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.
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.
Hey Rain!
Thanks! Still holding a stash...
appreciate any info...
Best Regards, H
What I’ve learned is if you want the vision of the company talk to the CEO, if you want an honest assessment of the future performance, ask the CFO.
This is a “Bet on Management”
Once you find a business, company, product you like, management is the most important part of due diligence...ie MMRF
You’re making a bet that the CEO has investor’s best interest at heart and can get the company from point A to point B.
* Phoenix Update 10/10/10
October 10th, 2010 12:40 pm
Phoenix Update, 10-10-10
Seven years.
Seven years ago on Wednesday October the 15th 2003 the new Iraqi Dinar
was introduced to the world.
Seven years ago speculation on the future of the new Iraqi Dinar and
the future of it’s exchange rate was launched.
Seven years ago marked the beginning of the awakening of the mighty giant…mighty Babylon sleeping like a giant by the Euphrates River.
And now…the Giant stirs.
Speculation…..rumor….whispers an innuendo ….flow like wine into the cup of thirsty, parched speculators….cups which seem to never fill but remain always wanting, receptive and open for more…… always thirsting for just one more drop of information…be it fact or fiction…rumor or rant….all is accepted and some rejected but the unending thirst for information remains unquenchable.
7 years.
How much longer? Years? Months? Weeks?
How about…days?
Situation: We are now at the point where all of the political posturing is complete and this past week saw many very important meetings take place world wide.
And the interesting thing on all of these meetings is the lack of information being released and the vague if not blatant elusiveness being presented to the public on the final outcome and decisions which will very soon impact us all.
We saw the Arab League meeting in Syria:
http://articlesofint…ound-world.html
We also saw the IMF and World Bank meeting:
http://articlesofint…to-resolve.html
And the G7:
http://articlesofint…es-finance.html
The activity of all global economic institutions is unprecedented….and the world is sure to see the results of this intense labor soon enough and the fruits of the seeds planted by the world leaders in the meetings and agreements that have lead up to the Global Realignment Of Currencies:
http://articlesofint…alignments.html
So…the question of the day after 7 long years remains….
“Are we there yet”?
Answer: YES!
I speculate that we may see the final formation of the new Government of Iraq led by Prime Minister Maliki to be announced and seated as soon as this Wednesday the 13th with a high degree of probability of the actual seating of the Iraqi Parliament on Thursday the 14th. and an outside default date of the seating of government on Sunday the 17th.
But again this is just my speculation based upon all current events.
Next question….so how soon after the seating of the Government of Iraq will we see the announcement from the CBI about the Iraqi Dinar changes?
Answer: Very soon after. Time is running out for the CBI to have the change completed by the end of 2010…so time is an issue and an issue that bodes well for all investors of the Iraqi Dinar….for the ever ticking clock runs out on the Central Bank of Iraq as the the end of the year draws nearer by the day.
Again….”Are we there yet?”
After 7 years….the answer is finally….YES!
Please be advised…..the “Novel Event”…..is pending and will be launched at any time after the seating of the Government of Iraq.
“Novel Event” coming up!~
Stand by!
The best of luck to all.
Phoenix
‘Focus Has Switched’
“South America seems to be a key area of focus at the moment,” said Beveridge. “The focus has switched from Africa, and it’s all part of China’s desire for energy security and the exceptional growth in demand for oil.”
The Chinese haven't switched off Africa...but the Focus has Switched to a Global Strategy and Africa is a part of it...still unproven as we all know...
Iraq Announces Oil Reserves Of Over 143 Billion Barrels
"SNP did not buy Addax just for the JDZ. Addax had many other assets and proven reserves as well. However, if you read this board, you would think otherwise. Companies pay little for exporation properties. The vast majority of the value of Addax coud be attributed to those proven reserves".
Iraq's oil minister says the country's proven "extractable" oil reserves have risen to over 143 billion barrels.
The new figure represents a significant rise on Iraq's previously announced proven oil reserves of 115 billion barrels.
Oil Minister Hussain al-Shahristani said at a news conference that the new figure was reached with the help of international oil companies working at 12 fields in Iraq.
He said that most of the oil reserves,71 percent, were concentrated in the south of the country, 20 percent in the north, and 9 percent in the center.
Iraq's Oil Ministry has been carrying out surveys to update its oil reserves data, which had not been revised in years.
Iraq depends on oil exports for 95 percent of government revenue.
compiled from agency reports
Radio Free Europe/Radio Liberty © 2010 RFE/RL, Inc. All Rights Reserved.
http://www.rferl.org/content/Iraq_Announces_Oil_Reserves_Of_Over_143_Billion_Barrels/2176067.html
Iraqi oil reserves estimated at 143B barrels
By the CNN Wire Staff
STORY HIGHLIGHTS
* New estimates could add trillions to Iraqi economy
* Reserves could total 143.1 billion barrels
(CNN) -- Iraq's estimated oil reserves have grown by nearly 25 percent, the oil ministry announced Monday.
"Iraq's oil reserves which are extractable are 143.1 billion barrels," said Hussein al-Shahristani, Iraq's oil minister, based on data provided by Organization of Petroleum Exporting Countries.
The OPEC figures are about 28 billion barrels higher than previous estimates.
At $81 a barrel, about what oil was trading at early Monday, the added reserves would be worth about $2.27 trillion.
About 70 percent of all reserves are concentrated in Iraq's southern oil fields, with 20 percent in the north and 9 percent in the country's center.
mid,SNP did not buy Addax just for the JDZ
Absolutely correct...Sinopec bought Addax Petroleum Corp.last year to gain reserves in Iraq's Kurdistan and West Africa.
China's Hunger for Energy Grows
By SANTIAGO PEREZ, SIMON HALL And BERND RADOWITZ
In one of the largest Chinese oil acquisitions to date, Repsol SA of Spain announced the sale of 40% of its Brazilian assets to China Petrochemical Corp. for $7.1 billion.
The joint venture, valued at $17.8 billion overall, guarantees Repsol the funding to explore the vast and coveted oil fields off Brazil, South America's biggest economy, Repsol said in a statement. Officials at China Petrochemical, or Sinopec Group, couldn't be reached for comment Friday, when most corporate and government offices were closed for China's National Day holiday
The transaction gives China a piece of one of Latin America's largest foreign-controlled energy ventures. It is the latest sign of the country's growing prominence in the international energy sector as it expands both access to and ownership of raw materials needed to fuel the country's economic expansion.
The Repsol deal is only slightly smaller than the biggest oil takeover by a Chinese firm to date, Sinopec Group's $7.2 billion acquisition in 2009 of Addax Petroleum Corp., based in Switzerland.
At the center of the deal are Repsol's holdings in the coveted subsalt area off Brazil, which had been anticipated to constitute a long-term cash cow for the Spanish oil giant. The subsalt play is exceptionally expensive because the oil is found in water depths of more than 2,000 meters and several thousand meters further under the sea bed, below layers of sand, rocks and salt.
Repsol had said that bringing its Brazilian subsalt oil finds into production could cost between $10 billion and $18 billion. Friday's deal eliminates the need for the initial public offering of its Brazilian stake that the company had contemplated, Repsol said.
Meanwhile, analysts at Banco BPI in Portugal said the sale to Sinopec gives a "surprisingly high valuation" to Repsol's Brazilian assets, pricing them at 19% above the bank's valuation.
Repsol was Brazil's third-biggest hydrocarbons producer in 2009, and it has a leading position in exploration activities in Brazil's offshore Santos basin, where the Guara and Carioca fields are located. Repsol produces oil at the Albacora Leste field in the Campos basin, and it has a total of eight discoveries and other exploration blocks in the Santos, Campos and Espirito Santo basins.
Repsol and Sinopec will continue their respective expansion plans in Brazil and will participate, jointly or individually, in future bidding rounds in the area, Repsol added.
Sinopec's Brazil entry frees up Repsol to allocate more exploration resources elsewhere in the world, such as in Western Africa which the company identified as one of its expansion areas.
In June, the International Energy Agency said that overseas investments by China's national oil companies in 2010 looked as though they would outpace by far the $18.2 billion spent in 2009. From January 2009 to April 2010, the country's three state-owned oil majors—China National Petroleum Corp., or CNPC, Sinopec, and China National Offshore Oil Corp.—spent around $29 billion world-wide to acquire oil and gas assets, the IEA said.
In addition to those direct investments, CNPC and Sinopec were involved in 11 loan-for-oil deals with eight countries valued at $77 billion, and the companies entered contracts committing them to invest at least $18 billion in future exploration and development, mostly in Iraq and Iran, the IEA noted.
Brazil is an increasingly important target for Chinese investment, with resources deals valued at $4.3 billion agreed upon so far this year, compared with $362 million in 2009, according to data from Dealogic.
The Brazilian state oil company Petroleo Brasileiro SA, or Petrobras, also agreed to a $10 billion loan from China Development Bank last May in exchange for crude-oil supply to Sinopec Group over 10 years. Petrobras also gave Sinopec, the parent of listed unit China Petroleum & Chemical Corp., rights to explore two deep-water blocks in Brazil for oil and natural gas.
Sinopec Group General Manager Su Shulin in August confirmed that his state-owned company was in talks with Brazil's OGX Petroleo e Gas Participacoes SA over a bid for offshore assets in Brazil.
Under the deal announced Friday, Repsol will retain 60% of the Brazilian venture, which is valued at $17.8 billion following the stake sale agreement. The joint Brazilian operation will develop some of the world's most important exploratory discoveries in recent years, Repsol said in a filing with the stock market regulator.
Sinopec's junior role in Repsol Brasil, as the joint venture is called, marks the continuation of a strategy by China's resource companies to make their overseas investments more palatable by taking minority stakes with partners that have better long-term relations with the host country.
China's biggest oil refiner and fuel marketer, Sinopec Group, has been going overseas aggressively because it currently buys some 70% of the product it refines. For Repsol, with oil demand flat or declining in Europe, teaming up with Sinopec provides access to the biggest energy market in the world, where oil demand is expected to continue to soar.
The deal means Repsol Brasil is "fully capitalized to develop all of its current projects in Brazil, including world-class discoveries in the Guara and Carioca pre-salt basins," Repsol said in a news release.
Repsol and Sinopec Group will continue their respective expansion plans in Brazil and will participate, jointly or individually, in future bidding rounds in the area, Repsol added.
Repsol shares rose 4.95% to close at €19.83 in Spain. Shares in construction company Sacyr Vallehermoso SA, which owns 20% of Repsol, gained 13%, rising to €4.96.
Write to Santiago Perez at santiago.perez@dowjones.com, Simon Hall at simon.hall@dowjones.com and Bernd Radowitz at bernd.radowitz@dowjones.com
Sinopec Group "Focus Has Switched"
“South America seems to be a key area of focus at the moment,” said Beveridge. “The focus has switched from Africa, and it’s all part of China’s desire for energy security and the exceptional growth in demand for oil.”
Oct. 4 (Bloomberg) -- China Petrochemical Corp. is paying a 76 percent premium to take a stake in Repsol YPF SA’s Brazilian unit as the world’s biggest energy user switches its hunt for oil reserves to Latin America from Africa.
Sinopec Group, as China’s second-largest energy company is known, agreed Oct. 1 to pay $7.1 billion for a 40 percent stake in Madrid-based Repsol’s unit, which has reserves in the same area as the biggest oil discovery in the Americas this century. That amounts to $15 a barrel compared with the $8.50 Petroleo Brasileiro SA paid last month for assets in Brazil, said Neil Beveridge, an analyst at Sanford C. Bernstein & Co.
“This shows the importance that China places on securing oil resources overseas,” Beveridge said by telephone from Hong Kong. “This is a key emerging deepwater basin, and there are a lot of developments taking place. Sinopec has a good position established, but the price it has paid is very high.”
Chinese companies spent a record $32 billion last year buying energy and resources assets abroad. Sinopec Group’s investment is the country’s second-largest overseas acquisition and follows the company’s purchase of Addax Petroleum Corp. for C$8.3 billion ($8 billion) last year to gain reserves in Iraq’s Kurdistan and West Africa. Cnooc Ltd. and state-controlled Sinochem Group have paid about $3.1 billion each for stakes in oil producers in Argentina and Brazil.
‘Focus Has Switched’
“South America seems to be a key area of focus at the moment,” said Beveridge. “The focus has switched from Africa, and it’s all part of China’s desire for energy security and the exceptional growth in demand for oil.”
China consumed 8.6 million barrels of oil a day last year compared with 4.47 million in 1999, according to the BP Statistical Review of World Energy. The International Energy Agency estimates demand may reach 11.63 million a day by 2015.
Sinopec Group’s listed arm, China Petroleum & Chemical Corp., rose 1.2 percent to close at HK$6.96 today. The market was shut on Oct. 1 because of a public holiday. Repsol gained 0.2 percent in Madrid, after jumping 5 percent on Oct. 1 to close at a two-year high of 19.83 euros.
Shares of other energy companies with stakes in Brazilian offshore projects advanced Oct. 1 after Sinopec Group’s investment was announced. Galp Energia SGPS SA rose as much as 7.8 percent in Lisbon, while BG Group Plc, the U.K.’s third- largest oil and natural gas producer, climbed as much as 5.8 percent in London.
‘Hefty Valuation’
“This puts a hefty valuation on reserves in Brazil,” said Peter Hitchens, an analyst at Panmure Gordon & Co. in London. “It could read through into BG’s assets.”
Brazil’s state oil company Petroleo Brasileiro, known as Petrobras, issued about $42.5 billion of stock to the government last month in exchange for the rights to develop 5 billion barrels of oil reserves. Beveridge estimates Repsol’s assets in Brazil hold about 1.2 billion barrels of oil equivalent.
Repsol had considered a plan to sell about 40 percent of the Brazilian business through an initial public offering. The company now won’t be selling shares in the unit to the public, Madrid-based spokesman Kristian Rix said Oct. 1.
“For us, Brazil was way too large,” Repsol’s Chief Operating Officer Miguel Martinez said in an interview on Bloomberg Television. “Obtaining a partner was a move that was necessary.” Repsol and Sinopec Group may work together in other areas in the future, he said.
Brazilian Reserves
Spain’s biggest oil company has stakes in Brazil’s Santos and Espirito Santo basins and plans to invest as much as $14 billion there through 2019, in fields that may hold as much as 3 billion barrels.
Since 2007, Repsol and partners BG Group and Petrobras have found hydrocarbons in the offshore Carioca, Guara and Iguacu fields in the Santos Basin’s BM-S-9 block. They are ultra-deep deposits beneath a salt layer under the seabed.
Petrobras estimated in November 2007 that the Santos Basin’s pre-salt Tupi field may contain as many as 8 billion barrels of oil, the largest find in the Americas since Mexico’s Cantarell field in 1976. Repsol doesn’t own a stake in Tupi.
Repsol wants to invest in exploration in Brazil’s offshore Santos Basin and elsewhere to increase reserves and output, while trying to reduce exposure to mature fields in neighboring Argentina. The company forecasts annual production growth of as much as 4 percent through 2014 as projects in Brazil and Peru come on stream. Repsol plans to invest a total of 28.5 billion euros in the period.
Crude oil futures in New York have gained 16 percent in a year to $81.58 a barrel. Prices reached a record $147.27 a barrel in July 2008.
“If oil does go over $100 a barrel, then this deal may look very attractive,” said Beveridge of Sanford C. Bernstein. “It comes down to it either seeing more exploration potential here, or Sinopec’s betting on higher oil prices in the future to justify the price it is paying.”
--With assistance from Joao Lima in Lisbon, Andrea Catherwood in London, Paul Tobin in Madrid and Wang Ying in Beijing. Editors: Amit Prakash, Ryan Woo.
To contact the reporter on this story: John Duce in Hong Kong at Jduce1@bloomberg.net
To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net.
EGMI THE BITTER CONCLUSION
"We all were taken in by this event. If you can't believe the financial statements, the conference calls and the accountants, who are we to believe"...right Yale, who are we to believe? How is it possible that we were so blind and misinformed? Never Again my friend.
The mistakes I made and what I learned
Posted by @stockgod. Mar 18 2010 7:11PM
"It actually took me awhile to understand what I did wrong -- because it's hard to find fault in good numbers, crooks are crooks (assuming they are indeed crooks) - they could just be that stupid".
So as many of you know I bought $EGMI sometime earlier in the year when I saw it dip down below $1.30. I bought it between $1.08 and $1.29, and sold 10% at $1.45. I then watched in horror as the stock dipped to $1.14, I added some, then to $.90, I waited, and to the .80's where I said "okay I'm adding here... " ---
I made so many mistakes in that trade, I don't even know where to begin. My biggest mistake was buying the stock when I knew management was shady from day one. I always said I never trusted the management team, they were incompetent, the pending Poken deal sounded like a joke, etc. The one thing that kept me coming back was the numbers/value, and the hope that management would get their assess kicked and a new team would be formed.
I can't blame @iancassel for me buying the stock. Anyone who blames him is looking for a cop-out for their own loss, rather than owning up to the fact that what we do is risky. We are trading, investing, and collaborating. We need to recognize there's risk in every trade, especially the ones with a shitty management team. Ian was very open and honest with me the entire time, I knew his open market position in the company, and even knew when he took some off the table. He wasn't pulling punches on the management team either. He even supported the stock when it needed support.
First: The tale of the tape and listen to Kunal
Who knew what was about to happen? Well, for one the tape knew. Had I paid more attention to the stupid tape I would have seen the sudden volume bombs near the end. The stock was dropping fast because people were dumping their shares. Obviously someone heard something, and as I understand it one of the ladies on the inside, Anna Houssels, started dumping her shares as low as sub $1. While this lady was dumping I wasn't paying attention. Kunal (kunal00 on twitter) told me to stay away from it, he hated the company in general, but he also didn't trust the "pumper" side of the stock.
Second: Google the insiders
If I knew I was taking a larger position in the company I should have really researched the insiders. Go to Yahoo Finance, look at the insiders, and start to do some Google searches and you'll understand. One of the insiders, Lee Cole, was supposed to be the guy who could save the company. He was the previous CEO and he apparently single handedly created all the business for the company pre the new CEO Kevin Donovan. The problem is Lee Cole has been involved in a number of failed companies, all of them ended up in sub-penny land. Whether it's his fault or not, doesn't matter, his track record isn't exactly solid.
Third: Trust your gut, and always mitigate your risk on a spec stock (don't be a hog!)
The next thing I did wrong, my gut was telling me NOT to add when the stock went under .90. ..but like an idiot I saw people on Twitter buying shares down there, so I decided to double down. I went from a comfortable 50k position to 125k in a matter of two days. My biggest mistake was increasing this position. A position that I had little belief the management knew what they were doing, a position that was a falling knife. I just was completely enamored by the numbers. Now the position was still less than 4% of my daily trading account, but it's still a great deal of money. I know making it back wouldn't be hard.. but no one needs a loss of $125,000 (assuming the stock went to 0).
Fourth: If the numbers are too good to be true, they probably are.
The numbers are actually amazing on this company, assuming they were not fake. When the company got halted by the SEC I could not believe it. I immediately contacted the CEO Kevin Donovan who assured me the company was working on it. Email after email, I received very little back. Come D day when the stock re-launched with NO NEWS I watched as the stock dropped down to .10. I tweeted out that buying EGMI under .15 might be a good gamble (and it was). The stock shot up, and I basically liquidated my entire position at .35 --- but 2 minutes later the stupid company FINALLY launched news saying they are certain the assets won't change. What?! You mean to say you IDIOTS waited for the stock to open, so innocent traders would dump their positions down to .10 and then you'd announce you had the money?
Well that was the final straw for me. The stock went up a little, but now it's back where I sold it. ..and good riddance. As I understand it the only reason the press release was late was because they could NOT find Kevin Donovan to sign the PR. Look at it and you won't see his signature. Want to know where he was? Rumor has it that he was drunk in bed. That's right. The I heard from a reliable source that the CEO of this company let the shareholders lose their shirts while he was drunk in bed. The SEC should have a field day with these guys, and I hope they do.
and the Bitter Conclusion...
Now that's a bunch of shitty circumstances. I took a big loss, roughly 80k --- but considering I thought I lost 125k I say I did pretty good. It hurts to think that I could have bought a 911 Turbo and driven it into a tree, I would have had a much better time than babysitting this bag of paper. A big loss indeed, but again I did do a pretty good job of making it back quickly -- but it did take many large trades, and I also had to lose some of my swing trades to make it happen. It actually took me awhile to understand what I did wrong -- because it's hard to find fault in good numbers, crooks are crooks (assuming they are indeed crooks) - they could just be that stupid.
I don't know.. and while I never like to see anyone lose money, I wish all longs well, I would say there are better ways to repair your trade then to sit in this pool and hope they'll come around --- especially with all of these lawsuits. Either way, never again. I will not invest big positions in speculative stocks unless it meets the criteria above. Tape, Google, Gut, Numbers. TGGN.
Last thing I'd like to say. I feel bad about anyone who followed me blindly into this trade. Although I was clear on the risk, and always made it pretty obvious that I didn't trust the management -- I never wish ill on anyone (not even my haters! - I secretly wish well for them every day).
I am developing a number of strategies that will help make it back. As I said above I already made mine back, even before the stock re-opened. I just hope you learn from my mistakes above!
China reaps benefits of Iraq war
Five oil project have been awarded to critic of invasion
WASIT, Iraq — Perspiration staining their orange jumpsuits, the Chinese engineers and laborers form Al-Waha Oil Co. work alongside their Iraqi counterparts under a sweltering sun readying an expanse of arid land southeast of Baghdad for infrastructure to extract and carry the viscous liquid on which Iraq's future lies: oil.
A red banner hangs at the entrance of the office of the company — the Iraqi affiliate of China's state-owned China National Petroleum Corp. — its Chinese characters promising anyone who can decipher them: "We will try our best to make this project a success."
The scene, an increasingly common one in the new postwar Iraq, is more than a reflection of how the country home to the world's third largest proven reserves of crude is pushing to boost its output. It's also a testament to the lengths to which China will go to secure the oil it sorely needs to fuel its galloping economy as its own crude supplies fall far short of demand.
"For China, oil security is largely about avoiding disruption to supplies and cushioning the effects of dramatic fluctuations in oil prices," said Barclays Capital oil analyst Amrita Sen. "Iraq has become an obvious target to secure the barrels of oil for future consumption."
From among the most outspoken of critics of the 2003 U.S.-led invasion to topple Saddam Hussein, China has emerged as one of the biggest economic beneficiaries of the war, snagging five lucrative deals. While Western firms were largely subdued in their interest in Iraq's recent oil auctions, China snapped up three contracts, shrugging off the security risks and the country's political instability for the promise of oil.
The quest for crude has left a heavy Chinese footprint in a number of countries where others have shied away, whether because of violence, human rights violations or sanctions.
In the broader Middle East, China has helped develop and expand the oil industry in Sudan, a nation whose president is under international indictment for war crimes. It has also signed deals in Iran, where the hardline government is facing a potential fourth round of U.N. sanctions over its controversial nuclear program. Iran has denied claims by the U.S. and others that its nuclear efforts are geared to weapons production.
The result of its efforts is that about half of China's oil comes from the region. It has ousted the United States as OPEC kingpin Saudi Arabia's top oil customer. Saudi Arabia has also set up a joint venture refinery in China.
Iraq, however, has emerged as one of Beijing's best hopes for oil in a world where cheap, reliable sources of new crude are increasingly harder to obtain. While dealing with Iran carries political baggage for China, Iraq is a more calculated risk.
Sanctions in place against Iran sharply limit investments in the country and have largely precluded Western oil majors from aggressively following up on projects there. A potential new sanctions round before the United Nations could expand those restrictions. Even so, Iran is China's third largest supplier.
"Iraq is extremely important for Chinese companies' growth strategy, especially given that Iran is likely to face much of a standstill for years," said IHS Global Insight's Mideast oil analyst, Samuel Ciszuk.
The country, whose oil sector has been battered by years of neglect, war, sabotage and under-investment, produces only about 2.4 million barrels per day — well below its pre-2003 invasion production levels.
But contracts awarded during two oil and gas field auctions over the past year are expected to raise output to as much as 12 million barrels per day within seven years, according to Iraqi officials. Analysts say those estimates are too ambitious.
Either way, production will rise, and China will play a role and stands to benefit.
While the 20-year contracts mainly gave companies a fixed price for every barrel they produce, they also carry the option of payment in crude. That affords the firms a long-term and stable supply of oil. The contracts can also be extended for five more years.
China's energy needs are as obvious as they are challenging. While the world struggled with its worst recession in over six decades, China's economy expanded by 8.7 percent in 2009. The International Monetary Fund forecasts growth of 10 percent this year.
A recent report by Platts, the energy information arm of McGraw-Hill Cos, found that China's demand for oil hit 8.43 million barrels per day in April, a 12.7 percent increase over April 2009 levels. Current demand is more than twice China's domestic production.
Of a dozen deals the Iraqi central government awarded since 2003, four went to China. The autonomous, oil-rich Kurdish region in the north independently signed nearly two dozen oil deals with foreign companies, one of them with China.
The Chinese oilmen with Al-Waha, sweating under the sweltering Iraqi sun while drilling wells and preparing the ground to build other infrastructure in the relatively peaceful Wasit province, are among the first signs of that new cooperation.
The company started exploring the southeast of Baghdad near the Iranian border last year, but ran into trouble with farmers there after it destroyed some crops.
Iraqi officials stepped in quickly, meeting with local tribal leaders to calm tensions.
The incident showed Iraq's determination to not upset the international oil companies operating in the country. It also speaks of the growing presence of Chinese wildcatters in an industry once dominated by western oil majors. Those companies, however, failed to bid as aggressively as many anticipated — focusing their sights instead on fields in relatively stable regions where the oil was also easy to extract.
The Chinese had no such qualms.
Officials have hired 350 people from the area to protect the oil infrastructure, and dozens more will provide support services.
"I think the political and social environment is good, said Miao Youliang the Chinese project manager at al-Waha. "The security was not so bad as we imagined."
A Tale of Two Chinas
http://finance.yahoo.com/news/A-Tale-of-Two-ms-4048610208.html?x=0&.v=1
Rich, poor. Urban, rural. East coast, western interior. The disparities in China's health-care market are striking for a country that values egalitarianism. Some critics even claim that China's current health-care crisis is more dramatic than the U.S. crisis, and when we dig into the figures (some of which are shown in Table 1), we can see validity in that claim. Reform efforts are underway in China, and in this article we explore the government's goals and the market opportunities that could be created as a result of those reform efforts.
To see tables associated with this article, click here:
http://news.morningstar.com/articlenet/article.aspx?id=347400
Demographics Beginning to Mirror the U.S.
The sheer size of the potential Chinese market is difficult to ignore. With 1.3 billion people, China stands head and shoulders above any country in terms of potential patients. However, a closer look at the composition of China's populace reveals a much smaller, albeit still very large, likely patient pool. About 600 million people are considered urban residents, while over 700 million are considered rural residents. Some critics even claim that this statistic overestimates the urban population several times over by including some relatively small population centers where most people likely can't afford substantial care. Either way, the urban and rural distinction is important because the rural population is disadvantaged in terms of access to and quality of care.
However, even without significant uptake in rural patients, China's health-care market could continue growing at a blistering pace. With improving nutrition and better control of infectious diseases, life expectancy has risen dramatically from the mid-30s in 1950 to over 70 in recent years. Given this rise in life expectancy and the one child per couple policy, China's population is aging in a similar pattern as developed countries with similar disease trends as shown in Table 2. China's elderly population looks on the verge of exploding, and the incidence of chronic diseases associated with aging such as Type II diabetes, heart disease, cancer, and osteoarthritis could surge in the coming years. Industry leaders in the treatment of several chronic, more Western-style disease states, such as Johnson & Johnson (NYSE:JNJ - News), Novo Nordisk (NYSE:NVO - News), Pfizer (NYSE:PFE - News), Roche (Other OTC:RHHBY.PK - News), and Zimmer (NYSE:ZMH - News), could all stand to benefit from targeting opportunities in China.
To see tables associated with this article, click here:
http://news.morningstar.com/articlenet/article.aspx?id=347400
Insurance Coverage Levels Still Low
In our opinion, America's insurance coverage problems look tame compared to China's dilemma. Table 3 shows that while many wealthy, urban people in China carry insurance, a huge portion of the population remains uninsured, particularly the rural poor.
To see tables associated with this article, click here:
http://news.morningstar.com/articlenet/article.aspx?id=347400
Coverage for catastrophic events is limited primarily by wealth in China; about half of all health expenditures are paid out of pocket. Insurance in China primarily covers hospital care and still requires large deductibles. The burden of health care in China is largely on individuals, and rising costs--driven by increasing utilization of technology such as drugs and devices--have priced many people out of the market.
Profit-Driven Delivery System Highlights Differences in Urban versus Rural Care
Since the government has largely privatized care, Chinese caregivers run on a for-profit, fee-for-service basis similar to the U.S. system. While the government has maintained tight controls over routine services, it permits caregivers to earn significant profits on new drugs, tests, and other technology. With new technology serving as the key profit center for caregivers, prescription levels of these products and services can be quite high. Critics of China's system claim that drugs are often prescribed for unintended uses to pad the profits of caregivers.
We think this profit-driven mentality has led to care levels that correlate with patient wealth levels. Today in China, wealthy, urban patients who can afford it are demanding modern medicine practices with high-priced new technology that is highly profitable for caregivers. Many rural patients don't have the means or insurance to receive such care. Caregiver incentives appear to be reinforcing the have/have-not dynamic in Chinese health care, and China's health-care system can be characterized as swollen in urban centers and razor-thin in rural areas as a result.
Reform Should Increase Demand for Drugs and Devices
The problems above and rising medical costs are fueling health-care reform efforts. The Chinese government will spend about $125 billion by 2011 to accomplish several goals. First, China wants to cover 90% of the population with medical insurance by 2011 and cover the whole population by 2020. The government will try to equalize the disparity between its basic urban and cooperative insurance for rural citizens and increase the subsidies to $18 per year to help citizens deal with the cost.
Another initiative involves improving the quality of rural care. This reform involves building more hospitals, especially in rural areas, and purchasing medical equipment with the goal of each county having one standardized hospital. The sharing of medical expertise will also bolster care in these local hospitals. The reform bill mentions training programs and moving personnel to rural areas. We think medical device and equipment companies that can win a bid in the tender process at either the provincial or central level can benefit from this increased construction and demand.
China will attempt to increase access to pharmaceuticals by building a list of essential medications and mandating their availability in rural areas. The government will select these drugs based on considerations like disease prevalence and cost, and insurance schemes will cover these drugs at a higher rate. The government will set prices and oversee the distribution of these medicines. Efforts to mediate drug prices should limit a hospital's incentive to profit from prescribing expensive and unnecessary drugs. In return, hospitals could get government subsidies or charge additional fees. We think firms that make generic drugs will benefit from this provision.
However, skepticism still remains about the effects of reform. In particular, critics worry whether government subsidies and regulation will be enough to change hospitals' incentives to profit from prescriptions or tests. Some wonder what the new reimbursement will be like and how much will be paid out of pocket. For now, it seems too early to tell whether these reforms can dramatically improve the disparity in care between rural and urban areas. However, we think that it will positively impact the demand for drugs and devices for companies that effectively invest in China.
If the JDZ is deemed to be worth developing it will be an extensive and complicated project
"At this stage in the game the best news us speculators can hope for is that the operators are going to proceed to Phase Two. Nothing else will mean all that much".
Posted by: bsk2007
Date: Saturday, January 02, 2010 10:05:16 AM
In reply to: Post # of 219458
If the JDZ is deemed to be worth developing it will be an extensive and complicated project. If it took 42 holes to exploit Akpo we may be looking at 100 holes to develop the JDZ. It is way too early in the game to figure out how many barrels of oil this or that well may produce. They are just now in the top of the first of a 9 inning game.
So far there have been 6 exploratory drills, 5 of which are new. It's very evident that the purpose of these 5 wells is strictly information gathering. None of them can be used for production later on so don't get excited when you read that they have been abandoned. I fully expect each of these holes to be plugged and abandoned when they are done with them, but due to the tremendous pressures they have encountered the challenge for them will be to plug them safely and not compromise the resevoirs in doing so.
The information that will be released in the near future will be sketchy at best simply because Addax wouldn't dare release information to the public that in the future may prove to be false. Addax may release feet of net pay but that figure won't reveal the size of the find or the volume of hydrocarbons that can ultimately be produced. They may release something about finding gas in block 2, or gas and oil in block 4 etc. but it will be nothing specific.
They simpy don't know yet. It will take many many more holes to determine the type of information that you all want to hear.
I don't think anybody would have liked what they read if the results of drilling were released in December. We would have been reading how every hole was a dud and they were all plugged and abandoned.
Instead we are reading about how they have to go back in and do more testing. That's a good thing. It means they liked what they found. It would really be a good thing if they didn't release anything for several months. The longer they wait to release information the more exact that information will be.
I will be excited if they publish that they are going to run more seismic. That means they want a closer look at some target prospects so they can study in fine detail what's down there. Will they run some 4D??....you live for that!
Politicians can say anything they want to about their own prospects. The problem with this is their information isn't very reliable because they only know partial information. Leaks aren't much more reliable because the sources don't know the whole story either. The only reliable source of information is what is put out by Addax/Sinopec.
Since Addax and Sinopec are the operators they are held legally liable for what they release to the public, so they will only release information that is absolutely, 100% provable. Since not much of anything has been proven yet they aren't going to risk a massive lawsuit by spilling their guts on what they think is down there.
At this stage in the game the best news us speculators can hope for is that the operators are going to proceed to Phase Two. Nothing else will mean all that much.
I appreciate the efforts of Peter Ntephe. He is going way beyond the extra mile in trying to keep us stock speculators informed.
I'm just playing around with the bold and color features. I wish purple was available.
I hope the Vikings can get Sam Bradford in the draft. He could be groomed under Favre for a year and then take over.
Happy New Year.
bsk
Nigerian President Calls for Unrelenting Prayer for His Country
Success
Kanayo Uchime (August 4, 2010)
"No matter the wisdom, skills and ability I have, I cannot succeed except with God."
(Abuja, Nigeria)—Dr. Goodluck Jonathan, President of the Federal Republic of Nigeria, has called on Nigerian religious leaders "not to relent" in "praying for the peace of the country."
Dr. GoodluckThe President stated this during a Prayer Breakfast organized by the Aso Villa Chapel in the State House, Abuja, the nation's capital, on Saturday, July 31, 2010.
He acknowledged that the collective prayers, offered by men and women of God, is what has been keeping the country, adding that more prayers are needed to make the country perform better.
He went on to say that "the way out of the challenges facing the country" was through a "trust in God," and he enjoined religious organizations to pray to God to guide Nigerian leaders "to lead the nation properly."
Referring to the Scriptures where the children of Israel experienced calamity as a result of their deviation from God, the President said that it is a "dangerous thing to turn away from God," pledging that he will continue to trust in God to direct him as he leads this West African country.
"No matter the wisdom, skills and ability I have, I cannot succeed except with God," he remarked.
Speaking during the event, Pastor William Kumuyi, the General Overseer of the Lagos-based Deeper Life Bible Church, gave an exhortation entitled, "The Awesome Responsibility of Choosing our Future."
The pastor said that everyone has been given the opportunity to choose his future, stressing that Nigeria has come to a "critical moment in its history."
He called on all Nigerians to be involved in "bringing about the change that will guarantee a glorious future of the country."
Source: ASSIST News
ALERT: New MMRGlobal SEC Filing
Friday, July 30, 2010 2:07 PM
From:"MMRGlobal"
A Form 4 regarding MMRGlobal has been filed with the United States Securities and Exchange Commission.
To View the filing please click here
Sometimes, good companies have to make some tough choices in order to get to the next level. This Dutchess deal came from waaaaaaaaaaaaaay out of left field, so I'm not sure how this is going to play out...GLTY
MMRF has one of the best CEO's in pennyland and one of the best products to offer. Sometimes, good companies have to make some tough choices in order to get to the next level. 100% timing issue for me here....I don't have one bad thing to say about RHL or MMRF. Both are winners long term imho.
I don't think you should be gambling on it.
That's what makes this all a game we must make our mark upon individually. My guess is this stock will continue to be very heavily day traded for a long time so if you are going long you'll probably have to sweat out many swings.
Also, I think there may be a finite level this can really go to with the awards in hand. It is a large OS. At a little over $2 the market cap would be around a billion dollars.
Even if the reserves are calculated to produce far more than that over
time, it may be years before the first income so I suggest you really
should be realistic about the valuation models for this stock in the
next year. Even asset valuation has its limits with a large OS and
limited revenues for a long time.
I think holding ERHE very long term may work out very well with the partner they have if you are thinking in terms of 2-4 years, but there may be a long wait for revenues.
As such, I question whether you will see a triple or quadruple in the next year and I think you can do that much better elsewhere after that point.
Nigeria's agony dwarfs the Gulf oil spill. The US and Europe ignore it
The Deepwater Horizon disaster caused headlines around the world, yet the people who live in the Niger delta have had to live with environmental catastrophes for decades
John Vidal, environment editor
The Observer, Sunday 30 May 2010
Burning pipeline, Lagos A ruptured pipeline burns in a Lagos suburb after an explosion in 2008 which killed at least 100 people. Photograph: George Esiri/Reuters
We reached the edge of the oil spill near the Nigerian village of Otuegwe after a long hike through cassava plantations. Ahead of us lay swamp. We waded into the warm tropical water and began swimming, cameras and notebooks held above our heads. We could smell the oil long before we saw it – the stench of garage forecourts and rotting vegetation hanging thickly in the air.
The farther we travelled, the more nauseous it became. Soon we were swimming in pools of light Nigerian crude, the best-quality oil in the world. One of the many hundreds of 40-year-old pipelines that crisscross the Niger delta had corroded and spewed oil for several months.
Forest and farmland were now covered in a sheen of greasy oil. Drinking wells were polluted and people were distraught. No one knew how much oil had leaked. "We lost our nets, huts and fishing pots," said Chief Promise, village leader of Otuegwe and our guide. "This is where we fished and farmed. We have lost our forest. We told Shell of the spill within days, but they did nothing for six months."
That was the Niger delta a few years ago, where, according to Nigerian academics, writers and environment groups, oil companies have acted with such impunity and recklessness that much of the region has been devastated by leaks.
In fact, more oil is spilled from the delta's network of terminals, pipes, pumping stations and oil platforms every year than has been lost in the Gulf of Mexico, the site of a major ecological catastrophe caused by oil that has poured from a leak triggered by the explosion that wrecked BP's Deepwater Horizon rig last month.
That disaster, which claimed the lives of 11 rig workers, has made headlines round the world. By contrast, little information has emerged about the damage inflicted on the Niger delta. Yet the destruction there provides us with a far more accurate picture of the price we have to pay for drilling oil today.
On 1 May this year a ruptured ExxonMobil pipeline in the state of Akwa Ibom spilled more than a million gallons into the delta over seven days before the leak was stopped. Local people demonstrated against the company but say they were attacked by security guards. Community leaders are now demanding $1bn in compensation for the illness and loss of livelihood they suffered. Few expect they will succeed. In the meantime, thick balls of tar are being washed up along the coast.
Within days of the Ibeno spill, thousands of barrels of oil were spilled when the nearby Shell Trans Niger pipeline was attacked by rebels. A few days after that, a large oil slick was found floating on Lake Adibawa in Bayelsa state and another in Ogoniland. "We are faced with incessant oil spills from rusty pipes, some of which are 40 years old," said Bonny Otavie, a Bayelsa MP.
This point was backed by Williams Mkpa, a community leader in Ibeno: "Oil companies do not value our life; they want us to all die. In the past two years, we have experienced 10 oil spills and fishermen can no longer sustain their families. It is not tolerable."
With 606 oilfields, the Niger delta supplies 40% of all the crude the United States imports and is the world capital of oil pollution. Life expectancy in its rural communities, half of which have no access to clean water, has fallen to little more than 40 years over the past two generations. Locals blame the oil that pollutes their land and can scarcely believe the contrast with the steps taken by BP and the US government to try to stop the Gulf oil leak and to protect the Louisiana shoreline from pollution.
"If this Gulf accident had happened in Nigeria, neither the government nor the company would have paid much attention," said the writer Ben Ikari, a member of the Ogoni people. "This kind of spill happens all the time in the delta."
"The oil companies just ignore it. The lawmakers do not care and people must live with pollution daily. The situation is now worse than it was 30 years ago. Nothing is changing. When I see the efforts that are being made in the US I feel a great sense of sadness at the double standards. What they do in the US or in Europe is very different."
"We see frantic efforts being made to stop the spill in the US," said Nnimo Bassey, Nigerian head of Friends of the Earth International. "But in Nigeria, oil companies largely ignore their spills, cover them up and destroy people's livelihood and environments. The Gulf spill can be seen as a metaphor for what is happening daily in the oilfields of Nigeria and other parts of Africa.
"This has gone on for 50 years in Nigeria. People depend completely on the environment for their drinking water and farming and fishing. They are amazed that the president of the US can be making speeches daily, because in Nigeria people there would not hear a whimper," he said.
It is impossible to know how much oil is spilled in the Niger delta each year because the companies and the government keep that secret. However, two major independent investigations over the past four years suggest that as much is spilled at sea, in the swamps and on land every year as has been lost in the Gulf of Mexico so far.
One report, compiled by WWF UK, the World Conservation Union and representatives from the Nigerian federal government and the Nigerian Conservation Foundation, calculated in 2006 that up to 1.5m tons of oil – 50 times the pollution unleashed in the Exxon Valdez tanker disaster in Alaska – has been spilled in the delta over the past half century. Last year Amnesty calculated that the equivalent of at least 9m barrels of oil was spilled and accused the oil companies of a human rights outrage.
According to Nigerian federal government figures, there were more than 7,000 spills between 1970 and 2000, and there are 2,000 official major spillages sites, many going back decades, with thousands of smaller ones still waiting to be cleared up. More than 1,000 spill cases have been filed against Shell alone.
Last month Shell admitted to spilling 14,000 tonnes of oil in 2009. The majority, said the company, was lost through two incidents – one in which the company claims that thieves damaged a wellhead at its Odidi field and another where militants bombed the Trans Escravos pipeline.
Shell, which works in partnership with the Nigerian government in the delta, says that 98% of all its oil spills are caused by vandalism, theft or sabotage by militants and only a minimal amount by deteriorating infrastructure. "We had 132 spills last year, as against 175 on average. Safety valves were vandalised; one pipe had 300 illegal taps. We found five explosive devices on one. Sometimes communities do not give us access to clean up the pollution because they can make more money from compensation," said a spokesman.
"We have a full-time oil spill response team. Last year we replaced 197 miles of pipeline and are using every known way to clean up pollution, including microbes. We are committed to cleaning up any spill as fast as possible as soon as and for whatever reason they occur."
These claims are hotly disputed by communities and environmental watchdog groups. They mostly blame the companies' vast network of rusting pipes and storage tanks, corroding pipelines, semi-derelict pumping stations and old wellheads, as well as tankers and vessels cleaning out tanks.
The scale of the pollution is mind-boggling. The government's national oil spill detection and response agency (Nosdra) says that between 1976 and 1996 alone, more than 2.4m barrels contaminated the environment. "Oil spills and the dumping of oil into waterways has been extensive, often poisoning drinking water and destroying vegetation. These incidents have become common due to the lack of laws and enforcement measures within the existing political regime," said a spokesman for Nosdra.
The sense of outrage is widespread. "There are more than 300 spills, major and minor, a year," said Bassey. "It happens all the year round. The whole environment is devastated. The latest revelations highlight the massive difference in the response to oil spills. In Nigeria, both companies and government have come to treat an extraordinary level of oil spills as the norm."
A spokesman for the Stakeholder Democracy Network in Lagos, which works to empower those in communities affected by the oil companies' activities, said: "The response to the spill in the United States should serve as a stiff reminder as to how far spill management in Nigeria has drifted from standards across the world."
Other voices of protest point out that the world has overlooked the scale of the environmental impact. Activist Ben Amunwa, of the London-based oil watch group Platform, said: "Deepwater Horizon may have exceed Exxon Valdez, but within a few years in Nigeria offshore spills from four locations dwarfed the scale of the Exxon Valdez disaster many times over. Estimates put spill volumes in the Niger delta among the worst on the planet, but they do not include the crude oil from waste water and gas flares. Companies such as Shell continue to avoid independent monitoring and keep key data secret."
Worse may be to come. One industry insider, who asked not to be named, said: "Major spills are likely to increase in the coming years as the industry strives to extract oil from increasingly remote and difficult terrains. Future supplies will be offshore, deeper and harder to work. When things go wrong, it will be harder to respond."
Judith Kimerling, a professor of law and policy at the City University of New York and author of Amazon Crude, a book about oil development in Ecuador, said: "Spills, leaks and deliberate discharges are happening in oilfields all over the world and very few people seem to care."
There is an overwhelming sense that the big oil companies act as if they are beyond the law. Bassey said: "What we conclude from the Gulf of Mexico pollution incident is that the oil companies are out of control.
"It is clear that BP has been blocking progressive legislation, both in the US and here. In Nigeria, they have been living above the law. They are now clearly a danger to the planet. The dangers of this happening again and again are high. They must be taken to the international court of justice."
http://www.guardian.co.uk/world/2010/may/30/oil-spills-nigeria-niger-delta-shell
NIGERIA OIL SPILLS Are WORSE! -Do We Care?
-by John Vidal, The Guardian.
Nigeria's agony dwarfs the Gulf oil spill. The US and Europe ignore it. The Deepwater Horizon disaster caused headlines around the world, yet the people who live in the Niger delta have had to live with environmental catastrophes for decades...
In fact, more oil is spilled from the delta's network of terminals, pipes, pumping stations and oil platforms every year than has been lost in the Gulf of Mexico...
On 1 May this year a ruptured ExxonMobil pipeline in the state of Akwa Ibom spilled more than a million gallons into the delta over seven days before the leak was stopped. Local people demonstrated against the company but say they were attacked by security guards. Community leaders are now demanding $1bn in compensation for the illness and loss of livelihood they suffered.
Few expect they will succeed. In the meantime, thick balls of tar are being washed up along the coast... "We are faced with incessant oil spills from rusty pipes, some of which are 40 years old," said Bonny Otavie, a Bayelsa MP.
This point was backed by Williams Mkpa, a community leader in
Ibeno: "Oil companies do not value our life; they want us to all die.
In the past two years, we have experienced 10 oil spills and fishermen can no longer sustain their families. It is not tolerable."
With 606 oilfields, the Niger delta supplies 40% of all the crude the United States imports and is the world capital of oil pollution.
Life expectancy in its rural communities, half of which have no access to clean water, has fallen to little more than 40 years over the past two generations. Locals blame the oil that pollutes their land and can scarcely believe the contrast with the steps taken by BP and the US government to try to stop the Gulf oil leak and to protect the Louisiana shoreline from pollution.
"If this Gulf accident had happened in Nigeria, neither the government nor the company would have paid much attention," said the writer Ben Ikari, a member of the Ogoni people. "This kind of spill happens all the time in the delta."
"The oil companies just ignore it. The lawmakers do not care and people must live with pollution daily. The situation is now worse than it was 30 years ago. Nothing is changing. When I see the efforts that are being made in the US I feel a great sense of sadness at the double standards. What they do in the US or in Europe is very different."
-SOURCE:
http://www.guardian.co.uk/world/2010/may/30/oil-spills-nigeria-niger-delta-
shell
We will see what happens
Threeflight, just for some clarity for the board...what did you mean regarding this post? Respectfully, HuB
Posted by: Threeflight
Date: Tuesday, June 22, 2010 9:00:46 PM
In reply to: Threeflight who wrote msg# 20472 Post # of 20891
I would say those that sold today because of Dutchess being involved might want to reconsider. Dutchess CANNOT short as per the agreement and MMRF's legal counsel, and in fact Dutchess called me today to talk about MMRF and how they are wanting to build MMRF into a billion dollar company. I don't know about you guys, but I have NEVER heard of Dutchess doing such a thing (calling a shareholder), and I thank Bob for having them do it.
Important post by Tulazl
Posted by: Tulaz1
Date: Sunday, June 20, 2010 4:31:47 PM
Post # of 20902
With or without Dutchess....MMRF will succeed - why? Because deals are done and now its time to deploy.
The fact is that YES Robert Lorsch is the biggest shareholder and any cash that is needed must be healthy for the company. Companies that do not survive are the ones who struggle to pay back their loans (like people that spend more on their credit card than they will be ever able to pay back).
Dutchess is coming in now at a time when during the 3Q there will be hundreds of Kodak resellers all over the world selling MMR Pro - a product there is a very high demand for and will represent $22-$23K per unit (MMRF expects to sell 1,000 units). The UNIS deal is also a very big part of the MMRF future.
China has a population of over 1B people. We will begin to see revenues coming from China starting in the 3rd Q. It will come in pieces, but the first province is almost the size of the US. As if that wasn't enough....this possible Dutchess loan is also coming at a time when cash is needed to fund the Chartis deal which represents the biggest launch of a PHR ever:
The cost of launching Chartis alone will be nearly one million dollars through 2011, requiring translations, personnel, compliance, network infrastructure and platform enhancements necessary to comply with the Company's agreement with Chartis, in what we believe can represent the biggest worldwide deployment of a Personal Health Record."
===============================================================
I've done projections on possible revenues from all of these deals and anyway you estimate it ....there will be much more than $10M in revs coming in from each individual deal (when fully deployed) which will make Dutchess only neccesary for a short amount of time if at all.....
The question I have is....why is it only a standby line of credit? What is in the short term that will allow MMR to possibly not even need a line of credit?
I would assume that Lorsch knows how much will be needed to deploy in China through UNIS, to train Kodak resellers for selling MMR Pro, and for translations and personnel that is required for the Chartis deal - so why not make the deal just a regular deal with good terms - give me the money now and we'll pay you back later??
elsieCat, Re:Perception is Everything
When It Comes to the iPhone, Perception Is Everything.
BUT when it comes to MMRGlobal Marketing and Perception is Everything!
And YES, Bob is brilliant at Marketing...imo
In Reply To Threeflight
Posted by: investbernie
Date: Monday, June 28, 2010 11:00:28 PM
In reply to: Tulaz1 who wrote msg# 20747 Post # of 20893
Just wanted to take a moment to say that, Mr. Lorsch is not only an amazing man, but also the best CEO that I have ever watched and invested in!
Step by step he is creating an amazing company, and year's from now investors will look back in awe at how brilliant his vision was, even in the earliest day's of constructing MMR.
My best to all the longs here, and of course Mr. Lorsch and his management team!
Best Regards, Bernie
WTF?
Posted by: Threeflight
Date: Tuesday, June 22, 2010 9:37:16 PM
In reply to: Tulaz1 who wrote msg# 20474 Post # of 20892
If Bob was adamant about Dutchess calling me, if Dutchess did call me, and if Bob had his lawyer email me, I would say they are pretty sure that Dutchess is out to build a company, and not destroy it lol. I was flabbergasted to have heard from Dutchess I must say.
Buy buy buy. Going much higher!
WTF! Threeflight Repost
Posted by: Threeflight
Date: Tuesday, June 22, 2010 9:00:46 PM
In reply to: Threeflight who wrote msg# 20472 Post # of 20891
I would say those that sold today because of Dutchess being involved might want to reconsider. Dutchess CANNOT short as per the agreement and MMRF's legal counsel, and in fact Dutchess called me today to talk about MMRF and how they are wanting to build MMRF into a billion dollar company. I don't know about you guys, but I have NEVER heard of Dutchess doing such a thing (calling a shareholder), and I thank Bob for having them do it.
Pilot Read this carefully
It is less effective in other subtypes of CD20-positive lymphoma and for retreatment, even with CD20 still expressed. Thus, binding of rituximab to CD20 is not sufficient to kill many lymphoma cells, indicating that there are mechanisms of resistance.
rituximab doesn't stick to many cancers, FVRL's drug could stick now with the new crazy glue someone invented. So now all that $140 million dollars worth of FVRL test data they thought was junk because their drug woudln't stick to the Cancer cells has to be looked at again in light of now it could stick because of the new crazy glue someone invented. That's why this stock could go to many, many dollars by taking over a big chunk of rituximabs $5.6 billion in sales and is why the China drug guys want in.
Best Success to ALL MMRF'S Shareholders!
Pilot more Rainmaker
Posted by: The Rainmaker
Date: Thursday, April 29, 2010 6:33:54 PM
In reply to: The Rainmaker who wrote msg# 16959
Post # of 20787
MMRF why it could be trading for dollars seriously. Now Biotech is not my thing....so here's a biotech for dummies like me version
MMRF merged into FVRL, got these worthless drugs left in FVRL.
Remember FVRL used to be a big NASDAQ stock, raised 100's of millions for their promising cancer drugs. They failed a late phase 3 trial. The problem is their cancer drug wasn't being absorbed into the cancer to do it's curative thing.
The FVRL drug failed because the cancer cells wouldn't absorb FVRL's medicine. They cure the cancer but the drug bounces off the cancer before it gets absorbed and kills the cancer.
Some guy recently comes up with a binding agent let's call it cancer drug super glue. This super glue now allows FVRL's medicine to actually stick to the cancer cells. Not just stick, but actually become absorbed. Remember if their drug gets absorbed into the cells it can kill the cancer. Now the medicine doesn't just bounce off the cancer it gets soaked in and starts curing the cancer. Who the F knew that would happen. Someone invented a drug crazy glue that works
on the drugs MMRF got from FVRL they thought were worthless. Now they might be worth billions.
Read this carefully
It is less effective in other subtypes of CD20-positive lymphoma and for retreatment, even with CD20 still expressed. Thus, binding of rituximab to CD20 is not sufficient to kill many lymphoma cells, indicating that there are mechanisms of resistance.
rituximab doesn't stick to many cancers, FVRL's drug could stick now with the new crazy glue someone invented. So now all that $140 million dollars worth of FVRL test data they thought was junk because their drug woudln't stick to the Cancer cells has to be looked at again in light of now it could stick because of the new crazy glue someone invented. That's why this stock could go to many, many dollars by taking over a big chunk of rituximabs $5.6 billion in sales and is why the China
drug guys want in.
Beazy Read Rainmaker
Posted by: The Rainmaker
Date: Thursday, April 29, 2010 6:18:59 PM
In reply to: YankeeFanLa81 who wrote msg# 16958
This is what they have imho....a better version of this one with sales of $5.6 billion in sales. People are scrounging over pennies right now....this time we're talking dollars not pennies, imho.
http://www.ncbi.nlm.nih.gov/pubmed/14576843
Rituximab (monoclonal anti-CD20 antibody): mechanisms of action and resistance.
Rituximab, a chimeric monoclonal antibody targeted against the pan-B-cell marker CD20, was the first monoclonal antibody to be approved for therapeutic use. Treatment with rituximab at standard weekly dosing is effective in more than 50% of patients with relapsed or refractory CD20-positive follicular non-Hodgkin's lymphoma, but is not curative. It is less effective in other subtypes of CD20-positive lymphoma and for retreatment, even with CD20 still expressed. Thus, binding of rituximab to CD20 is not sufficient to kill many lymphoma cells, indicating that there are mechanisms of resistance. Mechanisms of cell destruction that have been demonstrated to be activated by rituximab binding to CD20 include direct signaling of apoptosis, complement activation and cell-mediated cytotoxicity. The relative importance of each of these mechanisms in determining clinical response to rituximab treatment remains a matter of conjecture. Thus, the role of various resistance pathways, some documented in experimental systems and others still hypothetical, remains uncertain. Resistance could potentially be mediated by alterations in CD20 expression or signaling, elevated apoptotic threshold, modulation of complement activity or diminished cellular cytotoxicity. As the first of an expanding class of anticancer agents, lessons learned regarding the mechanism of rituximab action and resistance will be of increasing importance.
MMRF merged into FVRL, got these worthless drugs left in FVRL.
Remember FVRL used to be a big NASDAQ stock, raised 100's of millions for their promising cancer drugs. They failed a late phase 3 trial. The problem is their cancer drug wasn't being absorbed into the cancer to do it's curative thing.
The FVRL drug failed because the cancer cells wouldn't absorb FVRL's medicine. They cure the cancer but the drug bounces off the cancer before it gets absorbed and kills the cancer.
Some guy recently comes up with a binding agent let's call it cancer drug super glue. This super glue now allows FVRL's medicine to actually stick to the cancer cells. Not just stick, but actually become absorbed.
Remember if their drug gets absorbed into the cells it can kill the cancer. Now the medicine doesn't just bounce off the cancer it gets soaked in and starts curing the cancer.
Who the F knew that would happen. Someone invented a drug crazy glue that works on the drugs MMRF got from FVRL they thought were worthless. Now they might be worth billions.
It is less effective in other subtypes of CD20-positive lymphoma and for retreatment, even with CD20 still expressed. Thus, binding of rituximab to CD20 is not sufficient to kill many lymphoma cells, indicating that there are mechanisms of resistance.
rituximab doesn't stick to many cancers, FVRL's drug could stick now with the new crazy glue someone invented. So now all that $140 million dollars worth of FVRL test data they thought was junk because their drug woudln't stick to the Cancer cells has to be looked at again in light of now it could stick because of the new crazy glue someone invented.
That's why this stock could go to many, many dollars by taking over a big chunk of rituximabs $5.6 billion in sales and is why the China drug guys want in.
I beleive they will license the various biotech assets to larger Pharma/biotech companies. These larger companies would pay MMRF licensing fee's, milestone payments and a percentage of future sales while covering all expenses along the way. Don't for one second expect MMRF to self fund these drug trials.
We got the first sign of one of these licensing deals with this news. Expecting to see several more deals like this one going forward.
MMR: MMR Info Systems And Sanofi-Aventis Enter Into Agreement Regarding Anti-CD20 Monoclonal
Rainmaker, apologizing for being too BOLD
Your thoughts are appreciated.
You seem to be a man of integrity.
While half of the posts on this board seem to be preoccupied with whether the PPS would be up or down in the next hour, I am sure there are savvy people like yourself taking a macro view of the price and holding their positions.
This was a stock during the the last CC for hyperactive traders, but the overall trends and support are equally encouraging and bode well for the possibilities going forward imo.
We are still in our infant stages here with MMRF with good potential still waiting imo.
All the Best,
Hub
RAINMAKER,
"Next weeks Revenue projections should be a watershed event which takes this stock to much higher levels."
What MMRF revenue projections are we expecting during 2010?
HuB
The only thing start up companies have to raise capital is stock.
They don't have a history of company business successes to take to a bank for funding. No assets, receivables or margins.
In order to execute any business plan you need cash. If one wants their favorite company to success, they should want them to have cash.
So if they sell shares, give them for funding, or offer warrants, options or conversion rights to raise cash, that is good!
Dilution scares, just another term penny players use incorrectly. Dilution can hurt exchange stocks perceived value, not their real value, but not wanting or expecting it, in startup pennyland, is just wrong!
Why would you put your money into a story belief and not want them to raise the cash needed to succeed? Besides, if any penny does grow enough to up list off the OTC, 95% of them do reverse splits to meet up listing requirements anyway.
The main thing wrong about dilution hurting a startup is, the only thing dilution effects is the EPS. (earnings per share) And startups DON"T have earnings, so they don't have an EPS and dilution actually does not effect anything!!!
Pennyland O/S is not relevant, if it helps the company raise the capital needed to succeed. Just the basics of crawling to walking to running for a company. Feed them to grow, put them on a diet to fit in and balance intake for the long hall.
Dutchess is one of the well-know "predator" firms that offer this kind of financing. That MMRF had to go this route indicates they could not get something better, at least not quickly.
Posted by: nsomniyak
Date: Wednesday, September 16, 2009 5:51:32 PM
In reply to: Blue Sky Basin who wrote msg# 12473 of 20250
A toxic financing is structured to allow the financier to buy stock from the company at below-market prices (then presumably make their money by selling the stock at market).
specifically, the price to the financier is something less than the prices over the last week or month (i.e. 85% of the average closing price for the last month, or 90% of the lowest closing price over the last..., etc.).
The financier has a guaranteed profit, and in fact has an incentive to short the stock down so that the company must issue them more shares to raise a given amount of cash.
In extreme cases you get a "death spiral" situation.
This financing is not as punitive in its terms as some, but that is like saying it is a "little pregnant".
Dutchess is one of the well-know "predator" firms that offer this kind of financing. That MMRF had to go this route indicates they could not get something better, at least not quickly.
Occasionally (once in a long whole, rare enough to be notable) you will see a company that pays off a Dutchess or Cornell or another financier of that ilk. Such stocks usually then get a pop, as it is like getting out from under an onerous burden.
These deals are not like having a fund or institution buy into a private placement of restricted or even free trading stock. In that case the financier is on our side in that they rpofit when the stock goes UP. Toxic financiers generally don't give a cra* about the company or its stock, and sell the shares they get as soon as they can. They can actually make more money, with almost no risk, if the stock goes down.
These kinds of financiers can short a stock in order to get shares at cheaper prices and hedge against their positions. You know that. But it does look like the way Lorsch has created terms that will make that activity difficult.
http://www.dutchessopportunity.com/dealhistory.html
www.dutchessopportunity.com/dealhistory.html
Over The Counter Bulletin Board (OTCBB): Your Days May Be Numbered
By Jonathan | June 4, 2010 10:31 AM EDT
There is talk within the industry that the OTC Bulletin Board as we know it may be coming to an end. Why? Let’s look at the facts. For starters, the OTCBB was created twenty years ago as a result of the Penny Stock Reform Act of 1990 as a way of differentiating and promoting small businesses in the United States. The OTCBB is currently owned by the Financial Industry Regulatory Authority, better known as FINRA. Certainly there is a conflict of interest in both owning and regulating at the same time, but that’s not what’s really important. What is relevant is that the system has received little upgrades in those twenty years and the platform is now what many consider archaic as FINRA has done little to promote the OTCBB and even less to keep it up to date with technology. Also factual, FINRA has had the OTCBB up for sale since last September.
So what will become of things if the OTCBB disappears? There are several options. The OTCBB could be purchased and undergo a major overhaul to update the technologies. A more viable answer, however, is the possible incorporation with a platform such as the emerging Pink OTC Markets. The Pink OTC Markets purchased the nearly 100 year old Pink Sheets and has been growing and transforming the quotation platform consistently over the last few years. What started as a quotation system for only small, non-exchanged listed companies has now grown into a three-tier ranking system that includes about 99% of all OTC listed companies. In fact, there are less than 60 companies that are currently only quoted on the Bulletin Board.
Pink OTC is a logical choice for many reasons, but its three-tier system is especially enticing for investors to differentiate the quality of a corporation. The process is along the same lines as being a publicly traded company. Each exchange carries regulations and a hierarchy (i.e. NYSE, NASDAQ, AMEX). The same would run true for the OTCBB. In order to not try and have to re-write every ticker for every OTC listed company, the Bulletin Board exchange would have sub-listings. Presently, Pink OTC’s three tiers are:
• Pink Sheets: for companies that undertake minimal reporting and disclosure
• OTCQB: for registered and SEC reporting companies
• OTCQX: for companies that submit themselves to further scrutiny and meet specific minimum thresholds
The OTCQX is designed to be the final step as companies look to move to larger exchanges.
A key component to the Pink OTC Markets is the desire to provide protection to investors, putting an end to scam corporations and legitimizing the OTC industry. In a world that has become wrought with inconsistencies and its reputation damaged virtually beyond repair, Pink OTC is stepping forth to correct years of damage. “We are sending the message that this is not the old OTC,” said Tim Ryan, the head of business development at Pink OTC Markets.
Pink OTC has invested considerable time and finances in developing their quotation platform to the state-of-the-art technological level that it now is. It would seem logical that they may be interested in advancing their business strategy to the next level by purchasing the OTCBB. Rumor has it that the two organizations (FINRA and Pink OTC) are in negotiations, but no official press has been released regarding offers being submitted or accepted.
http://www.ibtimes.com/articles/26955/20100604/over-the-counter-bulletin-board-otcbb-your-days-may-be-numbered.htm
Pilot, International Building Technologies Group, Inc.
Became INBG formerly known as MotorSports Emporium, Inc. after MSEP
scammed it's shareholders & INBG bought the shell company...EOM
Invest your hard earned money in MMRF...Best Regards, HuB
International Building Technologies Group, Inc. Has New Ticker Symbol
Date : 08/16/2007 @ 8:30AM
International Building Technologies Group, Inc. Has New Ticker Symbol
International Building Technologies Group, Inc. (OTCBB:INBG), formerly known as MotorSports Emporium, Inc., changed its name, CUSIP number and ticker symbol. International Building Technologies Group, Inc. is quoted on the OTCBB under the stock symbol INBG. The Company?s new CUSIP number is 459190104.
?The name change, new stock symbol and CUSIP number reflects the new direction of this company,? stated INBG President Kenneth Yeung.
?Over the past several months INBG transformed its business away from the motor sports industry into a world wide manufacturer and developer of light panel technology. In just a short few months we?ve forged a new and exciting relationship with an award winning construction and engineering firm (Suining Yinfa) and now have a 51% interest generated from the contract of the four upscale residential apartment buildings project (The Rose Top Grade - Rose Best) in the Sichuan Province of China. We look forward to the future of INBG,? concluded Kenneth Yeung.
About International Building Technologies Group, Inc. International Building Technologies Group, Inc. and its wholly owned subsidiary, International Building Technologies, Inc., are currently transforming the combined business into a world wide manufacturer and developer of light panel technology to be used for residential and commercial businesses, primarily in regions that are at risk of earthquakes and hurricane-like winds. For more information visit www.ibtgi.com. This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company?s analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the ?Safe Harbor? provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
Invest in Leviathan gas sit
The Leviathan natural-gas site off the Haifa shore could be twice the size of the Tamar prospect, the largest gas discovery globally in 2009, and position Israel as a gas exporter in coming years, US oil operator Noble Energy Inc. said Thursday.
“Today is a day of celebration for all of us. The State of Israel is an energy independent country,” Yitzhak Tshuva, controlling shareholder of Delek Group, said Thursday. Delek is a partner in the Leviathan natural-gas find through its subsidiaries Avner Oil and Gas LP and Delek Drilling LP, who each own 22.67 percent.
“The preliminary results of the 3-D seismic survey of the Leviathan structure published by Noble Energy Inc. are exceeding all of our expectations,” he said. “The results will strengthen the country’s economy. In these difficult times, Israel needs more than ever support and geopolitical power opposite other countries in the world.”
In addition to the gas potential at the Leviathan site, the results of a seismic survey had indicated signs of oil at greater depth, Tshuva said..
Noble Energy, which owns 39.66% of the Amit and Rachel licenses forming the Leviathan gas find, announced Thursday the site would be its next exploration target in the region. Based on the seismic survey, Noble Energy said the Leviathan prospect might hold 16 trillion cubic feet of natural gas, with a 50% chance of geological success.
“The option for exporting natural gas has become much more realistic,” Delek Group CEO Asaf Bartfeld said Thursday. “We may be able to supply the European market and the Far East, where demand is highest. Though, of course, at this point, we are waiting to drill and to try and confirm the gas.”
Referring to initial interpretation of 2-D and 3-D seismic data, Noble Energy has estimated resource potential on its eastern Mediterranean sites to be in excess of 30 trillion cubic feet of natural gas.
“In March, when I was last in Israel, I said that Noble Energy planned to be here for decades to come,” Noble Energy chairman and CEO Charles Davidson said Thursday. “I am thrilled that today’s announcement substantiates the potential of a new and significant energy basin in the eastern Mediterranean, which, if successful, could position Israel as a potential energy exporter in future years.
“I would like to congratulate the State of Israel on the discoveries of the last year and a half, which have the potential to strengthen the economy and security of Israel. Noble is honored to be working with our Israeli partners in this historic development.”
In January 2009, the discovery of the natural-gas field 90 kilometers offshore from Haifa, known as Tamar, in which Noble Energy has a 36% working interest, was made by the US-Israel consortium including the Delek Group, through its subsidiaries Delek Drilling and Avner Oil Exploration, Isramco Negev 2, Dor Gas Exploration. Tamar is the largest exploration discovery in Noble Energy’s history, which last year also discovered a natural-gas field at Dalit with gas reserves estimated at 500 billion cubic feet.
“The Leviathan exploration has the potential of being twice the size of Tamar, which was the largest gas discovery globally in 2009,” Richard Gussow, a research analyst at Deutsche Bank, said Thursday.
In addition, Noble Energy confirmed Thursday that the Tamar project remains on schedule for sanction in 2010 and first gas production sales in 2012. Noble Energy on Wednesday increased its expectations for gross recoverable gas resources at Tamar by 33% to 8.4 trillion cubic feet as a result of updated reservoir studies.
“This year we have undertaken significant capital projects to help maintain a high Mari-B deliverability through 2012, and we are working hard to enable Tamar first gas sales late in that same year,” Davidson said.
Noble Energy’s discoveries could provide about 35 years of Israel’s natural-gas needs at projected 2012 demand rates. The capital investment for Tamar is estimated at $2.8 billion.
“With the Tamar project expected to supply Israel with its natural-gas needs for the next three decades, a discovery at Leviathan, should there be one, would be earmarked for export,” Gussow said. “This would likely be through LNG [liquefied natural gas], a long-term process that we believe would take at least six years and would require heavy investment.
“Delek has spoken of Asia as a target market due to the current high prices there, and we believe that the Atlantic market would also be targeted due to Europe’s desire to reduce reliance on Russian gas.”
Bloomberg contributed to this report.