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Right. I'm sure he bought the shell for some other reason than to make money. lol But he's doing it the right way, financing a successful startup business. Eventually he will cash in those shares because that's why he's still holding 45M. But he hasn't yet and I don't expect him to until UNRG develops a little more. Why sell at $.10 when you can sell at $2.00 or $5.00 in a few years?
Speaking of misleading, what role does Sam have with United Energy? And why should I care about him? He works in capital finance now, not oil/gas. He owns less than 20% of the shares (which are restricted) after he sold his majority to Guinn. As far as I can tell he is not employed by United, not a director, nor a paid consultant.
In other words, not very relevant to what United Energy is currently doing.
No one's dumping lol. And I'm not proposing anything. Buy or don't buy, what's it to me? I'm very comfortable with what I own.
This is the OTC. What did you expect? There's no easy money here. It takes time and patience. Stick to your 2% gains on NASDAQ and be happy.
The CEO's shareholder letter last quarter spells everything out nicely what they're trying to accomplish. UNRG is a on slow and steady path toward prosperity. I originally bought an empty shell 3 years ago not knowing what was ahead. Rumors were a cannabis company was the buyer. Turns out I lost a chance to make money back then and got stuck holding a bag. But I couldn't be happier with how it turned out now. This sector is fire right now. I'll keep holding long and accumulating as things develop.
Next quarter should be better. They didn't start ramping up operations until late Q4/Q1. I'm not expecting a blowout number, but they have demonstrated a path to profitability with opening up some wells incrementally flowing and getting the NG compressors online. Maybe it takes a few more quarters, or maybe the oil/gas price the past few months gets them there early. I've been here since inception, so not worried if the next report is a home run, or it takes until next year. Either way, they will make the win happen. 100%.
Please expand on what type of pattern you think is underway. UNRG was founded slightly less than 3 years ago. Does the pattern hold or no? Thanks.
So, what influence does Sam Smith have on United Energy? Anything? He's not employed by the company. Not involved in operations whatsoever. He's just a minority owner after he sold his majority shares to Brian Guinn and handed him the keys. Sam is a finance guy that got the ball rolling on this startup. This is Guinn's company. And if all you got on him is a pic of him holding a large check, I have to lol.
And regarding Sam's past with Pilgram, we've been through this a few years ago but you just keep ignoring it. Sam took over after the CEO and Chairman were fired. Whatever happened was on them and had nothing to do with Sam as he inherited a dumpster fire no one could put out, and the company ultimately failed. And again, Sam doesn't work for United Energy, so it's a ridiculous argument to bring up anyway.
That facts are, UNRG is a new company with big ambitions. They may or may not make it, but from what I see them doing, they will succeed. I don't really have any question given the current environment.
I live a few minutes from their Plano office. Should I take a picture of the suite, or nah?
I wonder why UNRG is in the alternative energy section on ihub? They're primarily gas and oil, with some ancillary components.
I've owned this for 3 years. It goes up, it goes down. It's not unusual in that regard for a startup with little revs and short history. We have yet to see the type of move we're expecting. I think we're maybe 6-18 months from that. Sorry you bought at a recent high, but that is no indication of a pump and dump, just bad timing on your part. Stick around to find out. The next q2 report could be interesting. And FYI, the insider's shares are mostly restricted. You can blame day traders and some recent twitter mentions for the volatility, IMO.
I read it as investor relation/stock promotion firstly. Then they access their equity for growth acquisitions by financing at a higher stock price. Should limit the dilutive impact somewhat if it works out.
If that's the strategy, it's really nice to see the company trying to protect their shareholders as much as possible. You don't see that very often in the pink markets.
I wonder what the chances are they sell the ticker back to Disanti for another custodian/merger play? I don't buy that the shell is broken. More likely they didn't want to do what it takes to get financials in line. The previous owners are irrelevant.
I don't think it was a scam. Just incompetence. They weren't ready to go public when they did. The accounting and filing requirements takes money they weren't prepared to spend. I didn't see where they sold shares or pumped the stock. It started with a custodianship play that didn't pan out. Yet. How many of those ever do? If we're still in this, that's more our fault than Doki's.
They are in expert markets. So, market makers are not allowed to trade/show a bid/ask for the ticker to the public. Obocon needs to update their info and get back to pink markets before we see any volume. They don't currently have transfer agent on file with OTC, so nothing can happen until they decide they want to spend a little money on the back end to get some liquidity going on their equity. That's the only reason they went public to begin with so it's strange they let it lapse. Most new companies would have converted some of their shares to cash to grow the business. OBCN seems to not care at this point.
I haven't heard any comments about the Q1 report. 7K revs was quite a bit lower than I was expecting (but still better than zero!). I had thought they were a little further along in getting these wells operational at the first of the year. Maybe next quarter we hit the 1M mark? Or is that asking too much?
How the hell do you trade it? No market makers. I would totally spend the $6.95 trading fee to sell my $3000 worth of shares for $3.50 just so I don't have to look at it anymore.
It's almost as if I lost literally all my investment. Oh wait...
Maybe the Doki will surprise us in a year or two and revive this disaster. Anyone feel like filing a custodianship claim? This ticker is a deader. .0002 and I can't even trade it to get my $1.50.
TD doesn't report info for OTC tickers accurately. They never get the share count or financials right on any of them. You have to go to the otcmarkets to get any pertinent info.
They look current on filings to me?
https://www.otcmarkets.com/stock/unrg/disclosure
They may have made some money in Q4, but I suspect it'll be on the low side as they were just starting ops. Most likely, we're looking at Q1 to see the boom we want. Thankfully, that's not long to wait for that filing.
Frankly, we don't know they've pumped or sold anything yet. Are those wells they bought any good? Have to wait for the Q4 before we see the revs and this one takes off, IMO. I've been holding this since 2019, so I'm fine letting it simmer. Very excited for this year though, for sure.
Still here. No reason to sell for fox nuts just yet. Hopefully these guys still have a plan get current and let us know what they're doing for their shareholders. Or not. Whatever. Stocks suck. lol
Amended filing out on OTC. Should return to pink current soon.
I'm waiting until next year to sell. I said I'd give them 6 months from when they decided to hire new lawyers and lay low until they've got this thing sorted. They've got a little time left, but not much. Besides, I already have enough losses this year. This one can wait. lol
If they're able to show some revenues, I think it'll go higher.
I'd be a lot more excited if they could post some revenues for Q3. I'm not even sure if any of these acquisitions in their PRs have closed yet. An official filing with the transaction details would be just as nice.
It appears the best ROI is in natural gas right now, and that's what they've bought. Did we know if they bailed on Bakken? I also recall an LOI for a field in West Texas last year. I'm assuming that deal is not closing either.
If they don't dilute the hell out of it with these acquisitions, that's looking likely. :)
I bought at $.48 two years ago. Been holding ever since. Trying not to get excited, but it's looking like it might have been worth it.
Which one of you dumped your shares today? lol
Have you seen the volume traded the last 6 months? It's miniscule. I wouldn't worry about it, unless $500 buys bother you.
The COO doesn't run the company...
We'll see if there's any change in assets on the next earnings. It's possible much of what's on the website was still in private hands until recently.
New website up. https://www.unrgcorp.com/
I said in May when they hired the new law firm to get them compliant, we had 3-6 months before anything happens. We've got a ways to go still. Maybe next month if we're lucky. But by end of year we're either golden or it's time to move on. IMO.
They need to take a hands on approach with their stock holders. Why did they go public again?
Not aiming that at you, I hope you understand.
Just waiting to see how many foxnuts they sold this year. If they ever bother to inform us.
Was really hoping to see a PR or something now that they're current.
I'm already in almost 2 years. Another couple months ain't no thing. If they're not ready to go by Jan, I'll take whatever's left and move on. I've always considered these sort of start up plays as a probable loss from the beginning, until proven otherwise. Helps me mentally lol. Sometimes they show up, sometimes not.