Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
done deal. all options. all tht sold will be chasing the ask and crying when this stock is up 300% in one day....
22M barrels in reserve !!! Plus 8000 bopd production, plus more outlined below wells plus Grimes plus Tubbs plus New Mexico plus Tyche how can we sit here at .02 cents. It's freaking ridiculous.
1) The company can purchase the assets, operations, personnel,
existing mineral leases and existing 250 producing wells
in the East Texas Oil Field.
2) Biogenerics can elect to invest with this company in
150 re-work wells in the East Texas Oil Field.
3) The company can also elect to invest collectively in 12
wells to be drilled in West Texas. This company currently
employs 70 people, has its own rework rigs and drilling
rig, plus several years of experience in oil field
operations and management.
Biogenerics management is gearing up to purchase the entire operations of this company, which includes the wells mentioned in options (2) and (3). If the company's due diligence proves this transaction to be viable, then the result will be that Biogenerics has purchased proven reserves of 10.4 million bbls of oil which has historically graded out at the 42 gravity level, plus the opportunity to prove up and own another 15 million bbls of oil reserves. The daily production of existing wells in the East Texas Oil Field being acquired is estimated at 275 bbls/day. This will be a major step for the company and will place it as a major operator in the oil industry in the State of Texas and surrounding areas.
Lancaster stated, ``This transaction will bring to the company a presence in the oil industry that is highly respected -- an operation with a substantial positive cash flow, ownership in over 200 currently producing wells generating over 7,300 bbls/month of crude oil, leases with an estimated 21.84 million bbls/oil in proven reserves, drilling sites for 12 new wells, with a potential for a substantial reserve position in oil and gas. Further, 125 well sites to rework and capitalize the oil production from in the existing field, and equally important, a fully operating exploration/drilling company with a highly regarded reputation in the industry in Texas which will allow the company to do its own drilling, rework and management of wells.''
The Board of Directors is pleased to announce that the Company has been giving the LOI on the East Texas Oil Field its highest priority. James Lancaster, CEO, reports that the Company is in negotiations with its funding source to complete all due diligence required by them and conclude the funding facility to close these transactions. Biogenerics continues to pursue opportunities for additional properties located in Arkansas, Louisiana and West Texas. These properties encompass over 7,000 acres of leases. Management has also been assured that there are other opportunities in conjunction with the LOI on the East Texas Oil Field, which it will be pursuing at the appropriate times.
The Board of Directors recognizes that the Company is working outside the time frames indicated in the LOI for the East Texas Oil Field; however, the Principals on the LOI are cooperating to allow this transaction to be concluded. Biogenerics management has the closing of the East Texas Oil Field LOI as its top priority.
http://biz.yahoo.com/pz/060523/99596.html
http://biz.yahoo.com/pz/060525/99754.html
http://biz.yahoo.com/pz/060831/104622.html
many flippers got burned last week and I like that very much. Our resident flipper patiencepays can't hold the stock for more than a week before he flips for a small profit or loss.
You people just don't understand the potential this company has. Even furtcash, his posts as of late, are very down.
I know most of you have been holding this for a long time. Once you hold it for a year, the max capital gain rate you will pay is 5-15%. Ever think about that ? My one year hold will be October 24 for all of my shares. So if I'm a few weeks away from that date why not hold, otherwise I pay 33.9% on any gain because it becomes regular income. You have to calculate the taxes you will pay vs. the loss/gain that could occur by holding through a few rallys.
IMO - I think this stock will rally strong, then consolidate and then slowly move higher with a few more rallys along the way. By January, I see this stock over .20 with good support just like we have support here at .017
.20 will be our new support come 2007.
The other thing somebody mentioned was the financing for the East Texas LOI. I probed IR about this and was assured no reverse split or share dilition would occur with respect to financing this deal. It's all debt-based financing from an investor in BIGN. However, it may be possible the company is giving this investor shares in Tyche in exchange for the financing package. The company still owns 27% of Tyche after they gifted 10% to BIGN shareholders via the stock dividend. This could be the answer to the big question. If they gave this lender 20% of Tyche in exchange for debt-based financing this would be great news for the stock.
you people seem very discouraged and frustrated. Call Boyd on Tuesday and ask questions. He will eliminate your discouragement, however, the frustration will remain until the PPS starts to finally rise.
The PPS wll rise. Just a matter of time now. Everything is right here, on the tip of the iceberg so to speak. It will happen so don't kick yourself for selling once this stock starts inching up slowly before it blasts off into the teens.
My prediction calls for this stock to rally into the mid .20's before pulling back and consolidating around .08 - .12 cents. This will all happen before the end of September.
Long and strong.
deal is done. PR tommorrow or I'll eat my words.
Incidentally I increased my position to over 16 million shares on Friday. Nice. How you doin' eat ? Buy anymore ? Hey guys if you want me to fill out the S13 filing I'll do it but I don't think I own 5% yet. I called Ameritrade and they said for .pk stocks it's optional if you want to disclose your position publically even owning >=5% . Once you do it, you must say when you buy and sell too. Have to think about that one.
16,321,800 shares long and strong...... .051% baby....Cmon' BIGN deliver the goods, come to daddy.....
nikkidude - my point was not to bash it's just sick when you sit here for a year making flippers rich and watch support get tested 5 times at .017 since April. I said if the stock breaks that support .014 it could go sub penny. That's my indication to sell because once it goes sub penny usually there is no recovery over .01 for a long long time. I'm in the market to make money but I know when to lick my wounds and move on. At least at .015 - .017 support I could get out of most of my position and still have 240K to invest elsewhere vs. watching to go down to sub penny land and lose another 140K. No thanks. The stock deserves to be at least .06 - .08 now, .10 with Grimes, .20 with the East Texas LOI. The market gives no consideration. No ridiculous consideration for this stock. Why ? It's frustrating to say the leats especially when you are holding a massive position not to daytrade but to become rich. That's my frustration with this stock. It has been sitting on a tighwire dangling almost falling off for 4 months now. The risk is high they could fall, but it they make it across great, we are all rich.
Pray for the East Texas LOI news early Tuesday. If it does not come Tuesday, someone at BIGN is going to get a phone call and an ass reaming.
here is how the last PR should have been worded based on my discussion with the company last week. This is what needs to be clarified early next week.
1. No mention of LOI's still under assessment or terminated. These were in relation to two other smaller LOI's, not the big one everyone is counting on the East Texas LOI. They were pressed to release the info by 8/31, why is god did they have to put bad news in with good ? We need a new PR person. 8/31 was the expected date.
2. I would have worded it likes this "the company is pleased to announce that it is in the final stages of closing for the East Texas LOI. The company had decided to pursue the entire operation outlined in the May press release. This aquisition will make Biogenerics a major oil producer in the East Texas area and allow the company to further it's joint ventures and exploit it's leases. Further, Biogenerics is currently performing it's due diligence on additional properties in Loisiana, Arkansas and West Texas in conjunction with the Eaxt Texas LOI financing terms. The lender has agreed for Biogenerics to examine these properties and include them with the financing intact for the East Texas company. The additional time required to analyze these companies potential should not significantly impact the projected closing date scheduled for mid to late September.".
MESSAGE FROM ARCH:
Why do I have to purchase a membership here to be abused by you people. I just get angry and thrown in jail for retailiation. You ask who would invest so much in a pinkie ? Well, this 400K invested is only 10% of my holdings. The rest of my portfolio is tied up in cash, bonds, and stock. The stock owned is 80% energy, specifically refiners like ALJ, FTO, DK, and VLO. I'm up huge on all positions an plan to hold all for the next 4-7 years. I have already received two splits from VLO and FTO. The 10% I classify as a high risk play. BIGN is that high risk play. I don't day trade penny stocks. I invest in them. BIGN is going to become a lower-level teir Oil and Gas operator/producer with an estimated market cap of 200-300 million dollars within 2 years. They will soon merge with Tyche and WW Oil and Gas to form one entity.
1. This company is not fully reporting and currently unregulated by the SEC thus investors owning more than 5% DO NOT have to file form 13g.
2. I own a little more than 16 million shares now thanks to the sellers. I planned (past tense) to bring my holdings to 18 million shares but I will not chase the ask. This stock is going to break out today and close over .03 Just watch. I am not selling anything and have been holding for almost one full year. I bought almost 1.6M shares yesterday and bought another 500K today. Eatmenasdaq I hope you bought more yesterday !!!!
3. Pinks cannot be shorted via retail traders executed through discount brokerages like Ameritrade, Etrade, Scottrade. Only through direct trading houses (i.e. JPMC, GS, CSFB). FACT !!!!
4. I get all of my information from the company. They cannot dislose any info but if you ask the right questions you get the right answers. News next week. I will state my reputation on it here on IHUB. If we don't get news next week I will never post again here. Deal ?
This is the news that is coming.
1. Clairify the PR yesterday stating the reason why it's been delayed. It's been delayed due to the additional 7000 acres that must be quickly DD'd before the deal closes. The lender actually wanted to give BIGN more money then they needed to aquire this land since they are considered a gold mine and must be financed with this package.
2. The East Texas LOI is a done deal. The entire package. We own the rigs, we own the personel, we have the revenue and cash flow. We own the leases and all options outlined in the initial PR. More leases are being presented to the East Texas Deal that will close subsequent to this deal closing.
3. Tubbs is a done deal. We start drilling our first well with WW Oil and Gas in late September.
4. Grimes "initial results" for wells 3-4 is expected within 2 weeks. The reason for the delay, multiple pay-zone formations have been detected resulting in deeper slotting than expected. The wells are reported to be prolific producers. You know what this means, 5000 - 20,000mcfd. Yes 20K.
5. Name change coming immediatedly after the East Texas deal is closed.
I'm not going to chase the ask. I'll just sit back and wait for sellers at .019 and .02 today to give me their shares. I've already chased this stock several times thus why my avg. is around .028 on my huge position. This stock is going to make me some coin. Retirement coin.
I plan to bring my position to 18 million shares today. How do u like that eatmenas ? ha ha ha
OK I got a 3M share bid at .019 Let me have em' people...
gotta love this volume. Trade 4-6M today. Nice. Just picked up another 350K at .02 Nice. You guys are helping me get my average down. Keep up the good work. Selling that is.
WWNG is selling shares to pay for Tubbs.
Just wait for the PR's that I mentioned. They will come no later than Wednesday.
today will be slow because of the Holiday. I expect .025 though. I'm buying more today. Sold all my RMBS for a 50% gain in 10 days. Make 140K. Nice.
they told me the wells at Grimes are still being worked on now and results should be out very soon. Preliminary results. Then another month for stable flow rates. I got the feeling we should know "something" about Grimes in about two weeks.
was told by company yesterday clarifying PR will be out either today or Tuesday. Company was very upset about yesterdays behavior of the stock and said if people would just read past the first paagraph they would know this is going down. They admitted the section about the East Texas LOI was unclear because they cannot release the specifics on what is going on with the 7000 acres and how it relates to the East Texas LOI closing. After the clarifying PR, the deal closing to be announced soon hereafter. Not looking at months here to get the East Texas LOI closed. Deal is done....The DD on the 7000 acres is stellar just from a cash flow perspective it makes sense to go ahead and buy the properties.
The reason it was not anounuced yesterday was because of the additional 7000 acres. The company wants to include these properties in the financing, but the lender required more DD on these properties (West Texas, Lousiana, Arkansas) before commiting to the extra funds. The DD is solid because these properties all stellar, have great cash flow, have great expectations for slotting, N2O technologies when reworking shut in wells.
If this deal is allowed to go through the company should command a market cap no less than 300 Million dollars based on the potential here. That's $1 per share. I cut it in half to .50 just to be conservative.
The Board of Directors is pleased to announce that the Company has been giving the LOI on the East Texas Oil Field its highest priority. James Lancaster, CEO, reports that the Company is in negotiations with its funding source to complete all due diligence required by them and conclude the funding facility to close these transactions. Biogenerics continues to pursue opportunities for additional properties located in Arkansas, Louisiana and West Texas. These properties encompass over 7,000 acres of leases. Management has also been assured that there are other opportunities in conjunction with the LOI on the East Texas Oil Field, which it will be pursuing at the appropriate times.
The Board of Directors recognizes that the Company is working outside the time frames indicated in the LOI for the East Texas Oil Field; however, the Principals on the LOI are cooperating to allow this transaction to be concluded. Biogenerics management has the closing of the East Texas Oil Field LOI as its top priority.
I loved it when the flippers got burned yesterday for break-even or a loss. Was great to finally teach them a lessson. Now when BIGN releases a clarifying PR as early as next Wednesday and then the closing PR soon hereafter and we go up 500% in three days we won't have this riff raff climbing aboard for the ride only to squash the bid with their relentless selling for their measly 30% gains. September is going to be an awesome month for BIGN. Tubbs, East Texas, Grimes, Name Change, revenue projections.
I will be buying more today under .025 Picked up over 1M yesterday at .019 Nice.
did not say we hit .50 next week I said we are on our way to .50 as early as next week. The LOI (East Texas) full package and financing IS A DONE DEAL. Just a minor hiccup that required some more DD by the lender with respect to the additional properties. This is acurate information. Do your own DD and form your own conclusions when deciding to buy BIGN.
ALL - Those who sold yesterday in a panic based on reading the first paragraph not fully knowing what this company is about will soon be crying. Maybe as soon as Tuesday. I will explain later what is going on. The East Texas LOI is done and so is the financing. Just a minor issue that came about late with respect to the 7000 acres in Arkansas, Texas, and Loiusana. Cry cry cry. This stock is going to .50 as early as next week. I cannot wait.
NOTHING HAS CHANGED FUNDAMENTALLY WITH THIS COMPANY !!! Is a delay in closing the deal enough reason to sell your stock ? The DD has been done. They want to buy it. Now they just need to get things in order for financing. What this means I do not know. How long this will take, I do not know. Maybe they want to secure the cash flow from the Grimes wells ? Maybe the selling company needs to provide disclosure required by the financing ? I don't know.
Read the words in the PR. Number one priority to close the deal. Financing stage. The deal is done. Just need to get the money now. The principals (sellers) are waiting. They want to deal to go through too.
Everyone holding this stock must pressure Boyd now to gain a full understanding on how long this process will take and what is involved. Are we looking at six months, three months, it could happen next week ? I think things are out of their control with setting timetable expectations at this point otherwise they would have said financing is expected to close on such and such date. Obtaining documents, disclosure, executing documents all takes time. When you buy a house it takes 30-45 days min. to close. This is an Oil company. The lender wants reassurance they have a secured loan.
In a way, this alludes to debt-based financing which mean no dilution. Sure the principals are getting some form of warrents and preferred shares to give BIGN this deal. This is why one of the principles has requested to remain on the BOD for two years. Read the fine print before you sell into panic and emotion.
P.S. whoever sold that 1M block at .019 thanks. I just bought it bringing my total holdings to 15,400,000 shares.
ALL READ -
I think initially there was some confusion regarding the LOI's and content. Please note (3) LOI's were announced back in May.
1. East Texas LOI
2. Quitman
3. Wood and Camp County
#1 The East Texas LOI had three options. One was the complete package, second was to rework 150 wells, third was to rework 12 wells. The company has the option to do one, two or all options. Obviously, everyone wants to see the entire package because then BIGN can be classified as an Oil Rig Operator driller with significant assets plus obtaining the existing cash flow 7M annually from the East Texas company. However, it should be noted that this company has it's own rework rigs(2) and drilling rig(1) to collectively work with BIGN on the smaller projects using BIGN's technology. So if any of the deals go through it's a bonus for BIGN.
Also - The company has announced it's JV program with WW Oil and Gas / Success Oil on the Tubbs project expected to commence in September. This is a plus $$$$
Also - We have two wells hopefully coming online at Grimes. This is a plus $$$$
This is my observation. Nothing has changed fundamentally with the company except it's "known" inability to execute and get things done. Delay, delay, delay. It's unacceptable and ugly but that is business. It is however, not a reason at this point to sell the stock into a panic.
At least the deal is not terminated and off the table. Everything is still on the table as was before with the exception of Quitman. Quitman was not a large project. The East Texas LOI is entering the financing stage of the closing and the sellers are not terminating the deal. My only question is how long will this process take since no timeline was given. Obviously, the sellers will not permit much more time.
no time frames given. Ugly IMO. The lack of execution is very scary here. How are they going to fund this LOI ? Due diligence by funding partners ? Very vague again. Simply disgusting.
HERE WE GO PEOPLE !!!!!! MM's ate their breakfast and are ready to serve lunch. Go get em'
.024 X .028
You can see how easy it is to pull this stock down. Not very encouraging. I've been watching gains vapaorize for almost 10 months now. The only ones making money here are the flippers and day traders. What is the point anymore of holding this if all we can look forward to is this bullshit.
Just taked with IR. They said PR should be out.
bid dropped to .022 good job flippers !!!! Erase the 35% gain we had the other day in 28 minutes of trading. Way to go !!!!
.031 on the ask
if the deal was dead we would have known by now. They are not going to release that type of news on zero hour.
Worst case - it's delayed again or some aspect is delayed.
Another worst case - the PR positive but vague and does not outline the details.
My hunch tells me we are in for (1) of the (3) options spelled out in the inital PR. May not be the total package as we all hoped but remember the company is collectively working with this East Texas Operator who has rigs available to them. This is good news. The entire package would be stellar news.
BIGN chart and CCI. CCI an excellent indicator.
When the CCI moves above +100, a security is considered to be entering into a strong uptrend and a buy signal is given.
http://stockcharts.com/h-sc/ui?s=BIGN&p=D&yr=0&mn=6&dy=0&id=p07889226766
Do your own DD.
I predict 10AM as usual. I do not see any bearish movement today either. Should bid up strong into the PR. MM's got enough yesterday.
Just wait in 10 months when BIGN starts paying quarterly dividends of .01 cent per share. That's 140K per quarter for me. Like I'm going to sell any shares, NOT !!!
When I spoke to Boyd three months ago, he said I was one of the largest shareholders. He said he mentioned it to Bonhomme and Rowe and their reply was "the guy must be pretty smart". Now why would they say that ?
todays news is positive will put this little company into a new league in the Oil and Gas industry. We will be a drilling company with assets out the wazooo. Remember that when you sell at .04
Oil stock BIGN news expected today. Get in early.
Wishing everyone the best here. Oil is back over $70, nearing $71 due to Iran. Let's just hope we have some closure with the LOI no more delays, detailed PR - financing, etc. Grimes should not be included here, should be out next week thus having maximum effect on the PPS.
Remember, many people trapped in this at .04 and higher will be looking to exit for break-even pivot combined with the 10%, 20% flippers it's doubtful we actually see the prices everyone is projecting here. People have to stop trading this stock and start holding it for the long term. If this would happen, we would already be in the teens just based on current fundementals w/o Grimes or the LOI. Understand right now the stock should be valued at .10 With Grimes 3-4 online .10 firm. We get the LOI full package we are worth .20
So why sell for anything less ? Just plain stupid if you ask me. Buy and hold, set your sell target and stick to it no matter what happens. That is the best way to succeed with penny stocks.
they will have to move the ask up soon to get shares. They are certainly not getting enough on the bid side otherwise we would have fallen to .026 (yesterdays gap to .03). I think later today they will raise the ask to get more volume and to buy more shares but if the stock suddenly decides to panic sell off or flippers gain control they will bring it down to the gap .024 - .026 and consolidate again. Nothing new here. Just buy and hold. Don't play this stock when news is so close. The East Texas LOI if announced as the entire package will propel the price at least 150% in one day, IMO. Then we have the wells on Grimes 3-4 to hear about and lots of other stuff that you know has been held back due to the LOI quiet period. Selling now is foolish IMO. You will be chasing it later. My freinds have lowered their buy point to .038 now because they don't want to chase it when it finally breaks out. Their short term target is .25.
I just bought more. Brought my total up 300K today. Holding a huge position for at least .50 here. May sell a little at .15 or so. We'll see.
Action today is not evident buyers do not want to pay higher prices. The MM's are keeping it down by lowering the bid and capping the ask at .03 otherwise the ask would have jumped to .031, .032, .033 already if it were just retail sells. Why are they doing this ? They know where this is headed and they want inventory for the run that has yet to begin. INVENTORY INVENTORY INVENTORY.