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offering them some more at .17 /em
unbelievable ... i just gave them some of my .017 cent shares at .115 and they raised the ask to .15 ...lol
Lazarus
another interesting note on PSCO...
the MMs are lined up at .06 with AAWC aheat of them at .075 [along with BAMM and WEIN]
thats Andrew, Alexander, Wise & Company which is the company's investment banker. they are bidding to buy... BUT NOT OFFERING.
Lazarus
same with PSCO ...
PSCO could be an interesting play if they complete their merger with P2i [ http://www.p2ionline.com ]
the president of P2i has become the CEO of PSCO and it appears from the filings that he is intent on getting the deal done.
a lot of MMs lined up at .06
Lazarus
GOLD OVER $400 - /em
GOLD UP $5.70...
http://www.kitco.com/
amazed at the moves some of the pink sheet stocks have made. here is one that i missed and dont own.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=wtsw&sid=0&o_symb=wtsw
unfriggin real.
Lazarus
like XSNX -- ugly!
....z z z z z z z z z z z z z z z....
lol...wonder if they are going to show any prints...
on SPND @ .75
or if the mms just moved out of the way figgerin they will get more for their shares later.
Lazarus
compare FLWE with SPND ...
THERE IS NO COMPARISON ...lol
FLWE has 331k cash while SPND has nearly 3 million
FLWE has negative asset value while SPND has 3.9 million
FLWE has no revenues ... whilc SPND had over 1 million in revs last quarter and showed and EPS of 6 cents
BOTTOM LINE THAT POS IS PROPPED.
Lazarus
compare FLWE with SPND ...
compare FLWE with SPND ...
SPND showed great earnings...
and i bot at .55 last week.
today the mms lift the bid but lower the offer.
im going for another 5k at .50 and holding long term.
i anticipate future revenues and earnings are going to sparkle.... all they have to do is keep pumping that oil and gas. if they pump another million dollars worth of oil and gas this quarter they will probably show another 6 cents eps.
Lazarus
not too suprisingly the OTC penny plays...
...with good earnings are slow to respond. many of them will....given time and continued positive performance quarter over quarter.
but right now ... most penny players are more interested in the sizzle than the steak.
value players with patience will likely be handsomely rewarded in the future though.
Lazarus
i have made 6 figures off of that POS in the past...
...not in now though.
Lazarys
the heavens declare the glory of God,
the firmament his handiwork.
Lazarus
yes - shareholder equity increase over 30% in the last year and earnings are up about 300%
lousy spread because the float is only around 1 million shares.
Lazarus
FRUSTRATING~~~~~~
i was bidding for some SPND all day yesterday based upon the late Q filing that said:
Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by
the earnings statements to be included in the subject report or portion
thereof? [X] YES [ ] NO
If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
Net income for the three and nine months ended September 30, 2003, is
anticipated to be greater than that reported for the three and nine months
ended September 20, 2002. At the date of the filing of this report, the
magnitude of the increase is not known as all of the data from the
subsidiaries and acquisitions has not been posted. The increase in net
income from 2002 to 2003 will be due to higher product prices for both oil
and gas, as well as additional production from newly acquired and operated
oil and gas prices.
SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
As of
--------------------------
September 30 December 31
2003 2002
(Unaudited)
----------- -----------
ASSETS
Current Assets
Cash $ 2,837,000 $ 2,046,000
Accounts receivable, trade 629,000 274,000
Accounts receivable, other 638,000 -
Prepaid income tax - 109,000
----------- -----------
Total Current Assets 4,104,000 2,429,000
----------- -----------
Property and Equipment, at cost
Oil and gas properties (full cost method) 3,818,000 3,936,000
Rental equipment 399,000 399,000
Gas gathering systems 145,000 145,000
Other property and equipment 85,000 85,000
----------- -----------
4,447,000 4,565,000
Accumulated depreciation and amortization (3,396,000) (3,230,000)
----------- -----------
Total Property and Equipment, net 1,051,000 1,335,000
----------- -----------
Other Assets 2,000 -
----------- -----------
Total Assets $ 5,157,000 $ 3,764,000
=========== ===========
The accompanying notes are an integral part of these statements.
SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS - (Continued)
As of
--------------------------
September 30 December 31
2003 2002
(Unaudited)
----------- -----------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts payable and accrued liabilities $ 801,000 $ 414,000
Notes payable, related party - 42,000
Income Tax Payable 177,000 -
Tax savings benefit payable 97,000 97,000
----------- -----------
Total current liabilities 1,075,000 553,000
----------- -----------
Deferred income tax payable 179,000 179,000
----------- -----------
Shareholders' Equity
Common stock, $.01 par value; 100,000,000
Shares authorized; 7,677,471 shares
issued and outstanding at September 30, 2003
and 7,582,471 shares issued and outstanding
at December 31, 2002. 103,334 shares of
Treasury Stock at September 30, 2003 and
December 31, 2002 77,000 76,000
Additional paid-in capital 796,000 776,000
Treasury Stock (18,000) (18,000)
Retained earnings 3,048,000 2,198,000
----------- -----------
Total Shareholders' Equity 3,903,000 3,032,000
----------- -----------
Total Liabilities and Shareholders' Equity $ 5,157,000 $ 3,764,000
=========== ===========
The accompanying notes are an integral part of these statements.
SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(Unaudited)
Nine Months Ended Three Months Ended
September 30, September 30,
---------------------- ----------------------
2003 2002 2003 2002
---------- ---------- ---------- ----------
Revenues
Oil and gas revenue $2,368,000 $1,278,000 $1,066,000 $ 475,000
Revenue from lease
Operations 61,000 30,000 24,000 13,000
Gas gathering, compression
and Equipment rental 97,000 132,000 26,000 46,000
Interest income 84,000 61,000 30,000 26,000
Other 3,000 15,000 - 12,000
---------- ---------- ---------- ----------
Total Revenue 2,613,000 1,516,000 1,146,000 572,000
---------- ---------- ---------- ----------
Expenses
Lease operations 920,000 563,000 393,000 163,000
Pipeline and rental
Operations 21,000 21,000 5,000 10,000
Depreciation and
Amortization 166,000 115,000 34,000 44,000
General and administrative 367,000 347,000 115,000 107,000
Interest expense 2,000 10,000 - 6,000
---------- ---------- ---------- ----------
Total Expenses 1,476,000 1,056,000 547,000 330,000
---------- ---------- ---------- ----------
Income Before Income Tax 1,137,000 460,000 599,000 242,000
---------- ---------- ---------- ----------
Current tax provision 287,000 122,000 133,000 66,000
Deferred tax provision - - - -
---------- ---------- ---------- ----------
287,000 122,000 133,000 66,000
---------- ---------- ---------- ----------
Net Income $ 850,000 $ 338,000 $ 446,000 $ 176,000
========== ========== ========== ==========
Earnings per Share
of Common Stock
Basic $ 0.11 $ 0.04 $ 0.06 $ 0.02
========== ========== ========== ==========
Diluted $ 0.11 $ 0.04 $ 0.06 $ 0.02
========== ========== ========== ==========
Weighted Average Shares
Outstanding 7,627,471 7,557,819 7,670,623 7,620,804
========== ========== ========== ==========
Diluted Shares
Outstanding 7,751,097 7,557,819 7,752,471 7,620,804
========== ========== ========== ==========
Lazarus
oh - and yes i went in at the ask for 5k at .55 and am bidding 2500 at .50
bot some SIBM ....
a pinky but fully reporting
and it has the magic word:
SILVER
Lazarus
GOLD HITS $400.00 PER OZ ...
http://www.kitco.com
THMG is a speculators stock. imo though - it has all the right stuff to make a home run. just gotta be patient.
i think the bull market in gold is just beginning.
Lazarus
looks like a little more accumulation going on with THMG.
good to see the avg trading price over .18
Lazarus
anybody here notice the filings on WSTD???
Lazarus
shawn - did you read the latest filings on WSTD???
president of the company clark [who is 86, and the 3rd largest shareholder] and his wife just sold their shares to lopez - vice president of the company - for .29 per share
obviously insiders think the company is worth more than a nickle...lol
http://www.sec.gov/Archives/edgar/data/106318/000010631803000005/xslF345X02/primary_doc.xml
http://www.sec.gov/Archives/edgar/data/106318/000010631803000007/xslF345X02/primary_doc.xml
Lazarus
gold hit a high on the ask 20 cents shy of 400!...
http://www.kitco.com
Lazarus
gold $398.40 /em
looky here...
http://www.stockta.com/cgi-bin/analysis.pl?symb=THMG&num1=1&cobrand=&mode=stock
while there is confirmed resistance between .18 and .20 -- i believe that once the stock breaks through 20 cents and is able to hold.... THERE IS NO CEILING LEFT!
take a look at this chart on another penny gold...
http://finance.yahoo.com/q/bc?s=CGHI.OB&t=1y
YEOW!
Lazarus
Spindletop actually trading! ....
SPND
http://www.sec.gov/Archives/edgar/data/867038/000086703803000013/sog10q2003q2.txt
Lazarus
check out this chart on centurion gold...
http://finance.yahoo.com/q/bc?s=CGHI.OB&t=1y&l=on&z=m&q=l&c=
sweet eh?
Lazarus
yeow!
nuther 1
ut THMG
you might look into the preferreds on TEVE...
i noticed they have conversion value of over $5,000,000
i would want to know if they were convertible to common to get the "fully diluted" picture.
Lazarus
sammy -- the only problem i see it that insiders own about 40% and another trust has 18% that leans to the current insiders.
if i could somehow get a majority of the shareholders to agree to buyout it would seriously be worth considering....but i dont think a controlling interest could be obtained.
you're right though --- they have enuf revenues and profit to pay out of the company cookie jar.
Lazarus
SHSH -- little mining pinky moving up on news....
i look for THMG to do the same one day.
i like to hold THUNDERMOUNTAIN GOLD
Lazarus
http:/www.thundermountaingold.com
im still holding shares of LITS from 3 cents...
and for what it worth i am holding shares of WSTD from .015 and havent sold any --- not even offering part of them at .06 [4 X my money]
Lazarus
it's a hoot... it kind of reminds me of LITS...
the former CEO and majority shareholder : Eskil Anderson --- is around 83 and finally let others buy him out.
hope to see the same here.
Lazarus
a typical mm bluff....
the OS is under 10 million
the officers and directors own around 40%
i remember reading in the filings that there is something like 3400 shareholders. divided the 6 million float by that and the avg shareholder has less than 2k shares.
the guy running the show is 85 and - imo - that is why the stock is suppressed. he has made no effort to increase shareholder value or interest in the stock.
the employees at the company dont even know that the company is publicly traded!
Lazarus
added some more Thunder this a.m. myself /em
yeow ... too funny...
the minute i get off the phone with the transfer agent for WSTD to confirm that the OS is only 9,965,016 the stock rachets up from 3 cents to a dime???? i just wanted to confirm that nothing had changed before i put in for more.
somebody beat me to it.
i could not believe a market cap of 150k at bid on a stock that is making $$$ and has around 10 million per year in revenues.
Lazarus
i have been told that if you are a shareholder and call ahead of time -- you may get some special treatment.
http://www.snowking.com