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.
Two things first:
Your probably thinking of the capital surplus they need to qualify the regulatory minimum capital surplus requirement for an HMO by depositing $2.5 million into Phyhealth Plan Corporation
Post from
http://www.otcbb.com/asp/Info_Center.asp
Mr. Robert Trinka, chairman and chief executive officer, stated, “As a pioneer in the concept of community-based HMOs that are owned and operated in partnership with participating physicians, we have had to accomplish a number of “firsts”, and we are pleased to report that our efforts are paying off as we move closer to launching our Pilot HMO in the state of Florida later this year. First and foremost, we satisfied the regulatory minimum capital surplus requirement for an HMO by depositing $2.5 million into Phyhealth Plan Corporation, a Phyhealth subsidiary formed in September 2007 to qualify as the applicant for our Florida HMO Certificate of Authority and Medicare Advantage designation. We raised this money in October of 2007 and received subsequent financing of $1.5 million in early 2008 for working capital to set up our health insurance operations and launch our marketing initiatives. We expect our health insurance initiatives to lead to revenue generation by year-end 2008.”
another:
MIAMI, May 21 /PRNewswire-FirstCall/ -- Physicians Healthcare Management Group, Inc. (Phyhealth) (Pink Sheets: PHYH), a developer of health maintenance organizations (HMOs) in partnership with physicians, announced today that it has finalized an agreement with Merrill Lynch's Lloyd Lapointe Group to manage the investments of Phyhealth Plan Corporation, Phyhealth's Pilot HMO. Under the agreement, Merrill Lynch will manage the initial $2.5 million capital surplus plus any additional surplus required to meet state regulations on an ongoing basis, subject to Florida State regulations governing qualified investments for HMOs. Merrill Lynch performs the same service for Physhield Insurance Exchange, Phyhealth's exclusive risk retention group.
The $2.5 million capital surplus, to be managed by Merrill Lynch, is held in Phyhealth Plan Corporation, a Phyhealth subsidiary formed in September 2007, which was established in accordance with Florida insurance regulations and standard industry practice to qualify as the applicant for the HMO Certificate of Authority.
You have to love and hate the update. They have interest but no cash to make it happen. If they get the cash things will happen.
Marketing and Sales initiatives for PhyShield are currently under way in the approved states and the sales pipeline is exhibiting significant and promising activity, suggesting that our first physicians and revenue streams are not far off. Look for the introduction of PhyShield's website in mid March, which will be a solid addition to our marketing package.
Phyhealth has been unable to conclude an acceptable financing arrangement for the capital surplus necessary to implement the Company's initial Phyhealth Plan. While securing this financing remains a priority, we will only pursue the best deal for the company.
Not that I'm for or against and I did a little bottom feeding during the crash, but for what its worth Geer is the only thing UPDA has that was in the black for 2007 :)
B
I don’t agree your stating the 2006 numbers
(3,964,367) (85,783)
Yes they lost cash that year. It would look to me like they bought some hardware because I start to see asset deprecation however we only have 06 & 07 I need 05 to verify. What killed the CFUL was the 92mil dept write down
CFUL Geer
For the Nine
Months Ended
September 30,
2007
NET INCOME (LOSS) AFTER MINORITY INTEREST (91,292,339)
After the 91mil write down we should see cful start to move (big pill to sallow though)
Anyone interested good read
Coming Sooner Than You Think
The Economic Tsunami
By MIKE WHITNEY
"If the world's central bankers accumulate fewer dollars, the result would be an unrelenting American need to borrow in the face of an ever weaker dollar - a recipe for higher interest rates and higher prices. The economic repercussions could unfold gradually, resulting in a long, slow decline in living standards. Or there could be a quick unraveling, with the hallmarks of an uncontrolled fiscal crisis."
New York Times editorial 4-2-05
It seems that there are a growing number of people who believe as I do, that the economic tsunami planned by the Bush administration is probably only months away. In just 5 short years the national debt has increased by nearly 3 trillion dollars while the dollar has continued its predictable decline. The dollar has fallen a whopping 38% since Bush took office, due largely to the massive $450 billion per year tax cuts. At the same time, numerous laws have been passed (Patriot Act, Intelligence Reform Bill, Homeland Security Bill, National ID, Passport requirements etc) anticipating the need for greater repression when the economy takes its inevitable nosedive. Regrettably, that nosedive looks to be coming sooner rather than later.
The administration is currently putting as much pressure as possible on OPEC to ratchet up the flow of oil another 1 million barrels per day (well over capacity) to settle down nervous markets and buy time for the planned bombing of Iran in June. Like Fed Chief Alan Greenspan's artificially low interest rates, the manipulation of oil production is a way of concealing how dire the situation really is. Rising prices at the pump signal an upcoming recession, (depression?) so the administration is pulling out all the stops to meet the short term demand and maintain the illusion that things are still okay. (Bush would rather avoid massive popular unrest until his battle-plans for Iran are carried out)
But, of course, things are not okay. The country has been intentionally plundered and will eventually wind up in the hands of its creditors as Bush and his lieutenants planned from the very beginning. Those who don't believe this should note the methodical way that the deficits have been produced at (around) $450 billion per year; a systematic and orderly siphoning off of the nation's future. The value of the dollar and the increasing national debt follow exactly the same (deliberate) downward trajectory.
This same Ponzi scheme has been carried out repeatedly by the IMF and World Bank throughout the world; Argentina being the last dramatic illustration. (Argentina's economic collapse occurred when its trade deficit was running at 4%; right now ours is at an unprecedented 6%.) Bankruptcy is a fairly straight forward way of delivering valuable public assets and resources to collaborative industries, and of annihilating national sovereignty. After a nation is successfully driven to destitution, public policy decisions are made by creditors and not by representatives of the people. (Enter, Paul Wolfowitz)
Did Americans really believe they could avoid a similar fate?
If so, they'd better forget about it, because the hammer is about to come down big-time, and the collateral damage will be huge.
The Bush administration is mainly comprised of internationalists. That doesn't mean that they "hate America"; simply that they are committed to bringing America into line with the "new world order" and an economic regime that has been approved by corporate and financial elites alike. Their patriotism extends no further than the garish tri-colored flag on their lapel. The catastrophe that middle class Americans face is what these elites breezily refer to as "shock therapy"; a sudden jolt, followed by fundamental changes to the system. In the near future we can expect tax reform, fiscal discipline, deregulation, free capital flows, lowered tariffs, reduced public services, and privatization. In other words, a society entirely designed to service the needs of corporations.
There are a number of signs that the economy is close to meltdown-stage. Even with cheap energy, low interest rates and $450 billion in borrowed revenue pumped into the system each year, the economy is still barely treading water. This has a lot to due with the colossal shifting of wealth brought on by the tax cuts. Supply-side, trickle-down theories have been widely discredited and Bush's tax cuts have done nothing to stimulate the economy as promised. Now, with oil tilting towards $60 per barrel, the economic landscape is changing quickly, and shock-waves are already being felt throughout the country.
The Iraq war has contributed considerably to our current dilemma. The conflict has taken nearly one million barrels of Iraqi oil per day off line.(The exact amount that the administration is trying to replace by pressuring OPEC) In other words, the astronomical prices at the pump are the direct result of Bush's war. The media has failed to report on the negative affects the war has had on oil production, just as they have obscured the incredibly successful insurgent strategy of destroying pipelines. This isn't a storyline that plays well to the American public, who expected that Iraq would be paying for its own reconstruction by now. Instead, the resistance is striking back at the empire's Achilles heel (America's need for massive amounts of cheap oil) and its having a damaging affect on the US economy.
Just as the economy cannot float along with sharp increases in oil prices, so too, Bush's profligate deficits threaten the dollar's status as the world's reserve currency. This is much more serious than a simple decline in the value of the dollar. If the major oil producers convert from the dollar to the euro, the American economy will sink almost overnight. If oil is traded in euros then central banks around the world would be compelled to follow and America will be required to pay off its enormous $8 trillion debt. That, of course, would be doomsday for the American economy. But, a recent report indicates that two-thirds of the world's 65 central banks have already "begun to move from dollars to euros." The Bush plan to savage the dollar has been telegraphed around the world and, as the New York Times says, "the greenback has nowhere to go but down". There's only one thing that the administration can do to ensure that energy dealers keep trading in dollars.control the flow of oil. That means that an attack on Iran is nearly a certainty.
The difficulties facing both the dollar and the economy are not insurmountable. The world has been more than willing to compensate for America's wasteful spending as long as America shows itself to be a responsible steward of the global economy. However, the administration's military and economic recklessness suggests that some of the key players on the world stage (particularly Russia, Iran, Venezuela, Germany, France, China, Brazil) are collaborating on an alternate plan; a contingency plan. If Iran is bombed in an unprovoked act of aggression, we will certainly see this plan activated. The most likely scenario would be a quick switch to the euro that would have grave implications for the American economy. (Russia has already indicated that it will do this) For Iran, an attack would justify arming disparate terrorist organizations with the weaponry they need to attack American and Israeli interests wherever they may be. In any event, an unprovoked attack will dispel the remaining illusions about Bush's war against terror and confirm to everyone that we are engaged in a new world war; a conflict for global domination.
The neoliberal chickens have come home to roost. America has become the latest staging ground for the eccentric economic policies of the Washington Consensus. The towering national debt coupled with the staggering trade deficits have put the nation on a precipice and a seismic shift in the fortunes of middle-class Americans is looking more likely all the time. The New York Times summarized the country's prospects like this:
"The economic repercussions could unfold gradually, resulting in a long, slow decline in living standards. Or there could be a quick unraveling, with the hallmarks of an uncontrolled fiscal crisis."
"An uncontrolled fiscal crisis"... America's future under George Bush. We are facing years of collective struggle ahead. If there's a quick fix, I have no idea what it might be.
Interesting
Is the next report april?
annual and 1st Q?
That was a bad one! Bowl of soup with nothing but broth!
I want some gumbo!
Interesting
Recognia Technical Events™ at Close of Business January 04, 2008
UPDA NASDAQ Universal Property Development and Acquisition Corp
Commodity Channel IndexW $0.03 n/a Short-Term Bullish
Momentum $0.03 n/a Short-Term Bullish
Price Crosses Moving Average (21-week)W $0.03 n/a Intermediate-Term Bullish
I agree I've seen a ton of great alerts then right off the cliff! lol
They need to show positive earnings or real close to that. If they do we all know what happens next.
about to jump off the fence
B
Ericus! is that a trend up?
my god man.... I've been here as long as you.... this is new. lol
The guys have made some good points (real interesting) I may have to get my ass off the fence soon. Still need to see some numbers supporting the PR.
But I must say the expansion & numbers are really getting my interest.
I have not crunched the numbers but it would look like in Q1 or Q2 both CFUL and HTOG could go green. Still need to see some numbers.
One more point of change I don’t see the selling of shares happening well there was some in Nov-Dec. less then we've ever seen. Will it all add up? Time only time will tell
B
You just have to ignore some posters understanding their strategy
I like seeing these Sr. managers now stand to lose everything. as they are now personal Guarantor’s of this acquisition loan. Any person with bad intentions will not become the guarantor of a loan in regards to a scam.
Sec 8k
http://yahoo.brand.edgar-online.com/fetc...
Guaranty Absolute and Unconditional . Each Guarantor waives any and all notice of the
creation, renewal, extension or accrual of any of the Obligations and notice of or proof of reliance by the Lender upon the guarantee contained in this Section 2 or acceptance of the guarantee contained in this Section 2; the Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon the guarantee contained in this Section 2; and all dealings between the Company
and any of the Guarantors, on the one hand, and the Lender, on the other hand, likewise shall be conclusively presumed to have been had or consummated in reliance upon the guarantee contained in this Section 2. Each Guarantor waives to the extent permitted by law diligence,
presentment, protest, demand for payment and notice of default or nonpayment to or upon the Company or any of the Guarantors with respect to the Obligations. Each Guarantor understands and agrees that the guarantee contained in this Section 2 shall be construed as a continuing, absolute and unconditional guarantee of payment without regard to (a) the validity or enforceability of the Loan Agreement or any other Transaction Document, any of the Obligations or any other collateral security therefor or guarantee or right of offset with respect thereto at any time or from time to time held by the Lender, (b) any defense, set-off or counterclaim (other than a defense of payment or performance or fraud or misconduct by Lender) which may at any time be available to or be asserted by the Company or any other Person against the Lender, or (c) any other circumstance whatsoever (with or without notice to or knowledge of the Company
or such Guarantor) which constitutes, or might be construed to constitute, an equitable or legal discharge of the Company for the Obligations, or of such Guarantor under the guarantee contained in this Section 2, in bankruptcy or in any other instance. When making any demand hereunder or otherwise pursuing its rights and remedies hereunder
against any Guarantor, the Lender may, but shall be under no obligation to, make a similar demand on or otherwise pursue such rights and remedies as it may have against the Company, any other Guarantor or any other Person or against any collateral security or guarantee for the Obligations or any right of offset with respect thereto, and any failure by the Lender to make any such demand, to pursue such other rights or remedies or to collect any payments
from the Company, any other Guarantor or any other Person or to realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of the Company, any other Guarantor or any other Person or any such collateral security, guarantee or right of offset, shall not relieve any Guarantor of any obligation or liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of
law, of the Lender against any Guarantor. For the purposes hereof, "demand" shall include the commencement and continuance of any legal proceedings.
(b) Financial Condition . Brink has furnished to the Lender the following financial
information: a statement of personal assets (“ Financial Information â€). The Financial Information was prepared
in accordance with sound accounting principles applied on a basis consistently maintained throughout the
period involved and prior periods and fairly presents the financial condition of Guarantor as of such date.
(a) Organization and Qualification . UPDA is a corporation, duly incorporated, validly
existing and in good standing under the laws of Nevada, with the requisite corporate power and authority to own and use its properties and assets and to carry on its business as currently conducted. UPDA has no subsidiaries other than those identified as such on Schedule 2. UPDA is duly qualified to do business and is in good standing as a foreign corporation in each jurisdiction in which the nature of the business conducted or property owned by it makes such
qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not, individually or in the aggregate, (x) adversely affect the legality, validity or enforceability of any of this Guarantee in any material respect, (y) have a Material Adverse Effect.
Current assets, including 2,945 3,894 4,573
Cash and equivalents 1,004 472 730
Oil and gas properties 3,044 6,390 10,836
Oilfield equipment and pipeline 3,495 6,531 7,203
Other assets 182 223 153
Total Assets 9,667 17,038 22,765
Liabilities, including 3,645 10,432 15,260
Short-term debt 2,140 8,862 11,067
Minority Interest 113 110 839
Equity, including 5,909 6,496 6,666
cumulated deficit (220,223)(282,727)(321,592)
Now you must admit if they keep the growing dept down (you stated this in another post, dilution and such) and their gross rev is now 150mil this paper dept is not to bad in comparison to other startup’s I’ve seen
It has my interest.
The fast stochastic oscillator compares two lines called the %K and %D lines to predict the possibility of an uptrend or a downtrend. In price charts, the %K line typically appears as a solid line, and the %D line appears as a dotted line.
Event Date: Dec 21, 2007
Opportunity Type: Short-Term Bearish
Close Price: $0.03
Price Period: Daily
Volume: 4,860,565
I don’t disagree on most of your points (truth is I don’t disagree with any) however as in your email we are starting to see a possible light at the end of the tunnel (one must remain cautions lights are mechanical and could burnout any time lol)
But strictly speculatively speaking (from report):
HTOG
Only a small fraction of the acquired acreage has been explored and developed; the Company is currently producing around 500 MCF per day in Kansas. Going forward, UPDA believes it could easily quadruple production volume in 2008 but exploring its remaining land leases in Kansas and sustain triple-digit produc¬tion growth in 2009 and 2010.
Robust revenue growth
Following a series of completed acquisitions and joint ventures, UPDA has begun generating meaningful revenues, mainly from its energy trading business. Revenues increased to $21 million in the first nine months of 2007 from $0.3 million in the same period last year. Revenue growth reflects contributions from Continen¬tal Fuels, Catlin and Heartland Oil & Gas.
The Geer Tank Trucks, Inc. purchase and Heartland’s expanded exploration and production activities should enable UPDA to increase pro-forma revenues to $140 million in 2008 and $170-200 million in 2009
UPDA’s energy trading business
The Company’s trading business generated revenues approaching $12 million in the third quarter of 2007. Going forward, the acquisition of Geer Tank Trucks is likely to add approximately $50 million to annualized revenues. This acquisition, combined with the Company’s marketing and facility expansion initiatives, will likely push 2008 pro forma revenues to a $120 million range.
Multiplying our 2008 revenue estimate by the peer group 1.0 times Price/Sales multiple we derive a $120 million value for UPDA’s energy trading business.
UPDA’s oil and gas exploration business
At year-end 2006, UPDA had proven reserves of ap¬proximately 16,000 barrels of oil (MBD) and 110 million cubic feet (MMCF) of natural gas. Through the April 2007 purchase of a majority interest in Heartland Oil and Gas Corporation, UPDA gains drilling access to more than one million acres in the gas-prolific Chero¬kee Basin and Forest City Basin in Kansas. The majority of this acreage has yet to be explored and developed.
The reserve potential for both the Cherokee Basin and the Forest City Basin is enormous. The Petroleum Tech¬nology Transfer Council (1999) estimates nearly 10 tril¬lion cubic feet of natural gas in eastern Kansas alone, while the Forest City Basin is believed to contain ap¬proximately one trillion cubic feet of natural gas.
Going forward, additional drilling and connecting vent¬ing wells to gas pipelines could easily push produc¬tion capacity to 2,000 MCF per day in 2008 and 4,000 MCF per day in 2009. Considering also the significant production increases targeted for the Palo Pinto wells in Texas, these estimates could prove conservative. At production levels of 4,000 MCF/day, oil and gas explo¬ration revenues could approach $10.1 million by 2009.
Multiplying our 2009 revenue estimate by the peer group 4.1 times Price/Sales multiple and discounting the result by a 12% weighted average cost of capital, we derive a $37 million value for UPDA’s oil and gas exploration and production business.
UPDA valuation
UPDA’s value is the $157 million sum of the fair values of its oil and gas trading and exploration businesses. Also taking into account the Company’s 87% ownership interest in its largest subsidiaries, we derive a $0.16 price target for UPDA shares.
Accordingly, we are initiating coverage of Universal Property Development and Acquisition Corporation with a Speculative Buy rating and a $0.16 price target. However, we strongly advise investors to consider the risk fac¬tors mentioned below since the Company faces many challenges in attaining its production targets.
Bad part:
Need for additional financing
Since UPDA begun its oil and natural gas operations, it has reported operating and net losses. Although the Company anticipates rising revenues in 2008, the Company currently must rely on external financing to fund its ongoing operations. Additional equity sales dilute the ownership interest of existing shareholders and more loans could constrain the Company’s operations by increasing debt service requirements.
I’m not over joyed either following this stock for a few years and selling it by shit luck at .14. What does keep me watching is I believe they have some interesting assets and potential growth areas. Can they bring these companies to profit??? That’s the million dollar question
As you know they have
(321,592) paper dept
I must admit it’s getting close and interesting!
For the record I’m not positive or neg. I’m on the fence (I’ve owned this stock before, may again), but as some here I know the past very well.
B
can you post or email the review?
Enlighten me Eircus
Why do you constantly focus only on the possible negative (the bloody waver in this case) every independent review company has one). I have looked at the report and the company in question was very careful to remain cautious in this report. Also informative to the point of saying only place 5% of you portfolio at risk with this stock, they extended the report to even include management as a risk (always are).
Its one thing to be negative another to be open minded unless you have other driving motives. I’m only watching at this point. But I see a mirocap struggling (like many others to make cash). I do see some potential coming.
Buy the way we (review company) were paid for this review.
It's just PR at this point (sec will tell all)
Would you and Jim be one in the same?
For the Three Months ending
September 30, 2007
11,656,792
9 months 17mil
This would mean that they're grossing 44mil/year based on 11 mil/Q aprox(this is not including the fact they will double sales before the year end). Last year 0
All that being said 2008 could see at least 80mil sales aprox
interesting thought.
For the Three Months ending
September 30, 2007
11,656,792
9 months 17mil
This would mean that they're grossing 44mil/year based on 11 mil/Q aprox(this is not including the fact they will double sales before the year end). Last year 0
All that being said 2008 could see at least 80mil sales aprox
interesting thought.
This is a good thing no? These guys are not good!
Common stock issued to settle debt (Mathews Investment-See Note 4)
10,606
-
-
-
34,804,207
I'm still on the fence. I was hoping for a cleaner report I must say. but clearing dept is always good. We all knew this was coming as Mathews Investment was the financial backing for the acquisition last Q
Weighted-average number of shares of common stock outstanding
247,894,847
They sold more shares out to market buy the last part could be good:
September 30, 2007. As of September 30, 2007, all outstanding notes owed to Mathews Investment, LLC were settled
Sec report:
On February 25, 2007, the Board of Directors approved the conversion of an aggregate of three hundred thousand dollars ($300,000) of an outstanding note of the Company payable to Mathews Investment, LLC (the "Note"), as discussed in Note 4, into shares of the Company's common stock. The conversion price of the shares of common stock to be issued was valued at $0.001 per share by the Company's Board of Directors. On March, 2007 Company's Board of Directors cancelled the conversion of the Note with the consent of the Note holder and terminated plans to issue 25,000,000 shares of common stock. The Company is in the process of issuing an aggregate of 32,042,928 of its $.001 Par Value Common Stock to Mathews Investment, LLC from the conversion of notes payable with a face value of $300,000. The conversion of the aforementioned notes payable into Common Stock has resulted in "Debt Conversion Costs" of $91,056,436 being charged to Operations during the nine months ended September 30, 2007. As of September 30, 2007, all outstanding notes owed to Mathews Investment, LLC were settled.
Will this be the end of the dilution?
B
Whatever, I dont have time to waste time on this thread
B
put Hartland oil and gas in the upper window
cut and paste the name
Guys this is the well report for UPDA's other sub Htog
http://abyss.kgs.ku.edu/pls/abyss/qualified.ogw5.SelectWells
I see real wells and Im guessing this Q4 report for CFUL will be good as well
your right that's a big move for CFUL
B
Hey I just post the facts you bash
facts: real wells = real growth = real money
http://abyss.kgs.ku.edu/pls/abyss/qualified.ogw5.SelectWells
You post something substantial and I’ll listen
Jim are you paid to monitor and bash this stock?
You seem to monitor this area and add any possible negative information you can find
Obviously I expect you to deny this but it looks to me like you are.
Just be cautious they’ve made mistakes in the past and are treading on thin ice.
This could be the turning point but as in all venture investments could be the end.
I’m personally still on the fence as to the longevity of this company. I really like the 118mil injection of capital for UPDA next year but, UPDA needs to get these companies profitable. This company is the long, long, long shot in my portfolio. I do like the direction and assets they are acquiring. Being from the east I also like the fact that they intend on opening an office in the east soon. This connection could change the landscape dramatically.
Only time will tell.
There does seem to be buying going on (they did tell me personally Q3 would be their best ever). Is news leaking? Don’t know.
This month has been a change for UPDA, the news has stopped, no progress reports nothing (this is a big change for them). If it is good news my guess is they’re concentrating on reports for the three companies and the Sec Q reports. I can’t see them focusing highly on bad news as in last Q. If you look at last Q they reported a ton of good news before the bad. Here we have the reverse.
I’ll leave it to you.
Good luck
B
Your right. Hence the Oct Sec filing
message:
msg# 2150
The good part, UPDA will recive the cash (118mil). Waiting for this Q report is killing me.
This is the best UPDA News ever!!!!
Yea they killed the coal plant!!!!
Coal power opponents get new weapon from Kansas
http://uk.reuters.com/article/environmen...
Gas Companeys are already on the bandwagon
http://www2.ljworld.com/news/2007/oct/23...
Chesapeake also paid for a statewide poll in which it said most Kansans preferred energy produced by a combination of wind and natural gas as opposed to coal.
THey have the gas to produce power:
http://www.kgs.ku.edu/PTTC/News/2001/q01...
Get the f'n Htog wells hooked up!
Possible picture (have a reed)
It would seem Kansas just revected a coal energy plant (no proof at this time). However that brought me to this.
We all know:
PDA/HTOG
Heartland Oil and Gas (HTOG) owns leases on approximately 1 million acres in Kansas, including the Cherokee Basin and the Forest City Basin and as of October 1, 2007 will be assigned all of the Texas leases owned by our Catlin Oil and Gas subsidiary, including its original leases in Jack County and the newly acquired leases in Palo Pinto County. The management of Heartland has developed a plan to expand production from each of these locations.
Current production from the 24 wells in the Cherokee Basin Coalbed Methane Field in Eastern Kansas is 600 mcfg/day although only 8 wells are connected to the sales line resulting in the delivery of 250 mcfg/day to market. HTOG intends to drill approximately 300 new wells in the next three years. To date, 17 new wells have been drilled (which brings the total to 41) and 5 will be completed next week. HTOG needs to extend its pipeline 18 miles to connect all the oncoming wells.
In Texas, the Catlin Field in Jack County is producing approximately 325 mcfg/day and the Palo Pinto Field was averaging 900 mcfg/day prior to its acquisition. These numbers do not include any down time.
The Catlin plan calls for re-completions of certain wells based on an engineering study and new logs conducted by Schlumberger on the Ruth lease. The new logs will give us additional insight on potential production zones and will assist in deciding in which zones wells will be recompleted.
In Palo Pinto County, Heartland is formulating a plan to complete a salt water disposal well in order to recomplete 6 additional wells in the Barnett Shale.
Once these plans are carried out, the expected value Heartland’s reserves from these properties (present value discounted at 10%) will exceed $100 million.
When UPDA acquired Heartland, its income was approximately $45,000 per month and its expenses were about $100,000 per month. Our objective was to turn HTOG into a profit center, so we reduced the payroll and closed the Denver office which resulted in annual savings of about $500,000. The assignment of the Catlin leases, including Palo Pinto, will add approximately $200,000 of monthly revenue to HTOG, less debt service. Aztec, our subsidiary, financed most of the cost to drill and complete the 17 wells.
Achieving positive cash flow, accompanied by proven reserves, is the least expensive way to finance the planned expansion of Heartland. UPDA is the largest shareholder of HTOG and our objective is to make HTOG bankable because bank financing is the least dilutive.
Coalbed Methane (CBM/CH4)
Low-carbon heat and electrcity and carbon credits.
Coalbed methane (CBM/CH4) is greenhouse gas that is 21 times more potent than carbon dioxide (CO2) and is found in and adjacent to coal seems, often in significant quantities.
This poisonous and highly explosive gas, left unchecked, can both cause major coal ming accidents and contribute to global warming.
However, many techniques exist to extract the coalbed methane which increases mine safety and enables it to be used as a fuel. Mostly this involves drilling into the coalbed and allowing the methane to be released to the surface where it is collected and compressed for later use.
Coalbed methane is becoming a valuable commodity because it can be converted into low-carbon heat and electricity as well as generate carbon credits.
Proven CHP (combined heat and power) and fuel cell technologies have been developed and implemented world-wide that convert coalbed methane into electricity and heat. Electricity and heat can then be distributed to customers via a local microgrid or connected directly to national grids.
This technology and process is relevant to both operating and unused coal mines in the EU, Russia, China, America and Australasia.
Organisations that effectively manage coalbed methane receive tangible cost benefits as well as publicly demonstrate their corporate social responsibility values.
• Increase mine safety
• Low-carbon electricity
• Low-carbon heat
• Emissions credits
PZERO works with organisations to identify and develop coalbed methane sites. PZERO can purchase, install and operate the low-carbon power plant and negotiate long term low-carbon heat and electricity distribution and emission credit contracts.
http://www.pzero.co.uk/evaluation.htm
Is this on its way to State of Kansas
THey are well aware of what they have:
Kansas Geological Survey,
1930 Constant Ave., Lawrence, KS 66047-3726
phone 785-864-3965, fax 785-864-5317,
Core Library 785-864-4909
Or go to the web site:
http://www.kgs.ku.edu/PRS/petroIndex.html
Cherokee Basin:
However, the Petroleum Technology Transfer Council (1999) indicates that there are nearly 10 Tcf of gas in eastern Kansas alone (PTTC, 1999). The Forest City Basin was relatively unexplored in 1993, with about 10 coalbed wells concentrated in Kansas’ Atchison, Jefferson, Miami, Leavenworth, and Franklin Counties (Quarterly Review, 1993). The Forest City Basin contains an estimated 1 Tcf of gas (Nelson, 1999). For the entire region, coalbed methane production was 6.5 Bcf in 2000 (GTI, 2002)
Full document:
http://www.epa.gov/safewater/uic/cbmstudy/pdfs/completestudy/ch5_6-6-04.pdf
Forest City Basin:
The Riverton and Weir-Pittsburg seams are about 3 to 5 feet thick and range from 800 to 1,200 feet deep, while the Mulky Coal, which ranges up to 2 feet thick, occurs at depths of 600 to 1,000 feet (Quarterly Review, 1993). Individual coal seams in the Cherokee Group of the Forest City Basin range from a few inches to about 4 feet thick, with seams up to 6 feet thick (Brady, 2002; Smith, 2002).
UPDA owns 1 million acres in Kansas, including the Cherokee Basin and the Forest City Basin and as of October 1, 2007. what’s not to like.
But as I’ve said before they must execute and connect these wells to collectors fast to produce sellable gas.
As for the rejection of the Coal energy plant, that’s great news!!!!! UPDA is into gas and needs the gas energy plant. It seems Kansas is spending millions on Geological Surveys and volume assessments to provide a feasibility study for gas energy??????? Clean burning low carbon gas!!!!
Bring it on
B
The 4,756,000 shares of Series B Preferred stock held by UPDA, is currently convertible into an aggregate of 118,900,000 shares of the Registrant's common stock. Each share of Series B Preferred also has a liquidation preference over the Registrant's common stock in the amount of one
(1) dollar per share. The shares of the Registrant's common stock issuable to UPDA upon conversion of the Series B Preferred would be restricted stock upon issuance and would be subject to Rule 144 under the Act, and, therefore, generally could not be resold for a period of twelve months from the date of issuance of the Series B Preferred.
This now gives UPDA 118million cheque in 12 months. Hence the stock moving up today. 118mil would be around .13/share
Hog has 9,770,211 as of Jul 25, 2007
This would give them around 130mil SO (nothing crazy) they need to start pumping some of that gas out of the ground.
This will produce 118mil cash for future.......
ER is right read over the board we have posted a ton of info. most of us are in watch mode now.
This sec is new
Nov 6
The quarterly report due Nov6 should be good. We hope to see an end to the stock dilution. I talked with the company in Q2 and they warned me Q2 would be bad and it was however they did state Q3 would be their best Q ever. It would seem the company has stopped any PR until the report (no PR as of late). I hope this to be the calm before the storm of better news. It’s been a big slide for this stock. There’s allot of negative posters and ill feeling regarding this stock.
I’ve tried to post most of the facts I can find (feelings are irrelevant in the stack market). I must say they have an interesting business plan with some interesting assets to be developed. Can they execute? This remains to be seen. As for the past they have now restructured the company twice at the cost to the shareholders (no return on investment when restructuring).
Some other points
Shorts (disappearing into the woodwork)
Short Interest UPDA
Date
Short Interest % Change Avg. Daily Share Volume Days to Cover Split New Issue
Oct 9, 2007 4,178 222.87 2,028,333 1.00 No No
Sep 27, 2007 1,294 -87.04 1,175,203 1.00 No No
Aug 27, 2007 9,984 -65.29 3,769,323 1.00 No No
Jul 25, 2007 28,765 -41.33 6,025,064 1.00 No No
Jun 27, 2007 49,028 -67.72 2,672,948 1.00 No No
May 24, 2007 151,881 194,619.23 1,814,740 1.00 No No
Apr 24, 2007 78 -99.07 5,902,323 1.00 No No
Mar 26, 2007 8,402 -23.75 4,818,955 1.00 No No
Feb 27, 2007 11,019 -94.62 6,706,745 1.00 No No
Jan 24, 2007 204,990 2,133.74 10,959,016 1.00 No No
Htog
Short Interest
Date
Short Interest % Change Avg. Daily Share Volume Days to Cover Split New Issue
Oct 9, 2007 500 -89.37 105,991 1.00 No No
Sep 27, 2007 4,704 -78.19 72,365 1.00 No No
Aug 27, 2007 21,564 3,394.98 33,580 1.00 No No
Cful
Date Short Interest % Change Avg. Daily Share Volume Days to Cover Split New Issue
Oct 9, 2007 93,927 -74.48 204,547 1.00 No No
Sep 27, 2007 368,084 -11.93 47,449 7.76 No No
Aug 27, 2007 417,967 10.06 63,647 6.57 No No
Jul 25, 2007 379,759 17.86 65,413 5.81 No No
Jun 27, 2007 322,214 0.03 107,229 3.00 No No
May 24, 2007 322,118 153.41 297,189 1.08 No No
Apr 24, 2007 127,115 44.48 50,973 2.49 No No
Feb 27, 2007 2,060 -98.15 24,206 1.00 No No
CFUL: should report 1.4mil profit
Htog has 1mil acres of land in an area containing 1tillion estimated cubic feet of gas (can provide assessment documents)
UPD will restructure its share holdings in Htog and produce 118mil cash next year. There has been no dilution this Q (Just the Htog sec, not really a dilution, well I guess you can call it one. I personally think it accusation cash for the next move)
For what it’s worth.
B
don’t get me wrong
I was not telling you to leave. :) Hell I enjoy the alternate view (that’s what the Hub is for.
hehehe buy some mccy.pk to make your day I'm up 23% in one day.
lol
have a good weekend.
Buell
Do you still hold UPDA?
Your right this 1.5 year old company has never made profit this is true. Most companies never make profit until year 3-4. We all should know that as we are purchasing venture companies hoping to hit the one that takes off. Your also right UPDA has diluted their shares to the point of 800mil (appox) none of us can dispute that.
What we paid for with the 800mil shares:
Hartland
Expansion:
Heartland Oil and Gas (HTOG) owns leases on approximately 1 million acres in Kansas
Execution:
HTOG intends to drill approximately 300 new wells in the next three years (dilled 41 already)
Business effectiveness:
Cherokee Basin and the Forest City Basin and as of October 1, 2007 will be assigned all of the Texas leases owned by our Catlin Oil and Gas subsidiary, including its original leases in Jack County and the newly acquired leases in Palo Pinto County. The management of Heartland has developed a plan to expand production from each of these locations.
Continental Fuels
Nothing more needs to said here
Continental Fuels, Inc. (CFUL) is our trading and marketing subsidiary. It owns a 48,000 barrel terminal at the International Port of Brownsville. With the ongoing capital improvements underway at this facility, its capacity will be doubled by adding new tanks and investing in a railroad spur.
We envision CFUL to be the marketer of all that is produced by our subsidiaries, whether it is crude oil, natural gas, biofuel or some other alternative energy. At the present time, Continental is trading in condensate (light crude), receiving product on trucks and shipping it out in barges and on rail.
UPDA originally provided Continental the Brownsville Terminal and over $2 million in lines of credit. CFUL ran its first and second test shipments in March and May of 2007. Once the model was proven, CFUL began executing on its business plan in June 2007. During the second quarter, Continental generated approximately $5.7 million in revenues and $400,000 in gross profits. It should be noted that approximately 80% of the revenues were generated in June, while the expenses were incurred over the course of the entire quarter.
CFUL has quickly become an operational profit center. In fact, sales for the months of July and August exceeded $8 million and gross profit exceeded $700,000 for the first two months in the third quarter.
Drilling:
Aztec Well Services is our drilling and field services unit
Aztec is a great thing to have these days. with all the oil and gas expansion drilling companies are hard to find let alone contract.
Few other tidbits
MAJOR DIRECT HOLDERS (FORMS 3 & 4)
Holder Shares Reported
ABDALLAH KAMAL
172,615,555 15-Jun-07
MCCAULEY CHRISTOPHER JAMES
48,113,444 14-Jun-07
BARRERA STEVEN ANTHONY
9,313,096 14-Jun-07
I would think that if I was Kamal I would one day want to have the shares of UPDA above a $1 to cash in some of my 175mil shares. Wouldn’t you?
Anyways back to my point, the 800mil shares have bought the above. Now the question remains was it a good buy and will it bring this company to profit? You decide.
If you think not get out leave this forum and buy some GLW or FWLT
I must admit I’m also a little nervous as a share holder. They messed up the first attempt to streamline the business and it cost us all. The only thing holding any of us here is the fact that they still have a possibility to pull this off.
As for your last paragraph, I didn’t understand could you re phrase?
Instead.... look at http://www.hubbertpeak.com/ and know AFTER THIS about ONE company capable to get an answer (for a coupel of decades ...) to this... Mail me for an answer:
ericvandamme3@hotmail.com
Just my two cents
I don’t see the misconception. They have publicly told anyone and everyone that cares to read they have:
Current production from the 24 wells in the Cherokee Basin Coalbed Methane Field in Eastern Kansas is 600 mcfg/day although only 8 wells are connected to the sales line resulting in the delivery of 250 mcfg/day to market.
At this time only eight are connect, knowing that I would not expect to see revenues from the 600mcfg (this is only an estimate as well) but 250mcfg. I do agree its a little fluff, tell me the dates you will have all 24 on line. Now that would be of greater importance to a shareholder (return to investment)
The good is I see growth:
8 connected 14 more to connect and 5 more completed next week (get the !@#$ to work and connect these wells). Once connected they will have 41 wells to market
Now guys lets all be real, how long does it take to drill, stimulate and run 18miles of pipe? Rome was not built in a day and no one gets rich quick unless you’re a hot blonde willing to marry a wrinkled old guy.
There is no mystery here if your expecting these wells to come online one week after being drilled you need to better understand the process and magnitude of capitol required to complete this task.
current shorts approx 10000 (small)
Fluff
lets watch the next filing for:
CFUL has quickly become an operational profit center. In fact, sales for the months of July and August exceeded $8 million and gross profit exceeded $700,000 for the first two months in the third quarter.
it better be there.
Technical Analysis (past few days)
Event Details for: Price Crosses Moving Average
A moving average is an indicator that shows the average value of a security's price over a period of time. This type of event occurs when the price crosses a moving average. Three moving averages are supported: 21, 50 and 200 price bars. A price cross of a longer moving average indicates a longer term signal. A bullish signal is generated when the price rises above its moving average and a bearish signal is generated when the price falls below its moving average.
Event Date: Aug 31, 2007
Opportunity Type: Short-Term Bullish
Close Price: $0.04
Price Period: Daily
Volume: 608,050
Event has not been confirmed yet.
Price crossed above the 21-day moving average.
Event Details for: MACD
The MACD, "Moving Average Convergence/Divergence", shows the relationship between two moving averages of prices. The MACD is the difference between a 26-day and 12-day exponential moving average. A 9-day exponential moving average called the signal line is plotted on top of the MACD to show bullish and bearish signal points. A bullish signal is generated when the MACD rises above the signal line, or above zero. A bearish signal occurs when the MACD falls below the signal line or below zero.
Event Date: Aug 24, 2007
Opportunity Type: Intermediate-Term Bullish
Close Price: $0.04
Price Period: Weekly
Volume: 8,935,781
Event Details for: Intermediate-term KST
The KST, "Know Sure Thing", is an oscillator that combines multiple time frames into a single measure of momentum for a financial instrument. It can be interpreted in the same way as other smoothed oscillators but most commonly indicates bullish and bearish momentum signals as it crosses above and below its moving average respectively.
Event Date: Aug 24, 2007
Opportunity Type: Intermediate-Term Bullish
Close Price: $0.04
Price Period: Daily
Volume: 8,935,781
Sharesleuth.com (info)
My Wiki is your wiki (Not rated) 31-Aug-07 12:06 am Aug 22nd 2006 9:22AM
http://www.blogmaverick.com/2006/08/22/m...
I got this email this afternoon from someone who apparently reads my blog.
"FYI: Gary Weiss, who has been pretty hard on you and Sharesleuth on his blog, is fixing to do some heavy editing on your article on Wikipedia ( http://en.wikipedia.org/wiki/Mark_Cuban ). His username (he doesn't use his real name) is Mantanmoreland. Unless you or somebody gets on it, you'll look pretty bad by the time he's done."
I hadn't check out my wiki page in a long time, so i go on there and read some history about myself that never happened, other stuff that was just wrong and found out that I admired some guy named Brian and that I was related to some guy named Adam. Two people I had never heard of in my life.
But I digress.
As I go through making some updates, I get to the part about Sharesleuth.com that was entered by someone with a login of "Mantanmoreland". Which of course matched what the emailer had suggested to me. As it turns out , this same login name is an author on the Gary Weiss Wikipedia page.
This is what Mantanmoreland wrote:
"In July 2006, Cuban financed creation of [[Sharesleuth.com]], which will publish negative information about publicly traded companies. Cuban will short-sell shares of companies mentioned in Sharesleuth in advance of publication. That has been widely criticized."
So I edited it to the following:
"In July 2006, Cuban financed creation of Sharesleuth.com, which will set out to uncover fraud and misinformation in publicy traded companies. Cuban's disclosure that he will take positions in the shares of companies mentioned in Sharesleuth in advance of publication has raised controversy"
Now I thought that would be the end of it. Not a chance.
As you can see from the history, 39 minutes later, here comes our friend MantanMoreland to change it all back. (You can see the change history here).
So Mantanmoreland must have had this on his watchlist, keeping an eye out for me. (Does this person have anything better to do with their time?) and he or she edited my changes quickly:
"Cuban's has said that he will take positions in the shares of companies mentioned in Sharesleuth in advance of publication. That has been widely criticized "
Criticized vs Controversial. Is it a big difference ? Doesnt matter.
Now little "Wikiwars " are inconsequential in the big scheme of things. The Wikipedia has a conflict resolution process in place to deal with such matters. But what has happened here leads me to ask a question.
If Mantanmoreland truly is Gary Weiss, is it ethical for a journalist to try to push his point of view on a public document under a pseudonym ?
Wouldn't an ethical journalist publish his or her name ?
Didnt a journalist get fired or reprimanded for taking sides under a pseudonym on Yahoo Message Boards ?
Is Mantanmoreland the pseudonym of Gary Weiss of http://garyweiss.blogspot.com/
And if it is, how much time do you plan on spending trying to update my wiki page gary
post from other board (boys are at it again)
No!, Mud@#&*, whatever ya name is. You pretend to understand financials. This exposes you for the penny pinching short that you are. UPDA on it's own merits has a lot of shares out....YES ..787.36 Million of them. why, Mr. Kamal Abdallah is using the power of LEVERAGE to position UPDA for serious growth down the line, which will translate to serious money for its serious investors.
Here is a head scratcher for you mudfool. How did a $0.04/share company with a market cap of $33M, wind up owning controlling interests in a $211.23M, $3.10/share companies like continental fuels ( CFUL.OB ), and Heartland Oil and Gas Corp. , with a market cap of $10.93M trading about $1.05 - $1.15/share, among others. Mudface, it is called SMART.. something you are "Short" on( you should be shinning Kamal's shoes and whistling dixie ). If you have a strategy and any SMARTS in this game, you will be very WEALTHY not RICH. So stop popping off to fuel and feed your SHORT DEMON, focus, do ya DD and scoop the $$$$ instead of PENNIES. YA GOT TO BE SMART THOUGH!!!.
Take a look at Today's released Financials.....Edgar Online
I totally agree with you. I can see they are out of cash but still have a business development plan to execute (I believe this to be the reason of the share dilution). However they do now have two units producing cash (finally). I also believe they missed the boat on their first attempt at business organization (streamlining the business). This cost all the share holders of UPDA.
All that being said I’m looking to this Q to see the end of the bleeding and devaluation of UPDA stock. If I see further dilution you can all say “I told you so”
We also need to understand and acknowledge the company is only going on 2 years old. But that still doesn’t justify the 750mil outstanding.
They at this point (carefully controlled & executed) could pull their execution plan off. I just need to see some “control & execution” with the best interest of the share holders in mind this Q.
RC even though you’re giving me a little poke there your mccy.pk has been looking interesting (I think that was your pick). It’s too high right now but a nice pull back would make a good investment point
Good chat Ericus
BTW i have another chat with UPDA PR when I get some time I'll type it out
Have a good weekend
B