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Looking forward to another week of sideways action. We're about ten weeks away from actual revenues (best case scenario) at which time this slumbering dwarf may re-awaken.
Another week gone by with no news from this languishing operation. Each EXTO PR has promised further details, but they have not delivered on anything except to report they have permission to dig a few trenches. Well, are they digging yet? What's stopping this company from producing something of value?
My nephew's cookie table raked in $2,754 while EXTO had
zero revenues during the Third Quarter. Our kids had 250 sq. ft. to work with. You'd think Jim Porter could be more productive than that, working out of his 1,000 square foot home office.
I was told two months ago by IR "the wait is over," but this company is still in a coma. It's time for them to announce some tangible progress, if any has been made.
I think I'll call them on my Obamaphone.
Well, it's been 90 days since the judge decided to drop EXTO from the case. Anyone know what is holding up the symbol change now? Months ago we were told they were doing everything humanly possible to get the symbol change taken care of, so what happened? Have they given up on BAYP?
Lots of dry powder in these private equity funds, but a buyout of CARE could hardly be called a mega-deal, especially with EBITDA at zero. Any multiple of 2012 EBITDA is still zero.
There's got to be production to show viability.
We are still months away from seeing any revenues here. We probably won't hear more about that dividend either until well into 2013. And, at this rate, I wouldn't be surprised to see the symbol change take place around Halloween. With no word from the Company regarding these and other matters, I must express disappointment. After holding since April of 2011, I am down 50% with no apparent momentum for this to go any higher.
I'd like to see something change here before the elections, but there are no guarantees.
We are approaching three months since the judge's favorable decision to excuse EXTO from the case. Why has the symbol change not yet taken place? This Company behaves as if they had no shareholders besides the Directors themselves.
There is selling because no revenues will be reported for another three months. This Company should post some of the details they promised in earlier PR's to keep investors interested. I think the managers are not serious about increasing transparency, as they claimed in the conference call. They said more information would be forthcoming with regard to everything from the agreement with Rio Riata to the Maine condos to the dividend issued by an acquired company (T/B/A) to the potential of the Sir Tidwell claim, so where is all of that information?
Listening to the chirping of crickets is more exciting than hearing what Jim Porter has to say about this floundering operation.
Makes sense, of course, but the Company should release some details for the benefit of us shareholders. I suspect Walter Steele brought this Maine condo/resort deal to Bayport, and because the deal is working out, they offered him a position as VP and Director. Just a hunch.
Walter Steele, an accomplished business person, was named the Executive V.P. of Bayport and given 2M pfd shares for services not yet rendered. This was announced two months ago in a PR dated 7/24/12. What will he contribute to the Company? Why has the Company not explained his role? There are many other loose ends for which updates were promised but not delivered. Very poor execution at the administrative end, in my opinion.
See otcmarkets.com for Quarterly Report dated Sept 30, 2012 posted under EXTO. I'm surprised there is no mention of it in the I-Box.
When can we expect this stock to start making a move? We're 70% off where we were one year ago. Now they're predicting revenues from oil and gas before the end of the year. The PR in April, however, had predicted oil production by the end of the second quarter. I'd just like these guys do what they say they're going to do, and do it on schedule.
This is actually a pretty positive report. Expecting production in the oil division in 2012. Mentions resolution of lawsuit. Only 72 shareholders, though.
Twelve weeks have passed since the June 28th conference call and the vow to have greater transparency. Actually, there has been less transparency than before the cc. How could this company allow management/shareholder relations to deteriorate to such an extent?
Alternative media has been talking about an "October surprise."
Could that possibly have something to do with the symbol change from EXTO to BAYP?
Right. Briggs explained to me a month or two ago that it would take approx. two weeks for restricted shares to become available for free trading from the date the restriction officially ends.
The question is whether they have the prerogative.
True or false: It is possible that FINRA has already approved the name and symbol change
to BAYP, but Bayport has asked that the change not go into effect until a later date.
Which well are you talking about -- one of the reworked wells, or the beta site?
They posted it on their website way back then (BAYP).
Fortunately, he no longer has any involvement with Bayport International Holdings.
I'm looking for something to happen here in the next five trading days, particularly the symbol change and perhaps a PR about production in the oil division. Let's go, EXTO! It's time to rise and shine!
A month ago, IR told me "The wait is over," but they must have been referring to management waiting for the green light to get the ball rolling. Before, they were having to sit on their hands. The problem, of course, is that we shareholders must continue to wait.
It has now been sixty days since the judge's decision and his proclaimed final judgment.
The symbol change may come about this week. No guarantees, but my pinksheet intuition tells me so.
I hadn't looked at the Bayport website for a while. Under Innovative Projects, they now include only the Maine resort, which they say they intend to take public. Is that the entity through which a dividend will be issued to EXTO shareholders? Sweet!
Gone are references to a seafood business, cosmetic line, paint products, and so on. We now focus on mining, oil production and the Maine resort/condo deal.
Au contraire. There is plenty to report. They're just not telling us what it is yet. Their concern is not to satisfy retail shareholders, but rather to build their business at their own pace. Jim Porter has never been very vocal. He seems inclined to deal with us as outsiders and not as stakeholders in his company.
I don't think they are incompetent clowns. I think they may be suffering from ADD, attention deficit disorder. They just can't stay focused.
Management is obviously on vacation. Some time after Labor Day we should see some activity. The judge's decision came out eight weeks ago. Bayport probably arranged for the symbol change to occur in Sept. Otherwise, it most likely would have happened already. IMO
Don't worry. They will collect their back wages as soon as there are revenues. I believe they have been spending very little time working to develop EXTO's operations recently and instead have been focused on other income-producing business endeavors not connected with EXTO. I think the managers of this company are probably making one or two phone calls a day just to keep EXTO alive, in other words, spending about as much time making their deals as we spend reading the EXTO thread.
At this point, we should be pressing the Company to give us an update on the results of their drilling program, which should have produced something by now. They promised greater transparency two months ago, but we're still waiting to hear about something tangible they have actually produced, like a barrel of oil or a tenth of an ounce of gold, an iron spike or a few grams of marketable titanium. And where is that stock dividend for shareholders of record? Maybe the judge who heard our case can make Jim Porter fulfill his promise to distribute it.
Walter Steele knows how to make money. I hope he's not coming to Bayport just to take it easy and retire to that condo/resort project in Maine with its nine hole golf course. After Labor Day, these guys better get focused, stop stalling and get to work producing something that will produce much-awaited revenues.
Maybe next week (or not). Been waiting forever for this to climb to a new support level.
Waiting to see the RSI turn upwards.
It's actually a church-sponsored activity, and I don't think the elders would be interested in holding restricted shares of EXTO if they had to part with those fresh chocolate chip cookies. No way!
That's good advice, rubs1. Since both of their parents were US citizens when they were born in Queens, NY, they will be more eligible to run for that office than BO. What I am more concerned with though is that their sales figure is greater than my unrealized gains from EXTO.
I have a nephew and niece who are selling home-made cookies and fresh squeezed lemonade from a folding table to raise money for a church project. They are both in middle school. I expect their sales figures for the summer months (approx. $3,500) to surpass whatever revenues EXTO shows on its Third Quarter income statement due out in mid-November.
They've got six more weeks to produce and sell a barrel of oil (or a bucket of shrimp, etc) if their financials are to show any Third Quarter revenues. I believe their chances of doing so are about one in five.
Impressive.
From the EXTO PR of April 11, 2012:
"The initial target of production is the three wells located within the Peck "A" lease covering the south 320 acres under Section 372, Block "G," Gaines County, Texas. Rio Riata and CTL have mobilized equipment and expect to start production within the second quarter of 2012."
As of the date of the PR, equipment to rework at least one well had been mobilized by Rio Riata and CTL. Production was expected to begin by June 30th, which passed us by six weeks ago. It appears that before attempting to drill at the original target, a test site had to be set up. Anyone know if any progress has been made on that front?
Anvil, I agree. If there will be revenues in the Third Quarter, they will come from the oil and gas division. Sooner or later, management has to start focusing on transforming the Company's potential into revenues. Without actual revenues, there is no profit to speak of, and without an earnings per share calculation and P/E ratio, a valuation of this Company can hardly be determined. How, then, can one expect a positive return on this investment?
At this point, Bayport International Holdings is very much a shot in the dark.
We are half way through the Third Quarter of 2012. If there are no revenues reported in the Third Quarter, peeps will start using the S word.