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Ok.
But, talking about:
they are on the wrong train and they are overall wasting their time
No.
I'm saying there is a HIGH POWER attorney willing to take the matter on contingency that thinks there is a time limit.
I guess that says it ALL!
Wrong again!
There is no required time frame for issuing a notice of default.
Yea right!
You prove my point.
Drilling/Payment stopped in August/September of 2008 and when was any noticed received?
Geez,
Your response:
If you looked at the documents, you'd see that it includes the SmartWin attorney's letter to EEGC outlining the breach - well before any "9 month" time period had passed.
Well, yes!
The Memorandum of Understanding makes it obvious that EEGC had to have SmartWin's permission before deviating from the budget. By submitting invoices in excess of that budget, EEGC (at a MINIMUM) put themselves at risk
SmartWin makes a case that they did provide notice of breach, and Empire failed to cure. Empire denies this. The court will decide, it seems...
As for this:"the judge has allready laid it out as such. ..."
Laughable. Completely contrary to the documentation. Can you show otherwise? Laughable. Completely contrary to the documentation. Can you show otherwise?
Again, your post is tangential to the real issue. You point to mere denials or admissions that are superfluous, trifle, of small detail and have no value to the fact that Empire was performing when SmartWin failed to pay the money and thus causing a breach w/o notice of any default to Empire until 9 mos. after SmartWin breached. That is what all of what your sweet minuscia will be boiled down to. In fact, the judge has allready laid it out as such. Therefore, in my opinion, there is no way -no matter how many attorney bills they pay subsequently- that SmartWin will overcome that error.
Well, your math is good.
And I agree. No stretch involved as judges like damages laid out real simple. So, thanks! But you forgot a few things like cost of the float, Hunt, loss of income, PPS, etc. Add those and it's a very comprehensive damage claim!
But, the rest of your post shows how you're slipping, z.
I repeat, it will be something wonderful to see how Empire argues that Smart Win was responsible for the $1.1 billion "asset" exclusion, and even moreso how a make-believe "asset" is also a genuine dinki-di fixed asset (without the inverted commas). If I were the judge I'd be asking to take a look at Empire's Balance Sheet.
Thanks for the redundant reply. You have just simplified my overly-simplified response.
It's simply a point of legal procedure, and has blah, blah(unquote) to do with the merits of the case. In a lawsuit, the parties lay out the facts backing their arguments. The other party has to respond to each "fact." If they don't respond, the initial "fact" is deemed by the court to be "admitted." (Yes, I am aware I've simplified things a bit.)
When Empire sent SmartWin invoices that exceeded that budget, they were in default of their agreement.
I have never said: As you say you are in possession of facts that others don't have perhaps you would be so good as to inform us all why Smart Win declined to complete the loan after performing its audit. I would point out that if Malcolm persisted for 9 months in trying to persuade Smart Win to part with the outstanding $1.1 million he must be very slow on the uptake, especially as there would have been no hope of funding the completion of the Bellevue well even with it. He chose to allow the Hunt rig to be set up and stand idle for several months after learning that Smart Win had turned off the money tap.
Moreover, why would I inform anybody here of actions of SmartWin relating to an audit when no audit has ever been performed?
As far as your following points, they are redundant:
Nice oilzleuth,
The $1.1 billion damages sought refers to the supposed value of the 12 or so structures that were excluded by MRT in granting EL 14/2009.
I think your above comment is a bit of a stretch. But, who knows maybe Malcolm and us shareholders can add that to the damages in our complaint/ cross complaint, too.
Thanks!
Talk about speculation!
Haha, lol. What audit?
Wrong, Bob.
It was not filed as strictly a defensive matter.
If you knew the facts and you thought about it a little you would see that the main reason the company did not file suit first was because Malcolm tried wisely and diligently for more than 9 months to get SmartWin to follow through. (ie: the reason for Hunts standby charges)...
When that process brokedown at that point while Malcolm was trying Boggs etc., Smartwin simply jumped the gun...w/o thinking much... and now, imo due to that further mistake
they are simply, Ocholitti's cash cow!
In summary, it doesn't look good for SmartWin AT ALL!
'Er, I mean a cross-complainant!
Well certainly, Oily
It' snot a foregone conclusion.
But, it looks pretty good and if the court finds that SmartWin breached the contract then certainly it won't be trivial!
After all, the Empire is seeking over a billion dollars in damages which are deemed factual before the court, you know.
Of course, they would have to be proven. Of which, by the way, included in those damages are the ones that would include the loss of share value from that point of breach thereon.
Geez, now that I mention it, (hehe) I might want to become a plaintiff!
Hohoho Hi, the driver'z's.
I'm checking my list and reading it twice and apparently...
there's more than a few Christmas cookies (of shareholder's) missing by others (as you're aware) than just off of Empire's back.
Santa's coming.
...and he's watching!
Santa,
No problem, thedriver.
The facts that are in my post are indeed VERY factual.
Prove to me they are not.
Who's playing?
I'm simply a small investor in this company.
And you?
...and Oh, contrare. They ARE true!
Hi z,
The fish doesn't need to substantiate anything to you. I will.
You say he stated:
Quote:
--------------------------------------------------------------------------------
EEGC took Smart winn to court and won and they are on the hook for an enormous penalty.
--------------------------------------------------------------------------------
So let me break it down for you real simple:
First,
"EEGC took Smart winn to court" ~true statement~
Next,
"and won" ~true statement~
And finally,
"and they are on the hook for an enormous penalty" ~true statement~
Simple enough? It's all very public information.
Good luck!
Exactly. Thats what I'm counting on.
Confirmation of your sentiment.
Thankyou, it's going to make me a ton of dough!
I know. Look at that purfect 1 year cup and handle. I'm thinking it's pert 'near trigger time!
Idk, bro.
I'm thinking 'bout what I've been puttin' down lately is a no brainer. No reason at all, imo, why the company shouldn't be funded.
I also heard the time that when everybody else is gun shy is the time to be doin' it.
Eh?
Yep.
I heard that some people got dough out there and that investing in Asia is the place to put it.
Isn't Taz kinda like part of that classification?
Cause if so, tomorrow might just be the day I starts a shovelin'
Hehehahey,
Wassup Shaw!
That's funny stuff...
Apparently, they don't seem to fund things for very long either.
I'm thinking the next round however might be coming from Singapore.
That's not a part of China is it?
Nice.
I know what you're saying.
But, I think there's alot more going on with the company than just in our thoughts...
So much, that I think I'll load up on some more.
Shucks, now that it doesn't look like there's free ones...
I didn't mention the points you brought up because they have no meaning to the matter.
It's like wanting to get into your house after crossing a wide and raging river.
In order to cross on the other side you have to do something like swim, walk a bridge or by some other means...
In other words, you don't just appear on the other side without having to do something. Then, you get to go into your house.
Ok?
Shh, I'm trying to get some shares here.
Ok. Put it this way, if you just spent 4 million and you just turned off the money valve and thus shut down a project your obligated to fund another million without giving any timely required default notice...
and then, feeling more...
Well, as you're paying a sireen chaser big bucks to take down a yard dog...
as a BIG LEAGUE judge says on the record in uncertain terms that it doesn't look good for you as your facing 1.1 billion in damages...
Well then, what would you do?
Would you continue to gamble in the same manner thinking you've got a 98% chance of getting your money back and then...
Well, would you?
What?
Would you put up your shares against mine?
Because if so, well then...
I'm interested!
Btw, here's Mt. Lloyd:
http://maps.google.com/maps?rlz=1T4DKUS_enUS333US347&q=mt+lloyd+tasmania&gs_upl=0l0l2l5395509lllllllllll0&um=1&ie=UTF-8&hq=&hnear=0xaa6e65f17791478d:0x403c94dd0de04b0,Mt+Lloyd+TAS,+Australia&gl=us&ei=xG7uTvC3CLDWiALA-KiBBA&sa=X&oi=geocode_result&ct=title&resnum=1&ved=0CBIQ8gEwAA
Did I forget to mention that I think they should throw that well in too.
Nothing like splittin' it up, eh?
And as the venerable clips would say....
~seems logical to me~
Nope.
It's real simple.
I'm saying SmartWin should have brushed up on New York law before misunderstanding their understanding.
Haha and what's even funnier is their (and your) continued
(mis)understanding of their understanding that you allude to.
Lol.
As Clips might say...
"Seems logical to me...that more than one person here is showing signs of consumption."
I say, by using Abstract 2.3 and common sense, that Empire settles the now "misunderstanding w/ Smartwin" by having them immediatly fund Bellvue & T-bolt plus compensating current attorney fees.
That way everybody is happy including Smartwin as (they could pay alot more!) and we could all save us a few hangovers...
News Flash,~ LA TIMES
THE EMPIRE STRIKES BACK W/ NEW "BENDALL TECH" and IMMEDIATELY TAPS BELLVUE AND T'BOLT!
Oh boy!
It appears the brave little TAZ is moving up in the world.
I especially like Fig. 1 where it shows that Tazzie was the Southpole in the day:
http://www.mrt.tas.gov.au/mrtdoc/tasxplor/download/04_5063/June2004Reid.pdf
I wonder if that's why they coined the term: " down under "
Ooops, or is it the: "down wonder"?
It's so confusing...
Yep, I agree.
Very impressive, indeed. Looks like someone else around here also agrees, besides myself and TXO, that Malcolm has good underwriting skills too.
Well, no actually.
...'Er, at least not at this point in time...
But, that could change, you know. As of right now though, meaning now that is, the Empire is only seeking 1.1 Billion in damages...
So, well maybe this helps:
When you initially move a court (called a motion), you put forth in your papers, your cause of actions, arguments, etc. (if any) and at the same time, apply, seek and request of the court (the judge) for relief and /or for damages.
As such, you cannot and you will not receive more relief or damages than you request. But if found, under it's vast discretion, the court can award any amount up to the amount in your request.
However, I suppose the judge could award more damages than you've requested "sua sponte" (meaning on it's own motion) if it found that the action was eggregious enough. But, that's highly unlikely here/there, well, you know...
They like to be moved.
Ha,
'Er yea!
"If so Smart Win will be watching with interest."
...watching helplessly as EEGC's damages grow!
Ahh yes,
The almost bearable likeness of mind...
Wherein the fine qualities of being human, information, through thoughts and dreams becomes so illusory...
Where one person's ketchup becomes another's catsup...
Anyway, letting all that go, as my dog says: " Let me out!"
Mmm, maybe knowing TXO's sole business plan is to invest in oil and gas and that through their amazingly successful underwriting prowess of investing in Morgan and now EEGC, Malcolm's saying through the JF'ster: "It's simple math!"
That: ____x 14.3% = 32,000,000.00;
And thus, extrapolating that:
3,000,000+/- x 19% = to da MOON!
Yes?
C'mon,
The purpose of the "coming and going" of David Villareal does not appear as nonsensicle as you reflect.
In order to keep costs down it's customary for a company to appoint professionals for a term (in this case as a director) to assist w/ operations w/o the liabilities and cash expense of employing them full time. But, obviously (as chairman) he had more to do w/ the company than just reviewing matters.
As such, when he was hired previously, the attached 10k described some of his duties, most importantly, as an MBA to audit/review the books because the company had no financial expert at the time.
http://sec.edgar-online.com/grand-monarch-holdings-inc/10-k-annual-report/2010/04/15/section19.aspx
Seems more plausible that he's returned to do the same along w/ our new CFO, the respectable but not so experienced, Nicole Chesterman.
Mmm, I thought they did. Maybe you're right.
As far as your previous contention, I gleaned my information from the recitals in the MOU.