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.
If it were me, I'd already be gone. And yes, it's quite an irritant to see that 13.9%. We're generally up to around four months now working for the gov.
Hackers apparently hit Swedish government site
Swedish group linked to Anonymous claims cyber attack against government website
By Louise Nordstrom, Associated Press
STOCKHOLM (AP) -- A group linked to the hacker network Anonymous on Saturday said it had attacked the Swedish government's website, bringing it down for periods of time by overloading it with traffic.
CyberForce used Twitter to claim responsibility, saying "We have succeeded in the attack against the government."
It also indicated it may launch more attacks at around midnight (2300 GMT) Saturday, saying "this op starts at 24.00," but it was not immediately clear who the targets for those attacks may be.
The group said it had used a denial of service attack against the government, which essentially swamps a website with false users.
Government spokesman Jacob Lagercranser confirmed the website — used by all departments of Sweden's government — had experienced some problems, but he declined to give further details, saying the government never comments on security issues.
"Periodically we've experienced some problems in getting in on it. We're working on the problems," he said. The site was up and running again later Saturday.
CyberForce describes itself as part of the hacking collective Anonymous, which drew international attention by hacking onto a private conference call by the FBI and Britain's Scotland Yard, then publishing the roughly 15-minute-long recording of the call on the Internet on Friday.
In the past week, Saboteurs have stolen passwords and sensitive information on tipsters while hacking into the websites of several law enforcement agencies worldwide.
The alleged Swedish attack, launched at around midday local time, coincided with protests in Stockholm and Sweden's second largest city Goteborg, demonstrating against the Anti-Counterfeiting Trade Agreement, or ACTA.
In a tweet, CyberForce suggested the attack could be linked to those protests, saying "we're not protesting on the (street), we're protesting on the Internet."
ACTA is a far-reaching agreement that aims to harmonize international standards on protecting the rights of those who produce music, movies, pharmaceuticals, fashion, and a range of other products that often fall victim to intellectual property theft.
At 102%, His Tax Rate Takes the Cake
By JAMES B. STEWART
Published: February 3, 2012
Meet Mr. 102%
James Ross, 58, is a founder and managing member of Rossrock, a Manhattan-based private investment firm that focuses on commercial real estate and distressed commercial mortgages. “I realize I am very fortunate, and in fact I am a member of the 1 percent,” Mr. Ross wrote in an e-mail. His résumé is studded with elite institutions: Yale, Columbia Law School and stints at the law firms Cravath, Swaine & Moore in New York and Holland & Hart in Denver. Since his company fits the category of private equity, he even has carried interest, the kind of incentive compensation that enabled Mitt Romney to pay such a low tax rate.
Yet Mr. Ross told me that he paid 102 percent of his taxable income in federal, state and local taxes for 2010. “My entire taxable income, plus some, went to the payment of taxes,” Mr. Ross said. “This does not include real estate taxes, sales taxes and other taxes I paid for 2010.” When he told friends and family, they were “astounded,” he said.
In the midst of a national debate over tax rates and policy, I lifted the veil last week on my income tax rates for 2010, a year in which I paid 37 percent of my adjusted gross income (total income minus things like retirement contributions) in federal, state and city income taxes and 74 percent of my taxable income (after deductions like state and local taxes).
I was dismayed by the comparison to Mr. Romney — who paid 13.9 percent of his adjusted gross income of $21.7 million and 17.5 percent of his taxable income of $17.1 million — as well as by the possibility that I paid a higher tax rate than just about anyone. So I invited readers to send me e-mails disclosing their tax rates and circumstances.
I was deluged with submissions, including many people who pay a higher rate than I do. But at 102 percent, Mr. Ross was in a category of his own.
That doesn’t mean Mr. Ross pays more in taxes than he earns. His total tax as a percentage of his adjusted gross income was 20 percent, which is much lower than mine.
That’s because Mr. Ross has so many itemized deductions. Since taxable income is what’s left after itemized deductions like mortgage interest, charitable contributions, and state and local taxes are subtracted, it will nearly always be smaller than adjusted gross income and demonstrates how someone can pay more than 100 percent of taxable income in tax. Mr. Ross must hope that his interest expense will pay off down the road and generate some capital gains.
Still, all of Mr. Ross’s itemized deductions are money out of his pocket, which is why he’s had to draw on his savings to pay his taxes. Robert Willens, a tax expert and New York attorney, made the argument that taxable income, therefore, may be a better basis for measuring the tax burden.
In any event, by either measure Mr. Ross pays a higher rate than Mr. Romney.
“I had no idea I was paying such a high rate,” he told me when we spoke this week. “I had trouble believing this was possible. I called my accountant, and I said, ‘Do you realize I’m paying every penny I have in taxable income? I’m dipping into savings to pay my income tax.’ He said, ‘It’s unfortunate, but at your income level’ ” — with high earned income and large itemized deductions that Mr. Ross can’t take advantage of — “ ‘that’s just the way it is.’ ”
Mr. Ross’s plight illustrates something that came through in nearly every response and cuts across nearly all income levels: the disparities of the tax code don’t just pit rich against poor or middle class. It taxes people within the same income brackets at grossly unequal rates. “I cannot help but reflect on the unfairness of the current tax regime,” Mr. Ross wrote. “Why should I pay 102 percent of my taxable income in taxes when others, with far greater wealth than mine, pay a fraction of that?”
I asked Mr. Willens if such a thing were possible, and he said it was. “It’s entirely within the realm of possibility,” he said. “I can’t recall any clients quite that high, but I’ve had people come close.”
How could Mr. Ross pay so much? I thought I was the victim of a perfect storm of punitive tax policies, but Mr. Ross’s situation is worse.
Like me, he lives and works in New York City, which all but guarantees a high tax rate. Nearly all of his income is earned income and thus fully taxable at top rates. (He said that’s not always the case, but given the recent dire condition of real estate, in 2010 he had few capital gains and his carried interest didn’t yield any income.) Unlike me, he can’t make any itemized deductions, which means his adjusted gross income exceeds $1 million, the level at which New York State eliminates all itemized deductions, except for 50 percent of the value of charitable contributions. Mr. Ross said he gave 11 percent of his adjusted gross income to charity.
That means Mr. Ross can’t deduct any interest expense on the money he borrows to finance his real estate investments, which is substantial, nor can he deduct any other expenses or other itemized deductions except for part of his charitable contributions. This means he pays an enormous amount in state and local taxes. Since those are among the deductions that are disallowed when computing the federal alternative minimum tax, Mr. Ross is in turn especially hard hit by the A.M.T.
http://www.nytimes.com/2012/02/04/business/at-102-his-tax-rate-takes-the-cake-common-sense.html
A version of this article appeared in print on February 4, 2012, on page B1 of the New York edition with the headline: Think Your Tax Rate Is High?.
"I understand but I left a commit to your post as a fellow investor but you guy's delighted me."
So much delight on being committed.
Just a quick edit. I'm showing 21 instead of 20 of the DTCC list that traded over 10 million shares. Given there may be some ticker missed, but it's really close and the message is the same.
Well all this dumping got CRWV number 17 on the top 20 of the list. What an honor. LOL Of course it's still new to the DTCC list and hasn't had time to settle into it's new home.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71710070
edit: whoops, there were actually 21 instead of twenty and CRWV was number 18.
A lot of it is just plain common sense. Here is some layman language. I've got all of the list on a watch list and have been slowly going through and noting them with dates of public DTCC notice, close and open that day, etc, etc.
One major easily seen fact with them all. Half or more are literally ZERO volume. Many of those are NO BID or .0001, but not all and can even be in the real pennies.
You have only 20 of the entire list today trading over 10 million shares and when a stock is in the trips or even double, 10 of millions is squat in dollar volume. A big portion were only a few million or less traded and even only in the hundreds volume. Only three of those 20 actually traded with 100-200 million, all three trip 1, 2, and 4.
So no matter what one might want to understand with the technicalities, the layman term is garbage and not a stock to turn to for trading or investing. There is just too much out there that doesn't have these statistics attached to them. Just horrible odds to mess with on top of the lousy odds that the pinks carry anyway.
Even though the companies are trying to take advantage of the naive and ones who don't want to use common sense, it's not changing these numbers. At least it didn't this week.
All you will get is the attempt and energy to hide any fact of Pawson due to that most know he is such a detriment to any stock and no one cares to have him involved. Any real documentation or records will be hard to come by. One sure can't rely on any of Gougers financials or filings with the state to be totally accurate. But you can get posts about it trying to cover Pawson trails.
If he doesn't have shares, it would be that he already dumped them or there is just some other insiders ready to dump and profit on shares.
There is no real business here, just R/S with destruction of value to regular shareholders. No real oil wells and just a bunch of non profit producing old stripper and inactive wells in which Gouger is still in violation of the Texas laws regarding them.
But that's the shell share selling business which is the only thing we have here for BNPD (BNPDD turdi, tomi, or whatever letters want to be attached to the shell)
LOL Aren't they all? MDGC has "rolled over" all the way down the mountain to Trips Valley. Just might be a cliff ahead to put it out of its misery though.
"can someone who knows explain to me why there is no rollout?"
What, didn't everyone see the stop sign rollover. That was exciting wasn't it? No worries, if one missed it, it will be a "rollover" in the future, catch it then. LOL
Any real valuation would have to be after any well production if or when it happens. Then the proration amounts and average daily BBL would have to be recorded, and expenses and lease payments would have to be factored in. MXXH shareholders are only in for 25% "working interest". As of now, there is no "working" (not drilled), so valuating would be fruitless and shows on the pps.
"Working Interest" means an interest in an oil and gas lease that gives the owner of the interest the right to drill for and produce oil and gas on the leased acreage and requires the owner to pay a share of the costs of drilling and production operations. The share of production to which a working interest owner is entitled will always be smaller than the share of costs that the working interest owner is required to bear, with the balance of the production accruing to the owners of royalties. For example, the owner of a 100% working interest in a lease burdened by a landowner's royalty of 12.5% would be required to pay 100% of the costs of a well but would be entitled to retain 87.5% of the production.
Complete Terms, amount of Royalties accrued or paid, and other fees or factors, including but not limited to "production operation" costs paid to Tejones Operating Corporation that are deducted from the "25% Working Interest" of SANGER HEIRS Lease not disclosed by MXXH.
I remember someone driving around in the brush and under-developed roads in the area, was there any research done on who exactly owned the parcel # 42-297-34985 where the permit is and likely the one who would have the royalties?
Basically a global lock is just a full chill and of course is worse than just a partial chill.
Global lock is where the DTCC denies ALL services and the "chill" label is designating that only some of their services are denied such as allowing only "trade for trade" and not allow the company like THRA in the Net Settlement System which can make some brokers not want to trade it or charge more for it.
"I stickied this one to show that the CEO calls it a LOCK and not a CHILL as some have tried to call it."
What's the rumor, Pawson going to get Mr. Green to send out more emails and push out another joke PR? I believe he just did that AGAIN and was pretty lack luster to say the least.
Pawson is the the .0001 King, doesn't seem to even care or that interested to get .0002. If it does get some trading at the 2, I would think that would be great to get out if possible. I'm sure many will be dumping away if it got there. First there has to be a bid though.
I'm afraid there is only a certain amount of limited time before this thing could be completely swept into the garbage and CUSIP junked. There is nothing going on with the shell. 15 BILLION share structure, heavy debt, NO BID, no business associated with it, non eligible with DTCC, and some brokers won't even trade it (sometimes with exuberant charges). Get a little trading every now and then with the dead ticker at .0001 and even less, but pretty sad state of affairs and pretty worthless.
This is probably the better or best list and some discussion on the subject.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71657510
A symbol may be invalid for multiple reasons. Reorganization, company went dark, or no longer valid for trading for examples.
There is no competition possible from people like me. Luckily, this will not have too much effect in most of my areas of property. But that's because I have been invested/investing in certain areas regarding other available rentals and trying to keep in where there is at least a certain demand.
But over the last couple of years, there has been some dramatic changes in rentals coming available and it has taken time for the amount of people needing a home to rent instead of owning or purchasing to catch up and the market has lately seen some turnaround.
Why the Gov is seeing the opportunity I guess and going for more of the pie. All part of the new current RE cycle. Next the Gov will be putting trailers on the empty lots and renting them out. LOL
Just wanted to note back, in this pinky business, we all get gung ho on some POS at some point. We learn and don't waste time to hold a grudge. LOL
Tags: BNPD BNPDD Texas Oil and Minerals Gouger Tejones MXXH
Yes it was already a done deal and Gouger got $200,000 worth of stock.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71564001
The responsibilities for drilling are upon Gouger who is the operating company (Tejones). He's got the permit, had the permit already when he came on board with MXXH. The drill rig, drilling, filing the proper reports, the one who got paid, etc are all with him because Gouger is the "operator" as the operating company Tejones.
It's a standard cookie cutter letter along with that the Pink Sheets are chocked full of them. Easy to get an attorney letter for just about any Pink Sheet financial. Pretty much meaningless and in no way one can (or shouldn't) rely on them for any unaudited financials.
It also states right in the letter that the financials are NOT audited. But all it is is some doc format that the secretary might fill out and sometimes just stamps the signature.
Now if a company couldn't get in-expensive attorney letter, that might mean something due to it is so easy and cheap to do and requires no accuracy and no real standards.
It's unaudited of course and these cut and paste financials are solely put on pink sheets to only receive a higher tier rating (which are basically worthless). Completely unreliable and in no way could ever be submitted to be fully reporting or to the SEC.
Pretty much the name of the game has been just put something out, doesn't matter of any accuracy or really following GAAP standards, just get the darn STOP sign removed. Pink Sheets has no process for accuracy or reliability. It's just a joke.
That must be the big roll out, just roll the stop sign around one more time.
That "email" was put up as a joke right? That's one of the funniest things I've seen. Outstanding invoice, right, following right up on that, you bet. I've got some swamp land for sale that is worth more than that "email". What, does THRA just have some chimp with a crayon writing these things for them? I feel real sorry for the animal.
That's because that is the last activity and last legal status. If it was taken care of or paid there would be a new recording and it would show up as a newer status date. Being that it is still there, and there has been no updates, is the evidence that it is still due and MXXH status "void". If there is a more current document out there I'm sure it would be made available.
Tejones has had that permit for some time before MXXH ticker was involved. I was looking for more than just statements from the company though. Besides, Gouger is Tejones, and Gouger is part of the company MXXH.
"Would you have a official link to those "geology reports", not just PR's or the like that states them? Just curious, might be out there, just don't seem to have any in my files at the moment."
Does anyone have confirmation on release date of the restricted shares that Gouger received (which was the form of the $200,000 paid for 25% "working interest") or exactly how many shares received? Par Value, restricted convertibles?. In the pinks it is very common for a time period of 6 months or a year, maybe some of both in this case.
The original date for closing on this transaction of the $200,000 worth of restricted shares was on or before February 4th, 2011 and acquisition for the "working interest" is listed as completed on Feb 15, 2011, both year anniversaries coming up shortly.
AMWI had a volatile day with their PR on it. Opened at .69 closed at .26 about .07-.08 now.
http://ih.advfn.com/p.php?pid=nmona&article=50361747&symbol=AMWI
"Alot of those shares are matched up with large short positions as you can see if you have checked our daily short numbers.....
I do not flip my investment penny stocks. I load the boat and hold them tight."
Did you know they were going to get into the rental business or rent to own market? Not sure what that will do to peon rental property owners such as myself, probably take the little bit of strength that poking it's head out and chop it right off.
U.S. Foreclosures Draw Private Equity
By John Gittelsohn - Jan 31, 2012 9:51 AM MT
About 7.5 million homes with a current market value of $1 trillion will be liquidated through foreclosures or other distressed sales by 2016, according to an Oct. 27 report by Thomas Shapiro, president of GoldenTree Insite Partners.
Private equity firms are jumping into distressed housing as the U.S. government plans to market 200,000 foreclosed homes as rentals to speed up the economic recovery.
GTIS Partners will spend $1 billion by 2016 acquiring single-family homes to manage as rentals, Thomas Shapiro, the fund’s founder said. That followed announcements this month that GI Partners, a Menlo Park private equity fund, expects to invest $1 billion, and Los Angeles-based Oaktree Capital Management LP will spend $450 million on similar housing.
“It’s a massive market,” Shapiro said in a telephone interview from New York. “We’re starting to see this as a billion dollar opportunity to buy rental housing.”
Creating more single-family rental properties is one of a series of programs introduced by President Barack Obama’s administration aimed at reviving the housing market. An S&P/Case-Shiller index (SPX) of property values in 20 cities has dropped 33 percent from its peak in July 2006 and 12 percent of homeowners with a mortgage are either delinquent or in foreclosure. Last week, the administration revised its Home Affordable Modification Program, offering government incentives for mortgage investors Fannie Mae and Freddie Mac (FMCC) when they forgive debt on homes that lost value as a way of preventing delinquent borrowers from losing their houses.
Increasing Rentals
Increasing rentals may reduce lenders’ losses on foreclosed and surrendered properties and curb declines in home prices, according to a Federal Reserve study Chairman Ben S. Bernanke sent to Congress on Jan. 4. Private equity funds began focusing on these investments in September, after the administration asked for proposals to sell the government’s inventory of foreclosed homes -- about half of all houses seized from delinquent borrowers.
The S&P/Case-Shiller index of property values in 20 cities declined 3.7 percent from November 2010 after falling 3.4 percent in the year ended in October, according to data released today. Economists projected a 3.3 percent drop, according to the median estimate in a Bloomberg News survey.
Even as prices dropped, the “seeds to a recovery are being planted,” Karl Case, co-creator of the measure, said today in an interview on Bloomberg Radio’s “Bloomberg Surveillance,” with Ken Prewitt and Tom Keene. “Efforts are underway to deal with a backlog of foreclosed properties,” he said.
The Federal Housing Finance Agency, which oversees Fannie Mae (FNMA) and Freddie Mac, plans to complete initial transactions in the first quarter of this year, offering some of the 180,000 foreclosed homes in their inventory to private operators as rental properties, Corinne Russell, a spokeswoman, said in a telephone interview.
Public-Private Partnerships
The Federal Housing Administration, which also will participate in the rental program, had 32,170 real-estate owned homes seized from borrowers, also known as REOs, as of Dec. 31, according to spokesman Lemar Wooley.
Possible aspects of the program include public-private partnerships to share the risk and profits, “seller financing” guaranteed by the government and rent-to-own opportunities for tenants, according to a November memo.
“It marks the first time that institutional investors are really getting involved, and in the process providing a higher quality product to a tightening rental market,” Oliver Chang, a Morgan Stanley analyst based in San Francisco, said in an e-mail last week
$1 Trillion Liquidations
About 7.5 million homes with a current market value of $1 trillion will be liquidated through foreclosures or other distressed sales by 2016, according to an Oct. 27 report by Chang. That will add to the estimated 20 million single-family homes already operated as rentals, which have yielded annual returns averaging 8.1 percent since 1990, Chang’s report said.
Rentals can produce cash flows, known as a capitalization rate or cap rate, that reduce losses more than reselling foreclosed homes at a time of weak demand, the Federal Reserve report said.
“Preliminary estimates suggest that about two-fifths of Fannie Mae’s REO inventory would have a cap rate above 8 percent -- sufficiently high to indicate renting the property might deliver a better loss recovery than selling the property,” the Fed paper said.
While there may be opportunities, investors should be cautious about borrowing to invest in markets such as Las Vegas (SPCSLV), where a transient population and economy dependent on a single industry like gaming, make it hard to see an exit strategy, Kenneth Hackel, managing director heading securitized products strategy for CRT Capital LLC, said in a telephone interview from Stamford, Connecticut yesterday.
Track Record
“For the kind of properties I looked at, and in most cases, capital markets aren’t excited to finance the REO-to- Rental marketplace at this stage,” said Hackel, who toured Las Vegas (SPCSLV) homes on the market this month. “Once you establish a track record and have some positive cash flow in place, then perhaps you can get some interest in having leverage. But I think as a first step, investors are best served by looking at this on an unlevered basis.”
The U.S. homeownership rate fell to 66 percent for the quarter ending Dec. 31, as low as 1998 levels and down from a peak of 69.2 percent in December 2004, according to a U.S. Census Bureau report comes out today.
“New households have a much higher propensity to be renters,” Thomas Lawler, a former economist with Fannie Mae who’s now an independent housing consultant in Leesburg, Virginia. “And a lot of folks who are losing their homes to foreclosure are now renters.”
Rental Demand
Demand for rental housing helped boost shares of the 12- member Bloomberg Apartment Real Estate Investment Trust index 13 percent over the past 12 months compared with a 2.1 percent gain for the S&P 500 Index. It’s also attracting private equity funds to single-family homes, which historically have been an investment for small investors.
Cerberus Capital Management LP, Deutsche Bank AG, Fortress Investment Group LLC (FIG), Starwood Capital Group LLC, TCW Group Inc. and UBS AG are among the financial firms that submitted responses to the federal request for information in September, according to a list obtained by Bloomberg through a Freedom of Information Act filing.
“We believe we’ll easily be able to raise $1 billion this year in total,” said Rick Sharga, executive vice president of Carrington Mortgage Holdings LLC in Santa Ana, California, which will manage the homes bought with Oaktree Capital’s money. “The ultimate fund could be several times that.”
Carrington Manages
Carrington currently manages more than 3,000 rental homes for Fannie Mae, mostly in California, Arizona, Nevada and Florida, Sharga said.
Single-family home rentals can yield cash flows that are 300 basis points, or 3 percentage points, higher than apartments, said Gregor Watson, principal of McKinley Capital Partners LLC of Oakland, California, which has invested $100 million in the past two years, buying more than 400 foreclosed homes in the San Francisco Bay Area and other western U.S. cities. McKinley’s largest financial backer is Och-Ziff Capital (OZM) Management Group, a New York-based investment fund with $28.9 billion under management as of Nov. 1, Watson said. Jonathan Gasthalter, an outside spokesman for Och-Ziff declined to comment.
“This will be a new institutional asset class in the next 24 months,” Watson said.
Forming a REIT
GTIS, which has $2 billion of assets, expects to hold its homes about five years, waiting for housing prices to recover before selling, Shapiro said. If housing prices don’t rebound, GTIS can exit by forming a real estate investment trust with shares sold to investors attracted by the rental income, similar to REITS for multifamily, industrial or office properties, he said.
“Single family dwarfs any of those asset classes,” Shapiro said. “When you think about the number of homes that are going to be rented and institutionally owned, they’re going to become its own asset class.”
GTIS, which has invested $225 million in partnerships with homebuilders such as Hovnanian Enterprises Inc. (HOV) since 2010, will hire in-house staff to manage the rental properties in each area, Shapiro said. He declined to disclose his expectations for returns on investment.
“We think the important thing is on the operations and management side as opposed to playing a numbers game, like I’m buying for 30 cents on the dollar to a 12 percent yield,” he said.
Buying in Bulk
GTIS expects to buy homes in bulk from banks, Fannie Mae and Freddie Mac, Shapiro said. Properties will also be bought individually at courthouse auctions and through short sales, when lenders agree to sell for less than the balance of the mortgage, he said.
GTIS will start buying in cities in Nevada, Arizona and California -- the states with the three highest foreclosure rates, according to RealtyTrac Inc. -- and Florida, which RealtyTrac ranked seventh in December, Shapiro said.
“The key is being able to efficiently manage these homes,” he said. “That’s why we’re targeting select markets. Our intention is to rent them, to hold them for long term.”
To contact the reporter on this story: John Gittelsohn in Los Angeles at johngitt@bloomberg.net
To contact the editors responsible for this story: Daniel Taub at dtaub@bloomberg.net; Rob Urban at robprag@bloomberg.net.
http://www.bloomberg.com/news/2012-01-31/foreclosures-draw-private-equity-as-u-s-selling-200-000-homes-mortgages.html
Looks like THRA already did, crawled under a rock that is.
"current shareholders will be wiped out in the rinse and repeat cycle. then they get to do this scam all over again."
The most common and detrimental rinse and repeat cycle scam out there and most fitting to a dirty pink like BNPD. Looks like today, not too many people going for it. Couldn't even get a C note out of it and all on the sell side. Maybe some front loading or promotional campaign might come along to kick some volume so Pawson and other insiders can dump a bunch, but still with the same results.
R/S -- Swish, swish, there goes the pps down the drain.
That might be, but potential does many times not turn out in that business. Tejones (Gouger) has a record of stating lot's of potential but very little or nothing to back it up from his wells or his oil operations. One of the expenses for shareholders is the payments to the operating company (in this case Tejones), so like a stock broker, makes money whether or not a lot of oil gets produced. That's aside from any share ownership in his penny companies.
Would you have a official link to those "geology reports", not just PR's or the like that states them? Just curious, might be out there, just don't seem to have any in my files at the moment.
ROFL Yes it is. Swish, swish, pps down the drain again after the R/S.
There's lots of reasons a well might not be drilled, but it usually has to do with money somehow and your reason would be included. Could be that reports or views by any people or partners have that it's just not feasible or economically viable to do so. Most if not all of Gougers oil wells are only what is labeled stripper or marginal wells and the cost to pump the few barrels out is meeting or exceeding any profits (also with violations or severances occurring regularly).
Just because an oil well is there or possibilities that a good amount of oil can be had from the reserve field, does not mean that it is some great gusher. Technology has gotten better in that industry, but lousy oil wells still get drilled.
But if and when Sanger site is drilled, there will be reports and "Potential Proration" results that has to be filed and adhered to. If production goes over that data, more violations will occur so any production will be recorded and limited to those prorations.
Then there is lease liability costs for "working interest" in any wells. Those also eat at profits and can be a major expense.
That has NOT been the statistical case here in the pinky world or even with this stock and basically been rinse and repeat for the spin with dirty shells including this one. Of course real oil wells that BNPD does not have are more of the position or issue of any shareholders. Numbers don't lie, pinky "administrations" and changes to those do.
"Administrative changes are better for the share holders in the long run."
Well as always, great deal for him, but bad deal for any shareholder that has to do with any of his stocks that he's associated with.
And as I stated before
"Changing symbols or upgrading cheap webpages means nothing as far as value for BNPD, turdy, toxm, tomi, or any other letters that may arise. R/S's have negative conotations for BNPD and lack of debt repayments, not taking care of the proper Texas legalities or violations for the dead oil wells, not having any profitable oil able to come out of the stripper wells that Gouger has have more to do with the stock.
Changing symbols or webpages happens all the time in the sub pinky world and always falls flat of the expectations and usually incur big losses for the gullible that believe in it."
I just have been keeping track of his actions and his associations through official documents and matter of records throughout a long period of time. What I stated is just what he's done and has been recorded along with paying attention to any current or future actions again through documented and official sources.
Why he has not drilled yet could be multiple reasons, but I could extrapolate that if those reasons weren't negative, it probably would be done by now.
Yep, R/S are only detrimental for the common shareholder, for the insiders of BNPD, it's great and Pawson as we know is the NO BID-.0001 King. So he sure doesn't care what pps BNPD is.
I'm assuming the "sad" part being the R/S. The ticker change has no value for the company and meaningless.
There seems to be a certain time process for all violations and severances with the RCC. It may take another couple of weeks for more notices to him and then longer for serious actions taken against him. Gouger uses this process all the time and ignores Texas law on regular basis. Gouger has had this type of violation before, but usually has taken care of it about a month after the original notice from the RCC.
He's really lagging this time out, but definitely improper reporting and violating standards are his forte.
Changing symbols or upgrading cheap webpages means nothing as far as value for BNPD, turdy, toxm, tomi, or any other letters that may arise. R/S's have negative conotations for BNPD and lack of debt repayments, not taking care of the proper Texas legalities or violations for the dead oil wells, not having any profitable oil able to come out of the stripper wells that Gouger has have more to do with the stock.
Changing symbols or webpages happens all the time in the sub pinky world and always falls flat of the expectations and usually incur big losses for the gullible that believe in it.