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Here's an entertaining comment on BDGR from a year ago - referencing Great news releases. I'd like to see an update for these folks now. (From Stock Guru)
http://www.stockguru.com/performance.php?id=190
Black Dragon Resource Companies, Inc.
(OTC: BDGR) 2005-08-15 A Stock with Risks. Here is one priced to buy, but only for those willing to take a real risk!
All 3rd Quarter 2005 Results
A Stock with Risks. Here is one priced to buy, but only for those willing to take a real risk!
Warning: This is a much higher risk pick than what we normally do. This is not a listed stock. This is not an "over the counter bulletin board stock." This is a Pink Sheet stock. The risks here are lower volume (lack of liquidity), high volatility, and a lack of audited financials that are publicly available. This means you do not put in anything other than "fun money" or "risk capital" or you are just plain foolish. You will note that this is the first pink sheet we have done in more than a year. I wanted something with a real story about energy that I think has not yet hit. Now for the company: Black Dragon Resource Companies, Inc. (OTC PINK SHEETS: BDGR) - This is a company with some great news releases. Look at this: 08/02/2005 (13:14 ET) Black Dragon Resource Companies Reports Record Breaking Oil Production For The Month Of July 07/27/2005 (12:07 ET) Black Dragon Resource Companies, Inc. Announces Six Month Earnings 06/22/2005 (13:15 ET) Black Dragon Resource Companies, Inc. Announces Increase in Gross Monthly Income by Approximately $275,000 a Month; Company Signs 8,000 Acre Production Lease in Major Oil Field 06/14/2005 (09:15 ET) Black Dragon Hits 7 out of 8 Gas Wells 06/06/2005 (08:02 ET) Black Dragon Purchases 85 Additional Wells Bringing Total Wells Owned to 502 News releases do not make a company. What I do not see (and this is important) is any indication that they are not just "promoting" for the sake of promotion. That is to say they have put out news releases, but they appear to be just the company updating shareholders. Yes, they are doing it to put out good news. They have given us earnings. They have told us that production is record breaking for July. What I like here: First, the share price was as high as $4.90 at times this year. I say at times, we are speaking of just a trade or two. It did many trades above $4, more about $3. Its close Friday was just $0.75. I think there is some opportunity on the upside. I would always think VERY SMALL TRADES with a stock like this. The fool that steps up to the plate and buys $25,000 of such a low volume stock will likely never see a profit, and could see a substantial penalty for the lack of liquidity. Make your own decisions. This one is not like 99% of all other Stock Guru picks. This is a Pink Sheet stock and you should be extraordinarily careful.
I don't believe anyone suggested anything about the Sept 15th date.
Read post 699.
Hmmmm..AMEX initial listing info - "Lookin Good"
(c) A Listing Qualifications Panel may authorize the approval of the issuer's securities for initial listing, notwithstanding the fact that the issuer does not satisfy the initial listing standards set forth in Part 1, under the following circumstances:
i. The issuer satisfies one of the following minimum numerical Alternative Listing Standards:
(A) Alternative A
(1) Stockholders' equity of at least $3,000,000.
(2) Pre-tax income of at least $500,000 in its last fiscal year, or in two of its last three fiscal years.
(3) Aggregate Market Value of Publicly Held Shares—$2,000,000.
(4) Distribution—400,000 shares publicly held and 600 public shareholders, or, 800,000 shares publicly held and 300 public shareholders.
(5) Price—$2.
(B) Alternative B
(1) Stockholders' equity of at least $3,000,000.
(2) Aggregate Market Value of Publicly Held Shares—$10,000,000.
(3) Distribution—400,000 shares publicly held and 600 public shareholders, or, 800,000 shares publicly held and 300 public shareholders.
(4) History of Operations—Two years of operations.
(5) Price—$2.
ii. A Listing Qualifications Panel makes an affirmative finding that there are mitigating factors that warrant listing pursuant to the Alternative Listing Standards.
I don't think the stock is dropping because of delayed financials. The financials should be just fine, whenever they release them. Albeit, I wonder why the Q2 numbers are so low.
The short and long term possibilities continue to look good, if not great.
Betetr marketing, more awareness of BDGR, and continued growth should propel BDGR nicely. Of course, a listing on the AMEX might just fuel the stock price immensely. Here's a look at AMEX requirements options:
http://www.venturelawcorp.com/listing_requirements_amex.html
Some claim? C'mon. Get real. If you're invested n BDGR and haven't read the last 30 PR's, shame on you.
A Basher I am not. An very interested stockholder I am.
REDCHIP Visibility Report dated March 15th - Page 9 "BDGR has never released audited financials, which are expected to be completed for the first time in late April 2006."
Monday April 3rd, 2006 11:31AM PR: The company expects an audit of its year-end numbers to be completed in the next ninety days." (That would be by July 3rd - 90 days from PR release)
Austin Business Journal April 4th, 2006: An audit of its year end numbers will likely be copmpleted in the next 90 days according to Black Dragon."
REDCHIP Visibility Report dated June 2006: "The company...brought in an independent auditing firm, which should be issuing a report in a month or so.
I read what the Company says. I expect what they say to be accurate to the best of their knowledge. I understand things happen which can cause delays. I have not read any reason(s) for the delays in stated timeframes in releasing audited financials. I'd rather have a company tell its shareholders that the audited financials have been delayed for explainable reasons than to continue to read the date has again been moved back.
I don't consider that bashing. Consider it information provided by the company that hasn't yet materialized.If anyone wasn't aware of these earlier statements...
The one glaring issue I see is the 2nd Quarter numbers. For five consecutive quarters their revenue has increased:
151,000
270,000
525,000
709,000 FY2005 Total 1,655,000
1,100,000 Q1 FY2006 Ending March 31st
544,543 Q2 (1,644,543 for Q1 & Q2 combined)
We know some of the wells which were expected to be completed were delayed....BUT that shouldn't have reduced the already existing production...???
And, for the fiorst time, BDGR did NOT release the revenue figure for a quarter, choosing instead to issue a combined 6 month figure - comparing that number to the first 6 months revenues of 2005.
Looking at it one way - a 400% increase
Looking at it another way - a DECREASE of $556,000 from Q1 to Q2.
That concerns me. If you have a production run rate, that rate should increase (or at least remain steady) unless you have something interupting that in-place production.
I eagerly await the audited financials (The same audited financials that were expected in May, June, July, August, and now mid-September.
If I were a betting man, I'd bet the Q1 numbers will show a reduction in stated 1.1M, and more likely reflect a more consistent quarter to quarter representation...ie; not show a $556,000 reduction in revenues from Q1 to Q2.
Just my guess.
60-90 days from now BDGR should have an even greater story to tell - Existing wells being restored to production at the rate of 30-45 month, and 2-3 new wells drilled each month at the much higher yield rates, and perhaps the Gemini deal finaalized and part of the ongoing production. Not to mention additional acquisition announcements. I guess I can wait 60-90 days (and longer)for this puppy to grow. Happy Tuesday!
Best darn Press Release I've ever had the pleasure to read!
Anyone have any idea of the typical time frame from AMEX application to approval and actual listing?
BUYINS.NET: BDGR, DYDP, LBTN Have Also Been Removed From Naked Short List Today
Aug 01, 2006 (M2 PRESSWIRE via COMTEX) -- www.buyins.net, announced today that these select companies have been removed from the NASDAQ, AMEX and NYSE naked short threshold list: Black Dragon Resource Companies, Inc. (OTC: BDGR), Dynadapt System, Inc. (OTCBB: DYDP), Lifeline Biotechnologies, Inc. (OTC: LBTN). For a complete list of companies on the naked short list please visit our web site. To find the SqueezeTrigger Price before a short squeeze starts in any stock, go to www.buyins.net.
T'will be nice when they announce the 170 Well Acquisition generating 4500 B/Mo (in the next 60 days)!!!
Nothing to worry about. I could't agree more - this company is well on its way to some serious profits, and hopefully, some aggressive stock price. They need better marketing!
Not bashing - Hardly - I like the short term and long term prospects of BDGR - I'd feel a whole lot better if the information was (1) Consistent, (2) Timely, and (3) Accurate.
Hard to tell why RedChip got it wrong....
Speaking of RedChip Visibility Reports:
The March 15th Report: "Black Dragon expects to have audited financials and to begin reporting its financial results to the SEC by April 2006." - OOPS. May? June? July? August? Perhaps September?
"BDGR paid RedChip Visibility $36,000 for the RedChip Visibility Program which includes this report." Money well spent, no doubt.
The July 5th Report: "RedChip received 100,000 shares of stock for nine months of investor relations services."
The July 2006 Report: "RedChip receives a monthly cash fee of $10,000 for services and 25,000 shares of Black Dragon stock each quarter."
The August Report: "(BDGR) expects revenues for the quarter to exceed $4M." - OOPS. VERY interesting, considering the quarter ended on June 30th and surely someone must have known otherwise. "RedChip receives a monthly cash fee of $5,000 and 100,000 shares of stock per year.
I eagerly await their September Report - Hopefully it won't reference the $4M quarter expectation again. I wonder what their monthly services fee to BDGR will be....... - OOPS.
Good news - On April 27th the Company stated anticipated revenues of $1.3M for April, and $4M for Q2. Two months later, in June, RedChip reiterated the $4M expectation for Q2 revenues. OOPS - Didn't happen.
On June 1, BDGR stated their current combined production currently exceeds 18,000 barrels of oil per month and growing.
OOPS - End of August statement indicated a record level of 10,000 barrels of oil per month was reached.
On August 7th the Company announced a radio broadcast would include a discussion of the importance of the Gemini Exploration acquisition. Anyone else listen to that broadcast?
OOPS -
On August 2nd the Company announced that the Haynesville Field had been returned to full production (Yay!) Expectation is that production will be 100 barrels of oil per day (that's 3000 barrels per month). OOPS - On August 23rd the Company announced full production was at 2000 barrels per month as had been expected.
Of course, if the math is anywhere near correct, The Haynesville Field will yield an additional 2000 barrels per month (as stated) to the record 10,000 barrels (as stated),
The Shallow rights controversy behind them (as stated) will yield another 2000 barrels per month, and the latest acquisition (Spider Field) will generate another 1250 barrels of oil per month, and finally another 1000 barrels of oil per month (as stated) from the 19 wells in Hosston Field should yield in the vicinity of 16,250 barrels of oil per month - in the September timeframe.
That's GREAT news!
Aug 10,000
Sep 15,000
Oct 20,000
Nov 25,000
Dec 30,000 Barrels of oil repeatedly confirmed as achievable.
I'm hoping they meet or exceed that objective and do not wish for any more OOPS along the way.
The audited financials are months late (if earlier committments by the Company are taken seriously) - Maybe they'll include the first two quarters of 2006.....
A 36%+ gain in one day was nice to see - really nice to see - Now we'll get to see if the Market Manipulators can drive the price down just as quickly.
I, for one, would love to see some "infomation" soon, on the Gemini Acquisition, the audit, and the application for NASDAQ or AMEX listing - hopefully without any more - OOPS.
Rick Michael did publicly state at the conference that he expected BDGR's oil production to be at 30,000 B/Mo by end of 2006, and THREE TO FOUR times that amount by end of 2007.
Despite the - OOPS, I believe he has a reasonable chance to realize those expectations - unless, of course, - OOPS happen.
Douglas, nice to know and thanks for the post. I would have loved to have asked him why the missed $4M wasn't made known sooner, and why they stated they were at 18,000 Barrels per month in June, and yet set a Company record with 10,000 Barrels in August. Either someone isn't on top of what is actual, someone misspoke, or......
Hey Derekz....How about you? Care to comment on the real issue...not the typo?
Hey Bubba...you're right - my typo - Should have been 18,000 B/MO...BUT it STILL DOES NOT EXPLAIN the discrepancy. Care to offer a real comment on that?
I'm confused! In the June RedChip alert BDGR indicated they were at the 18,000 Barrel per day rate...That was rested in their August 1st alert. Now, I see BDGR stating August was a record month with 10,000 B/Day. Can anyone explain that? I'm also still confused at how BDGR revenues were steadily increasing to the reported 1.1M in Q1....and then the total for Q1 AND Q2 came in at 1.6M....How is that explained? I'm LONG on this stock, but I am confused by the conflicting statements. Maybe BDGR is sandbagging and really did 28,000 B/Day in August and will zoom past the 30,000 B/Day rate goal for year end. Oh well, perhaps the audited financilas will explain everything...oir are they just for 2004 and 2005? Happy Saturday everyone!
I don't think so - Consider: Revenues for the past five quarters:
Q1 181K
Q2 270K
Q3 525K
Q4 709K
Q1 1.1M
Now we read that Q1 & Q2 revenues equal 1.6M...means Q2 was approx $500K ????? How can that be with a run rate of $1.1M
from Q1?
How many recent Press Releases maintained the company's expectation of $4M in Q2 revenues - Issued Right thru this month...
What of the 4-4-06 PR indicating audited financilas would be completed by 7-4-06 (3 months)?
What of the 3-15 _PR indicating audited financials by end of April 06?
In the CEO's radio address on Aug 7th he indicated completed financials would be by the end of September!
Speaking of the radio conference...why was there no mention of Q2 shortfall....Claims of $4M turning into $500K is significant!
Comments anyone? I'd like to hear someone else's thoughts on these subjects.
T'would appear that "someone(s) knew of today's PR before we did....and sold.