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.
As would I. Please, repost your brothers findings.
Sold all of my holding into massive volume today. That was one big bullet to bite, but the tax write-off is gonna be sweet. That's putting a shine on a rotten apple.
Should I splurge and go buy a burger or just go buy some hamburgeer and cook it myself?
Should have sold back when it was $3 or even $1 but ...
Oh, yeah, I didn't have my NAGP shares back then.
I was wondering why the interim financing plan had been taken off the sticky notes. Duh!
Another plan which did not happen. According to the March 10 PR, the proceeds were to finance audited financial statements expected completion date April 30.
Since there have been no further announcements from the company,
Shining_star, as a supporter and one who, apparently, is on good terms with management, do you have any information you would share with the rest of us as to the dispostion of said audited financials or other stated goals of the PR? Which firm was hired to perform the audit? When does management now anticipate a form 10 or S-1 to be filed with the SEC?
Does the lack of results on a stated time table have anything to do with the currest trading status of the stock?
NAEG Signs Interim Financing Credit Agreement
for Completion of Audits and SEC Registration
FOREST HILLS, NY, Mar 10, 2010 (MARKETWIRE via COMTEX) -- Native American Energy Group, Inc. (PINKSHEETS: NAGP) ("NAEG" or the "Company") announced today its execution of a credit agreement with a private finance group which provides an initial credit line of up to USD$500,000 to the Company. The credit line commitment has been secured by 250,000 restricted common shares of the Company.
The proceeds from the credit line will be used to:
1. Complete the Company's 2-year financial statement audits in accordance
with PCAOB standards. (Completion is expected by April 30, 2010.)
2. File a Registration Statement with SEC (form-10 or S-1).
3. Provide general working capital.
The Company expects that borrowings under the line of credit will be repaid primarily with proceeds from further financing arrangements the Company intends to close in connection with the development of its energy projects. Under the agreement, advances to NAEG are subject to the final approval of the lender and accrue interest at the rate of 10% per annum.
Since recently receiving its bona-fide status as an OTC Pink Sheet Company and achieving its "CURRENT INFORMATION STATUS," the Company has begun actively pursuing financial partners to fund development of its energy projects in Montana & Alaska and its wind energy initiative for New York City and Indian reservations throughout the United States. PCAOB registered auditors are completing audits of the Company's 2008 and 2009 financial statements. By May 15th, NAEG intends to file either a Form-10 prior to the consummation of a funding arrangement or an S-1 Registration Statement with the Securities & Exchange Commission as part of a funding arrangement.
"We're pleased that obtaining 'Current Information Status' has given us the results we were hoping to achieve; having received this interim line of credit, immediately, simply validates that," said Raj Nanvaan, Native American Energy Group's Chief Financial Officer. "This line of credit will allow us to handle the immediate expenses related to our financial statement audits, currently underway, as well as the filing of our registration statement with the SEC to become a reporting public company and to advance to the OTC Bulletin Board. Such advancement will allow for upper tier funding prospects, additional transparency and a more liquid trading market for our stockholders."
Thanks, oneman. that was the site I had gone to from Google, previously. oops, my bad. typed in windaus.com in the bar and there we go.
Have a good long weekend, everyone.
Not the point I was making but the same way I was thinking. Alt energy is years away. The only money in alt energy is from FED sources, at this point. No private funding can justify the lack of ROI. Glad to hear from experience. Thanks.
Your mention of Windaus made me revisit their site. You would be interested to see, also:
http://windaus.com/
I don't think it was a question of talking NAEG into anything. I think it was the other way around and I wonder why Windaus would want to tie themselves to NAEG (except for maybe 20,000,000 shares).
I must disagree with "good deal" unless you are actually expecting NAEG to start the manufacture and marketing of the Windaus turbines. In my opinion, this was just another of the fluff PR we have seen many times before. great idea but ...
the devil is in the details, as the saying goes. Retail price of "home" size wind turbines run $200 to $500. the 6 foot version of Windaus only generates enough electicity to run a couple of appliances, maybe. The 15 footer does better but still only a fraction of household needs. This is generally true for all wind generators. It would take an array (6 to 12 costing from $1200 to $6000 plus install cost) of turbines to power a house on a consistent basis. oh yeah, the wind has to be blowing, also. the homeowner is still connected to the electrical utility to guarantee electrical service.
the connection to the utility means additional equipment to "manage" the electrical flow to allow the wind turbine or the electrical grid to supply to supply the home. this is a one-time cost to the owner that can run $2000 or more.
I could go on.
do you really expect Raj, Joe, et.al. to jump on this and make it pay off? But the PR did sound good. It hits all the right notes: green, save the planet, Bloomberg, New York City. Can't you jus see it now? Every building in NYC covered in Windaus turbines? NOT
oneman, I think you know better.
Just my opinion/guess but setting up a line of credit does not equal using the line of credit. If they never draw or draw very little from the line of credit, we would never hear about the bank revoking the LoC or cancelling it for non-use.
Any documents filed with SEC per the reporting requirements are posted/available for public review. From that, I believe the audited financial will not appear any time soon. Filing a form10 or an s1 will be delayed until trading is suspended or close to it. Do pinkies get an "E" when they are late? when are the next financial reports going to come out of NAEG?
Now, I know where my shares went. Windaus turbin deal. 20 million shares makes Windaus a "full" partner in this scam, doesn't it?
ask a simple question and get deleted.
http://www1.eere.energy.gov/consumer/tips/appliances.html
What's a kilowatt?
When you use electricity to cook a pot of rice for 1 hour, you use 1000 watt-hours of electricity! One thousand watt-hours equals 1 kilowatt-hour, or 1 kWh. Your utility bill usually shows what you are charged for the kilowatt-hours you use. The average residential rate is 9.4 cents per kWh. A typical U.S. household consumes about 11,000 kWh per year, costing an average of $1,034 annually.
let me re-phrase. does NAGP have any plans to actually manufacture and sell any of the Windhaus turbines? what would be the retail price of the 6 foot turbine or the 15 foot turbine? just ball park figures would be fine
there is always some truth in every story. these guys are especially good with their concoctions. the MATL deal sounds sweet, lots of good potential there for wind energy generation, right?
then you have the tie in with "exclusive rights" to sell, manufacture, etc. sounds really good, right?
vertical format wind turbines have proven to work well for residential and small commercial applications, producing occasional energy "credits" with the electrical utility providing the primary electrical service.
oh, yeah.... deals like MATL are done years in advance of the construction. the energy producers wanting to tie in to MATL are already signed and sealed, so the capacity has already been contracted for in advance. doubt any of those guys would even talk to NAGP, much less, play in their ballpark.
IMHO, of course.
At least, MATL is for real but it appears anyone wishing to participate is already in line. NAGP is not mentioned.
http://www.matl.ca/documents/2009/project/press/articles_pdf/2009-12-01%20(Great%20Falls%20Tribune)%20-%20Leaders%20celebrate%20start%20of%20MATL%20work.pdf
"MATL will connect the electrical grids of the United States at Great Falls and Canada at Lethbridge,
providing access to the power grid of up to $1 billion in wind power projects planned by three wind
developers that have reserved space on the line.
NaturEner already has announced plans to construct an $800 million wind farm north of Highway 2 in
Montana.
Rocky Mountain Contractors Inc. in Helena, a subsidiary of Bismarck-based MDU Resources Group,
has been hired as the job's general contractor, it was announced at the ceremony.
"This is a big project," said Greg Darkenwald, senior project manager for the company.
It's been 20 years since a transmission line of this size has been constructed in Montana, he said. If
the work goes as scheduled, the line with be "energized" in 18 months, in 2011, he said."
I would like the pump to work. I'd like to sell my pitiful few and, at least, cover the transaction fee plus the mandatory $20 for the "reorganization".
Would not cover the cost of the sale at this level.
I hate to be one of the bagholders from NVMG, but wouldn't it really suck to have bought $15K of NAGP today?
LOL, onemaninnj, you must remember the earth is flat. you won't get a reasonable statement, much less a reasonable argument, out of shiney
Shine on, shiney, shine on.
Item VI: The number of shares or total amount of the securities
outstanding for each class of securities authorized.
12/31/2007 12/31/2008 12/31/2009
Number of Shares Authorized – Common 50,000,000 50,000,000 1,000,000,000
Number of Shares Issued – Common 694,878 3,107,607 11,002,323
Freely Tradable Shares – Common 2,844,610 2,844,461 910,853
Number of Shares Authorized – Preferred -0- -0- 1,000,000
Number of Shares Issued – Preferred -0- -0- 500,000
Total Beneficial Shareholders - Common 536 536 1584
Total Shareholders of Record - Common 536 536 1584
Native American Energy Group, Inc. (NAEG)
Initial Company Information & Disclosure Statement
December 31, 2009
4
Part C: Business Information
Item VII: Name and address of Transfer Agent
Name: Pacific Stock Transfer Co.
Address: 4045 South Spencer Street, Suite 403, Las Vegas, NV 89119
Tel: (702) 361-3033
Registered under the Exchange Act: Yes
Regulatory Authority: Securities & Exchange Commission
How does Pacific Stock Transfer fit into this puzzle?
gee, is that a change of tone?
umm, yes, TDA said similar. they have had way more than a little time, already.
ditto, from TDAmeritrade. these transfers/name change/reverse splits ( or however you want to categorize this situation ).
According to broker, the onus is on the initiating entity to follow thru with all the details.
I'm guessing that some one "forgot" to tell the transfer agent what had been done. "Was I supposed to do that? Oh, I am so sorry" or "It's the transfer agent fault. They were told to follow thru but didn't" or figure out your own version of an excuse that will be used.
Any way, we're dead in the water until our NVMG shares get converted, and, I imagine< that just the way Raj and Joe like it.
JMHO
Yes, and your point is? I would think pertinent significant facts should be prominently posted for all interested parties to see.
Hope he is not looking for a quick flip
oil has been up at $80+ for several weeks. the last time an announcement like this (during Bush last term), oil prices dropped like a rock.
Disgusting mess. Still do not have the pittance of the r/s shares. My broker says he is waiting on NAGP to initiate the swap. Interesring quandary. Think I'll file a lien or something. GLTA
So, what is "global lock" ?????
Yep, still here and still holding. Double down couple weeks ago.
jMurphy post was just off the wall. It seems the general consensus here is "give me a penny and I'll be happy". If I got more, I would verge on needing meds myself.
Basically a dead issue here, if it does come back to life, then one might expect some irrational bashing.
Good morning to you, too.
Waste of an alias.
Israel is real, finally.
hope DA will combine some production with this:
"H. Pixel will pay for production, marketing and inventory apart from the annual guaranteed payment."
Yes, very costly to convert to tradable shares. That is all I have left of my early ISCR trading. It required a couple of years to finally get out of this stock.
Good luck with your current trades.
VV, did you convert your "dividend" shares or do those still show in your account without a symbol?
JOEC U FUN KNEE
The very best to you, also. Wouldn't use a ten foot pole but "my money dr" isn't a ten foot pole, is it?
Oh, so you are just hanging around to watch the share price go down? Do you enjoy watching paint dry, also?
Yes, for now. Did you get one of those 100K blocks at .025 today?
Senior management is "buying". The following is from the November 3rd press release/filing:
"The Company reached agreements with the CEO and members of its Board of Directors to satisfy obligations owed to them for a portion of an outstanding loan by issuing to them 1,763,607 shares of our common stock and warrants to acquire 9,838,793 shares of our common stock. Under this arrangement, the valuation of the common stock and the exercise price of the warrants will be $.15 per share. This agreement reduces the companies debt by 15%."
"reduced its debt in the aggregate amount of $1,002,450"
In effect, senior management bought 11.6M shares for a smear over $1M
You do tend to focus on one side of the equation. For all of the selling pressure (formidable) forcing the share price down, remember those shares are being bought. If it were a sell off with no buyers, the share price would drop precipitously instead of a steady decline. In my opinion, we have a patient buyer or buyers who will slowly absorb all the available shares.
Not good but not bad, either. Simply news.
DKAM is a financially stressed company (duh!).
on one hand, St.G takes 3M+ pledged shares instead of twisting the knife.
on the other, PK and Board (specific individuals unknown) get 1.7M+ shares and reduce liabilities by 15% with another 9.8M+ shares strike at .15 tied to performance.
Is the glass half empty or half full?
this is new to me. How can it be there are "sells" when "nobody is buying"?
still buying more, yes.
one comment: Sun-z kept saying management should be buying at these levels. looks to me they just bought in real big, again.
Touche, Lee. I should have been more pointed in my comments. Personally, I am more concerned with signing on supplemental brewers than whether a label is for 12 22 or 24 oz. and the "Born in Michigan" is blacked out or not.
The fact (thank you, Sneaky) that an additional brewer is filing the necessary paperwork to begin production is what is important to me.
GLTY
Lee, there will be differences in the label from brewer to brewer, logistical distribution points, etc. part of this is the marketing, part is the legal aspects and part will be the individual brewer putting their touch on the product.
After all, if you are proud of something you are producing, you want people to know who is responsible.
The "analysis paralysis" comment is very appropriate at this point.
Now, you are talking my language. It will be time to double down, if it goes lower ($.05 is very doubtful, IMO)
Loan shark or not, the odds are in DKAM favor considering KR and, more importantly, getting inventory moving.
drinksamericas.com is still down. I bet it will be up again Tuesday.