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I didn't say your data was wrong, I was simply commenting on your statement that EVFN has plenty of time left to comply with the set date when the date is now 30 days in the past.
You mean as in a month ago? That sure leaves a lot of time to comply.
Do you just post to amuse yourself, or do actually believe your own comments and opinions?
If our government were to provide subsidized financing to an entity such as this excuse for a publicly traded company and with the history of this 'family of companies', I'll single-handedly start the next American revolution.
That is priceless.
IR determines who gets to participate in a dividend distribution of a publicly traded company based on opinions posted on an internet message board.
The company should really invest some time in understanding which shares are authorized, issue and outstanding and who holds what. I know that this sounds difficult, but somehow 99.999% of the other publicly traded companies manage to accomplish it.
If they can't do that, what else are they screwing up in their accounting, control and treasury functions (assuming there actually IS a company and that there are REAL people in charge of doing such tasks)?
What stops anyone from photoshopping the heck out of a PDF scan of a brokerage account?
23:1
I haven't been paid, nor do I anticipate them paying all investors.
For instance, running a dividend distribution solely through the internet obviously discriminates against any investors that don't have access to the internet. In essence, if you are not keeping up with the postings of various boards, you'd be SOL. In all fairness, I don't think that this meets the criteria of how a dividend should work.
Besides, call me an ass if you want, but why would I trust a company who can't make an announcement in coherent English and hires a yahoo from a message board as VP of IR. I for one can't help liking this, because for once there will be a person tied to this company that is subject to jurisdiction in the United States if you catch my drift.
Just step back a few feet for a second and look at the body of work with all of the flip flopping, misdirection, proposed buy-outs, mergers, lack of transparency for this company since 2006.
If that gives you a warm and fuzzy, that is your perogative. It just doesn't do it for me.
Which is where it belonged for quite some time now.
Pretty audacious scam over all. I can't believe they went as far as having a groundbreaking ceremony at Muhlenberg county, preying on local government officials just hoping for a few jobs coming their way. Goes to show that some people have no shame.
Given their history of flip flopping and misdirection, it is hard to imagine a scenario where this thing may ever 'grow legs' again.
Funny you should point that out. Neither does EVFN.
When will you ever read the press releases for what they say rather than what you want them to say?
Revenues are not cash to walk away with. The number quoted was before interest and taxes. I grant you depreciation since it is non-cash.
You start with $43k a month. The loan for Willie's place is over $6 million and I believe the interest rate is above 6%. I could look it up but I am too lazy. That's $360,000 in interest a year or $30,000 a month, and that is at the low end of the estimate.
That leaves you with about $13 grand before taxes times 48% ownership. So a whopping $6k a month or $72k a year. That doesn't even pay for the EVFN secretary.
Technically they neither sell nor produce fuel at this point and the foreseeable future.
They must have forgotten to mention that in their pump piece. Luckily there is always the safe harbor statement.
Ok.
Chart is flat with no bid most of the time. What's there to see?
PRs are laughable at best (i.e. check it out: demand may have increased for a product that we may consider offering at the gas station that we have been trying to build for years but for which we presently lack permitting and financing)
On which part of the financials would you like me to focus on? The lack of revenue and/or liquid assets or the overwhelming liabilities and negative current ratio?
I am amazed by your ability to rationalize anything and see a silver lining anywhere. You actually deduced that a market maker is 'very active in stocks'. Impressive feat. Is your next revelation that a congressman is 'quite active in politics'?
As to your short squeeze point, most posters here view you as "the boy who cried short squeeze". Just how many times have you posted that the squeze is imminent? Apparently credibility must not be very high on your agenda.
What is your agenda anyway?
Sounds intriguing. I have always aspired to become the spokesperson of a non-existing shell designed to fleece the ignorant. That's definitely on the bucket list.
And before we declare victory on the dividend front, let's see if an investor with less bias than the self proclaimed IR receive it within the thrice amended deadline. In case they don't, do you wonder if Richard is starting to feel the noose tightening just a smidge?
I was unaware that printed numbers are usually affected by translation of foreign languages. For the record, I speak multiple languages fluently, and for the most part 0.008 translates to 0.008. Unless you prefer the more common European notation of 0,008, but last I checked this had no impact on the number of 0s.
Yet, The bigger joke is that the most staunch and ardent supporter of this company is the only person receiving the dividend. Some coincidence.
Priceless.
I assume that the cabs running on CNG as we speak will continue to fill up at the stations they currently fill up. Good for those stations.
Some victory for EVFN. For any other outfit this would easily qualify as worst PR ever, but for EVFN it'll barely crack the top 25.
Interesting obervation from today:
No activity noted. Shrubs are still growing on the chain link fence. The place is in the same general state of disrepair it has been for the last 5 years.
Nothing.
It tells you that the specific LLC was legally formed, the fees have been paid for and will remain so until the next round comes due.
You can check the same info for any LLC in Texas.
Lest we forget that all assets are already levered to the hilt. The company has more debt than assets as we speak.
In response to another poster, you can't pledge leased assets such as fuel stations (even though that point is pretty moot). They are not yours by definition. If you had recurring cash flow from them, that would be another option.
As I said, it's moot.
Don't really see what sources of financing DM is envisioning Bloomfield to dredge up. We are living in times where good companies with solid business plans and existing businesses that are trying to grow find it difficult at best to secure adequate financing. So why would anyone throw any money into this cess pool? Reputation does count for something in business after all.
As to the entertainment factor of this company, I rate the fiasco with the leased stations to be one of DM's better cons. Flying a $75 banner of EFVN over the marquee when the pumps clearly state Conoco is pretty brazen.
What are you saying?
Don't you feel that you got $5 million worth of expert management and leadership for the past 6 months?
I for one will never comprehend the audacity of these people. The 10-Q still states that the company hopes to resolve the lease defaults. Nevermind that another company is actually operating the stations as we speak.
Is this Dr. Jekyll TARKA or Mr. Hyde TARKA?
You are one confusing individual.
You are hopeless.
EVFN itself calls the LP dormant, the name is different, no earnings flow into EVFN's annual report, and there is no mention of this facility anywhere in the annual report, but YOU are convinved that it is theirs.
I'll let you have 99% of my shares in Goldman Sachs Processing LP for a cool $1 million. You should tell Lloyd Blankfein that this will make you his boss now.
Call EVFN or Vertex to confirm your findings.
You usually don't see a Slayer and Shania Twain reference in the same post.
Best of luck to Germany in the World Cup.
Tarka,
in this and in your other posts, you still equate Vertex LP to Vertex Processing LP. You can rest assured that when it comes to SEC documents, the company accountants usually get the names right. Your inferral that they simply 'forgot' to write down the Processing part is misplaced.
If you don't want to take it from me, please verify with Vertex whether they accidentally omitted the 'Processing' part of the name.
I think we all get it by now. The word superficial is the derogatory term of the day reserved for heathens such as myself. Ironically enough, in your response you don’t answer my precise questions but rather post a deluge of links as though sheer quantity of information can somehow compensate for the lack of substance or relevance to either the questions I posed or where this company stands today.
Just to remind you, it is you who came on this board with obscure claims over the weekend, so it is only befitting that you substantiate your claims in an accurate, irrefutable and concise way instead of being cryptic and belittling. If you truly know more than all of the rest combined, you should be benevolent enough to share your data and sources. I am not above admitting mistakes when confronted with factual proof. Sadly, opinions do not constitute or substitute for facts.
That being said, let’s dissect your body of work and put an end to this charade. I welcome your rebuttal to my interpretations of what I read.
The PNGX link stating the company emerged from bankruptcy just confirms what I have been telling you all along. The deal is done, EVFN is left with a miniscule equity position. The alleged big benefit to be derived from a future emergence per your post from this weekend lies in the past.
The Vertex Proxy Filing – Not a single reference to Vertex Processing, LP or any ownership by EVFN. Don’t worry about my comprehension. I understand perfectly fine that you didn’t claim that EVFN owns Vertex Inc. They own 49% of Vertex Processing, LP, which per the Vertex links you provide is not mentioned once and appears to own nothing. None of your links substantiate a 99% ownership relationship Vertex Processing, LP -> Cedar Marine Terminal.
South Louisiana Ethanol, LLC – That must be your operating ethanol facility in Louisiana. I nearly forgot about this one. Let me tell you how that one ended, straight from an old EBOF 10-Q:
“On August 31, 2006, Earth entered into letters of intent with HPS Development, L.L.C. ("HPS") which contemplated a joint venture in which a newly created limited liability company (the "LLC") would own and operate a fuel ethanol distillery located on the Mississippi River in Plaquemines Parish, Louisiana (the "Agreement"). As contemplated by the Agreement, HPS was to contribute real property and improvements in an ethanol distillery for a 50% interest in LLC. Earth was to contribute cash totaling $50 million and issue 5,829,005 shares of common stock to HPS as well as the assumption of $40.0 million in debt obligation to be incurred by the operating company in connection with the renovation of the facility. We anticipated the renovation of this facility would take 12 to 14 months, after which time we estimated the plant would have an ethanol production capacity of 60-80 MMGPY.
Through June 2007, Earth had invested $27 million in the joint venture without a security interest. The Agreement between the parties was disputed and in June 2007 a settlement agreement was reached whereby HPS would return $4 million in cash and provide an $18 million note to Earth. In addition, HPS signed an agreement not to compete valued at $5 million. At of December 31, 2007, the $18 million note was considered to be impaired and accordingly, Earth has provided a reserve against this note. As a result, Earth recorded a $23 million loss on the LLC investment for the year ended December 31, 2007, and $0 for the nine months ended September 30, 2008.”
http://www.sec.gov/Archives/edgar/data/1268471/000101690008000014/form10q.htm
Would you care to respond as to why this plant is not mentioned in the listing of the Renewable Fuels Association (RFA) list of plants currently operating or under construction?
http://www.ethanolrfa.org/bio-refinery-locations/
To further cement my point, this deal was entered through Earth Ethanol, which is now dormant. It is also conspicuously absent from any discussions in the financial filings and the critical success factors.
The settlement agreement between Earth and Castlerigg (re: PNGX) – this predates the Capter 11 bankruptcy proceedings by 2 years. While accurate that Earth received 7m shares in the original exchange, they have been wiped out with the remaining equity in Chapter 11 as substantiated by your first link. Note that the corresponding asset line item for this investment is gone from the EVFN consolidated Balance Sheet and has been charged off to losses in 2009 as per the EVFN financial filings.
The first Durant article regarding upgrades – we all know Durant is in a state of disrepair. Show me $1 in capital expenditures in the EVFN financial statements since the article was posted in February 2009. Did the plant become operational in Q1-2010 as stated as goal in the Q1 financials that were reported in late April 2010? (Hint: Note the obvious disconnect in dates?)
The Guarantee And Collateral Agreement With Fourth Third – same story as Castlerigg above. All dealings with PNGX that predate the conclusion of the Chapter 11 case are irrelevant.
I am not sure where you are going with the Form D filing from May 2009. We all know Dennis issues equity into the open market every day. That’s how we wound up with the 2009 reverse split in the first place. Are you going to discover America next? Or perhaps the wheel? If you thought this would prove your point of ‘new debt financings’, it is unfortunately addressing another section of the Balance Sheet.
The deal with Vertex – once again, nobody is arguing that a deal was made. We can all see the Vertex Processing LP listing in the subsidiary section of the financials. The only problem is that, according to EVFN own public financial filings, the acquired stake of Vertex Processing LP is DORMANT. You are telling me that, in spite of the publicly available financial filings, you know better and that the company isn’t telling us everything about their own operations? They somehow overlooked that there is a cash producing entity in their midst? You should give Dennis a call immediate to rectify and correct this omission.
Also, I will delve a little further into Vertex and who owns what later, so bear with me.
Earth appointing Miguel Dabdoub as Biosdiesel VP in 2007? Where is that guy now? I don’t see him as an officer listed. Last I checked, the company has 4 full time employees today, he is not one of them. And the magic dust he was to sprinkle over the Durant facility to somehow squeeze maximum efficiency out of the shack, ummm ‘plant’ really paid off... If you look back on the EBOF filings, the company barely broke even on that plant at the operating profit line. Let alone interest and G&A expense. You will also find in your research that the plant was initially designed for maximum bilk of federal production subsidies rather than operational efficiencies, all under the watchful eye of one Dr. Miguel Dabdoub. Looks like a good riddance to me.
The plant in Durant is ready to launch back from 2005?? Launch it did. Then it lost money and then it shut down. The facility, if it still deserves that name, has not produced a drop of Biofuels since 2008. A truly relevant link…
A cellulosic Ethanol link from 2007? Care to show me how that one is going? Just how much R&D expenditure has there been? I read all of the financials from 2005 and never have seen a penny in an expense line on any income statement for R&D. Also, where is this cellulosic competency in the critical success factors outlined by EVFN in their Q1-2010 financial filings? The couple of university partnership deals that EVLN struck are window dressing at best and made for a pretty PR. To move the needle in that arena, millions upon millions of dollars in R&D are required, not a $10,000 retainer fee to gain rights to negotiate should WERC stumble upon something. How much cash does EVFN/EVLN own combined?
Earth Biofuels faces Chapter 7 from 2007? Can’t believe I am somewhat defending the company, but if the involuntary case had been successful (remember, Chapter 7 = liquidation, Chapter 11 = reorganization), we wouldn’t have to have this conversation at all. To jog your memory, the petition for Chapter 7 was withdrawn in exchange for the LNG plant swap that loaded all of the convertible debt onto PNG. Which, of course, was the precursor to that company’s demise. How is this at all relevant?
Another cellulosic ethanol link – we get it cellulosic is great. Too bad nobody can produce it on a commercially viable scale. That includes Iogen, who spent 10s of millions on R&D annually and is supported by Shell Oil and has the likes of Tom Daschle on their board. Relevance to EVFN --- nil. Likelihood of EVFN with $0 in the bank account beating the big boys to a groundbreaking discovery in the cellulosic arena --- less than nil.
The Red Chip Conference Call Transcript from 2007? Hilarious. Name one goal mentioned in that link that was accomplished. To make this even funnier, that was back in the days when this company intended to manufacture Biofuels on a large scale (that’s when I still believed in them myself, for the record), not compete with Mandeep from Pakistan over gas station leases in Topeka and Wichita, Kansas. Motiva relationship – gone, Bio-Willie brand – gone, Dabdoub –gone, Doug Jones –gone, Joe Wallace – gone, Durant –idle, Danville, IL (the partnership with Bunge et al – gone (given up as a token in a recent settlement). This is exhausting, I think everyone gets the point by now.
Same Vertex link from above (albeit a different source) – no new developments to discuss
The Vertex 10-Qs, Proxy and 8-k regarding Vertex accomplishments, and Vertex website – we already discussed this matter. No one is disputing the fact that Vertex exists and is producing. I don’t claim CMT does not exist. Where is the EVIDENCE that Vertex Processing LP owns 99% (or anything for that matter) of CMT?
I read all 4 links cover to cover and it is devoid of factual evidence. You have not delivered on my question. Instead of churning out link after link, just answer this one question. Show one current relevant link that will establish this ownership relationship. Do what I did with respect to South Louisiana Ethanol. Post a section that contains your point and supply the link as evidence.
Please answer me how this gem of a resource has not been mentioned in the forward looking critical success factors either? Could it be that EVFN does not have a claim to these resources?
Overall, I’ll give you an A for posting effort, but an F for actually answering the question. Your response more closely resembles a filibuster than a forthright effort to be open and truthful. I know, you’ll call me superficial again. I really don’t care, but rest assured that I read all of your links and there just was not anything of relevance to our discussion.
For your next post, please save me the time and point me straight to the Vertex Processing/CMT ownership percentage. I no longer require any substantiation of your Chapter 11 point. That one is done and over, just as I said all along.
One more thing:
Recognize this post?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40991224
"You may call me a pumper if you wish,but I challenge you to cite the evidence. I am retired from over 20yrs of various law enforcement agencies, I know this ploy well. Continue down this path if you feel you must. I have lots of time."
It appears to me you should have ample time to lay out your position with a little more precision and less vaguery. Challenges work both ways.
I only ask for two things:
1. How does EVFN own any part of the operations of Vertex Inc as laid out in their 10-Q.
2. How would the PNGX past tense Chapter 11 situation and subsequent emergence as a private company affect EVFN going forward in a material way.
I don't think that is asking too much, or is it? Remember, be concise!
I see, the old 'superficial' and I don't have time to show you. But you have time to post a reply...
Let me sum this up for you:
You came here claiming that EVFN is in Chapter 11 and you couldn't prove it. You supplied a link to a closed case with no relevance to the matter. I am not misconstruing anything. I read your links, they proved irrelevant.
You claimed EVFN has operating facilities, but I proved you wrong within 5 minutes because the company is not related to EVFN at all. Don't want to discuss the difference between Vertex Inc and Vertex Processing LP? I mean, I could open Apple Processing LP by dropping by the courthouse tomorrow, but that doesn't give me a claim to Apple Inc. whatsoever.
SHOW me the fact that EVFN owns any part of Vertex Inc.
And if you choose to reply, that shows me that you have enough time. Why not go a step deeper and prove any of your claims. Real links, not those that have no bearings on the company whatsoever.
By the way, what is incorrect about the equity method? What is superficial about a valid accounting method?
Put up or shut up. Where is the beef? Gives us a link. Be precise and detailed. The board community is eager to be convinced. If you want us to believe you, you have to do better
Good for you.
Let me know how it works out. One man's accumulation is another man's dilution.
Give me a break on your lawsuit claim.
We have all followed the story where EVFN spun off the LNG plant along with a ton of corporate debt and became a minority stockholder as a result. When PNG emerged from bankruptcy - predictably curshed by the debt load - (hint: the story is over - the proceedings are final for a couple of months now), all equity including the minority stake was wiped out, PNG is now owned pro-rata by its debtors including the debtor in possession. EVFN only ownes a minisule stake based on some trade A/P at the time of the bankruptcy.
This story is and has been over, and that has been confirmed by the now former Investor Relations firm CSIR.
Will you shed some light on how your facts tell us anything to the contrary?
As to Vertex, I wasted some extra time just to make sure I don't misspeak: Here's a quote from your link: Vertex Holdings, L.P. and CMT are majority owned and controlled by our Chief Executive Officer and Chairman Benjamin P. Cowart. There is not a single tie-in to EVFN. The only link is Vertex Processing, LP, which EVFN owns 49% and is stated as dormant. Just to be safe, I searched the 10-Q and the 10-k for a single reference to Vertex Processing, but there isn't one.
So where is your point on this issue?
Besides, where are the financial results of Vertex referenced in the EVFN financials? Even if you only owned 1% of the entity, you would account for it using the equity method of accounting.
How come EVFN hasn't been able to pay Vertex pursuant to the settlement struck from Vertex' suit? Couldn't they use their share of the operational cash flows?
I won't delve deeper into the MM discussion, because neither of us can back up a solid position with facts. We can all observe trading patterns and none of us can see behind the motivations.
As to wasting time, you state in another post that you have been following this company for over 3 years now. A rough guess makes that a trend from a split-adjusted $10 per share to $0.0001. And you have nothing better to do than to go on a message board and tell all the folks that have been burnt alive by this thing that this is all based on rumors, innuendos and falsehoods?
Get a grip!
I think I am well qualified to give asset valuation lessons. You on the other hand have apparently not heard of the accouting principle of full consolidation, in which assets of subsidiaries are accounted for on the parents financial statement if they hold a controlling stake. Why won't you show proof that the facility you mention is producing and is actually owned by EVFN. I don't see anything in the section of subsidiaries at all.
Wouldn't you see cash flow and earnings appear somewhere on the income statement?
Also, if Vertex is producing, how come it is listed as dormant in the summary list of subsidiaries as of March 31 2010??? If the relationship is so fruitful, why would Vertex sue DM for breach of contract?
The debt they have on their BS is the same debt they have had for a while. Why don't you show me the PR or filing where they received financing or show me where the alleged money shows up in the statement of cash flows, specifcally the section on cash flows from financing. It doesn't, doesn't it??
Just because you call it a fact doesn't maker it a fact.
By the way, on one of your other posts, you claim EVFN is in Chapter 11?!? How come that has never been mentioned anywhere. Wouldn't you think that is would be just a tad material to require disclosure to the investing public.
You are simply striking the same tone you did a year ago without regard what transpired and you act as though most guys aren't down 99%.
Back to your hedge fun point, since I am clearly a financial neophyte, I am eagerly anticipating to learn how 100 share trades are the markings of hedge funds. This is news to me. On the other hand, have you ever heard of Market Makers?
Once again, I ask for anything you can produce to substantiate your claim on gas stations? Care to supply any links on the Ethanol plant?
As to the share price, once can argue that the market doesn't always value all entities properly, but in the case of a company going back to whence they came after a 600:1 reverse split, I think the market has gotten this one right.
Unless, of course, everyone should heed your advise and buy buy buy, as it is just such a tremendous value at this price.
I am getting tired of every now and then, a cryptic poster is coming along that has "inside sources" and knows of things that they can't reveal or ahead of time and the company never even made public. If you know something, lay it bare. If you can't stop wasting anyone's time.
Don't you think that if they had operating facilities, Dennis "No intention is small enough for me to PR" McLaughlin would have made that known?
Well, I'll bite...
Are you aware that a company's valuation occurs on net assets which is assets less liabilities? That being said, I don't feel this is out of whack at all. Quickly, take a deep dive into the balance sheet and tell me what the net assets are.
This company has not produced any revenue in years, is no closer to operating than it has been over the past 18 months. The only thing transacted is the selling of shares, and that is an undeniable fact. Where is the Ethanol refinery you speak of in the financial statements? Is it listed in the assets somewhere? Is there any money spent towards making it operational?
Have you seen a hint of capital expenditures or investment over the past years that would give one at least the glitter of hope that the business plan is progressing? That is a fact that you can easily research.
I can just smell all of the hedge funds that want to be part of this juggernaught with its grand market capitalization of $140,000. The only thing you'll find is the guys that were stupid enough to once loan DM and company over $50m when biofuels were the hottest thing on the planet and all kind of smart (and stupid) money kept rushing in just to not be the one guy left out. Have you seen them loaning any more money?
I'd love to hear your take on how things have been going in the right direction and how the company has anything to show for all the shares they sold over the past year. Remember: 400m to 98b -> R/S back to 163m back to over 1.4b.
Heck, I'll take a current picture of any of their alleged gas stations, Durant, anything you can produce given you have all of the facts...
Everyone has a right to an opinion, but if something over years walks, looks, and quacks like a duck, you shouldn't be surprised that the general populace is starting to think this may just be a duck.
By the way, I can go on and on as well. And if all else fails, I just point to the share price and yell "Scoreboard".
And your point is?
This is by far the worst PR I have seen in quite a while and it is clearly another weak attempt to kick up interest, seeing the dilution machine was sputtering for a lack of buyers.
I said it before and I say it again: Whoever falls for this non-sense at this point doesn't deserve much better.
By a quick count on Yahoo Finance (not official):
Fluff PRs about share structure/dividends etc: 12
Fluff PRs about letters of intent, desired outcomes etc: 4
PRs of substance about operational accomplishments: 0
That is all you need to know
Haha, actually read in the SWRS financial report that the company intends to (and I quote) "apply cutting edge technology to recover the precious metals from the soil".
With the current cash position, it will most likely be closer to 3 shovels and a wheelbarrow... They couldn't afford a tank of gas for an industrial scale excavator.
Fascinating!
I would love to have a face to face discussion with DM to understand his perspective of what the market cap of a company with $2,500 of cash, negative working capital, $0 of revenue and $1.5m in G&A expenses a quarter should be worth.
Clearly he thinks it is undervalued, which baffles me to no end.
Maybe, just maybe he should focus more on creating a sustainable revenue stream and controlling expenses in ANY of his terribly run companies rather than to complain about the market giving him the shaft.
At any rate, whoever falls for his deception in this day of age and with the ruins he left behind in his illustrious career so well documented all over the web probably does not deserve any better.
Nonetheless, it infuriates me to no end that he continues to get away with it.
Alex,
I think you are missing the obvious here. Maybe the scope at which this company has diluted in the past has dulled your senses, but you are in fact arguing that having the O/S go from 169m to 1.4b in a mere 3! months is not significant dilution. That is increasng the O/S 8-fold and dilute existing shareholders by 87%!
This is coming from a company whose goal it was to reach a share price of $0.25 post the original reverse split. That would have been a market cap of over $40m, but instead we are down to $140,000. Riddle me this.
And, by the way, this is the company that intended to reduce the A/S to 1b, but that notification must have either gotten lost in the mail or the dog ate it.
You ask what the company has to gain by diluting at the $0.0001 level? You should probably ask DM why he did it the last time - less than a year ago. Seemed to line his pocket, didn't it? Ask some of the guys who were putting in their money about a year ago and start with that poor guy Perspective who lost 25 grand on this.
Shouldn't it tell you something if a company is that screwed up that they can't file a financial report on time, maybe just once?
I wonder just how many hours a week the fabulous Mr. Farmer is putting in. What is his pay again?
For all of you who, for reasons beyond my comprehension, still believe that management is on the up-and-up and has the shareholders best interest in mind, I have some disappointing news.
Reading through the revised annual report, especially through the subsequent events section, they still fail to mention the default of their gas station leases and the bankruptcy filings of WN Truck Stop, LLC.
Coming from the company that frequently announces the intent to lease something here or the desire to expand a non-existing product line there, that is an interesting double standard.
To add insult to injury, they are still planning to complete the Durant facility by the end of Q1, or 43 days ago.
I am with Freemaya, next time the O/S nears the 100 billion mark this should be shorted to kingdom come. There's not many certainties in life, but this is beginning to shape up like one.
Speaking of court, will you ever admit to being 1000% wrong on your claim that EVFN will somehow obtain the PNGX assets through bankruptcy?
Why don't you pull up a 5 year chart for this company and then ask yourself whether this management team deserves the benefit of doubt.
So many people lost that much money in this stock that they need it to become a 10,000 bagger to break even. Does that happen to many sound companies run by honest management with the shareholders interest in mind?
Explain to me, by the way, how DM never got around to reducing the A/S to 1B as he announced to shareholder post R/S. He surely didn't miss on that because he wants to STOP diluting. Do you think that is an ethical thing to do?
Isn't it amazing that the 80% owner of these LLCs failed to disclose this very salient fact in their own annual report that came out 8 days after the notice of default was received?
I also must have missed the PR whereby it was announced that EVLN would acquire 20% of these LLCs. I wonder what EVFN received as compensation for the 20%. Probably another opaque stock transfer.
Reading further, it appears that the big pillage and plunder of EVLN has begun with a mere $3m in compensation expense for one (!!!) quarter's worth of work. We have seen this movie played out before, yet all it proves is that the great P.T. Barnum was right.
While all of that may be true, although I rather doubt it, I think we should not forget that investors here have been all but abandoned for over a year now. No financial filings, not even the random and inept press releases that we all enjoyed and laughed about.
What makes you think that this management is working for you, the shareholder? What have they done for you over the past three years?
Obviously????
"Obviously this decline is being caused by professional naked short and regular short selling "
Do you know what you are talking about? This company has a terrible track record of accomplishments and has a history of overpaying management. Look at the reteined earnings of negative 200m. That means this company has lost a total of 200m since its beginnings. That is management's fault only. That has nothing to do with the market, shorts or anything else.
What goes down will go up is what people thought when this stock went down to $0.0001 six months ago before a 600:1 reverse split. Now, we are down to $0.0003 again. There is not a signle investor that is currently up, given we are at an all time low.
Give me a break about manipulation. Thei track record speaks for itself. Just wait where the O/S is in the next report, given the float was 98m at 12/31, but we traded almost 600m this week alone.