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If they actually were keeping us informed, it would not be an issue, but I think it is quiet because plans have fallen apart and they have noting to report!
The last Press Release was in Sept. and stated:
"Attorneys for both entities are working to finalize closing documentation to effect the transaction. Although we do not see any complications at this point which will hinder closing, wish to caution that the transaction is not complete and that this communication is only to advise our strategic partners and investors of where we are in the process. We hope to have further updates soon."
4 months later and no news is not good. Something must have happened is my guess as to why we have not heard a peep out of them.
I agree!
It is tough all over the board with Oil stocks, if UAPC can hang in there for another 12 months at these prices, then they are golden!
Don't expect miracles here anytime soon but if you can wait I think the rebound will be huge! Have a dozen other O & G Co's in my portfolio and if they don't go out of business before, could see tremendous up side when the inevitable rebound does happen.
With the new plants being built in Nevada, TSLA will move up from here over the next year, definitely a long hold but will be worth the wait if you can hang in there! Seeing $$$ in the future, this is my GE stock!!
I looked at this some months ago and in the filings from the recent 10 K/A and here are the beneficial ownership structure and employment contracts which has not changed from the Q filings. I do not see any Form 4's filed that management would have to file if these numbers were to change:
Name of Beneficial Owner, No. of Shares Beneficially Owned, Percentage Shares, Beneficially Owned Named Executive Officers:
Robert W. Chance 321,637 7.1%
Jeremy Briggs 197,569 4.4%
Employment Agreements with Named Executive Officers:
Robert Chance. Effective December 31, 2014, we entered into an Employment Agreement with Robert Chance. Pursuant to this employment agreement, Mr. Chance, agreed to serve as our Chief Executive Officer. The term of the employment agreement is 18 months and terminates on June 30, 2016 unless it is terminated earlier in accordance with the agreement. Pursuant to the agreement, we agreed to pay Mr. Chance a salary at the rate of $105,000 per annum and to provide him with supplemental benefits such as health insurance and life insurance.
Jeremy Briggs. We entered an employment agreement on September 30, 2014, with Jeremy Briggs under which he agreed to serve as our Chief Financial Officer. The term of this employment is 15 months and terminates on December 31, 2015 unless it is terminated earlier in accordance with the agreement. Pursuant to the agreement, beginning on November 1, 2014, we agreed to pay Mr. Briggs a salary at the rate of $114,000. Mr. Briggs is also entitled to supplemental benefits such as health insurance and life insurance. Under his employment agreement.
With the dilution that has occurred, the two combined are holding less than 1% in the Companies Securities, so I don't see a smoking gun from management here unless they received more shares and have not reported them, which would be illegal I believe.
Looks like sellers are gone, wish we had some news, any news and this would pop.
I hope so, my O & G stocks are in the shitt..e..r !! NESV is small potatoes compared to HAL which I bought a ton at $43 thinking this downturn was short lived, but wrong! Down 34% across the board, I am ready for this thing to end, don't mind paying higher gas prices at the pump!
What I want for Christmas is some news!!!
Waiting on news! But with oil at $35 per barrel, they need to pull a rabbit out of their rears. Pessimistically optimist here. We will see as I stand pat here. No choice!
LOL! Oil is dead! Under $2 a gallon at the pump!
I have much larger fish in this pond than NESV, which can assure you, I am more worried about.
Lost faith here as I do not see how they can make it! Not on a wing and a prayer! Sorry to say, I liked this company.
We could see oil in the $20s, fracking is dead~!!
Your right, your right! But who knew Oil and Gas would tank the way it did this year? We all have been hit hard on energy stocks, not just with NESV.
I am kicking myself for listening to T Boone Pickens!! Who I now think is an idiot! He made me some money over the years but he certainly got this one wrong! a..s... holy!
LOL!!! You are right!!!
Maybe that is all that is left, with oil heading down to $20's per barrel! I have lost my shirt on energy stocks this past year!
If I were management, would be thinking about jumping ship! This industry is going to be in the tank for many years to come, they are sinking.
Cutting my loses and writing off on my taxes! :)
The surprising case for $100 oil!!
This is why I am hanging in on my energy stocks, most inside the industry know that as fast as prices declined, they will bounce and hard! Just when is the question!
http://finance.yahoo.com/news/surprising-case-100-oil-110000220.html
I can't stop myself!! I keep buying because I know NESV is a good Company!
I stopped buying OTC about six months ago, but have held here and at sub penny, what the hell, keep buying!!
Do I eat at Monaco's or buy a few hundred shares of NESV! Buying NESV is much better for my waistline! And if they pan out, I can buy Monaco's!!! My Wife would love that! :)
Right where I am at!
Up to my neck in here, but nobody forced me in here, I have other Oil stocks that are performing crappy as well so NESV is not the only company feeling low oil price pain.
I am hanging on here, not bad mouthing or not intending on doing so! Just frustrated that the rumors of an acquisition have not panned out so far. I think if that happens then this is a whole new ball game. But without it, I hate to imagine what is in store.
We shall see!
Doesn't look like it!
A whopping $48.00 today! lol!
I hope whoever the note holders are that slammed NESV is happy! took a good company and threw them in the toilet!
I have lost all faith that NESV is a play. Although am keeping a hold on what I have invested here.
Who knows I may become wealthy or may bust, but am sticking it our here either way!
Oil Stuck Below $80? No Way, or Global Collapse Is Coming
I agree, EIA is clueless about predicting future oil prices. Great commentary:
http://www.thestreet.com/story/13361965/1/dicker-oil-stuck-below-80-no-way-or-global-collapse-is-coming.html?puc=yahoo&cm_ven=YAHOO
That is why NESV is a diamond in the rough! If they can execute on their acquisition strategy, which I think they can, the Company will skyrocket when the oil bounce occurs.
Not if but when. Worth holding onto in any event!
It is all I am waiting for!
I know they are working on it but my patience has run out! We need an update before I can buy any additional shares, I have a boat load of money in now!
I though they said they would keep us posted in their last Press? Maybe their definition of keeping us posted is different timing wise than mine! lol!
Anything at a penny, I am buying all day long!
It is frustrating, dilution is having me shore up my position every day. But I am a believer!!!
Hopefully I am redeemed soon!! Geezzz!!
Exactly why I think they didn't announce the Texas acquisition, lesson learned.
I read somewhere that the two they had under LOI last year (and announced BTW) had been hard hit by the downturn in oil. So what they had agreed to buy them for was out the window.
I think that is why we are not hearing anything about new LOI's. Not a sure thing~!
I am sure they are working on an acquisition,it is just when will it close is what I am wondering about!
The Company had the signed LOI back in March but did not announce it because they traditionally don't hype the stock. It wasn't until someone picked up on it in the Q filing that an LOI had been signed that we found out about it, otherwise I doubt we would even know about it today.
I am not sure of their strategy of keeping shareholders in the dark, but on the other hand, I appreciate that they don't engage in pumping us with frivolous PR's either.
That is why I laugh when someone even mentions a "Pump and Dump" here as it is hard to even get them to put out what other Companies would consider major headlines!
Just patently waiting here(although frustrated)!
Probably because I have been an Investor in NESV for so long. I know in my gut they don't quit, but this is just me, not influencing anyone to make a decision based on my own feelings. The stock is not performing and the only way out of this is if they perform, so you need to either believe or not.
I am not buying even at these prices, averaged my investment down already and am just going to sit tight as it does not make any sense for me to liquidate down here. Just hoping there will be an upside in the future.
Acquisition discussed in the PR is still in the works but a key requirement was added in the negotiations which NESV is working on getting done.
Don't know what it is that was added, but if they can get past it then they can have a clear path to a closing.
I was starting to loose faith as I thought this would be done by now, as many here have, but now I am back in as I believe they will get whatever it is done! Go NESV!
No, this Company is a 180 from a Pump and Dump!
If that is what you are thinking you are wrong. Has anyone called the Company? Why is the acquisition delayed?
What happened to the acquisition?
We need some news, it's been over a month since a PR was released on the one that was in the works. Has anyone talked to the Company on where they are at?
Thought when I returned this thing would have skyrocketed by now! If it is delayed, they should give us an update.
?? Thought we would have some news by now!
Just returned from Europe for two weeks! What is the word on news of an acquisition? And now in sub penny land?? Any idea on OS Shares?
Something big is happening in Utah, in Asphalt Ridge, where geologists believe there is potentially 1 billion barrels of oil recoverable from oil sands, and where a new breakthrough technology has proven cost-effective at producing 'clean' oil sands in a win-win situation for both investors and environmentalists. Right in JD Fields backyard!
http://finance.yahoo.com/news/could-technology-innovation-oil-industry-161900906.html
So! 45m divided into $80mm in revenues and $60mm in assets post acquisition! What does it take to become a NASDAQ Company? :)
Yea they don't have billions authorized, but they do have revenues which is really unusual for a OTC stock!
Wrong! There has been dilution from note holders but it is not even half of what you are implying!
You are basing your assumptions on a fully diluted bases if all the notes were converted out today. If an acquisition or some major announcement is made, and the share price spikes to $1.00, your calculations are out of the window!
Scare tactics! That is all these shorts are interested in!
Slap the Ask, pretty thin can move up easily!
Won't we have egg on our face when this is announced:
LAS VEGAS, NV--(Marketwired - Sep 21, 2015) - National Energy Services, Inc. (the "Company") (OTC PINK: NESV) a growing oil and gas services company, would like to issue a statement regarding a proposed acquisition which was included in our recent filings to the SEC regarding the signing of an LOI with a Texas based Company operating in the Eagleford and Permian Basins.
NESV is rare indeed!
Won't take much to push this into dollar territory!
BARCLAYS: Oil prices will come surging back much faster than the market expects
http://www.businessinsider.com/barclays-researchers-forecast-a-major-oil-price-rebound-in-2016-2015-10
Good article
News of an acquisition will smoke penny land!
Right now maybe!
But get the whole picture before passing judgment. This Company can change on a dime with a large acquisition added.
I believe we are close on having news!
And if you think $.02 is pumped, probably one that sells low and buys at peaks.
Wait until the PR is released, then look back at this statement when you can't buy a share below $2.00!