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I agree but they should be paying the 180k because they would hit this maximum so since they have a liability of 122k instead it leads me to believe they use the par value gross asset calculation the state offers instead. Check the state franchise tax calculator as there are two methods companies can use with one specifically reserved for corps with par value shares. Thoughts???
The Delaware Division of Corporations site shows a change in share structure on June of 2009 where 5 billion of preferred shares were converted to common shares so as of 6/19/09 they report to DE Common 25 billion Preferred 5 billion and they owe a franchise tax of 122 thousand based on their recent annual filing. The franchsie tax of 122k I cannot figure out because based on the par value of .000001 in order to get to that figure it would mean they have an enormous amount of gross assets which I cannot believe to be true any ideas on this?
If these guys can't even manage to put up a simple update to their website then I am completely out after a year and a half. They said end of week and its end of week. I mean how can they manage a gas and oil operation if they can't even update a website. All the money they gained from diluting they can afford a simple update even if it is of no substance to us it will atleast show they are alive and breathing.
Good luck to all
For as much time as they have been working on a website, I am expecting this website to be able to wipe my own a**. I would do it for free for them 3 months ago if they would just give me the info to update it with which obviously doesn't exist.
Miller only took in a little over 800k so my hopes are not that high, look at the recent filing for Miller and I believe they are bigger than Magellan but dont know that for sure so the fact that 3 billion is even on the table is insane maybe more like the millions should be focused on
http://www.sec.gov/Archives/edgar/data/785968/0001161697-09-000725-index.htm
Yeah but I agree with them that news would not cause this huge spike in volume, although positive for the broad market, it could not generate this much attention to mglg
Energy shares all around turned up with the crude supply report being very weak. I am sticking around for the update.
where is the verifiable truth that the OS did in fact decrease by 2 billion??? not that I want to question someones integrity but if that has been public since 7/31/09 then where has it been public at and who released this info to Skillen????
cant view that info I think its my active X controls not allowing it
I agree with the recent request, "someone invite DEWAYNE back it seemed the more he kept posting about how mglg would fall the better we did"
I tell ya this is one loooooooong cup handle
Just throwing this out here, has anyone tried to determine the gross assets they had to report to the state of DE to determine the Franchise tax of $97.21 that they paid.(obviously it is low) The state offers two ways to calculate the tax owed and I am struggling to determine the math behind how they arrived at the tax they paid based on authorized shares and gross assets reported.
I may be wrong but looks like Miller Energy owns most of the acreage as the past three 8k's they have issued have been acquisitions from KY Tenn Oil and others. Has anybody paid much attention to this as it seems all they issue is stock in these transactions and with KYO they requested some monetary funding it had received from the state of TN.
http://www.millerenergyresources.com/investors/sec-filings/
thats great but what about tensions with current shareholders or do we just not matter in the big scheme of things. i say encourage the DD as long as its conducted in a respectful manner
hopefully not regretting putting my money on mglg vs idoi but everyday idoi approaches .005 from .0008 levels i kick myself
I like the lowball estimate figures given, only time will tell
close at 11 and volume dropped after bell???
72 million worth of sales in 9 million increments in last 3 min am I seeing this correct
I am regretting not getting into IDOI at .0008 instead of MGLG it is running great past few days
your point? anyone could have asked the questions i asked and gotten the same response. figured i would share what i received
A response I received today after writing an e-mail to the company that was not rude or beligerent in manner.
There is no estimate as to when the numbers will be available, although we believe it will be very soon. The gas is flowing and there will be numbers. This is a regulated industry. The problem was that we took Citizens Gas time estimate for the availability of the production numbers and included it in the release, which in hindsight, was an obvious mistake as the numbers have still not been made available. I suspect this has more to do with Citizens Gas possibly having to file audited numbers with the state on a monthly basis, and our production likely had to run for at least one full month.
The company has just gotten back to producing status - it is very costly to file audited financials and it is not something that the company is in a position to consider. That may change in the future as the company advances its business plan and is in a financial position to do so.
Regards,
Karen Willoughby
Investor Relations
866-365-4724
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Mobiaus posted that article on this board yesterday and it shows a dark past and beginning for Magellan but cannot speculate as to them overcoming their beginnings and are now free of that past but they do work with reputable companies in TN so one could speculate they have come a long way from 06 and 07
good find and an interesting read
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July 7th at 9:14:32 A.M. (off to vegas with the profits if thats right)
i was in meeting from 9:30-12:00 can anyone sum up a recap of what happened this morning, trying to catch up on the posts and trades
I have several friends from college still at UT in Knoxville which would not be much of a drive for them to atleast snap photos if location is disclosed to a reasonable address
ok Jeff I just gotta know this news I debated with myself but just have to have it at this point
crazy first time I have seen a bil in volume on anything
BREAKING NEWS!!!
THE ONLY MGLG REVENUE FLOWING IS OFF DILUTION OF THE STOCK
almost a billion in volume and were flirting with a red day ??????? make any logical sense of that
The Delaware Secretary of State Annual Filing for Magellan shows those as the old numbers and has the new common and preferred listed as of Nov 2008 as has been posted previously. 20 bil Common 10 bil Pref
Did you pay the $10 or $20 for previous filings or just the recent filing info. I have their file number which you can find just by searching but cannot pull previous filings without payment. I am very familiar with DE filings as I do compliance work for a large corp.
Clearly on the filing they report
Common: 20,000,000,000
Preferred: 10,000,000,000
thank you all for the buying opportunity couldnt agree more
Kool-aid Man 1 Investors of MGLG 0.0001
getting bored with 15 & 16
any recommendations of online brokers who are allowing trading of this stock I have scottrade but they will not allow buying in this stock in my account.
i hope all those people in calexico need storage space...
calexico with a whopping population of under 38,000 haha
maybe next week haha!!!
we will hear that till the end of time
can you reply in english and in sentences that are grammatically correct so that we can actually understand you
not that it really matters because this stock is dead but atleast we can follow what your saying
haha the website doesnt even work anymore