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The facts about GLER:
1) Nothing is definite
2) Coal mine is on hiatus
3) Mining company may be ready to go but they need a mine first
4) Potential coal customer only applies if land is obtained
5) GLER has to come up with $25 million to get things started
6) GLER has no money
7) Modern Coal has no money
Coal in Kentucky is big business - the mineral rights are controlled by people with money, large corporations or generation controlled rights. I have not seen any big names associated with anything yet. Big Coal Business is not run from someone's house in Texas (like Modern Coal) - it is a large corporation with a lot of history and financial backing.
Unfortunately that is the case with many of the pinks. They make wonderful claims that are dependent on a possible agreement and then that agreement never comes to fruition or it is delayed indefinitely.
In regards to mining - land (in most if not all states) is sold as surface rights and the mineral (below surface) is owned by someone else. In the case of KY/WV/PA and a few others states the mineral rights are owned by large corporations, wealthy families, or a very few are owned by people passed down from generation to generation.
Coal is big business in Eastern Kentucky, Western Virginia, West Virginia, Pennsylvania and other Appalachian states. Big business is not someone's house sitting in a small development in Texas. It is the Massey Energy, Peabody Energy, Arch Coal, Consol Energy, etc. Coal is big business and there will most usually be big names somewhere in the picture. I'm sure a small coal company could get started in the area but it's not going to be some $360 Million dollar deal - small companies start small in the area and most do not last. The mineral rights are leased from the large companies or some other sort of profit sharing is setup between these companies.
Excellent DD by the way! I am glad to see that you have found the same (and expanded on) information that I have found. This is certainly the way it is supposed to work.
I just don't understand how people stand behind GLER! It's almost as bad as EMXC!
You had it right - I posted before I read your others posts...but yes you had that information...just in a different post.
I would have to go back through my notes but Modern Coal's address is a residence belonging to the Owner of Modern Coal. It is a 3BR/2BA house valued around $250k if I remember correctly.
This just adds to the fact that GLER is a scam. Advent doesn't exist, Modern Coal which is supposedly worth millions has very little history and is based out of a house (along with 2-3 other shell companies) and then you add in the additional information you found and it points to one thing - SCAM!
I had a feeling this would come into play once again. So the next question is when they will be shut down?
People will think negative comments about GLER is bashing; however, I try not to do that. I encourage everyone to look into the company and make their own decisions but I was a bagholder as part of a prior pump and was able to get out okay. I have watched GLER pump up, drop, pump up drop, etc.
I certainly agree - 99% of pinks are for trading, play the ticker, buy low, sell high and continue on to the next one. Watch the smart ones is what I say - you can follow some that get in a little early, watch that pump and sell on the way up. Take your 25%+ to the bank and look for the next one.
Modern Coal, LLC? I would be curious how much DD has been done with that company. Look at past history and their involvements (along with CEO) and then post on what you find.
Texas is leading the American Job Boom for no other reason than BRAC and George Bush! Period! Trust me, I have been involved with these projects. The billions of dollars that have went into the military facilities there as part of relocating them according to BRAC is amazing! The HUGE hospitals that have been built, the facilities to support the hospitals, the research facility construction projects, several other facilities and then you add to it the infrastructure AND then you have to add the 'temporary' facilities that are required to support the YEARS of construction support for these projects. Now let's talk about why Texas is leading the American Job Boom!
You might be right on the money with that statement! Could very well bounce - wish everyone else would play this rather than reading PRs!
You are absolutely correct!
Let's think about this though:
$25,000,000 @ .0030 per share = 8,333,333,334 shares
So in order to come up with the $25 million it would take them a long amount of time to come up with it.
FOR the people that want to believe in GLER maybe this has been their plan all along. Come up with PR after PR stating hundreds of million in revenue from all the various sources over the past year +.
I'm not bashing I just want someone to use common sense.
Yes there is money to be made here but trade it on the PPS and NOT on the PRs!
Please look into the past history of this company and see what has happened.
OK so once again - in order for this to work out GLER has to come up with $25 million dollars.
Yes they have a coal purchase order!
Yes they have a letter of credit!
But both of these items are contingent on GLER/Modern Coal's ability to obtain the land.
This requires $25 Million!
So the source of the $25 million dollars has not been determined. Where is this coming from?
Based on that information I am not seeing anything that cannot be retracted by saying the deals did not go through!
GLER has an order for coal - okay fine!
Soon to be acquired Samuel Coal Property - okay fine!
Total contract value - okay fine!
Initial LOC deposit - okay fine!
LOC will be increased to a quantity of material - okay!
Land description provided - okay!
Every single one of these can be retracted simply by saying the money could not be obtained as a condition of the contract! Very simple!
The coal order cannot be filled because the property could not be mined because GLER could not obtain the financing in the required time. The down payment could not be used because the conditions of the contract were not met.
This is very simple stuff here.
nodummy - I certainly agree with you. There has been no proof whatsover that financing has been provided from GLER to Modern Coal. If one were to just look up Modern Coal and do some research they will find this just is not going to happen.
So let's see - $25 Million comes from where? GLER is currently in debt, they have to provide $25 Million to Modern Coal but where is it coming from? Someone please answer that one single question!
Now - someone look into Modern Coal. Mega Coal Companies ARE NOT based in someone's house! I know this, I am from this part of the country! I know for a fact this does not happen!
Last part of this scam - where exactly is Samuel Coal property? I have seen maps, I have seen a lot of names but nothing with Samuel Coal name on it. So if this area is known as another name why not use that name? Interesting huh? Only information I have seen is the PR and it has a survey of about 240 acres when the claim is 5000 acres!
So here are the critical tasks:
1) Provide documented proof where the $25 Million from GLER to Modern Coal comes from. NOT from a PR!
2) Look into Modern Coal and provide documented proof on anything the company owns! Where does this company have money stashed away?
3) Provide information regarding Samuel Coal! Where is the property? Who owns the mineral rights? Who owns the surface rights?
So the question is still open - how is GLER going to come up with $25 million? Let's provide a straight answer to that question first and then proceed forward.
If someone can provide an answer to that one single question it would provide justification to GLER's existence.
I am looking for postings that are informative and could be very beneficial to MMTE Shareholders. I would like to include these as a series of links providing information and would like to ask for assistance with this.
You can PM me if you have that ability - I just need the post number. OR you can reply to this posting with a series of posting numbers. For those that know, you know where these can be found.
How about indicating documentation of someone actually shorting a stock under $0.10? OTC Markets only documents shorting in general which is generally done by the MMs but NOT by retail markets.
When and if someone can provide documentation showing shorting of the stock then I will believe it. Until that time I will continue to believe that it is just another way to justify the lower PPS when in fact it is either JUST the market or it is dilution.
That is an excellent post and I have always enjoyed how people claim its the shorts but last I checked it was too expensive to short most pinks.
You do the same Raptor - and I hope everyone has an enjoyable and safe 4th of July!
You are certainly correct; it's neither cheap nor easy. Maybe it just makes them a little more intelligent than the pink CEO's/management but it still exists.
The fact the pink CEOs and management get busted from time to time for their scamming of a few hundred thousand, maybe a million or so, and yet this particular group has cost people so much more is ridiculous. I guess because they are a marketing group they get by with it. I'm really amazed it hasn't been stopped yet.
That will be an exciting time. I have not seen one single stock they have touched that amounts to anything. There are tons of people that have lost a lot of money and yet they keep going.
OK - I tried to ask a question about a certain known marketing group and the name is blocked from being posted. So the group I'm talking about is the mini moo group and I'm sure we all know who that is.
My question is after their past history how is it they are allowed to continue to do what they do?
I just read their website and found this rather amusing:
There was another MMG play I was involved with at one point and there was a member that really opened my eyes to that group. I am amazed they have not been shut down after all their antics but they are still around, still pumping, still dumping, and still running their reverse boost lol.
Could not have said it better myself. I took a lot of heat when I said early on that anything run by that marketing group was a joke but I think this and so many others have proven my point.
Just remember the group promoting this stock. Also, the actual product is real it is just too bad that TexTraw had to get pulled into this. It is very unfortunate.
I'm surprised we haven't heard anything here - I guess it is just a matter of time.
I'm right there with you Phrozt - the 'safety' belt is strapped tight and we are in for a good run very likely starting next week. I'm ready for the volume.
At this time the quarterly will tie up several loose ends that are in question by people. I realize we said the same thing about the 1st quarter report but it is certainly true about this quarter! The first quarter report we did expect an increase in PPS, did not see it and it continued to fall.
There were a few questionable items in the first quarter report and I hope we see some resolution in the second quarter report.
At this point I would caution any new investor to GLER to really look into it before purchasing. I will fully admit that at one point I was a bagholder as part of a PnD but waited a month for the next run up and got out.
There is money to be made here - that has been proven time and time again; however, up to this point it is your typical flippers stock. Buying at 3-4 I think offers enough leverage to make substantial money because history shows it will easily hit 5-6. It has the potential to go higher as it has before.
Personally I wanted to believe in GLER because they were supposedly working in a geographic area that I am familiar with. Is it true - well everyone has to decide for themselves but I personally will not hold my breath.
I believe past history of the company is also very important. Nothing within the company has changed and it is still the same management.
There is money to be made here but only to those that have the full background. Don't believe all the hype about GLER.
Right now the company only has a Letter of Credit.
I think we will see it go a lot lower - the entry point has already been passed and now we are looking at exit points IMO. Another option is to hold for about a month or so and wait for the next pump to get out. I hope you are not left holding the bag though.
I couldn't agree more - I am as much a fan of Brian as I am of a certain government district that I am working with. After recent developments in both instances I am a fan of neither.
For anyone caught holding the bag this time around I would recommend looking at past history - about once a month there is a big push for GLER. The highs seem to be getting lower for the most part but unless this gets halted by SEC we will see another pump in about a month or two (based on past history).
Sounds like you may be questioning things a little here? Looking at the charts really shows several opportunities to get in and out and make some nice profits but I would not count on this one being anything more than a fast turnaround...unless you get caught holding the bag and have to hold for another month for the next pump.
I still go back to coal mining in KY/WV/PA is big business - a small time player like GLER/Modern Coal would require a miracle to obtain something like what they have announced.
At one time I wanted to believe in GLER because they were working in areas that I am very familiar with. I wanted to believe they were going to do what they said they were going to do; however, nothing transpired. The deals fell through.
I would love to be proven wrong because it is a company supposedly working on deals in areas that I am very familiar with but I do not see anything concrete as of yet.
Modern Coal cannot possibly be a major player in the coal industry of the area they are trying to play in which means they cannot compete with the major corporations that do hold the mineral rights. Most people on this board have yet to understand that the coal industry is big business in this area!
In regards to Samuel Coal property - why is this not listed with the state of Kentucky? Fine, maybe it is listed under another name but why was that name not used?
In regards to the bank name and the Letter of Credit - why did they not mention the bank name? As of right now GLER has NO MONEY - they have a letter stating they can have money if the proper conditions are met!
In regards to the international coal purchaser - why did they not mention the name?
This is all easy enough to explain - the 8K was worded very well! It has convinced many people that GLER is a legitimate company with a HUGE contract that has a major purchaser for the product AND by the way they also have money now! The facts have all been covered by nodummy already and I don't think they can be disputed at all.
As far as making money with GLER - it is absolutely possible! There is no way I would ever say that making money is not possible with GLER because I have seen it happen about once a month so far; however, what I will say is IMO I would NEVER hold this long! Get in, get out!
Again - I do not believe in shorting! Period!
Yes - this stock can do amazing things, sudden jumps from .004 to .03. Yes it can certainly happen.
Yes, buying at .003-5 is probably a safe bet that will make you substantial money and could very likely hit .03 again like it did in Feb...or the .004 to .015 fast jump and fall in May.
IMO this should be played as a typical pink and not held. Yes, at one point I was a bag holder with this one but quickly learned its not a buy and hold; it's a buy and sell fast. The jumps happen and they happen fast. The drops also happen fast!
I do recall that on 19 May there was a pump of this stock. I also recall the release and edit of the PR.
In regards to the filing - who knows, but at the same time how can an LLC being run from someone's home (with 2 other shells listed as the same address) come up with the amount of money to lease (or buy out) another mining company.
Then combine what was just posted by sidedraft in regards to the mine maps of Samuel Coal - well if Samuel Coal is referenced in the PR but it cannot be found on the mine maps of KY where does it exist?
Excellent information!
I bet the 8K will indicate an extension of the financing from the company in Korea. Just my guess - wait and see if it holds true.