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They have put out a press release about possible reserves.
4. Energy industries: Computed or estimated quantity of hydrocarbons or minerals that can be extracted from known fields at an economical cost. The major classifications of reserves according to the level of confidence in the estimate are: (1) Proven: Extensively sampled reserved estimated from seismic data and exploratory holes drilled. (2) Recoverable: Estimated from reservoir pressure and density of strata. (3) Probable: Rough estimate of quantity and quality of the item. Also called indicated reserves. (4) Possible: Estimate based on unverified existence. Also called inferred reserves.
Ed
It has stated that they need $3 million in pretty much every filing for the past six years. They keep burning through shareholders cash with no regard for fidiciary duties. Heck they shelled out $5 million for a mine with no proven reserves.
They are either extremely dumb or extremely crooked - I go for option 2.
Sometimes things are taken the the wrong way in a post, it was meant as a "how the hell would I know?" in a questioning mild tone not a "HOW THE HELL WOULD I KNOW?" in a loud angry voice. You did not touch a nerve, I am sorry I should have worded it better.
FYI - I do not work for the North Carolina Secretary of State therefore I do not know why Solarbroke have yet to be dissolved. Maybe George told them that the annual report was going to be filed "very soon"
How the hell would I know?
Clueless, we are talking about this specific pink. Just because all public companies dilute to a certain extent (especially Pinkies) does not make it ok for George & Dennis to lie and cheat people out of money. Your justification makes no sense, you would not mug someone just because your neighbor did.
The hammer fell once before on this scam company and one day it will happen again.
Glad you have it, how do paying customers get hold of him? Telepathy perhaps?
Must be tricky with the phone being disconnected.
What comes first?
Reverse Split or Company Dissolved for not filing annual report.
Utter garbage. Dilution and mismanagement killed this company way before Chinese market conditions had any bearing.
Mr Bickel needs to seek blame in the mirror not in the Chinese market. He also owes his loyal shareholders an apology for pretty much vaporizing the shares down to nothing whilst collecting a very reasonable pay check.
Hard work? BS IMO.
Such a professional outfit that the shareholders meeting was done over the telephone and the witnesses handwriting is an exact match to George Moores. Can you say FRAUD?
Hey George
Maybe you should address the fact you are about to be dissolved for not filing rather than pulling another 1000/1 reverse split.
YOU BLOODY CROOK
http://www.secretary.state.nc.us/corporations/Filings.aspx?PItemId=4831762
TAO is a dilution machine and you know it. They heavily promote the stock via spam e-mails and paid shills (paid with shares)
Merry Christmas
Merry Christmas everyone
I should imagine it will be sub penny again within six months, especially if they promote it hard.
Witte
Its dead there are no opportunities for SLRW.
Move on, its over.
Different company on that link, sir!
Yes but I do not stutter.
If they do not file an annual return by 17th December 2011 they will be dissolved by the NC state.
You are correct it is the ultimate $0.0001 company.
Every time they reverse split the stock ultimately ends up at $0.0001!
It is horrible to watch and there is really nothing more to be said.
Thats the fourth Peacock stock to be exited, I see a pattern emerging.
The only difference being that you have a chance to win on the lottery.
That is your opinion.
The questions should be "how does a newly incorporated company raise $10 million against a property with no tangible mineral value"? and "will any money actually ever change hands"?
My answers are.
A) They cannot, unless they go public and start the charade all over again
B) Probably not looking at the wording on the purchase agreement.
Too dangerous to buy this stock at any price after the DTCC chill.
Speaking of DTC eligible, those companies that have lost DTC eligibility are going to get weeded out too. Why?
Stocks that are not DTC eligible run a strong risk of having trading of their stock suspended by trading firms because of the expensive administrative nightmare it causes. What makes this even more painful is if the stock suddenly gets good volume. That volume will dry up as trading firms suspend trading in that security.
When a stock is not DTC eligible, all the week’s trades have to be settled through PAPER CERTIFICATES; it is expensive and time consuming and most trading firms do not have adequate resources to handle this especially on high volume stocks. To compound the problem, the traders of that stock receive an unpleasant statement the following month because the costs of the administration of non-DTC eligible stocks are passed on to the people who bought and sold the security. This can amount to several hundred dollars for each trader/investor.
If a stock is DTC eligible all transactions are handled automatically and electronically.
More on DTC eligibility…
One of the best ways to lose DTC eligibility is to register stock in any other form than an S-1. Many Pink Sheet and OTCBB companies are still doing things like 504s which is severely frowned upon by the DTC.
Many companies that have done a reverse split over the last year or so have had their stock “chilled” (non-DTC eligible) by the DTC. The reason they are getting chilled is because right after the reverse split takes place, the company registers more shares (usually through a 504) for sale. This pisses the DTC off and they chill the stock and no matter how many resources the affected company throws at the DTC, they continue to be chilled and the DTC becomes less responsive.
So the conclusion I have drawn is simple:
If you want the stock of your company to keep trading, become a fully reporting company and register new stock the way the DTC wants it done.
While these issues have caused much grief lately, I think for the marketplace overall it is going to be of great benefit to both the surviving companies, investors and traders.
We all know that many if not most of the Pink Sheet and some OTCBB companies out there are nothing more than ATM machines for the management team and their “investors”. Those companies that have no money and no business will be left in “no man’s land”. Those companies that do clean up their act and become transparent will stand a much better chance of succeeding in business and in the marketplace. The pool of investors and traders will remain the same or grow while the companies to select from will be far fewer in number.
There will always be sub dime and sub penny stocks to trade and invest in, there will just be fewer and the companies will be more transparent.
http://www.hotstockchat.com/micro-cap-stock-crisis-and-what-you-can-to-avoid-it/
The only revenue this company has ever generated has been through stock sales, the only purpose of TAO is to pay Sikora his big fat salary (he even had the audacity to pay himself a bonus).
FYI I never have and never will invest in this stock, the only reason that I post on here is because I know their MO and I know that their financing is borderline legal.
I wonder if George had some fun ripping people off again or if he actually believes his own crappy diatribe.
I wonder if he looks in the mirror and becomes very proud of what he sees looking back at him.
Does that mean its ok to be a scam because 99% of the others are?
Sounds like warped justification to me.
I never said you had any affiliation the the company. And seeing 1 or 2 jobsites does not make SLRW genuine. They should have 100's of ongoing projects if they really desire to be successful.
Who is the more credible? Ships772 who has nothing to gain or GGII's IR who has a history of putting out hundreds of questionable PR's on a multitude of different Peacock companies.
I have faith in SHIPS's information being correct.
Gold price is completely irrelevant to the direction of this stock.
Does any of this seem to be eerily similar to what has happened over the past 18 months?
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19755 / July 5, 2006
SEC v. HydroFlo, Inc. and Dennis Mast, U.S. District Court for the Eastern District of North Carolina, Western Division, Civil Action No. 5:06-CV-270, filed July 5, 2006
SEC Sues HydroFlo, Inc. and its Former CEO, Dennis Mast, for Issuing False Press Releases
The Commission announced that today it charged HydroFlo, Inc. ("HydroFlo") and its former CEO, Dennis Mast ("Mast"), with defrauding investors by making false and materially misleading statements about Hydroflo's water treatment business, contracts, and prospects in a series of press releases in 2005. Without admitting or denying the Commission's allegations, HydroFlo and Mast have consented to entry of injunctions against further violations of the antifraud provisions of the federal securities laws. Mast, of Apex, North Carolina, has also consented to entry of an order requiring him to pay a $100,000 civil penalty, barring him from serving as an officer or director of a public company, and barring him from participating in offerings of penny stock.
The Commission's complaint, filed in the United States District Court for the Eastern District of North Carolina, Western Division, alleges that HydroFlo and Mast misled investors by (i) mischaracterizing an agreement involving a subsidiary's consignment customer as a guaranteed contract worth $210 million to HydroFlo; (ii) touting a positive stock analyst report as "independent" and "unbiased" without disclosing that HydroFlo had paid $19,500 for the analyst coverage; and (iii) repeatedly publishing false statements claiming that HyrdroFlo subsidiaries were providing filtration equipment and water purifying consulting services to government agencies engaged in Hurricane Katrina relief efforts when in fact the company had not shipped any products, nor provided any such services. All of these false press releases had the effect of increasing trading volume in, and the price of, HydroFlo's common stock.
The complaint charges HydroFlo and Mast with engaging in transactions, acts, practices and courses of business in violation of Section 10(b) of Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder. HydroFlo and Mast consented to the entry of permanent injunctions against future violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. Mast also consented to entry of an order requiring him to pay a $100,000 civil penalty under Section 21(d)(3) of the Exchange Act, permanently barring him from serving as an officer or director of a public company under Section 21(d)(2) of the Exchange Act, and barring him from participating in offerings of penny stock under Section 21(d)(6) of the Exchange Act.
http://www.sec.gov/litigation/litreleases/2006/lr19755.htm
Nothing was filed, you have no proof that the shares were reduced. Just a PR saying so. And my point was "that to reduce the A/S or to PR that the shares were being reduced was either reckless, stupid or criminal"
You are correct it is very difficult to prove intentional misleading comments, however this little gem just over 12 months ago highlights my argument perfectly:-
Tue, Aug 10, 2010 - SolarBrook Water and Power Retires 67 Million Shares of Common Stock in a Continued Effort to Reduce Its Outstanding Shares by a Total of 20%
To the untrained eye this PR paints a picture of financial solidity where there is no need for additional dilution. The pps spiked on this news and many people were left as bagholders.
14 months on and 3 incremental A/S increases (none of which were PR'ed) later can only lead to the conclusion that the PR was a fake and that George knew (or was reckless in not knowing) that the company would very soon need to dilute the crap out of the share capital to keep the doors open.
A more than compelling legal argument should someone decide to take George to task.
Are we 12 months away from financials being very soon? In my mind that statement was false and misleading and if shares were sold on the the back of that PR it is ILLEGAL.
Not to mention all the other BS press releases.