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That deal sickens me as the Endeavour production
is dam near where it was when we bought it, what a find! Thanks Notman, Dominick and Friends. I just pray Calentine can shake up the idiots and fire the morons. My cerncern is that he is on the west coast and Aspen Resources is far far away from his horse ranch. Enployees will take advantage of this issue unless he runs a tight ship. Hopefully he has anointed someone to kick butt in both regions?
STL
Even $3.00 per BOE can't out pace our expenses.
JW and freinds must have been looking for M & A possibilities
in Las Vegas. Keep you eyes open for staff reductions and pink slips. The Canadians need to step up their production, big time!
IMO, STL
Bid .03 ask .14 let the games begin! eom
SHEBA it's a gamble right now as
the credit situation is not yet resolved. It would be safer knowing our banking relationship was secure. JW and freinds are sitting on Millions that can be dumped silently now that they are no longer insiders so watch the volume. Large volume days with no significant upward movement probably spells dumping.
I averaged down (gambled) at .05 some time ago. Things may improve soon with gas at $5.00 so roll the dice with the rest of us!...LOL hopefully we don't crap out.
Regards, STL
Calentine must like Mercer
as he was pursuaded back? It is good to see pragmatists at work after 2 years of JW's soft spoken soothing ooze.
Let heads fly and get rid of that dam good ol boy acidizing unit we paid so dearly for, follow that with elimination of redundant management and we might just start looking like a real company.
My gut tells me Cudney and Calentine will right the ship but sell us off or merge us with a competent oil company, just a gut feeling but I don't think Calentine wants the job permanently or he would have left off the iterum title.
We shall see, STL
Good start Robert, now "Let's Roll!"
Some heads that is, we'er burning precious reserves and our previous management is still poised to dump shares until we go blind.
I have an idea, Bugsy please close your eyes cause it's ganna hurt...LOL
RS this mess back under 5 million outstanding, Relieve the thieves of their shares. Correct all business internals within 2 Qtrs. After all gas is at 5 bucks!
Then do a forward split and reward those that have stood by this dam company. I don't see any other way to clean out all of the corruption built into the share structure we currently sit on. Just an idea.
If the BOD needs shares to counter the CONS, please ask and you may recieve. Many principled investors may be willing to help an honest management team make something of all of the assests we are sitting on!
P.S. Thank you for being forthright with your investors it is VERY MUCH APPRECIATED.
Just my opinion, STL
No, Bagels today!....LOL... eom
Bugs Endeavour appears to be tainted
with Cubacan type wheeler dealers. The Romarco offer was proof that our Canadian freinds may be operators but I'm not sure it's in oil. I would like to see Kent follow Briscoe as our Canadian production appears to be a failure at this point and Kent orchastrated the offer for Romarco's cash, not a bad idea but obviously desperate.
These guys are going to claim depressed gas prices caused this problem when in fact we all know production simply has not kept pace. Where is our Canadian Production, we were to busy making sweet deals and buying friends assests for more than they were worth? I say fire them all and start over. If that can't be done sell the company to a real oil company and let them do the dirty work.
IMO, STL
Problem is: Briscoe and JW are sitting on
millions of shares to dump! The BOD must
pursue these clowns now or we will be seeing
big volume days at a penny or fractions there of.
He needs to file an injunction to prevent all previous insiders
and their "consultants" from selling any stock until
these matters are resolved. The BOD needs to hire some
new managers, promote their best and can the rest. Time to clean out the closets.
Bank One isn't going to extend our credit facility if they feel crooks have taken them and are still in charge. If our books have been cooked and we know they have, we are in deep do do.
We can now figure out who's wells we own such small % in,
the good ol boys of course. We've been getting it from both sides, it may be time to give a little. Let's see if Calentine can shape this mess up by the end of Q4. Let the "shake up" continue, roll some heads Robert!
IMO, STL
Flim flamed by a bunch of Enron wanta B's!
It appears Calentine is trying to clean up JW's
messes back to 00. Aparently the Good OL' Boys
have worked us to insolvency? Even if we clean
up the U.S. dirt Calentine will still have to deal
with JW'S Canadian Co-Conspirators. Can we believe
Notman and Friends are any better? Why do we not see
that anticipated increase in production attributed to
our great Canadian find?
If the new BOD can purge this disease ridden company of
ALL of it's perisites we may survive, if not we are done.
I want to see more firings and legal actions taken by managment and the BOD on behalf of the company and it's shareholders. Any instutions or third parties which have conspired to decieve must also be pursued to recover any funds gained from fraudlent activities at the detrament of the company and it's shareholders.
In My OPINION of Course, STL Fricken Crooks!
Jack is still Chairman according to
Aspens profile at WISI.com
Calantine listed as Interim CEO
So what's with all the secrets!
Very good point AM Lake Powell was down 45'
last summer as where all other western water ways.
Our house boat was nearly land locked in the
middle of the lake last June. Could take a few years
of solid water flow to back fill from this drought.
Your always thinking:)
STL
Do you think we can make a profit
in the $4.00 - $5.00 range?....LOL
These guys need to look for a buyer now if
they can't figure out how to make money at
these levels!
STL
Bryan, you stated "management is in tact".
What exactly does that mean? Is JW still chairman?
TIA, STL
Where do we go from here?
EASY BUGSY, your going to blow a key board..lol
In the event the company doesn't realize a viable operation investors will have to consider their next move.
My statement that "it doesn't matter how we got here" was a bit out of context. I was simply stating that someone needs to step up and move us forward which would appease most parties.
Let's face it, unless someone reliable takes control this investment is dead. Who wants to own this stock with the current flim flamers in charge?
IMO, STL
Dave, Bugs post don't bother me
as one shouldn't make financial decisions based upon any poster.
Fact is I feel much like AM, used. JW sent out the press releases and corresponded with me directly on several occassions. I took the man at his word and Bugs was more right to question motivations than I was in accepting JW's word in retrospect. Now it doesn't really matter how we got here but rather, where we go from here. I too have experienced privatization of a stock I owned and it wasn't pretty. Employees got screwed and so did the shareholders.
Aspen is a train wreck with aparently no one competent enough to put us back on track. Where oh where has our Calantine gone, please don't make me sing the rest..LOL
Just my opinion of course. STL
Maybe JW rolled over on these fools
If he got taken down the road by these clowns.
We shall see
STL
I told you Kent is, well you know:( eom
Don't find the "D" at OTCBB or Fidelity?
STL
At this point anything would be an improvement eom.
Bugs, shareprice would indicate
we are no where near 4,000 BOE per day.
Insiders friends and relatives would be bidding us higher. My gut tells me, EXTREME manipulation or outright fraud is keeping us where we are. Insiders aren't touching the stock but I'll bet you they intend to continue their pay checks. I also think we'll likely see court action to bail them out. Remember, we are dealing with a group of lawers here. They don't usually run businesses well, they do talk a good story however.
We need an outsider to clean this mess up, Calantine being a business man may be our only saving grace. Let's hope he did as AM put it shake up management to mend this mess.
In my opinion, STL
Is it possible that JW was raiding
Aspens prospects or diverting resources for his private ventures? I always believed JW and Mercer were tight, Mercer's resignation followed by JW's departure and the re-hire indicated an enourmous internal struggle. (Note: Mercer accepted a subordinate position to the one he quit, strange.)It's possible Mercer made the first move to force the BOD's hand and ask JW to leave? I believe you are correct, management is obviously reluctant to indorse this mess and could very well be looking to restate past Qtrs.
STL
Shorting is the way in the Yukon Territories
Organized crime loves Canada because they are reluctant
to inforce securites laws in the Great White North!
I find it hard to believe indsiders sat by while share price
tanked daily. I doubt we will ever have all the facts however.
In my opinion, STL
Grahm Notman CFO?...LOL...Go Yukon Corps.!
Filing the wrong Qtr. Nov.30 going to buy time
or are they simply incompetent.
I emailed Canada and U.S. last week including JW
but no response. If they didn't still answer
the phone I would believe they didn't exist.
The next filing we see may be BK.
BTWY management has a picture of who is still holding
this toilet paper. I'll guess there are 5 of us still
standing!..lol
STL
They think SEC will not notice that
the June Qtr. was aready filed!
Who is the CFO now?
STL
Gobble Gobble slide it out on a platter
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Financials - ASPEN GROUP RESOURCES CORP (ASPG) As of 28-Nov-2002
Enter symbol:
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ASPEN GROUP RESOURCES CORP Quarterly Income Statement Display Annual Data
More filings for ASPEN GROUP RESOURCES CORP available from EDGAR Online. Get a Free Trial to EDGAR Online Premium
Income Statement Balance Sheet Cash Flow Statement
Period Ending: Jun 30, 2002 Mar 31, 2002 Dec 31, 2001 Sep 30, 2001
Total Revenue $2,393,367 $2,326,158 $1,921,004 $2,332,077
Cost Of Revenue $1,519,676 $1,062,853 $928,677 $719,133
Gross Profit $873,691 $1,263,305 $992,327 $1,612,944
Operating Expenses
Research And Development N/A N/A N/A N/A
Selling General And Administrative Expenses $599,961 $891,737 $920,852 $788,575
Non Recurring N/A N/A N/A N/A
Other Operating Expenses $811,564 $853,769 $662,001 $642,519
Operating Income ($537,834) ($482,201) ($590,526) $181,850
Total Other Income And Expenses Net ($221,082) N/A $21,702 N/A
Earnings Before Interest And Taxes ($758,916) ($482,201) ($568,824) $181,850
Interest Expense $241,263 $201,480 $224,156 $258,290
Income Before Tax ($1,000,179) ($683,681) ($792,980) ($76,440)
Income Tax Expense ($88,427) ($89,076) N/A N/A
Equity Earnings Or Loss Unconsolidated Subsidiary N/A N/A N/A N/A
Minority Interest N/A N/A N/A $222
Net Income From Continuing Operations ($911,752) ($594,605) ($792,980) ($76,218)
Nonrecurring Events
Discontinued Operations N/A N/A N/A N/A
Extraordinary Items N/A N/A N/A N/A
Effect Of Accounting Changes N/A N/A N/A N/A
Other Items N/A N/A N/A N/A
Net Income ($911,752) ($594,605) ($792,980) ($76,218)
Preferred Stock And Other Adjustments N/A N/A N/A N/A
Net Income Applicable To Common Shares ($911,752) ($594,605) ($792,980) ($76,218)
More filings for ASPEN GROUP RESOURCES CORP available from EDGAR Online. Get a Free Trial to EDGAR Online Premium
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STL
Am, we will never clearly know
the details of this mess as these
lawers are well layered.(IMO)
Jack's probably got several private deals
in the works. Most of the players in this
company and Endeavour have interests in
other entities past or present.
We need an independent leader and BOD, enough of these
Brown Shoes workin us!
IMO, STL
Ditto AM, Thanks for all your research!
Happy Thanksgiving everyone, perhaps someone
will Gobble this Turkey of a stock up soon!
Regards, STL
Bugs & Am it stands to reason considering
insiders aren't benefiting via shares at a nickle either.
I bought a chunk at a nickle but will only
add on the way up if managements guidance and
performance meet or exceed expectations....LOL
anyone out there have any idea what that would be.
The downside is still there: IE shareholder lawsuits,
BK or privatization. Management didn't have a problem
driving us to a nickle so their plan may still be unfolding?
Sale of assests could also show some share price appreciation.
JMO, STL
Thanks for the clarification AM
I was under the assumption that we were originally
U.S. based in Oklahoma. Seems we have always been
Canuck, hmm go figure A.
Good to see someone at Aspen is talking to you.
STL
That's funny Bugs!...LOL
Maybe it's jack soft spoken demeaner....
As for accountability, I seriously doubt it, we were screwed
when the F was added to our symbol. That doesn't preclude us from taking action in the U.S.
AM, maybe George DubWa or Tom Delay can assist us as I sit on his Business Advisory Council. Who am I?...lol
BTWY, anyone find it strange that Genoa Communications of Canada was our IR long before we were CANADIAN?
I'll bet your right Bugs scammed from the get go?
The new BOD consists of lagitimate business men? We
need to investigate the players, maybe the FBI needs
to review this company to truley dig up the details.
STL
The BOD is actually giving advise!
Seems certain transactions may be tainted or mis-stated
and new management has an opportunity to rectify
these issues going forward or face owning
them down the road.
Seems pudent given shareholders are locked and loaded!
JMO, STL
First we lost our CFO then our CEO
so who stands accountable for past misrepresentations?
Mercer is the only high ranking left and he has been demoted.
Great post AM, I most certainly purchased Aspen based upon
those assumtions as I'm sure most others did as well. You have to wonder how many shareholders are left after the poor performmance and silent treatment?
I will forward your post to every Aspen email address I can find. It's time these guys come clean!
BTWY do you think we'll ever see production from Canadian assets? Don't forget that gigantic piece of propaganda!
I have never owned a company that has diseminated so may lies.
STL
I fully expect the silence to continue
as management will try to distance themselves
further from the "problem".
A law suit will most likely be the only remedy
to identify the depth of this scam.
We don't stand a chance squeezed between two
corrupt exchanges and a BK sale would put the
finishing touches on this rouge.
IMO of course, STL
Can you say manipulation?
This Canadian article is interesting, funny
how they implicate the OTCBB. We all know
the Canadian exchanges are just as crooked.
Mobsters Infiltrating Markets To "Launder" and "Manipulate"
Crime figures from Russia and other Eastern European countries are primarily using junior companies whose shares trade on the over-the-counter (OTC) bulletin board market in the United States and, to a lesser extent, the TSX Venture Exchange, Ontario Securities Commission enforcement officials said yesterday.
"Organized crime is a growing phenomenon here and everywhere else in the world," OSC enforcement director Michael Watson told reporters in Toronto yesterday.
"It's money laundering, it's market manipulation," said George Gunn, manager of surveillance at the OSC. "Because they own some of these junior companies, there's insider trading going on. Just about everything you can imagine."
Mr. Watson said it is difficult to gauge the extent of organized criminal involvement in Canadian equity markets, but said securities regulators and police investigators continue to find evidence of the problem.
The OSC said it is better equipped than regulators in other jurisdictions to identify mob activities because of a joint intelligence unit established with the RCMP two years ago. The OSC and the RCMP compare their databases to identify suspicious individuals and unusual movements in the markets.
"We've been engaged in fairly intensive activities, as have [the RCMP], in looking for this kind of stuff, and it keeps turning up . . .," he said in an interview yesterday. "We think it's significant enough that we need to try to do something about it."
Michele Paradis, a spokeswoman for the RCMP in Toronto, said the level of organized crime in the markets has grown in recent years, mirroring the increasing number of Canadian investors who were lured to the stock markets by the promise of the high-tech boom. More than 20 Canadians were arrested this summer for money laundering and securities fraud following a three-year undercover sting operation conducted by the RCMP and the Federal Bureau of Investigation.
"Organized crime is insidious, and wherever there is money to be made you can see their tentacles reaching out," she said.
Gerry Halischuk, a vice-president at Market Regulation Services Inc., which monitors trading on Canada's stock exchanges, said he is not seeing any patterns that would suggest money laundering or illegal insider trading is taking place on the Venture Exchange.
"If you want to look for those types of activities that have been taking place for the past year, you'd go down and look at the OTC bulletin board in the United States," he said in an interview.
Steve Wilson, executive director of the British Columbia Securities Commission, also said he does not think organized crime is a big problem in Canadian markets.
"We at this point don't have that on our radar screen, but it doesn't mean it isn't happening," he said.
He pointed out that the Venture Exchange monitors private placement financings done by offshore companies and is required by law to refer any suspicious transactions to the RCMP.
Officials at the TSX Venture Exchange could not be reached.
The OSC said it will take one to two years before it is ready to take formal enforcement action against these criminal players. In the meantime, the regulator is taking steps to stop some of the illicit activities. These actions include refusal to sign off on prospectuses, thus preventing companies with suspected mob ties from raising funds in the equity markets.
"We will use whatever resources are available to us to disrupt the activities of these groups as opposed to just sitting back and just doing a criminal investigation," said Mr. Gunn.
Concerns that Eastern European crime figures were using Canadian companies for some of their illicit activities initially surfaced a few years ago. The most notorious example was YBM Magnex International Inc., a onetime stock market darling with a market value of close to $1-billion that collapsed in 1998 amid allegations it was a front for the Russian mob.
Mr. Watson said stiffer prison terms will help deter some of these illegal activities, although he admitted the OSC rarely prosecutes wrongdoers in the courts.
"There should be more jail sentences for misconduct in the marketplace. I don't think there's sufficient deterrence present right now."
The OSC often chooses not to pursue quasi-criminal charges, Mr. Watson said, in part because provincial courts are not always equipped to deal with the complexities of some securities cases, and in part because they have not always shown a willingness to mete out tough sanctions for securities violations.
IMO It's No mystery why OTCBB companies move to Canada.
He added that he is uncertain whether new securities legislation introduced by the Ontario government last month will make the OSC more willing to prosecute offenders in provincial court.
END
They still answer the phone
but reffer you to Kevin O.
I don't think Kevin has a clue
as to the games being played
or won't say so why waste the
dime. Heck you could buy 2 shares
instead!
The RJ situation gets stranger by the day.
Could these trades be swaps to cover shorts?
STL
Back to the magic nickle.
We have to assume shareholders were mislead or
Calantine would be communicating with us. I
suspect the BOD will blame Jack since he's gone
and they are relatively new to the company, how
convenient!
STL
Raymond James is all sell side.
Looks like someone wants out at .10 Canadian.
STL
I lost all respect for Kent when Kevin
told me he orchastrated the Romarco deal for their cash.
Seemed very "desparate" at the time. Sure Romarco holders
will just let you steal their cash!
Is it possible our Canadian freinds don't have the assets JW
was sold. I am guessing but my gut tells me Notman pushed this deal and he was contracted by Dominick so where would that leave us?
Calentine needs to clean out the closets or get someone who will!
STL
The MM's are holding
us up on NO volume...Hmmm
Seems they know more than us or just
waiting for a few more fish? (sellers and buyers)
AM any idea when our stellar earnings
release may appear?
BTWY your name couldn't be Marsella?...LOL
TIA, STL