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And now Corestream has "new" investors willing to dump $10M into the company. I wonder what kind of discounts on shares they will receive for their investment. I have to imagine it must be as sweet as the deal the last investors got for the discounted shares they sold to settle all the bad debt.
Notice how the dilution machine started right around the stock ran and when Oil was the sudden name of the game.
has anybody worked out the real story on ault's pedigree? Is it over 22 years in oil (8K)or over 21 (PR)? what was his big oil experience before Dean Witter as Dean Witter (November 1992) is less than 22 and less than 21 years ago. Maye the oil he was referring to was the grease from the taco shop he was finding investors for.
I love the musical chairs being played by Ault. Supposedly Ault is a changed man but would a changed man play these games with public companies? I hope the filings to come out will come clean on the compensation Ault has taken out of these companies by playing these games.
Well, since August 2010 the company has diluted shares by nearly 50% according to filings and Ault. Any bets on who holds them and when they received them?
Let’s discuss Ault and Corestream.
In June Rainbolt took over Corestream and all the reports, including those from IR, claimed that Ault was completely out of the company. I questioned that fact based entirely on the legal battles Ault faced and the prior working relationship between Ault and Rainbolt. Recent reports now highlight that Ault was never gone and worse, the man with the legal battles is back in charge.
Now in December I made it known that I filed concerns with the SEC and I later received a call based on the concerns filed. I reported that the SEC was looking into ZLUS. I was asked to prove it and was called a liar except…today my claims were substantiated by a former employee of Ault’s. I was called in December and today an I-Hub individual who was a former worker for Ault stated that she was fully aware of this investigation. The records show we have had no prior communications.
And so here we come to Friday’s 8K and today’s promises of this massive PR. After nobody could get hold of Ault all day, suddenly everybody could and the timeline at 6:00 EST was 1 – 1.5 hours away. It is now 9:30 EST and nothing has come thru.
These are all facts as are the open court proceedings against Ault. We similarly remain delinquent on getting current despite promises and we lack clarification on the divestment situation as promised and the well ownership obligations as promised. Ault can come out with a great PR but the question will be – truth or fiction – based on the history of lying this man has.
This is a CEO who recently misrepresented his credentials (22 years in Oil and Gas; now 21 in the PR) and has stiffed business investors and employees in the past. Nothing has been shown that anything has changed.
UPDATE: As for the PR now out, it says nothing. What will Corestream give up for these investors? What did they give up for the one well? What percent stake does the company have in the well and ….did he really blame the weather? I see that the company is no wheres near ready to be current with filings simply pushing everything out to the right. It will be interesting to see if they can hit both Q1 and Q2 as promised. Q1 probably but Q2 i would say has a 50:50 chance.
Come on, nearly 6:00 PST on a Monday holiday and lawyers who previously had nothing to do with the company (ZLUS) are now going over a PR that will take about 5 minutes to read at best? Exactly what are they vetting it for? Do you think these lawyers suddenly know all about this pig and are verifying the lies Ault is about to paint? Are these the same lawyers representing Ault in all those other lawsuits he is involved in.
Once again people's hopes were placed on a con man. There is a reason people are looking into Ault and this PR he plans on laying on the crowd will be one of them. Play the pump boys and girls, play the pump.
Unfortunately it is hard to prove a phone call but that phone call did take place and I have relayed it to several in PM. I filed a complaint here against ZLUS with my suspicions and in return I received a call back from the SEC. While specifics were not offered, what was offered was the SEC's interests in Ault and ZLUS.
Is there any proof that any of these funds are investors? I never saw any notice of that. Looking at the California case, it is not settled yet either.
Really? Not what was being said in November. I believe that all this trust is being put into what IR is stating and yet it would appear they were in on this charade.
UNIVERSAL EXPRESS CRIMM ROUNDUP. UNIVERSAL EXPRESS PROMOTER INDICTED
================================
D. Weidenbaum and CLX & Associates Unregistered Sales
88. Beginning in or around September 2004, Weidenbaum and CLX entered into an arrangement with Universal Express for the Company to sell shares to CLX purportedly in exchange for "consulting" services.
http://ragingbull.quote.com/mboard/boards.cgi?board=USXP&read=554035
Ault...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58252186&txt2find=Ault
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58181323&txt2find=Ault
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57828637&txt2find=Ault
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56325371&txt2find=Ault
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57828032&txt2find=Ault
And here is one to question the current IR....
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56275444&txt2find=Ault
Sterv, very interesting. Suddenly Ault, the guy EVERYBODY here lambasted only a few months ago is now a savior who has turned the corner? If I recall, as I addressed Rainbolt and the questions I had of him, the rebuttal to each concern was, "this is new management" and the old management (bad management)is gone. That was only a few months ago. Now that Ault is suddenly back in the position of CEO you plead that "people can change". Tell me, what DD have you uncovered that showed this remarkable change in Ault. It certainly wasn't identified in December or January as in December and January Ault was still scum and Rainbolt was the "savior".
The fact is of the matter is, all this backing of Ault today is mere window dressing. Investors have to jump on to his bandwagon because they have no other choice. Well here is one for you:
If Ault has changed as you say, why did Ault lie in the recent 8-K about his credentials? Ault does not have "over 22 years of oil and gas experience" as he claims. He is 41 years old today and his time at Dean Witter is not 22 years ago. And according to his prior public disclosures of what he did at Dean Witter it had NOTHING to do with Oil and Gas. The man has a history of running a con and according to your post 'people can change'. Yes people can but there has to be proof they did so and not merely wishful thinking because he is now the man in charge. so please, before putting a big red ribbon on Ault as the savior, show us something Ault has done that differs from his past which includes being sued by near everybody he worked with. From my research, both the case in NY and California are still open and the SEC is still looking into Ault.
not everybody can be a cheerleader day in and day out regardless. it generally helps when shareholders actually speak what they feel instead of conning the readers into false senses of security.
please, with every missed opportunity there will always be an excuse...and a denial of facts.
*post* transparency? i guess that depends on what you consider to be transparency. how far behind are they in filings financials, material events, etc....
taken private? at todays O/S, revenues, and PPS, you mean you would accept $0.0001 per share? Interesting.
i hear Penny is the next CEO.
Looks to me like Ault may be padding his resume a bit.
According to a recent filing, Ault is 41 years old. In the 8-K he claims to have “over twenty two years experience in various aspects of the Oil and Gas industry”. That would imply that he has been in oil and gas since before the ripe age of 19. I guess he skipped college and went right to work at Dean Witter - oops nope not true.
I was looking at another Bio I found when he was 39 and this is what that Bio claimed:
How can management change be positive? The supposed *new* CEO is presently part of the company and:
1. He/She is unwilling to take control publicly and,
2. He/She is unwilling to buck up against present imbeciles and get them to move in a more positive direction.
that leaves us with only one conclusion. the new guy is no different than present garbage and the naming of said individual is merely window dressing for this pig. think about it, who in their right mind would be the *next* CEO and let it stand in hold for all this time while present management continues to dig a deeper and deeper hole. wouldn't it be better to take control and make the decision YOU want made instead of allowing present criminals to screw things up?
You do realize that once individuals get to a certain level of denial there is no possible way to provide them with the truth and have them believe it. There is only one way for certain individuals to understand the truth and we all know what that is - only then will we see this circus move on to another board.
Where did they get the money for THIS well we keep hearing about?
I would still like somebody to address the Adkins resignation. According to Ault, Rainbolt resigned for personal reasons but is still working for the company, which is it resigns or steps down for a lesser role. Choice of words I believe says it all. If he steps down to a lesser role, why would Adkins quit? If Rainbolt no longer works for ZLUS it would explain Adkins quitting since they came in together.
The fact that Ault has stated made two completely opposing statements should be a testament to his past failures and what you can expect of him in the future. He is a spinmaster in a con. Probably why the SEC is looking into him as we speak.
Is Ault still at Angel? How exactly has that been performing these past 8 months?
Ault and Rainbolt have a history together and this shell game of who is in charge is extremely disturbing.
yea, they have been receiving them for YEARS and have done nothing. What exactly does that tell you?
I wonder, how long will we read about "news is coming"? It seems that is all that is ever said here and yet it NEVER comes. What exactly can come out for news? The filings say it all - they got nothing but self-serving deals going on.
sterv,
To your points regarding who it is that operates this company: When Ault was replaced by Rainbolt it was unanimous that Ault was trouble and could not be trusted. It was Rainbolt and his "family ties" that made all applaud despite the fact that Rainbolt personally had no experience in this industry. The terms in which Rainbolt took over the company were never disclosed but lots of "euphoria" PR's were made in a short period of time - running the stock.
With Rainbolt gone nobody knows again why he left but what is being presented makes no sense. Atkins left as well which means they left the company - not work behind the scenes. Atkins was never publicly challenged so what caused his departure? It is part of the equation nobody discusses. Rainbolt supposedly brought in friends and family to finance this adventure as it is clear ZLUS hadn't the capital to do so. so did he abandon all of them because of some posts on I-Hub? Very unlikely. You also don't pay out severance to somebody that is still working for you. But that is just business.
With regards to oil and Ault, Ault is a legal nightmare. He lies and cheats a lot and people sue him. The fact that he came back into this is a MAJOR red flag that he never left and that Rainbolt was a trojan horse to orchestrate a scam. Ault has ZERO experience in oil and has a poor track record of running a company and doing so legally. Under Ault ZLUS was sued many times and was relegated to Pinks for not filing as required. to think that he can run this into a huge business because you have oil of unknown quantity and percentage ownership is a major stretch.
This smells really bad. Rainbolt made promises he couldn't keep and SHAREHOLDERS called ZLUS repeatedly to get the questions he promised answered. Rainbolt promised fully reporting by this month and has filed nothing since August. to let Ault make these wild claims about why Rainbolt left - and believing them - is foolish. Ault is a PROVEN liar.
Here is the way I look at the Rainbolt situation.
1. He took on a public company and a public company in distress. He had no issue with producing PR’s that hyped his program and he put out PR’s making a litany of promises. But it seems from what Ault is portraying, Rainbolt quit this “great opportunity” because he didn’t want to deal with investors who were upset that he made promises he couldn’t keep. What exactly did he expect? Rainbolt stated what he would provide investors in January, is it their fault he stopped providing this?
2. Rainbolt quit so that he could be putting his expertise in the field. Pure garbage. Rainbolts very extended family may have field experience in oil but Rainbolt has zero. The resume he posts shows zero Oil Field experience. His jobs in California had nothing to do with Oil and neither did his role as IR for Ault in his crooked business.
3. If Rainbolt quit because he couldn’t handle the limelight and will work in the fields, what is the story with Atkins who is a finance guy. Was he harassed as well? Is he now a field guy as well? Why is ZLUS giving them a compensation package for quitting if they still work for the company in a different capacity?
But heck, why deal with these issues when that recidivist con man Ault tells you all is well. How many more lawsuits can he he get filed against him?
hate to disappoint but P&D don't require a companies participation. A group of investors ran this up off bogus assertions and then dumped on the ensuing buying into the hype. Now that they profited and left the trade volume goes back to nil.
it still supports all i have said before - Ault and Rainbolt were in a dealing. If Rainbolt wanted out so quickly, why go BACK to Ault? I thought Ault went to Angel Management (another crooked company).
You mean the same Ault whose companies went bankrupt and who had an arms length list of lawsuits against him? what ever happened to the euphoria about Ault out and new management in? Seems the crook was never really out after all. Hmmmmm where did I hear that before?
very interesting....I am curious about the indemnify clause. and Ault is back. That supports the claim i made earlier about Ault and Rainbolt and their prior relationships. I think this likewise debunks all those claims that Rainbolt and his vast family fortunes and connections were financing this activity. Would Rainbolt bail on his family?
Clearly the lawsuit did not yield the intended reaction so they dismissed it....that and they found they had no case.
don't confuse reality with home grown conspiracies. Some *conspiracies* have legs that can run for a long time before *poof* everybody vanishes without a peep.
specifics are relative. I would say that some *present* what they think are *specifics* when they are in fact anything but. I see trade reports daily that are intended to *paint* a picture that is anything but accurate. In fact, i would venture to say that those *specifics* are not *specifics* but are in fact intentional misrepresentations.
sure it can, how many times do they have to be repeated? Didn't they say something about revenues they never achieved and were not in a position to achieve?
stop playing coy and do your research...as *you* have stated plenty of times, the claims have been made before, go find them yourself.
specifics have been made here ad nausea, go back and find them. as for generalizations, I leave that for *others*.
sure there is....this company is a scam that has been bought into by suckers who choose to believe in a conspiracy in order to deny they made a mistake. the company lies to them and they help make excuses. some even take normal trade data and manipulate what it is into their own conspiracy *including* the manipulation of what the short sale volume metric *represents*.
EXPH is not a company destroyed by short sellers, it is a company destroyed by poor management who continues to lie to naive shareholders.
lol....*recorded*
how many of you guys have done your part by complaining to the sec? greasy wheel syndrome here.
this damn stock just doesn't want to move. wonder why? what happened to all those good things to invest in? this is more proof that the last run was nothing more than a promoter run.
why bid on a pig?