopped everything and the price of oil dropped to negative dollars. Obviously, that caused a lengthy delay in getting operations up and running facing that uncertainty. Those headwinds are no longer an issue, and they are swiftly moving forward with building the company. The Paulson investment is a HUGE step in this regard and will secure them the cash to construct the oil storage terminals in LA and open up the oil and gas production wells in Oklahoma at Cherokee Basin. Not to mention the 2 pending acquisitions for 100ks more acres of leases and 1000+ miles of pipeline. Things are starting to look up for UNRG and shareholders, if you can get the proper perspective.
There is no issue at all. Market cap is simply Outstanding Shares * Stock Price. The end.
This is where Integrity Terminals will be as far as I can tell. It's in Iberville Parrish at the boarder of Ascencion Parrish, with 686 acres.
https://www.google.com/maps/@30.2165669,-91.0652045,5348m/data=!3m1!1e3
Not sure which side of the river it's on, but my guess is north side of the river next to the other terminal. If you look at the area you'll see what it will probably look like with oil storage tanks and pipelines to a dock on the river for barge and ship loading.
Over 1M barrels in storage scheduled for next year, with nearly 7M by 2024
First mention on providing this that I saw was on April 4 2022. Your perspective on timelines seems to be skewed? It's been 4 months. It'll come before the year is up I bet.
https://newsroom.prkarma.com/unitedenergy/news_release/869
Jeez man, if you didn't know, 3rd party sites don't report OTC market caps correctly. Even your trading broker like TD Ameritrade won't show it right. You have to go to the exchange to find the O/S and market cap. OTCMarkets has to keep this info current for the tickers that trade on it. It's the only source you can trust. Their current cap is $43,146,536
https://www.otcmarkets.com/stock/unrg/security
They are in the process of generating the reserve reports. They've hired a firm to them. When they're done, it'll be published. I anticipate those in q3 or q4. Just going by what the company says in their communications with shareholders. Also, the financial audits should be completed in a similar timeframe. Uplisting to QB is definitely on the agenda.
This was posted on twitter in July 2021.
From other tweets:
And their Cherokee Basin production lines and wells look to have great potential:
https://journalrecord.com/2021/10/27/united-energy-completes-cherokee-basin-acquisition/
In the past year, they've acquired 100% of the Cherokee Basin assets (most of which will need funds to put into production), fully activated the Cotton Valley natural gas compressor station, bought 100% of Integrity Terminals, which will store and transfer to market 6.9M barrels of oil. Construction to start in a few months. With these new assets coming online in the next 12-24 months, United should experience some pretty significant growth.
So, it's not like they don't have anything. lol I'm holding long.
They are beginning to do just that. I expect most of their immediate agenda spelled out in their PRs to be completed by end of this year. These things don't happen overnight. Why so impatient?
The PRs tell us the big picture. If you want to dive deeper, we'll see what their Q2 filing tells us soon. I expect some incremental progress since they just started operations last quarter. I don't know what else they can do?
It's a process, right? You can't build a public company in a week. Covid set them back about 12-18 months, but they are full steam ahead right now. They have a very specific plan and certain objectives have to be met before the revenues ramp up.
In case you missed it:
I've not seen anything that would have a significant negative impact on current or future operations for United Energy. IMO.
The unrestricted shares haven't gone up that much in the past 2 years. Something like 20M increase if I recall correctly. Sam has 45M at last report, so it wasn't his - at least not all of it. They could be unlocking in small tranches I guess. But almost 80% of the 273M O/S is still locked up currently, which puts a damper on the pump and dump theories and makes it a hot ticker for a run on any sort of volume. Maybe the Q2 lights the fire? :)
And sure, I understand what Sam's role has been here. I've been researching Rigworx since it first surfaced here. I owned UNRG shares before he did. lol. If I was concerned at all, I would have bailed long ago.
50% is nothing on the OTC. Next week it could be up 200%.