They're probably spreading to prevent more accumulation at this price range. It's either up or down from here, but probably not sideways...

If constructive criticism does not occur in these boards, then they're just a venue for pumpers. Relevant criticism and whining are not the same thing. It is our duty to decide how possible it is for Ingen to recover from all this, and whether or not their actions were positive despite the extreme loss of shareholder value WE suffered.

The board is not about spreading cheer, it's about shareholder discourse. It's about learning more about the company together, so that we can all benefit and NOT get screwed in the ass by a pink sheet scam.

As far as I'm concerned, anyone who can look at this as a good thing needs to re-evaluate their strategies. a 40-1 reverse split is so damaging to the shareholders in the short and long term that you might as well have just asked us to pass them in. And then we get criticized when we express frustration and doubt about management??!!

I'll make a deal: put $10000 into your bank account. Now write me a check for $9750, and invest the remaining $250 in Ingen. If your $250 becomes $10000 over the next two years, I will gladly return your 9750 with an extra $250 for the effort. That may not seem like much, but my time, effort and patience is worth way more than that, but that's about how it will work out for me if Ingen recovers in 2 years. So, is it a deal?

Clare,

I'm sure they are doing okay, but exactly how okay are they doing? 40 times better than the day before the reverse split? Looking at their chart, it appears that they peaked at $120/share, and the lowest they got was around $10-15/share, and now they trade at around $35-40? Ingen has a MUCH higher recovery demand than that. Short of $1/share dividend announcement, I don't see how they'll pull it off.

I agree Hurley C is taking it perhaps a little too far, though I can't say that I blame him...a 40x loss is a 40x loss, and people have a right to be upset, especially when there may be illegal goings-on.

moreover, why can't we, the shareholder base, be irate about this move that was *supposed* to be good for the company? we have *every* right to be upset.

who wants to remain long after their share count has been reduced by 97.5%??????

Oh I will...I'd just like to see if, before then, I can maybe NOT spend more on trading fees than I have in stock value...lol

that information came from a phonecall to IR a while back....but you're right, I don't even know when their fiscal year ends......anyone have a spare beer? my DD engine is running out of gas, LOL -griz

It's 5:30...do you know where your investors are? (I hear crickets.....haha!)

Level II is not available for Pinks with most brokerages unless you pay to have that service...

uh, dilution? shorting perhaps?

that is, if you believe the hype ;)

not likely...they can't audit 2005 until 1/1/2006, and it takes a couple months to get audits together these days (supposedly). Once everything is submitted the SEC needs to review all the materials prior to moving to another board, and if I'm not mistaken that can take quite a bit of time.

Quasi OT:

One who does the right thing in the face of opposition is a leader.
One who does the wrong thing in the face of opposition is a tyrant.
One who delegates the decision in the face of contraversy is a coward.
One who ignores discourse on the decision is a fool.
One who throws his hands in the air and gives up is a loser.

How many of these apply to figure-heads in the pinks? I would venture to say all but the first one, but only because I've got my undies in a twist :)

misprint? E*Trade does not verify this...

I don't see much recovery possibility here either. To recreate original shareholder value they would need to raise the price from .09 (where it's currently at) to probably around $1.20 or so, if you figure .03 is where alot of people got in before the split was announced. Sigh....

I wonder...

Is it possible the company short sold and announced the reverse split so that the COMPANY could cover their position?

Does that warrant a revolution?

Can someone remind me what the R/S was supposed to accomplish again? Let's look at this:

- to raise PPS -- yeah right, if you're in the pinks all it does is give the MMs a chance to short it into the ground again

- to reduce O/S -- sure, that might work, but you're going to dilute again and this time nobody's interested, so reducing the O/S b a reverse split does nothing but piss off your current shareholders

- LOD is now at .06 on first day of trading, over 50% down....great accomplishment

maybe the spread is so tight because they're waiting for the Progas numbers and don't want it to fly in either direction until then.

well, he said he was going to take care of them...I didn't realize he meant reward them for keeping the stock price so low.

we have a slight PPS uptrend *now*, but we've been in a steady downtrend for over a month

something just occurred to me this morning and I would like some feedback. If IGTN was being shorted by the MMs, and that's why the price never recovered once it fell below .03, a new ticker would have forced the MMs to cover their positions and the share price might have bounced back. However, with the massive selloff after the reverse split announcement, didn't Sand give the MMs *exactly* the opportunity the needed to cover?? Was this more than a tragedy but an insanely stupid market decision as well?

this is my point from earlier yesterday, which makes this a quasi-dangling carrot. When is PBLS going to start realizing these revenues? Sure, they may have a 10-year lease in Nevada (almost all leases there are 10 years from what I have gathered), but it's only worth something if they actually plop a well there. So, how much of that 10-year lease is going to be spent *not* drilling? Time is money here....

The speculation pool is dried up. It's time to get investors, and you can't do that without numbers. Let's go people :)

does an upward A/D trend and a downward PPS trend typically indicate dilution?

can anyone photoshop that Baghdad pic with dangling carrots?

I hope you're right....I guess we'll see ;0

I do not find this puzzling anymore...a month ago I would have. I'm almost 100% convinced that they're diluting.

it just occurred to me (and I know this is obvious already) that as long as the TA is gagged IR can claim up and down that the MMs are shorting and we have no choice but to believe them or disbelieve them.

White Pines County

map of Nevada county lines:
http://www.lib.utexas.edu/maps/states/nevada.gif

map of Nevada
http://www.sitesatlas.com/Maps/Maps/NV1.htm

I am still holding because I'm waiting to see the numbers from the Progas acquisition. Every time a new PR comes out I am disappointed because there is so much information left out. So let's see:

- TA is gagged
- no audited financials
- very positive sounding but very possibly misleading PRs

It gets harder and harder to keep the faith here. I still have it, but I must admit my patience is running thin. I'm beginning to believe that they are doing all they can to keep the speculators buying until they actually have something real to give to potential investors, because right now they may not.....

I dunno, maybe I'm just pissy cuz I didn't get much sleep.

Dangling carrot:

I'm not trying to be a killjoy here, but this release increases the speculative value of PBLS only. Below is a layman's attempt at quantifying all this:

1) This is a lease, not a purchase. I have not been able to find any land for lease or sale in White Pines through the half dozen or so online property searches, but land prices in that area are probably fairly cheap since its not well known...if we use rural TN as an example we're looking at no more than $1K/acre, so about $7.8M value of the land. The lease will not be for that much, obviously. I'm not familiar with land leasing margins, but I know housing rental units try to pick up about 10% to 20% net after costs per unit rental price to make it profitable, with the hopes of paying off the property after 15-20 years, so I will put the cost of the lease at around $38K/year. Okay, we'll make it $75K/year because of possible demand increase and financing.

What are the terms of the lease? Again, no information. 1-year,10-year? How much was the lease? My guess they left the figure out because 'all-cash' sounds impressive when in reality they only shelled out $75K for the first year. $75k, or $100k, or $200k, whatever....the lease is not $1M, and this PR's use of 'all-cash' does not amount to much as far as I see it.

2) 'planning to quickly deploy' -- this means it's just bare land, we have no equipment there, we don't know when we'll start drilling, we don't know if we'll get any oil (but our neighbor did!), but we'll be talking about it and would love to have it happen soon.

This PR, like so many, doesn't do anything more than say "We have another possible revenue source under our wing." While this is a good thing, it's not going to help the stock because it's SO speculative as to almost not be worth the hassle. So far everything we've seen with PBLS is speculation and no real numbers. Phoenix has not stated "We've taken in $xxx dollars in Qx or month x, etc".

In my opinion, THAT is why the stock doesn't move. Because the speculators are all in and the investors won't touch it because there are no concrete financials.

If you go back and read some posts of mine you will probably see a different attitude towards these kinds of PRs. Once bitten, twice shy, and those who cry wolf around me quickly learn that I don't put much faith in dangling carrots.

Because that's what this is, a dangling carrot.

One thing is for certain, the Brassbulls corporation needs to hire a new web designer....blechhhh! The Disclaimer page looks awful and is a pain in the arse to read...

not much info available for BBC other than it appears to be owned by Raptor investments. anyone have any more info?

no, but the BBC site is a little quirky...reminds me of some of the posts I've seen on this board

More importantly, slanted drilling was one of the reasons Iraq invaded Kuwait back before the Persian Gulf War

Phoenix is probably included in this since they are technically incorporated out of Nevada.

a well in *close proximity* to the lease....meaning it is NOT on their land. This is not immediate revenue, the property needs to be occupied by wells still. Just to clarify...

That's GREAT NEWS, but......

this is potential revenue only, not actual realized revenue. I fear this won't move the stock, but I've been wrong before so I guess we'll see :)

Can't wait for the ProGas announcement!!! :)

not to dance on toes, but he's supposed to be very optimistic, that's part of his job! This is so much a game of emotions, and I'll bet many people who call him and are stressed and frustrated leave feeling great. But that does not translate to good stock performance.

I have talked to Mike a couple times, and I agree he is very nice. I also think he's frustrated that the stock hasn't performed better. But it is important to remember that he's also in the elite crew of people who know *everything* and thus you need to keep your salt grains handy and read heavily between the lines whenever possible.

That having been said, I'm glad he feels optimistic :)

Cowboy,

Howdy partner :)

if you look at the PBLS site, the info states that they have 2500 residential units and 300 commercial units built under their belt. If the company was around for, say, 25 years, that's 100 units/year. That's a mighty impressive figure which suggests that the construction companies are not small.

And the PBLS site is probably outdated...

the brokerages (and MMs I assume) are waiting for the shares from the Transfer Agent, presumably they cannot start trading until that is complete.