Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I know he's been reducing overhead. Let go of the CFO and one Director, shut down the AR office, shut down ESP FPS, stopped funding their environmental division, and the law suit last year has been settled.
I'm waiting on an update from Dugas first before I decide to buy some more. I grabbed a lot at .035 so it would average me down a little to get some more. Just not completely confident where the company is headed.
Seems to be holding up in the 2's. I'm guessing pretty much everyone is out.
I'll update you as soon as I hear something new and relevant.
Only way I see that happening is if the company stops issuing warrents to vendors AND if the company becomes profitable.
Updated discussion thread with Neil. Haven't received any new information but appears we should hear some form of communication soon.
Ok, thx.
Did all of them go thru? Who was the MM bidding?
I'm thinking we will hear something next week.
Cool. I'll be in CC for a wedding in October.
If you pull up Google Maps and zero in on the Eagle Ford region its crazy to see all the drilling platts. Tons of them.
Sure is! Big deer and big oil!
Where abouts in South Texas are you?
Appreciate your help.
Not so great. Trying to get a hold of Dugas to issue an update. Any new info you have please send it our way.
Neil just responded. Here is the email thread:
Neil's job is to handle investor relations. If he doesn't like us antagonizing him to get answers from management, he should quit his job.
No. I just sent them an email asking for an update and added that I will continue to ask for one every day until one is released.
You mean, Dum"ass"? ha
Wow.... no volume.
EVERYONE send David and Neil an email demanding an update! Keep sending emails until they respond.
david.dugas@espchem.com
nreithinger@eventusag.com
What an exciting day! At least we haven't gone down.... yet.
No more bid at 2. Down to .015
Another email sent to Neil and David:
No I didn't. The bid/ask got interesting late yesterday. Now bid is sitting at .0375. Wonder if it holds here. Is the 800k still showing on the L2?
I'm trying to remain hopeful with these comments:
I think they need to focus on making their bread and butter profitable before they decide to open all these divisions. Dugas is getting ahead of himself.
Thanks for uploading the pics. I guess we should take down the ESP FPS picture? Sorry about that.
No worries, thanks.
Also, the company that built the office ESP FPS currently occupies got back to me. They said they don't know whether the company is still in business but did say they were moving out of the office/facility.
Did you receive my email with the pictures?
Shoot me an email and I'll forward them to you. cjlevay@yahoo.com. I think we've exchanged emails before but don't remember
I'll get back on later today and try to post. Gotta run out real quick.
I just see "Copy". Is copy image in "Properties"?
Wow... I'm an idiot with this.
I have a picture of the ESP FPS office and a picture of one of the ESP chemical service trucks. Just trying to figure out how to copy the full URL address so I can post. When I right click on the picture and go to "Properties" it only gives me part of the address. Know how to do this?
I understand. Thank you for the info.
Worth a shot.
Check this out. Go to this link, third picture down.
http://rahhomes.net/commercial
I'm going to email this company and ask if ESP FPS is still in business.
Check this out. Go to this link, third picture down.
http://rahhomes.net/commercial
I'm going to email this company and ask if ESP FPS is still in business.
My take on the plan they should implement:
- Close down any locations that are buring more cash than they're producing (AR office). Liquidate any fixed assets and use those proceeds to reduce current debt.
- Reduce overhead where it makes sense (back office staff).
- Close down foreign locations (reduce travel and office rent cost).
- Focus on expanding domestically thru existing customer relationships. Expand services to North Dakota (Barnett Shale) and W. Virgina/ Pennsylvania (Marcellus Shale).
- Focus on expanding the Facility and Pipeline Services Division by leverage existing customer relationships with ESP Petrochemicals (ie service Exxon refineries and pipelines). Start with small customer base, then grow from there.
- Allow the volume of business to determine the rate of growth. We've seen in the past they've tried to overextend by opened offices in Dubai and Papua New Guinea. These are investments that have burned through cash but have not materialized.
This would be a start...
Sure. Suppliers (in this case the raw chemical suppliers) that do not get paid by the customers (ESP) can do a couple of things. They can hold shipment on orders already placed, refuse to accept additional orders until payment on previous invoices are made, and/or reduce their credit limits. Any of these can have a negative affect on the customers business.