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You are blaming the wrong people Hop. Arne chose this death-spiral financing; probably because noone else would loan him money!
If Arne was close to financing he would have had an audit of Syrei..Lime Truck..Awyi. The financiers would demand it. Arne has no cash coming in except for conversions so he probably has no resourses. He did mention this in the last filing.
It will be interesting to see if AWYI does a Sept. 08 filing.
Well, you have seen stocks @ no bid X .0001. At a 25% discount Cornel would convert @ .000075.
Cornell converts preferreds @ a 25% discount. They always make money!
Only if there is favorable financing news. Otherwise dilution continues.
I agree IF Arne has some favorable news that deals with Financing. Do you agree?
YES Taki. I sold @ .01. But that was when Arne was presenting his plan and the momo was on. Now there have been no accomplishments and dilution continues. Cornell did not have the 500M warrant at that time. The discount on the preferreds was only 95%; not 75%. The environment has now changed due to the Global Financial Crisis.
I agree that AWYI is a unaudited reporting shell. It is hard for me to put a value on it only because Cornell is draped all over it both with preferreds and a 500M share warrant. If it was a clean shell I would agree with you.
AWYI has NO revenues. Only Syrei and Lime Truck have revenues. Isn't that what the auditor told Arne? The confusion stems from one filing when Arne consolidated financials. Arne made a Mistake. He cannot consolidate financials because he does not own Syrei or Lime Truck. He does not have the money to acquire them!
Instead of sitting around on your duff and trying to discredit me you might learn how to read and understand the filings! Also, under our Investment Agreement with Yorkville Advisors and Montgomery, we may not incur indebtedness or become contingently liable for such indebtedness except for trade payables or purchase money obligations in the ordinary course of business without the prior consent from Yorkville Advisors and Montgomery. Also, we may not issue or sell common stock, preferred stock, warrants, options, or similar securities, or enter into security instruments granting the holder a security interest in assets of the company or any subsidiary without the agreement or consent of Yorkville Advisors and Montgomery. Such restrictions may limit our ability to raise additional financing unless such restrictions are waived or amended.
YOU get a clue. Arne needs some money to exist. He needs some conversions. My point is without financing to consummate the Syrei deal dilution MUST continue.
You must understand that Arne developed this plan and had NO MONEY. The only place he can get money to pay bills, filings, etc. is from the conversion of prefereds. Arne chose YA/Cornell as his financier probably because no one else would loan to him. Arne NEEDS some conversions to exist!
The only answer is Financing from another source and YA/Cornell must approve it.
YA/Cornell would not be converting on the 500M share warrant but only on the prefereds.
To give a sizing on Sep 07 there were 149.25 preferreds and on Jun 08 there were 125.75. Each quarter some are converted and can be seen by looking at the Balance Sheets. The preferreds convert to common stock based on the pps at a given time.
The bad news is that at a pps of .0003 each preferred conversion sizes @ more than 44M common shares. The volume trades have been low so you assume not many are being converted as the demand is not there.
This is only a sizing so one may visualize what is happening. Obviously one can only know in hindsight once the filings come out. Then you compare the increase in OS for the quarter.
Hey, how in the hell can Arne "sell back" the acquisitions when they never purchased Syrei or Lime Truck. It is all over the filings thay Awyi only put DEPOSITS on them. Arne never accomplished "step two" of the acquisitions. This is why the auditors do not allow consolidation of financials because the acquisitions were at no time consumated.
I also realize Arne SAYS he can sell back the acquisitions in the filings but that is BS. How can he sell back what he does not own. This is why ol Arne has not completed an audit of Awyi and Syrei and Lime Truck. Arne should be careful he does not run himself into lawsuits.
The Bozzo Brothers have to come out with some kind of statement after their 3 pumping pr's. They can tell us how many OS they have in a pr (pump) but cannot even say they are open for business.
Yep and they convert those preferreds @ a 25% discount to pps of the lowest volume weighted average during the 20 trading days immediately preceding the date of conversion. Each preferred is valued at $10,031.04. There were 125.75 preferreds left as of the last filing.
Lets say YA/Cornell sells to retail @.0003. They convert @ .0003 X 75% = .000225 divided into $10,031.04 = 44.6M common shares per each preferred converted. OR 44.6M common shares X 125.75 preferred shares = GO FIGURE.
The point is YA/Cornell can sell @ .0003 forever and make money so Arne either gets financing, which I doubt he can, or dilution continues until there is a RS. In addition, AWYI pays 18% interest on the preferreds in common stock.
GL with that.
Same here .....I did ok with it early and will only pay .0001.
Too bad mmte has no oil. RS very soon.
I doubt it but, if so, mmte will have done a RS and will still have very little revenue, if any.
Oh please, do not start comparing this oinker to REAL firms.
Cint is back on the Reg Sho List. There has been nothing but distribution since the Gallic Boys began pumping this in Sep 08. (1 year weekly chart) Now, of course, there is nothing "worthwhile" for the Gallic Boys to report.
Yep, you are right. I continue to follow the penny stocks that I flip and in most every case I would have been a loser by holding. Although not a great chartist, I follow them very closely and combine this knowledge with pr's, momo, etc. Hell, most all eventually fail. These outfits just do not have management skills, financial means, and other resources to make a go of it. Other outfits are out and out scams.
Your concern should be how much oil or gas they have, if any.
In their pr's they always said there was continuing revenues from Rogers County. Then the financial statement pr came out and there was no revenue and Rogers County was gone.
Then they acquired a 3% working interest in Pawnee County. WITH WHAT? They have no money to work anything or acquire anything.
And what happened to Noble County. In my research going back a number of years they always pr that they have continuing revenue; but never have they reported any. MMTE is always drilling or so they say.
The OS was 1.2B on May 29 with a 1.5B AS and is probably maxed out by now. I see no reason to buy this stock. I think the company is run by some bookeeper. This bookeeper had short term loans on the Balance Sheet when he has NO MONEY for drilling.
I do wish all traders well but just hate these Mickey Mouse ceo's whom are always trying to blow smoke up someone's azz.
CNBC reported today that the miles driven in Sept were down 10 Billion vs last Sept. Demand is shrinking and as more layoff's occur I believe demand will decline more. Many analysts are talking $40 so I guess we will see.
Oil prices are the only bright spot in this economy at this time. I wonder what the Saudi's did with all that money we gave them.
Oil 50.40 pre market...Come on 40's.
I think the Gallic's just needed some money from their debenture pals for Christmas.
Whom could possibly take these guys seriously when they do not take themselves seriously.
As the recession deepens and unemployment increases to 10% usage will continue to decline. IMO the price will be volitile but we may see $50 bbl. This financial crisis that the greedy created and our leaders allowed will not be over anytime soon!
I doubt these guys have enough oil or gas regardless of price. I am not even sure the bookeeper even knows what county he is drilling in; assuming he is drilling at all.
Yep, that is what I thought. NIR, YA/Cornell, etc all have those death terms. These terms are pretty steep even for NIR.
I do believe someone is selling large blocks of shares. Any opinion on the following:
OS as of Nov 12, 07.....42M
OS as of July 31, 08.....162M
OS as of Sept 02, 08.....216M
Shares traded Sept and Oct 08........557M
I find it hard to believe there is only 216M OS but I could be wrong. Cint came off the reg sho list on 10/14/08. 420M shares traded in Sep 08.
Oh, appropriate time? I thought he told you that he would pr when he had something of value to report.
I agree.....these guys sure know how to INSULT their shareholders.
That kind of statement to shareholders is an easy OUT for ol Peter. He obviously does not want anybody to know what is going on; I guess that is why they went Pink. His attitude certainly will not attract buyers IMO. He sure was anxious enough to tell everyone that he planned on being in business on Nov. 1.
Yea, hard to tell. All I really know is that the OS per their last filing (Sep 07 I think) was 42M and per their pr in Sep. 08 was 216M. The AS remains @ 2.5B.
Really need an update pr here if these guys are interested in their credability.
There may have been some short selling and subsequent conversions when the pps ran up to .003. Cint was on the reg short list for awhile.
Hard to tell with these pinks....but some action must be taken soon.
Per the financial information posted on cints' website as of July 31, 08.... the current portion of debentures is $2,574,514 and is due in 2009 and the long term portion is $1,642,826 and is due 2010/11. Cash balance was $34K.
NO...when a CEO lies to investors I will be "Vulgare"
I am sorry my message was deleted....I try to tell the truue story.
Same here....CA
I Agree....the Balance Sheet sucks. That is the risk.