Retiring
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've already given you the information. Don't act like you don't know.
Stephen Hicks. Southridge Capital. SEC complaint. Blah, blah, blah.
http://www.sec.gov/cgi-bin/browse-edgar?company=tarpon+bay&owner=exclude&action=getcompany
Like what?
I didn't go telling folks that the PSS deal wasn't in the filings, you did. Lo and behold, it was in the filings.
I didn't tell folks that there wasn't a PPA in the works, you did.
I wasn't the one that said the company doesn't have any operating business, you did. Remember the CMS deal that went through at the beginning of this quarter and you have the gall to say they don't have an operating business.
So big flippin deal I was wrong about the filings, I can't read them as well as others and it's clear you can't either.
So, I suggest you rethink what you just said.
There is a lot of misinformation being desiminated over there by yourself
I beg to differ. I may have been incorrect about one thing but, you telling me that I'm disseminating(correct spelling) misinformation is complete bullshit and a flat out lie.
I'd worry more about funding that $9M in debt and a 4000% increase in the OS on ERFB, if I were you.
Social media does wonders. 50% red come Tuesday, hold onto your shorts!
STLK is headed to Costa Rica, sooner than you think. $300M deal in it's final stages.
I'd be scared too if the OS rose 4000% in 8 months. Pretty scary stuff.
He sure is pumping. The company is clearly upside down in debt and they need money. What a better way to do it than to have a CC and talk about acquisitions and multimillion dollar asset sales and let the shareholders fund it? Sounds more like a fire sale to me.
Because of the CEO pumping "acquisitions" and "multi-million dollar sale".
Dreams turned to dust here. Monstrous amount of debt about to be paid by the shareholders. Good luck with that!
Numbers don't add up right. ???
Yes, STLK is alot less trouble than others.
Then how can the convertibles only increase 57,500 if two notes valued at 65K were added?
Any debt is unfavorable. Especially if it's $9M, that's just a disgusting amount of debt if you ask me. At least STLK is about 90% lower.
I have yet to see any kind of non-toxic lending in the OTC.
The revenues are about to start flowing. PPA in it's final stages.
Major correction here on Tuesday. Overvalued POS. $9M in debt that the shareholders will fund. Good luck with that!!
Notes for old debt. Does that sound new to you?
How does that prove anybody right or wrong? "Appears to be" is not definitive in any way, shape, or form.
"I have not looked at the previous filings"...
Yeah, I'm sure the company was "called out" and that's why they corrected it. Wow, the fantasies some have.
PPA still in play, land is set aside, binding LOI to connect, in it's final stages of completion.
Nobody knows if there are currently any revenues because PSS was started after the last quarter.
Old debt is not new, in any classroom.
Shareholders will certainly pay the debt that ERFB has. Clearly they don't have the assets to cover it. Massive dilution headed this way. Watch out below!!
It's the same debt that has been in the filings. It is not new by any means. Everyone knew, except for you apparently, that it was coming. Still can't convince me that old debt is somehow new. Besides, you weren't given a definitive answer. "Appears to be" is not.
The issue is, the company has had that debt since its inception. It's not new, it has to be settled as part of the settlement agreement between Tarpon and STLK(8-K below). The other poster is assuming the company has borrowed more money and those are the notes in question. It's clearly false, imo. The debt was just moved from one section to another in the filings.
http://www.sec.gov/Archives/edgar/data/1569055/000149315214000834/0001493152-14-000834-index.htm
In March of 2008, the Company entered into an asset purchase agreement to purchase certain tangible and intangible assets for $65,000 in STLK common stock. As of June 30, 2014 and December 31, 2013, a liability totaling $0 and $43,333 respectively, exists related to these unissued shares. This liability was acquired in the merger. In coordination with Section 3(a)(10) of the Securities Act of 1933, stated by the Circuit Court of the Second Judicial Circuit in Florida, the Company agreed to pay for this debt and therefore moved this debt from the Liability to be Settled in Stock to a Settlement Liability
The $65,000 liability listed above equals the two notes (32,500 ~ 32,500)
This is 6 year old debt. Not really new.
Most of the notes are owed to the BOD.
In your own words... let's here what other knowledgable folks have to say.
The debt was already there and in the filings.
Wow!!! Pretty disgusting to think the OS went up about 4000% in 8 months?!?!
Issued and outstanding at June 30, 2014 and December 31, 2013, 4,335,115 and 111,633 shares, respectively
http://www.sec.gov/Archives/edgar/data/1020646/000101968714003275/erf_10qa-063014.htm
To be a little more clear, the poster failed to mention this part in the last Q...
In March of 2008, the Company entered into an asset purchase agreement to purchase certain tangible and intangible assets for $65,000 in STLK common stock. As of June 30, 2014 and December 31, 2013, a liability totaling $0 and $43,333 respectively, exists related to these unissued shares. This liability was acquired in the merger. In coordination with Section 3(a)(10) of the Securities Act of 1933, stated by the Circuit Court of the Second Judicial Circuit in Florida, the Company agreed to pay for this debt and therefore moved this debt from the Liability to be Settled in Stock to a Settlement Liability
The alleged two new notes is actually 6 year old debt.
Total current assets ~ 1,401 (in thousands)
Do you think they're going to sell their equipment or properties? Didn't they say they were going to sell non-core assets? Wouldn't equipment and properties be considered core assets?
Regardless, they don't have enough assets to sell to pay off all the debt they've accumilated. Nobody is going pay ten times what the assets are worth.
ERF claims to have paid off all their convertibles back in 2010 now they're upside down in debt again?
Just look at all the DD I have contributed to this board today !!
You mean someone elses DD, not yours. Got anything original or are we going to continue using other peoples work?
Maybe you should blow the whistle on them... http://www.sec.gov/whistleblower
Boasting about acquisitions and multi-million dollar transactions involving assets that are only valued at a combined 1.4M during a CC is one form of pumping. Sounds like a bunch of bull to me.
Do they plan on selling assets at ten times their actual value?
Misleading and intentionally inaccurate information will always be corrected.
I hear that!! Like... new 6 year old debt, or no PPA process, or alleging that the company has falsified or left out info in their SEC filings or even garbage that the company doesn't have an operating business.
Stuff like that sure is misleading, disingenuous garbage. Folks should be made aware how inaccurate it is.
Fantasies about turning old debt into new isn't reality either. But, we still hear about it.
If it isn't paid by the maturity date. Which is when? Next year.
It was previous debt. PERIOD.
Do my DD? I have and it's in the filings. Read it....
From and after the consummation of the Merger on February 4, 2013 STL Marketing Group, Inc.’s primary operations consisted of the business and operations of Versant Corporation.
http://www.sec.gov/Archives/edgar/data/1569055/000149315214002670/form10qa.htm
Can the company pay off their own notes? Answer the question, yes or no.
Exactly, as I said, the debt that was acquired in the meerger.