No one knows what the November CD was about or for. The company had production outages thanks to hurricane Ike, that means their revenue was cut off completely, but they are back up and running and revenue is flowing again. We know that there was data reprocessing for the Lone Oak lease that was also due back in November. I already addressed the Watford statement. Technically the statement can be correct that the company is not repurchasing shares for ITSELF, and still be repurchasing the shares to repay the CD if the note holders allow it. It's the only way I can explain the share surplus and daily heavy selling, thats share recycling. If this deal has been made, it puts the company in a good advantage to retire the CD's, and then once done, they might actually still be holding some shares that at that time that can be retired. I don't see the note holders only taking a partial recovery of their investment.

Charts do work for most stocks, not for this one. There are too many outside things going on with this stock, and there is way too much of it out there. There has been a dark cloud hanging over this stock for a long time, so until the clouds clear, and we get some direction of where the company is heading, charting will be mostly useless.

All cars on the road can be retrofitted to run CNG. There are kits available to do so. Running the price of CNG through the roof wouldn't be a benefit to make the change though. If it's more expensive then gas then no one will want to use it.

EDIT:

Ok, price an Natural Gas is ok, you were posting another companies stock before, that violates the posting guidelines.




Rule 9 from the handbook:

http://investorshub.advfn.com/boards/complex_terms.asp

# constitutes spam or off-topic content, which are defined as:

* Posting the same or similar content to more than two (2) boards;
* Sending the same or similar unsolicited PM to multiple recipients;
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You need to stop posting other companies stocks in here, the Mod Squad will just keep removing them as it's against the posting guidelines. I figured I'd let you know why they keep disappearing since no one has told you yet. The are considered Off Topic posts.

The B/A size is really irrelevant, doesn't really have any meaning. Every MM (market maker/broker) that is involved in buying and selling the security enters a block size into their system along with the PPS on the bid and ask. Whoever has the largest block size will show up on you viewer, but that doesn't mean he is the buyer or seller, just the way the system sorts from highest to lowest block size. Each broker like Ameritrade, E-trade, Scott trade, etc... uses one of the MM's/ECN to route the trades through or handle those trades on both the buying and selling side.

That is why I suspect the company has been able to recycle their shares, repurchase them just for the purpose of repaying the CD. On the Senior CD there were 12 note holders, they were not being paid on a 1/12 monthly payment, they were being bought out when they each individually started requesting their conversions. So that leaves only a handful remaining note holders to negotiate with.

And there in lies the problem of another A/S increase. We already saw on the release of the last 3 billion shares that the BID dried up from the massive dumping. We saw sometimes NO ONE on the bid for up to 20 or 30 minutes. Another A/S increase would cause an immediate sell off right back down to .0001. For every $1 million in debt left to convert, the company would need to create another 12 billion shares. With the guesstimated $1.5 remaining the company would need another 18 billion shares. The MM's would not want to BUY and HOLD 18 billion shares that they couldn't sell. They'd have to be able to sell 9 billion of them to retail to just break even. We know they already have a surplus of over 2 billion shares now that they haven't sold, there is no demand for them.

I usually check BUYINS.NET for the latest greatest SHO list:

http://www.buyins.net/

What bored was talking about was last years FTD list from here:

http://www.failstodeliver.com/

Well I can give you the basics, not gonna go through the whole time line again, already posted it way too many times over the last 9 months.

Naked shorting, dilution, A/S increase, more naked shorting, another A/S increase, failed well, financial sector collapse, change in the naked short rules, more dilution, hurricane Ike, and more dilution. Not necessarily in the order I wrote it, but basically sums up all the bits. It was a perfect storm for 6 months from June until December 2008. Lots of stupid people (CD holders) got greedy, boxed themselves into a corner by naked shorting themselves into oblivion and making it hard for the company to pay it's debt. Now they have to wait and be patient or force another A/S increase, possibly making it impossible for them to sell any of the shares they convert into if they forced the issue.

Issuing more shares would cause the O/S to grow, hence the term dilution. This would severely limit any growth in value of each share of stock, and if another increase were to happen, we'd be talking a huge increase from where we are right now. The stock would fall right back to .0001-.0002, eventually the MM's would stop buying and retail would dry up completely, which would scare the hell out of the MM's and keep them from buying shares they can't sell. The CD holders would basically be holding worthless shares they couldn't sell. That is why another A/S increase is a terrible idea for not only us the share holders, but also the company and the CD holders. It would be a lose lose situation for everyone.

If it were negative then the CD holders would be screaming for their shares so they could get out and head for the hills. They wouldn't want to hang around and face not getting repaid, so that theory falls apart.

Because there is nothing really that special about the 10K that will make much of a difference in the way the stock trades for the next month. The 1st quarter 10Q out next month is much more relevant and important and will be much more recent with whats actually going on until the end of March, 2009. The 10K will only cover information that is already 4 1/2 months old.

MM share balance now at 2.231 billion shares.

Looks like they strangled it right into the bell, of course seconds after the bell we got our .20. Friggin MM's and their games.

I agree, thats why I keep saying there is nothing to panic or worry about. I have stated at least 4 times today that the filing can still come out today or tomorrow, and that the world will not come to an end. Thats why I posted the 3 instances of the company having been late before after we were just told that it has never happened.

Here's 3 that I could find where they were 1 or 2 days later then expected.


NT 10-K Notification that form 10-K will be submitted late 03/29/07
Annual report filed by small businesses 04/17/07

Notification that form type 10-Q will be submitted late 11/14/06
Quarterly report filed by small businesses 11/20/06

NT 10-Q Notification that form type 10-Q will be submitted late 05/17/05
Quarterly report filed by small businesses 05/23/05

3/29/2007 company filed it will be late, 10K came out 4/17/2007.

Yes, but as I have stated, they can still file today or tomorrow. The world is not coming to an end. They will get notice that they are out of compliance and that an E may get attached to their stock. Then they might get the E, and they can still file and the E comes off. Sure they can just say screw it and get delisted to the pinks, but I don't think that its time to panic yet about that possibility.

Don't get me wrong, I'd much rather have the company file on time, I'd much rather not have the O/S where it is, but I have no say. I am just a share holder, I am hoping for the best. I just choose not to panic every time the company decides to turn into a sloth. Nothing is going to change in the next 30 days except maybe the E. The company will still have the same production, the same revenues, the same business plan. If and when they file, then there will be more complaining about something. The company could come out tomorrow and report a 10,000% gain in production with $1 billion in revenue, and someone would find something else to complain about.

Thats nice, but what do you think your going to accomplish by complaining about it in an open forum? Do you think anyone in here has any control on what or when the company does anything? This is an open forum for people to talk about the company and the stock, the company itself has no involvement in here. Whats the punishment, they get an E put on the end of the stock and then have 30 days to become compliant. Whooppee, it's not the end of the world. If they release it by the end of today or tomorrow, nothing will change except for it's late.

Again, if you want answers, complain to the company, they are the only ones that can do anything, complaining in here is nothing more than stomping your feet because you didn't get your way.

Lather, rinse, repeat.

Yeah, real different because the markets been open a whole 2 hours and 15 minutes. They can still file by the end of today, they filed end of the 31st, technically that becomes the next business day after the market closes. Every 3 months it's the same thing:

"Are we there yet?"

"Are we there yet?"

"Are we there yet?"

"Are we there yet?"

"Are we there yet?"

If you want answers e-mail or call the company. We are all just share holders, we read the PR's, the news, the 10Q's and 10K's, send/receive e-mails if they get answered, and make phone calls like everyone else, that is the only source of information we have. Other than that, we're in the dark just like you, some of us choose not to panic every time the company misses it's deadlines, like it always does.

People selling at the bid price offered, maybe they bought at .001 and just decided they want to lock in their profits. Doesn't mean something is going on. Stock prices go up and down, there is not always a reason why.

I'm quite aware of the filing date, that still doesn't change the fact that the company always files at the last second and that we have the same argument every time the filing is due. They filed the NT10-K after hours on 3/31. So technically they are late, but we could still see the filing today or tomorrow. If anything, the company is consistent with keeping us on our toes.

Looks like another day of the same old same, should we call the close early?? I say we close AGAIN at either .20 or .21 as we have for the last 14 trading days, with the up tick coming in the last 10 minutes as usual.

Because we have this same conversation every 3 months, the company always waits until the last second to file, and every 3 months we have the same panic that the company hasn't filed yet, and then out comes the filing. Someone posted on Yahoo that their Ameritrade account shows the NT10-K was filed on 4/2, everywhere else I've seen showed 3/31. We could still see the filing today, or maybe tomorrow. I know we'd all be better off if the company would just file on time, but they never have filed on time, but have always filed. The only advice I can give is send an e-mail to Raley and Watford, or call them and ask what the hell is taking them so long, I'm just a share holder like everyone else.

I'm not worried yet, they still have time to file to remain compliant, late, but compliant. If we don't see it by the end of tomorrow, then there may be cause for concern.

Basic law of trading, the bid is .0004 and the ask is .0005, so when someone sells, the stock goes to .0004, when someone buys it goes to .0005.

Well today was everyones favorite day of the year, tax day, so maybe the 10K will show up a day or 2 later than expected. Seems that lots of companies are missing their deadlines lately.

Gotta love the close, the bids and ask started moving up in the last 30 seconds, and we closed with a .21. Yet the bid is .21 and the ask is .2099.

Not only did he stall the stock, looks like he broke the forum also, it got quiet in here.

Yeah, its still not doing anything, so I guess thats different. Beige book news coming in a few minutes, maybe it'll get the market moving today. It feels like we're still on a holiday trading schedule here. This is worse then watching paint dry today.

They already filed the NT 10-K on 3/31, and I just posted the definition of the NT 10-K in the previous post.

What Does SEC Form NT 10-K Mean?
A filing with the Securities and Exchange Commission (SEC) that a company must submit when it is unable to file its 10-K, or similar form, on time. After submission of the SEC Form NT 10-K, the company must then file its 10-K within 15 days. The 10-K is an annual report that provides a comprehensive overview of the company's business activities. This report must be filed within 90 days of the end of the company's fiscal year.

Not a problem, next on the list will be the onslaught of trolling and bashing when the 10K comes out, as people will find and post all the obligatory "this could happen, might happen " statements in the 10K, happens every quarter. Doesn't matter if we get good news that more debt has been payed off, revenue has increased, and production has increased. I'm sure we'll get postings of the same arguments that we've had for the last year, just because the language is still in the yearly report. All I can say is prepare to read between the lines, the noise ratio will be cranking up in here shortly.

"Ooohh a spanking, spank me first"

"No me, I've been bad, spank me first"

"You must spank all of us"

See what you did, you made a promise of earnings in 8 minutes, and you stalled the stock, shame on you.

They do have revenue, but the question is "how much debt remains" and "how long will the revenue be tied up for paying off remaining debt". We have been given no details of how the acquisitions will be funded. We have to wait for more information. It's possible that drilling has started at Lone Oak, that debt has been repaid, and they now have free cash flow. It may be possible for some form of conventional financing is being worked on through the recovery act for small business and energy independence. Maybe the company has some VC capital coming in, some deal with Bristol. No one knows anything except for the company, and at this time that information has not been shared with us. That is why we wait for the 10K which is technically due today, and next months 10Q which should be out between May 15h to the 20th if they file the obligatory NT10-Q extension.

It's not abnormal for a company to start on borrowed money and eventually turn profitable. We have no idea why Raley took the toxic financing path, it may have been the only way at the time for him to get the money he needed to start the company. The company only started generating revenue when production started coming online I believe some time between March, April, or May of 2008. All was on the up and up until the perfect storm hit. You had the May CD come due, followed by a failed well at Lone Oak, followed by naked shorting, an A/S increase, then the September CD coming due, followed by more naked shorting, the financial system collapse, followed by massive conversions to cover the naked shorting, new naked short rules, more conversions and then hurricane Ike, followed by another A/S increase, and the November CD coming dues, folowed by more naked shorting. The company was on track to become highly successful and fully profitable if Lone Oak would have been a viable well. They are making revenue, but the CD's are stalling the company from taking any steps forward, btu these have got to be close to being paid off. Once the CD's are gone, the company can once again concentrate on getting more production online with it's limited revenue, thereby increasing it's revenue, and can then start to repurchase shares.

As far as the acquisition goes, there are no details on how they will be financed, so it's another "now what" thrown into the equation. If Ness does have actual leases that have been drilled and have production, then it's an instant increase in assets, and revenues. There has been some discussion that Ness let the maintenance go on the wells they have and they are off line, so these would have to be reworked to bring that production back on line. These would be cheap expenses for quick production increases, if they exist. But at the same time, Ness might just be a ponzi scheme, and that is what Raley is currently investigating, that deal may go up in smoke and that will be one less thing to worry about.

Maybe they'll post better then expected earnings, post record profits, and the stock will drop anyways just because Wall Streets lost it. Intel's earnings exceeded expectations and it got slapped down in after hour trading. Someone needs to remind these morons we're in a recession, they need to lower their expectations and reward companies when they do well, not punish them.