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I remember from the last conf. call when he talked about the dillution, which he was upfront about, he said they would not hurt the shareholders (I forget the exact wording), but apparantly that was lip service.
You would think, though, that PPS would matter in terms of making the stock attractive especially when they compensate employers and debtors with the stock.
Questions I sent Gerard:
1 - Dillution - the dillution strategy has been rediculous and has killed the PPS, why was the strategy not implemented in a way that would have minimized the impact on the shareholders as was promised by Todd. We understand capital has to be raised, but the price was driven into the ground and the company therefore only raised minimal capital.
2 - I hope the financials will be done prior to the conf. call or it will really hurt the credibility of the call, but if not, when will the financials be done?
3 - Who is on the Executive Team and who are the Board of Directors: this information should be on the website which, by the way, is at an all time low for information.
4 - Projects - we need to know information on each well including (the State, County, Lease#, and who the Operator is) and would like an update on each project including: Tuscaloosa Marine Shale, Jones County Tx, North Texas Black Shale, JY well, M.M. Cobb, Reasmes/Masterson, Lucy Lee & Mina Travis, and Project 1 with PDGO in Haskell county.
Each of the above projects were supposed to be undeway for production. The Jones County Tannerhill field was supposed to "increase oil production immediately". The North Texas Black Shale - was supposed to have a "full functioning staff on the ground by the end of March 2013". We are not seeing the results from these promises.
5 - What is the plan for improved communication with the shareholders (website, blogs...etc)
Any guess when updates should come?
Production YTD through March on the Perry #1 well is 184 BBL.
I updated the board every month from the RRC
The other 2 Perry leases are zero.
The Operator is HCE.
I forget how to check the Lucy Lee lease.
My 2 cents:
- I don't ever remember the words "Fully Dillute", Todd had said they would need to dillute as needed with the hope of minimal shareholder impact. But so much for that because the dillution has killed us.
- The downgrade will be reveresed once the 10Q is complete. Gerardaddressed that with us via email last week.
- I thought the Q&A section was helpful and should have been maintained. I would like to see Gerard continue to update that or the Blog that they were doing for a while. Fresh information would be key to letting this run.
Lets wait for the conf. call. You have to give Danos a few months for Gods sake. As frustrating as it is for those of us that have been around for a long time, management changes is not unique to LHPT, but it drags out production painfully.
LOL Can't imagine how he got involved with that POS. I have a couple of items I don't list on my resume either.
Gerard Danos from businessweek.com
Mr. Gerard Danos has been the President of Lighthouse Petroleum, Inc. since April 2013. Mr. Danos served as the Chief Executive Officer and President at Green Energy Live, Inc., from January 2011 to February 2, 2011. He has a breadth of skills and knowledge in building and growing companies. He served as the Chief Operating Officer and Corporate Secretary of Treaty Energy Corporation from May 2010 to January 2011 and since March 2010, respectively. He served as Vice President of Treaty Energy Corporation. He worked in an advisory capacity to Treaty Energy from 2008 to 2010. He was the Owner/Principal at St. Catherine's Hospice LLC from 2005 to 2008, where he helped guide it from a startup company to one of the region's leading hospice providers. Prior to this, he served as Vice President/Director of Medico LLC, a subsidiary of Magnolia Management Corporation from 2006 to 2007. He served as a Director of Treaty Energy Corporation since May 2010 until January 2011. He has been a Private Investor for more than eight years. Mr. Danos received his Bachelor's Degree from Louisiana State University, Baton Rouge, LA.
Where is MAXM on the bid?
Easy for you to say. Keep in mind during this quarter, managment changed. Who knows how far behind they were when Gerard took over? Or what shape the books were in? Or maybe he didn't like this firm and wanted to change it. Could be many different things.
Bottom line he's on it, and it shouldn't happen again.
I heard back from Danos, and the 10Q will be out soon. As I expected, as the new president he's working with new accountants and auditors. So it was delayed. Once they are filed we will be Pink-Current again.
Didnt give me an eta, but we have to cut him some slack being so new to the position.
I'm still looking forward to the conf. call.
New to this board.
Has management announced they intend to file financials and get current or is that "limited" sign going to be around for a long time?
I don't see any paid promos, does anyone?
April 24th was a good day. Is this going to bounce? I feel late to the party here.
FYI there was a 500k trade after hours at .0009
Let us know what you find. especially on the president Danos. We don't have a lot of information on him.
As for Todd, the CEO, I think you will find a mixed bag of news. I have been a shareholder with LHPT for a long time and PDGO for over a year. I think he has transformed both companies. They have new management and improved financials (especially LHPT) who formerly had been loaded with toxic debt, and he's increased assets and created strategic plans.
But, at the end of the day I have yet to see serious execution of the planss that result in oil or gas production. They seem to get as far as JVs, leases, and the hiring of people, but then there is a change of direction or an unforseen issue with the implementation. Mr. Danos asid he wants to focus on the "execution" in his PR the other day announcing the conf. call. So we will have to wait and see.
Jump back in. Still a good time.
11s getting chipped away. People who buy the next 3 million won't get these prices again!
No MM BS today!
That million has been there on the bid all day at .001, and they are not dipping down to it. Good sign
They never said there wouldn't be. They have always been honest about that. Why would they be public if they were not going to raise capital?
Thatafe Harbor statement is pretty standard for a Pink, and not that different from the latest 3D eye solutions statment that you like:
"Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results."
Now that Danos is on board LHPT should remove the phrase "without the expertise" from their PRs. IMO
We've come back from the grave before!
SLAP THE ASK like I did yesterday.
and slap the bag while you're at it. LHPT!
Bruins!
Awesome. Getting back up to .002+ before the call would give us something to work with.
And if they have awesome news followed by timely PRs and God-forbid a production report - we will be back up to .01-.02!
I can't see LII today, where are the MMs at?
When we blow throught that 4mil, we could be on a run!
Lets get some eyeballs back on this. This should run pre-conf. call.
I'm assuming that's in response to them not releasing their quarterly in a timely manner. Hopefully they get that resolved ASAP.
Nonetheless. Future is bright for LHPT. Cheap shares to eb bought over the next week or 2.
This could turn into a nice week.
No T trades that I can see.
Overall good day. Need some eyes now to give this thing some momentum.
As painfully slow as this process has been over the past 2 years you can't deny that the company is in far better shape, thanks to Todd.
If Mr. Danos knows what he's doing, and we think he does, this company could have a great second half of 2013. And really be in a good position for next year.
As traders we don't like to think in big time frames like that, but that is the kind of company I believe this to be.
Meanwhile a good conf. call coupled with the release of the 10Q and a few production PRs over the next couple of months and we will be North of a penny again!
It will be hard to hold once it gets up to .005; but some will be greatly rewarded.
Right in the PR it discusses debt reduction:
During the call, management will discuss recent corporate developments, oil production, debt reduction, status of current leases, and the overall direction of the Company.
Where does it say they will continue to dillute?
Can't wait for the conference call! LHPT!
They are chewing through them!
Wished I had the funds avaialble when it was 007. Didn't make it a priority cause I thought it might go lower.
Wished I had the funds avaialble when it was 007. Didn't make it a priority cause I thought it might go lower.
I emailed Todd last week, but apparantly my tone was too harsh, I haven't heard back.
Frustrated as well.
Do I even dare average down yet again?! Chaseing bad money with good is not a wise move I know, but the only thing that would kill me would be an RS.
Doesn't look like it. Maybe we have bottomed out.
They really didn't dip into the 7s like I thought they would.
Makes sense thanks for clarifying. It obviously wasn't 3/31 as was suggested.
Oil production for Perry in March was 62 BBL.
HCE is still listed as the Operator.
Nothing at the other Perry wells.
I didn't check LA.
Quarterly reports are typically due by the end of the month following the quarter end. So this report was due April 30, for quarter ending March 31.
How can a report that is 'as of' March 31 be due in March? Doesn't make sense.
Looking forward to the new president's first PR. Should get a feel for where we are going. Should be coming out soon.