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BioFuels Power Corp - yet another sham associated with Robert Wilson, former Board of Director of SEC suspended Gulf Ethanol Corp (GAEC/GFET):
http://www.wnd.com/markets/news/read/5598128/gulf_ethanol_welcomes_robert_wilson_to_board_of_directors
https://www.sec.gov/litigation/suspensions/2009/34-60410.pdf
Robert has a long time association with the band of miscreants for several other penny stock scams run by Jonathan Gilchrist, Kathleen Delaney, and the bunch, including now defunct AEND and the Professional Directors Institute.
QS - I know you are familiar with Robert Wilson as you seem to be touting his other scam as well: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=93811072
For the quarter
Sales revenue = $10k (one bit sold at a discount to attempt to win over a customer in West Texas)
Cost of Goods = $16.7k
Gross loss = $6.7k - hopefully their alleged new 3D printing initiative will reduce their cost of goods.....
G&A expenses (gulp!) = $111k
Net loss = $130k
As of September 30, 2013, the outstanding total principal and accrued interest payable was $411,861, of which $11,861 is accrued interest
As of September 30, 2013, they had a working capital deficit of $254,614 and a total accumulated deficit of $458,130.
The good news is that they apparently subsequently sold 8 bits to a company in Hong Kong for $170.6k. Subtracting out the same unit cost of goods ($16.7k each), that would roughly equate to a gross profit of about $37k (assuming no revenue sharing with the distributor) that can go towards that hefty G&A and interest expenses.
"60 billion cubic feet of gas and 4 million barrels of oil" - complete hogwash! FTTN coming upon a well with that kind of potential is complete fantasy.
Anyone notice on the latest 10Q that sales for the Solapad, Barefoot Science, and all other ventures went to ZERO?!? :
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9570644
From the most recent 10Q which covers the period ending June 30, 2013: "Alabama – We began receiving revenue from our well in Little Cedar Creek Field on October 1, 2012."
You are correct that it would be missing some of the production history that includes September, but does show approximately 9 months of production, including the 3rd (fiscal - not calendar) quarter.
FYI – FTTN’s drilling partner (http://www.businesswire.com/news/home/20120305005509/en/FTTN-Extends-Oil-Gas-Exploration-Efforts-Oklahoma ), Green Oil Operating, LLC, appears to be having some personal legal woes - CEO Bruce Scambler is having a pretrial conference today on his felony charges: http://www.oscn.net/applications/oscn/GetCaseInformation.asp?submitted=true&viewtype=caseGeneral&casemasterID=2967265&db=Oklahoma
Next pretrial conference scheduled for Dec. 18th....stay tuned....
1. ASSAULT AND BATTERY WITH A DANGEROUS WEAPON
2. DRIVING WHILE UNDER THE INFLUENCE
3. OPERATING A MOTOR VEHICLE ON WHICH TAXES ARE DUE THE STATE
See also, page 7: http://www.nicholshills.net/files/Enews%20February%202013.pdf
See also his past legal issues: http://securities.ok.gov/Enforcement/Orders/PDF/Agmt-CeaseAndDesistOrder_MerrickOperating-BruceScambler_05-055.pdf
LOL - 100 shares x $0.0032 = $0.32 - do ya think commissions were covered for that trade?
Meanwhile...CEO Bruce Scambler is having a pretrial conference today on his felony charges: http://www.oscn.net/applications/oscn/GetCaseInformation.asp?submitted=true&viewtype=caseGeneral&casemasterID=2967265&db=Oklahoma
Next pretrial conference scheduled for Dec. 18th....stay tuned....
As we can see, the hype surrounding the initial production figures were astronomically different from the actual production, no wonder the revenue figures are so low.
It was a year ago that the company was highly touting multiple press relases that "Current estimates for the drilling site range from 400,000 to 800,000 barrels of oil a day in production.": http://www.pennenergy.com/articles/pennenergy/2012/03/alabama-oil-well-rigging.html
In reality, the cumulative production over the first 10 months, amounted to a mere 54,000 bbls. Furthermore, FTTN cleaverly forgot to mention that their net interest in this barn burner well was only 1% (net of 540 barrels over 10 months vs. 400-800,000 bbls PER DAY)!!
It is just astounding that the SEC has not yet come down on this turd for the grossly misleading press releases alone.
The 10-K (assuming they do not ask for a 15 day extension), would be due Jan. 1.
QS - this press release is meaningless - what exact technology are they ACTUALLY going to use??
RBCC is yet another shady company set up by Kathleen Delaney, the late JT Cloud, and Robert Federowicz. The company is beneficially owned by an offshore Polish entity controlled by Federowicz, called Glendive Investments. Delaney, Cloud, and Federowicz have a long history of association with SEC suspended securities, including: EHSI, EVSO, ONYX, SSLR, GAEC, and GSLO. RBCC is no different.
The story line is pretty much the same, issue stunning press releases about immenent cures for cancer, addiction therapy,or some fancy bio-assembler technology which no one really knows about, but sounds high tech. Pretend to have real joint ventures (ref. n3D) with pretend equity stakes, or worse yet, create partnerships with ficticious 3rd party companies that have websites traced back to Delaney's Houston office, and then throw in a few iphone apps to get one noticed by including Apple's stock ticker, and you have their classic pump and dump MO. One does not need to take my word for it - go look at their latest 10Q and follow the convertible debt trail.
"real company no scams here" - seriously? This company clearly has no biomedical products, no revenues outside of its Coral Fish Farm Business, and is nothing more than a tool to print shares for company insiders.
Congrats - you received your purchase order from the unnammed, secret distributor for a single bit for an undisclosed price, as hoped for.
Let's quantify your response:
1. How long does a drill bit last? Answer: not long. According to the industry average, about 75 hours. The average drill time is 19 days, therefore each rig would need about 6 drill bits. Factoring in rig up/rig down, lets say each rig can do about 12 holes a year or 72 bits a year per rig.
2. How many drill bits are needed world wide? Answer: many. Not getting ahead of ourselves, BLFR has just targeted domestic rigs. Currently in North America (US, Canada, GOM), there are about active 1738 rigs. Assuming 72 bits per rig per year, that would be about 125,000 bits per year for North America. Let's give BLFR an extremely generous market penetration into a highly competitive market of 1% for their superior design - that would equate to about 1,250 bits per year after they get noticed by the marketplace.
3. A company with a useful patent(s) is a company worth something to themselves and to others. . Based on BLFR's latest quarterly report, they generated about a 42% net margin after cost of goods in 2012. In 2013, their margin went negative after they relied on leased equipment instead of sales. For arguments sake, let's assume a healthy 30% margin. Assuming they can sell 1,250 bits x $1500 each x 30% margin = $562k. Subtract out the current annualized G&A and interest expenses, and this net margin is now down to about $240k. However, to attain this goal, the company has stated that it will need to raise another $675k over the next two years. One way to accomplish this is through convertible debt - thus substantially increasing the existing 34 million in outstanding shares. This is in addition to the existing $304.5k in long term debt that is already on the books at "credit card" interest rates. Stating that the patent holds some value to themselves and others is really immaterial when you factor in the growing mountain of debt.
The Company has also stated it wishes to pursue 3D printing to offset cost of goods - until they shell out the money to develop such a venture, it is not included in the above analysis.
How exactly will a single drill bit sold for retail at about $1500** actually help this company?
**http://www.aliexpress.com/price/pdc-drill-bit-price.html
With a negative working capital of $457,401, a runaway G&A, and diminimus revenues, how exactly will OMVS open up talks for acquisitions?
Unfortunately, the news out this morning appears to be hype or even worse.... a lie.
Here are the REAL production numbers from the company's well in Alabama: http://www.gsa.state.al.us/ogb/prod_report.aspx?PERMIT=16714-B&API=01035202710000
As one can see, the production dropped off significantly in July down to a mere 13 bbls/day. Worse yet, the gas production has dropped off to zero. The well will NEVER make the highly touted "400,000-800,000 bbls" of production and is magically producing at a HIGHER pressure than ever before "....The well currently has a flowing tubing pressure of just over 400 pounds per square inch on 16/64ths choke..." - a feat that is simply impossible when it comes to reservoir performance: http://www.businesswire.com/news/home/20121108005715/en/FTTN-Alabama-Production-Remains-Highly-Encouraging
From today's press release touting a workover to get production back up, it states that the well is producing 370 bbls of oil per day (or about 11,100 bbls per month). The well has NEVER produced this much oil since the first days of production back in September. The steep declining production data clearly refutes the notion that this well is magically producing like a brand new well.
Even taking into account the Company's refuted production figures: "Midway through October, the well has produced nearly 5,500 gallons of oil and 4,000,000 cubic feet of gas." and doubling it for a full month production - this would yield the following potential revenue results:
5500 gallons x 1 BBl/42 gallons x 2 x $100/bbl x 1% net revenue position = $261.90 per month
4,000 MCF x 2 x $3.50/MCF x 1% net revenue position = $280.00 per month
Grand total = $261.90 + $280.00 = $541.90**
**Less Rework & Operating Costs, and G&A.
I suppose claiming ANY revenue by the company would be pause for excitement by Robert Federowicz.....
QS - more iBox updates needed. Harvey Bryant steps down as CEO of FTTN and is replaced by Robert Federowicz: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9545630
Robert is also part time CEO for fledgling Vodka/Women's Health company, ASCC. He is also part time CEO of Robotics/mobile apps developer QUAN.
More on Robert here that you may wish to post in the iBox:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73218067
Robert Federowicz, part time CEO of ASCC and QUAN, has acquired yet another gig as part time CEO of FTTN: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9545630
Why has Creature Tavern's creator, Novalon Games, disappeared from site?
QS - you forgot to include these details:
Logan County, OK Project - Breaux #2: FTTN's partner, Bedford Energy, does not appear to even be in existance - their stock is trading on the grey market, and their CEO is facing felony charges: http://www.oscn.net/applications/oscn/GetCaseInformation.asp?submitted=true&viewtype=caseGeneral&casemasterID=2967265&db=Oklahoma
Hughes County, OK Prospect - Gates #1 S14: FTTN's partner, Green Oil Operating Oklahoma, is in a RICO lawsuit:
http://law.justia.com/cases/federal/district-courts/oklahoma/okwdce/5:2011cv01441/82500/8
Big Canyon Texas Project: From the latest 10Q: "No wells were drilled on the Big Canyon Prospect prior to the expiration of the Big Canyon Agreement": http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9457720
Conecuh County, AL Project - Little Cedar Creek 35-5#1: FTTN owns a 1% working interest in this well. Contrary to your iHub Box update, the well is in fact not producing "slightly more than 400 barrels of oil and 350 thousand cubic feet of gas on average per day". The current production is much less than that, and as of June was only producing an average of 66 bbls/day and 40 mcfd of gas: http://www.gsa.state.al.us/ogb/production.aspx . The water production (a bad indicator) has steadily been increasing. Cumulatively, this well has produced a little over 54,000 bbls of oil (540 bbls net to FTTN's 1% WI) - nowhere near the touted 400,000-800,000 bbls.
Also, it might be helpful to post your compensation in the ibox: FTTN: QS, an affiliate of DreamTeamGroup, will receive $50,000 from FTTN per quarter for 180 days [$100,000 in total**] of advertising, branding, marketing, investor relations and social media services provided by QS.
**Interesting to note that FTTN's net oil & gas revenue for the latest quarter was only $2915....
"....60 billion cubic feet of gas and four million barrels of oil..." - seriously? with one well? I call Bull$hit!
60 BCF at $3.50/MMBtu translates to about $210 million
4 MBO at $103/Bbl translates to about $412 million
Total = $622 million.
Unless they think they are sitting on the next Spindletop, this is a complete fairy tale.
Update on OBJE games released to market:
Bluff Wars (paid version) appears to have had 50-100 installs at $0.99 = $49.50 to $99 in revenue: https://play.google.com/store/apps/details?id=com.fangtoothstudios.bluffwarspaid
It should be noted that OBJE funded the development of Bluff Wars (Android version) for $30,000
Phantasmic appears to have had 10-50 installs at $0.99 = $9.90 to $49.50 in revenue: https://play.google.com/store/apps/details?id=com.PhantasmicBeta.NovalonGames
Creature Tavern - reported to be released in August, is nowhere to be found. The developer, Novalon Games, appears to have vanished: http://www.novalongames.com
Total gross revenues to date (best case) = $148.50**
**For the nine months ended May 31, 2013, the Company had a net loss of $575,135, and negative cash flow from operating activities of $287,136. As of May 31, 2013, the Company has negative working capital of $392,204
QS - so....has Naples Connection fixed their problems with the FAA?: http://www.naplesnews.com/news/2012/dec/22/faa-wont-let-connection-take-off-airport-florida/
"...giving his past I thought it was just a scam but there's product" - yeah, I hear ya - they said the same thing about his Obscene Jeans products too.....
"FTTN: QS, an affiliate of DreamTeamGroup, will receive $50,000 from FTTN per quarter** for 180 days of advertising, branding, marketing, investor relations and social media services provided by QS."
**From the latest 10Q - FTTN has only $40,622 in revenue for the quarter....so over 100% of their revenue stream is going to a paid tout... nice.....
From the latest 10Q:
"....the Company had a net [quarterly] loss of $509,520 and negative cash flow from operating activities of $288,694. As of June 30, 2013, the Company has negative working capital of $231,887."
QS - how does FTTN intend to pay for all of these wonderful opportunities you are touting?
A couple crates of vodka are not going to pay for the hundreds of thousands of dollars in G&A, let alone turn a profit after cost of goods, distribution, etc., for this one man show.
GTSO has one employee and no biofuels assets. This is the same scam they run on SEC suspended GAEC a couple years ago.
thanks - those sources you provided do not appear to be the same corporate name as "Surface to Air Solutions, LLC". Here is the Wyoming filing for S2O2 filed by "Corporate Agents, LLC":
https://wyobiz.wy.gov/Business/FilingDetails.aspx?eFNum=009103152138114104099152052202037171013157246048
Corporate Agents, LLC is formerly known as "Wyoming Corporate Services Inc" - this is the same company that has filed hundreds of sham companies (some also legitimate) for many years - including many run by Delaney and cohorts - read up more here: http://www.reuters.com/article/2011/06/28/us-usa-shell-companies-idUSTRE75R20Z20110628
The fact that Patrick Brown is hosting S2O2's website at NTRR's home address should be cause for concern enough....
FYI - S2O2, NTRR's newest JV partner, is just a fictitious company created by Patrick Brown to give the illusion of doing business with another legit company.
Here is the WhoIs info for S2O2's website which proves he created it:
Domain Name: S2O2.COM
Registrar URL: http://www.godaddy.com
Updated Date: 2013-08-02 12:01:53
Creation Date: 2013-05-19 19:56:38
Registrar Expiration Date: 2015-05-19 19:56:38
Registrar: GoDaddy.com, LLC
Domain Status: clientDeleteProhibited
Domain Status: clientRenewProhibited
Domain Status: clientTransferProhibited
Domain Status: clientUpdateProhibited
Registrant Name: Patrick Brown
Registrant Organization:
Registrant Street: 1111 post oak blvd
Registrant Street: Apt. 1501
Registrant City: Houston
Registrant State/Province: Texas
Registrant Postal Code: 77056
Registrant Country: United States
Admin Name: Patrick Brown
Admin Organization:
Admin Street: 1111 post oak blvd
Admin Street: Apt. 1501
Admin City: Houston
Admin State/Province: Texas
Admin Postal Code: 77056
Admin Country: United States
Admin Phone: 6048167796
Admin Fax:
Admin Email: cbrown8888@hotmail.com
Tech Name: Patrick Brown
Tech Organization:
Tech Street: 1111 post oak blvd
Tech Street: Apt. 1501
Tech City: Houston
Tech State/Province: Texas
Tech Postal Code: 77056
Tech Country: United States
Tech Phone: 6048167796
Tech Fax:
Tech Email: cbrown8888@hotmail.com
Name Server: NS01.DOMAINCONTROL.COM
Name Server: NS02.DOMAINCONTROL.COM
Crossing the finish line? Today's press release touts a prime product placement at winners circle at the World Endurance Race in Austin..... unfortunately, RBW's logo is no where to be found: http://www.fiawec.com/races/6-hours-of-circuit-of-the-americas/pictures-and-videos.html
"... now that sales are underway..." - HUH? ASCC promised a summer launch - we are now in the Fall with nothing but hype - when are we going to see this on the shelves? When is ASCC going to go into the distribution business (ref.: Top Shelf Distribution subsidiary)?
QS - nice glossy. Unfortunately, it has no substance - 14 pages of what they "hope to" and "maybe do" one day. Interesting to note is Robert Wilson's bio includes him being CFO of an aviation company. That company is AAVG - a company that is quite delinquent (2011 is their last) in their SEC filings, and is destined for the Grey Market: http://www.otcmarkets.com/stock/AAVG/quote
He was also director of AEND - yet another company that has gone to the grey market, as well as GAEC (suspended by the SEC).
Not exactly something a CFO would want to put on their resume.
LOL - BLFR copies QUAN's press release on 3D printing:
http://www.marketwatch.com/story/big-opportunities-opening-up-in-3d-printing-market-2013-09-17
http://www.dailyfinance.com/2013/09/24/bluefire-increases-competitive-advantage-with-3d-m/
pathetic....
By "management", we can only presume you mean Robert Federowicz, the sole employee of this one man operation?: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73218067
RG - you stated "...ASCC, who has never pumped..." - what do you consider to be "never"?
What about the much hyped alleged Hollywood Movie that had a product placement for a product that did not yet exist?
What about the promise to move into Canadian markets?
What about the "summer" launch of the vodka product and all of the special Hollywood party premiers?
What about the promise to become a distributor in Texas?
What about these pumpers that spammed this board for months?:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86846518
BlueFlail...
FYI - OMVS' new CEO, Robert Wilson, is the former director of Gulf Ethanol (GAEC f/k/a GFET) - appointed shortly before it was suspended by the SEC:
http://www.redorbit.com/news/business/1425514/gulf_ethanol_corp_interim_ceo_letter_to_shareholders/
http://www.sec.gov/litigation/suspensions/2009/34-60410.pdf
QS - Ouch - 20% drop!....when does your 180 day promo end?:
OMVS: QS, an affiliate of DreamTeamGroup, will receive $100,500 from OMVS for 180 days of advertising, branding, marketing, investor relations and social media services provided by QS.