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SHEEESH!! Those accounts can't be looking good right now! But, then again, patience is needed here. 10K should answer a lot of questions....if it's ever released.
BOOM!!!! Love it when there is support for assertions. Nice work MFJ
Shouldn't we have a 10K by Friday?
My apologies on accusing you of insider information. Looks like it was just a big coincidence and this piece of garbage went right back down. Holding on the 6 month price target of -0.00-
No, never had an encounter with him, but I've read the last three 10Qs and the last 10K in great detail. Stan, Alan, and most of the directors are tied to this area and have some degree of knowledge and experience in water or energy. He has neither and resides in southern California. I guess I was confused why he and Robert Miranda (CFO) would be involved, plus, he's managed to become the second largest shareholder after STW. Did a quick google search on him and found out he's in personal bankruptcy and has been accused of prior Pump and Dump schemes. Just think those investing in a company in which he oversees the finances of, should be aware.
Again, I have no real interest in the people or operations of STW. I just get tired of reading pump pump pump all day, and from what I can see, none of it adds up. So I'll stick around and provide the only contrary voice of reason. AND it REALLY rubs some the wrong way....but they can't provide support to disagree.
I'm sorry but...
I would love to see STW PPS rise and hope they succeed, as what they are trying to achieve should be of great concern for everyone in the Permian Basin and in other drought laden areas. BUT...I have no desire to see artificial price inflation due to unscrupulous manipulators. The simple facts are we have heard zip from the company and at the last 10Q, they had no cash and despite a 700+% increase in water revenues, losses continued to build. Since that time, oil prices have fallen further and banks have tightened lending for companies operating in energy dependent geographical areas. Very simply put, water is not able to support itself, and energy revenues are most certainly going to decline. This and a NT10K is all we know to this point. What in that would drive the PPS up 60+% with triple the average daily volume?? My eyebrows are certainly raised as should be others on the outside looking in.
Plus, I think Paul DiFrancesco is a fraud from California who needs to get his own personal checking account in order before taking your money and wiping his a$$ with it.
I'm a sensible person and welcome debate and constructive conversation. But I'm tired of hearing about how STW is about to blow the top off and there is not a single shard of evidence pointing to that.
GLTY
Don't you find this trading activity very unusual? Seems like we are out of the loop on something driving this up. I expect you and I will hear something soon.
Why would you say that? Are you anticipating a strong 10K to be released (if so, why???), or some other news to be released we don't know. Just curious, because all available information to the public (or lack thereof) has been negative. Just looking for some clarity here....
STW is right on the 50 DMA and WAY below the 200 DMA with an RSI closer to 70 than to 30. What are your thoughts here? What about that says oversold??? I think the lack of any information over the last 3 months can very easily be construed as negative news. IMO the facts we have available point to further losses, not upward gains.
Private investors need to be very cautious here and do their DD. With very little effort you should be able to clearly see this stock is being manipulated by unscrupulous MMs. STW was $635k overdrafted at the time of the last 10Q, bragged about a 700+% increase in revenues (while burying the fact it was due to a one time booking and losses increased) and have not released a public statement in over 3 months. There are those who will try to paint this as a very very good opportunity but the signs are very clear, this boat is going down!!!!!!
If you please refer to last year's 10K, you will note the employment contract between Paul C. DiFrancesco (same one in bankruptcy court in southern California). Position is Head of Finance (you're right, probably not that important for a company that has no money LMAO!!!)
Terms of Contract 3 years - Base Salary - $144k Y1, $192k for Y2 and Y3.
Salary Bonus - Exmployee will receive a bonus to be paid semi-annually up to 100% of the base salary for the previous six-month period (oh and he's the head of the compensation committee) Also 300k share signing bonus.
Other relevant info from prior 10K - During the year ended December 31, 2014, we incurred $635,000 in board and consulting fees with Paul DiFrancesco, a Director. Mr. DiFrancesco was paid cash of $282,500, awarded 538,870 shares of common stock in the Company, valued at $277,500 for services related to 2014 activities, and $75,000 per year as compensation for serving on our board of directors.
Oh and as of last year's filing - he was the second largest individual share holder after STW.
Also, on October 9th of 2015, STW awarded Paul another 2,000,000 shares for his "efforts" on behalf of the company.
He's pretty much the highest compensated employee in the company and is the head of finance. How is that not a key employee?????
I would think those who did their DD would be "familiar" at least with him. Hmmmmmm..... suspicious.
Folks, this is what happens when the person you put in charge of finances for your company is in personal bankruptcy. We should really put a law in place that you have to be able to manage your personal checking account before entrusting you with the finances of a publicly traded company. LMAO, I can't believe there are still buyers for this piece of crap, although I'm pretty sure as MFJ pointed out, there really aren't.
As I have pointed out many many times before, the 3Q15 revenue numbers were extremely inflated due to the one-time Horizon City project completion. Stripping that out, they did not increase at all, and losses continued to build in spite of it. Revenues can increase all day long, but if expenses rise at an equal or faster pace, ACCUMULATED DEFICITS WILL INCREASE AND LOSSES ARE WHAT MATTER!!!!!!! Get ready, because this charade the MMs have been putting on with false volume is about to come to an end and slap them in the face. I would hate to have jumped in at $.50 a share and had to keep buying to average myself to below $.10. Should be a great tax write-off come December. LMAO, remember when we were confident all the selling in December was tax selling. LMFAO, where was the corresponding buyers? Never materialized, just like profits will never materialize for STW. Paul DiFrancesco is a fraud, he's done it before, and he's doing it again. PUMP AND DUMP BABY!!!
ALERT! ALERT! SHOCKER! STW LATE AGAIN!!!!! WHAT A PIECE OF CRAP! Quit delaying the inevitable. Put it out, let everyone know you're not making any money, update your resumes, and let's move on!!!
AGREE 100%!!!! Nothing at all to buy on except an anticipated NT10K which we should see tomorrow.
This is silly and pointless trading. No news in weeks. Let's wait and see what the 10K says.
When was the last time anyone reached out to investor relations? Is the company responding to anything or anyone? I'm astonished by the silence. I expect we'll hear something in about a week from now, likely in the form of a NT10K. The last investors heard was $671k overdrawn and losses continuing. Where are you Paul and Alan? You're not paid to sit on your butts and watch the company dissappear....
Someone threw $30 away this morning. What a long, sad journey down this has been. Sitting next to an all time low, virtually no volume, and not a word from management. Go ahead and turn out the lights and let the courts sort this one out. Might I suggest Judge Latham's court in southern California? He should already be familiar with the finance director and should be able to wrap this up quickly.
https://www.docketalarm.com/cases/California_Southern_Bankruptcy_Court/13-5089/Paul_C_DiFrancesco/
Looks like another day with very little volume sitting next to an all time low. I guess the silver lining is the finance director should know his way around a bankruptcy court. LMAO!
PAUL DIFRANCESCO - History of Fraud and Bankruptcies....Something has always really bugged me about Paul DiFrancesco's relationship with STW. The bulk of the management team has ties to the oil field or West Texas, except for Paul. He has no water experience and is listed as the Financial Director. One must assume he was brought in to manage the finances and secure capital for funding. He's based out of Southern California so I thought I'd do some investigating and figure out just why this guy might be worth the lucrative employee compensation agreement he's been able to negotiate. Surely he must have decades of success and a proven track record. Below is all I was really able to dig up.
A pending Chapter 7 bankruptcy case in southern California http://www.plainsite.org/dockets/28c4ll1pn/california-southern-bankruptcy-court/paul-c-difrancesco/
And a record of complaints and accusations of dishonesty, and one prior Pump and Dump scheme. http://brokercheck.finra.org/Individual/1932215
Seems like a real financial wizard and just the guy to steer STW on their path to prosperity.
Starting to make sense.....
I agree, and the gains could be astronomical. I just don't think the odds are in their favor.
IMHO those patient investors holding out are going to have an excellent tax write off this next year. Although that was what was supposed to drive the pps down at the end of last year. It's always something other than the fact this company has no cash, very high overhead , and dwindling revenues. Just my opinion of course. But, with all due respect, I've been right on the ride from $.50 to .03. But let's just be patient and see. No reason to argue until we see the next report card. Best of luck friend.
This is a non story. These systems have been at these levels for a decade or more and the governing regulatory bodies have been aware. The notion that some piddly corporation in midland Teas on the verge of bankruptcy is well positioned to take advantage is just laughable. Keep reaching. To -0- in 6mos.
LMAO, great stuff. Article paid for with shares and cash, cash they don't have. Very concerning we've heard no real news in 3 months and the last we heard they were $670k overdrawn and losing an average of 300k/Q on water assets. I cannot wait to hear what the promoters have to say when we see the 10K. Probably a lot more patience needed. LMAO.
Hey guys, just starting to do some DD here. Good find, look forward to diving and getting up to speed on Eco-Stim.
Revenue will continue to come in but at a much reduced rate. Water losses amounted to ~$1m through 3Q15, and that included a one time booking for the Horizon City system installation. Expect recurring revenues to dip back down to ~150-200k per quarter. The real hit will come from Energy Services. I encourage you to investigate the activity and reach out to the company for further details. I cannot imagine there are ANY crews currently working for the company. But, you'll need to research that independently. Without the construction crews operating, water is simply not enough to keep the lights on and the payroll bills supplied. I anticipate they begin missing payrolls and skipping vendor bills in the next few months, and the doors are shut by 3Q16. They already have some outstanding past due tax payments lingering and the big revenue just didn't materialize and energy is no longer there to push them along. IMO, price target is set for -$0.00- over the next 6 months.
HOW EXCITING, ANOTHER PIECE OF CRAP ARTICLE PAID FOR BY THE COMPANY ITSELF!!!!!
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PIPELINE CONSTRUCTION - Would someone mind doing some DD and calling STW, preferably Alan Murphy or Paul DiFrancesco (Although I doubt you are able to get a hold of him, he disappears a bit from time to time), and inquire about the pipeline construction business, if they are still operating, and if they have any crews still operating in the Permian Basin? I just cant help but think that if they don't have the revenue coming in from PL, and the one time water booking in the 3Q, where in the world will they get any cash? Sure is hard to make payroll and pay your bills with no cash. If you don't pay your bills and dont make payroll, you lose personnel. If you lose personnel, it's hard to generate revenue. Kind of a dark spiral down really. I think long term investors will be severely punished. I just don't anticipate any fresh revenues, and the well has to be dry. (All kinds of pun intended.)
No it won't. Time is up. Game is over. Money ain't coming. Sorry.
How about this, why don't you call STW and try and arrange one of their crews to come out and work on your pipeline? Go ahead and try. Ask how many crews they have still on payroll. Good luck.
I could not disagree any more. Patient investors are the ones who have ridden this ship from $.40 to $.03, losing 90% of their investments. Patient investors are the ones who will be left holding the bag. Without energy services as a crutch, water wont last through the year. I'd sell every share I could today.
I agree and have been saying it for a long time now... expect falling revenues and continued losses with negative cash balances. I be Paul DiFrancesco is still collecting his paychecks though.
Interesting outlook and well researched. Where I would caution investors who are here for the long and strong approach is funding. I don't think anyone is debating the necessity of water and plans for procurement, but is STW well positioned to take advantage? STW is clearly on life support at this point and if they don't receive any additional funding the show is over. As a city manager it would be very difficult for me to trust a vendor like STW for my 5-year water plan when I have serious concerns they are around in 5 years. The 3Q water revenue was a one-time booking, and we have heard no news of new revenue sources. The opportunity for significant gains at this level is certainly there, but the odds are very very long IMO.
3Q revenues are very misleading. If you consult the notes to the financials, the water revenue was $1,063,219 in 3Q, but only $1,330,989 through 9 months. Looks great sounds great, but $934,558 of that 3Q was a one time revenue booking due to the completion of the Horizon City RO facility. This is not a ramping up of recurring revenues.
It should also be noted the last Q evidenced significant gains in water-related losses as well.
Interesting read. Water Managers Not Concerned
Key quotes:
"Lubbock’s main groundwater sources — Lake Alan Henry and Lake Meredith — are nearly at their highest levels in recent years and water resource experts have a positive outlook for the area’s water supply going into the warmer months of 2016, with no increases to water restrictions anticipated"
"“We’re in better shape than we’ve been in several years,” said Kent Satterwhite, general manager for the Canadian River Municipal Water Authority."
"That may not sound like a lot, but that’s the fullest it’s been in nearly a decade, and water keeps flowing into the Panhandle lake, Satterwhite said."
" Lubbock’s other major source of surface water, Lake Alan Henry, was nearly 94 percent full"
Also, did some research on the water supply of the Permian Basin, closer to STW's key operations. Current aggregate water supply is at 20.3% capacity, a level not seen in 6 years. Average over the last 20 years has been 25%. Not nearly as dire of a situation as when STW was born in 2011 and 2012 when it dropped to ~5%.
Coupled with the decimation of the energy industry, the rebound in water levels and absolutely -$0- cash to fund projects, STW is carving its path to insolvency. Not sure how anyone can argue this is undervalued. Would love to hear some supporting facts.
Would you mind explaining? I'm new to the "game." Seems to me if I thought something was incredibly undervalued at $.40 and would quickly resume trading above $1.00 in the near term, why would I be splitting hairs over $.005?
It's amazing how many creative explanations we've seen for the ~90% free fall in PPS. We've seen tax selling (buyers paradise), paint trades, T trades, just about everything except for a fundamentally poor company that is properly priced by market. I would think those who saw incredible opportunity and undervalued and oversold down at the $.40 would be willing to accept some partial fill orders at $.028. JMO of course.
SURPRISE, we've found more sellers! Those looking to accumulate and average down at these opportunistic levels, get after it!!!