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Whether Janice is right or wrong cannot really be determined yet. What I find even more interesting is that all of these "smart" people on this board keep referring to ING as if they always tell it like it is. Apparently a lot of people have been sleeping through the last year and a half and haven't seen how banks really operate. I'm not saying Janice or even Sid for that matter is right or wrong. Just an observation
It's really not that big a deal and my guess is it will be straightened out. SEC won't do much unless they know for sure that the bonds are just hype. None of us know what contact PFNO has had with the SEC. Maybe there is a reason they haven't bothered
All 6m? That is a serious question as I can't see the buys and sells
I doubt very seriously this is a dump. Do the math
Again you are wrong. The company hasn't diluted anything. You or I don't know that the deal is finished or if they've drawn money on the deal.
You are giving yourself way to much credit. People on here barely want to listen to your self-serving opinions, I kind of doubt a company cares much!!
Please, please tell us where you saw insiders selling to stock. Have you by chance done the calculations on the actual money that's exchanged hands during even the highest volume days? Yeah, its been a real dump!
It's up to you to prove that they don't exist. Since you know for a fact they don't exist, then please enlighten all of us. Everyone is entitled to an opinion, just don't post it as if it is some sort of fact
Well, we know for certain it is two owners deep. They might not be able to acquire them from a bank, but they can certainly acquire them by other people or entities.
Oh Janice. Not many people do buy bearer bonds anymore. Furthermore, it is much easier to dispute bonds that are three or four owners deep at this point.
Had they given a date when we were to hear about the bonds? I don't remember hearing or seeing one. The bonds come due June 16. What would you really like for them to say before that?
Well, since your not the one taking the gamble, it doesn't much matter. Until you know for a fact and can prove they are not real, the rest of us are operating under the assumption that they are. Take the bonds out of the equation just for a second. What else has the company done to make you skeptical? They've followed a pretty solid path thus far with their oil play.
It makes perfect sense if they believe in the oil
There is really no followed rule on this I don't think. It's hard to know the exact rules if they aren't followed. As I posted days ago, many of these large instrument deals are done below board. There are deals done on these that the banks don't want people knowing about.
I keep reminding myself that Sid said he will only put out news when he has it. Not just to appease us. I actually prefer that MO anyway. More credible.
Have you ever ran an early stage company? Cash is king and companies will pay with equity all day if other companies will agree to it. And remember, you are the one saying $.003. That has never been stated anywhere.
They are operating as a normal company would that didn't hold the bonds. This is the progression of how companies operate. If they didn't hold the bonds, then what would you have to question? This stock actually made its biggest move before anyone really got wind of the bonds.
Even if someone is being payed, who cares. How else is a small company going to get their story out? Somebody has to market the company, and they certainly won't do it for free.
Janice, that is absolutely not how it works in these big bank instruments. If that is what you think, you are terribly misinformed
I agree with that. They either are or are not. No gray area.
Company put up a brand new website today. Looks like they are really starting to move forward!
Yes Bob, ING is going to let someone march in and just give them $3.8b. Clearly you don't know much about these type of high value instruments work and how the deals are completed. And yes, I do have quite a bit of knowledge about the issue. Post away though.
Steve is right about that. I think forensic will be important
This has nothing to do with the stock, but I have to laugh because you actually said "facts from Google". We are headed down a bad if people think they get their "facts" from Google. IF Steve can negative about everything, then i suppose I don't have to be a ray of sunshine. The difference is, there is actually thought in what I say!
I just have to laugh. I'll keep mine and let you people do what you do. Just like this comment. No real reason behind anything. Was there a statement put out that the bonds weren't real True Blue? This holding isn't going to make or break me either way. It's just the more I read this board, the more amazed I am at how people think.
I just think everyone is missing the focus here. The company got $6m so they could move forward with their business, which is drilling for oil. Bonds are just a bonus. What if bonds never existed? Everyone would be a lot more excited about the way this company is taking the proper steps to move forward. I just see the bonds as a potential huge bonus. They really don't have much to do with the success of drilling and hitting oil. If you are going long, the only thing that matters is moving forward in the quest to drill.
Stop twisting things up to create controversy. Slaz probably heard the same thing and took that to mean will have info. You've been pretty disappointing so far Steve. So far, since I got into this and have made the mistake of even looking at your posts, here is the baseless things you've said.
Dilution - on one of the lowest volume days of the week. Good one
Bonds are fake - Did you talk to someone at ING? I don't know if they are or aren't. So I will wait and see.
CEO is a liar - has the CEO told you one thing and done another?
You are so full of it. I just have to question what you are really up to here. The rest of us are holding and trying to at least do some research to figure things out. I could care less if you buy or sell, but at least put something on this board that you can back up.
I called and got a call back. Took a while though. I asked him directly about putting out a bond statement and that he told someone he would. He said "I never told anyone anything definite. What I said was, I hope to have more info on the bonds by Thursday". This matches what he told another friend of mine. He used the word hope. I said this a couple days ago in a post.
So you actually have no idea what that document says? Thanks for the help
Was this pulled from Parafin's docs?
Actually, it wasn't really an opinion. It was from a legal expert who deals in this everyday. I am going to send him your comments and let you know what he says. He made it quite clear that governing bodies have put the hammer down on free-trading shares. Are you in the legal arena?
Steve. Please post where you found info that says they've had the lease since 1997. I've been looking and haven't found that yet.
Steve, for the investor to be able to sell in as you put it, wouldn't the shares have to be free-trading? Now I am no expert in this space, but I think it's been made all but impossible to issue free-trading shares in situations like this.
That is finally a good post. It doesn't need to be hyped. If they start working towards putting drills in the ground then the bonds just become a bonus as I stated earlier. All anyone cares about is some bond announcement. I would prefer only getting news if there is news, not just because everyone is expecting it.
Why is everyone so h3ll bent on these bonds. They are more like a bonus. The first day this thing had legs, people invested on the company and its oil potential. That is what this company does. If he so happened to pick up bonds that work out...well that just sweetens the deal.
Once again, you clearly didn't read anything that was in the release. The company is entitled to the interest. Lets think just a little before we post please
I'm not saying it is or isn't. Right out of the CEO's mouth "hope to have more info". That doesn't mean he will. That is all I'm saying. Everyone is banking it, when clearly that is not exactly what was said.
Why is everyone 100% sure there is news coming out. I spoke with someone who spoke to the CEO, and what the CEO apparently said was he hoped to have more news by Thursday regarding the bonds. Everyone here seems to think it is a definite. Not saying there will or won't be, but another poster put out an email he got from the CEO yesterday that stated news will be put out only when there is something to tell, not just for the sake of doing so. I'm hoping but not expecting.
Well Steve, he says right in the PR that they went non-reporting on the advice of legal counsel. What was done was legal. End of story
If you put enough of them together, I suppose it could equal $3b now couldn't it. Common sense man!