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.
I see your point. The rumor of a 1:100 split is built into this price. If the company would kindly dispel this rumor, we would start to climb out of this soup.
Do you really mean that, Vic, or are you just passing natural gas?
The meeting is on a Friday, so I'll be flying up from NYC on Thursday after work.
Even after all of the announcements, PR's and phone calls to L2I, the TA and everyone else, posters here still don't believe the meeting will take place! Understandable in a sense, but still amazing.
Who's going?
True, or you could say it is worth whatever a potential buyer
would pay to acquire its net assets. Similarly, you could say
its worth is equal to the value of future cash flow estimates based on production projections.
The question is really how long will you wait for this to
pay off, and what is the likelihood that the goals I mentioned before will be reached.
In any case, I'm with you -- holding and waiting to see it play out.
I'm not giving investment advice. It sounds like you have a lot of experience making money trading pinksheet stocks. Do you suggest we buy, sell or hold?
IMHO, presently, NWOG is easily worth five times the current price of .015. With a completed Saratov merger, it is worth ten times the current price, perhaps .15. With an AIM listing and audited financials, NWOG is easily worth twenty times its current value. If you think these things will happen in the coming year, buy now.
We should receive the share dividend in a week or two. Some say this is only diluting the present value of shares currently owned, but what it does is increase the credibility of the Company many-fold because the Company will have fulfilled its promise to shareholders.
The dividend distribution and the announcement of the details of the shareholders meeting should push the pps into the mid-teens, IMO. But there's more to come. I expect that with production levels higher than expected, the Company will also announce a cash dividend before the end of the year.
It would appear that the buyout has not been finalized. With the weakening of the dollar, the increased price of gold,
the increased rate of production with new equipment and a geological audit establishing the value of its assets, Aurus
will want to either demand a higher price or seek another suitor, or they might get the buyer to agree to the issuance of a cash dividend to shareholders (maybe 5%) in addition to the buyout price.
In all, this has been a great week for Aurus, and the best is yet to come. My sincere thanks to all of the posters who have kept their faith even during the darker days of price volatility of AURC.
Blue_chips -- stick around. You're going to see some real fireworks soon!
I agree, oilspec. This is a very good PR. It announces that the Company has taken a most significant step in hiring an experienced US CPA firm to audit its financial records and prepare a comparative two-year report to submit to the SEC for uplisting to a higher exchange. It is not required that a microcap company at this level engage a Big Four CPA firm to conduct the audit.
As for who wrote this PR, I would say it could not have been an accounting firm because they would never refer to a Company as an "ongoing concern". You are right that the going concern principle is assumed, unless stated otherwise in an auditor's report to show that the Company's viability is in question.
The report will include two fiscal years, beginning April 1, 2006 through March 31, 2008. It will probably be released in June, 2008. Uplisting to a higher exchange like the Nasdaq could be achieved a year from now. Given the timeline of the audit, we should be seeing consolidated financial statements as a result of the SNGF acquisition. Very impressive!
If you can buy and hold for a year or longer, you should be richly rewarded.
We're starting to see the benefits of working with a great company like L2I.
The vote may be a formality. It may be academic. But it WILL happen. Guitar -- can you name the three amigos and state how many shares they own? That would be valuable information.
According to today's PR, the real purpose of the shareholders
meeting will be to vote on the buyout. The meeting will be scheduled once the share dividend is distributed. This is how a legitimate company operates.
An offer to purchase all of the outstanding shares of AURC
was submitted by Kartex on behalf of an unnamed party. There was an original offer of .38 and a counteroffer to sell at .68. The parties agreed to a negotiated price of .55.
I imagine that the involvement of Kartex was no longer required once the buyout price had been determined.
To fulfill its promise to shareholders, Aurus disentangled itself from Select American as its transfer agent and chose Transfer Online to handle its dividend and the future cash payment for all outstanding shares.
Aurus hired L2I, an IR firm experienced in dealing with microcap companies especially in North America and Europe,
to organize a shareholders meeting in the United States.
Aurus has already taken steps to pay State taxes so as to be in compliance with the rules and regulations of its State of incorporation.
In today's PR, Aurus has reconfirmed that the buyout of .55
per share is still on the table. I see no reason to doubt this.
All of the above-mentioned points are the steps that only a company on the up and up would take to conclude a buyout deal.
The dividend will be distributed, the meeting will be called
and registered shareholders will receive their official notification.
I would expect that even if at the meeting the Company representatives paint a picture showing that a better offer could be achieved by waiting, the shareholders will vote in favor of the .55 buyout. I guess it will take another month or two after the meeting for us to get our dough.
The offer of .55 was submitted by Kartex on behalf of an unnamed third party. That offer is extended to permit the shareholders to vote.
Re: this week's PR, IMO
Aurus will schedule the SH meeting when the TA has the list of registered shareholders who must be officially notified. It is likely that Transfer Online does not yet have that compiled list, just as they are having problems getting together the list of shareholders of record as of 2/15/07. Those are the shareholders who are supposed to receive a 10% share dividend.
I don't believe Aurus wants to have the meeting before the dividend is distributed. If there is a PR this week, I expect
it will announce a postponement of the meeting until mid to late October. The Company will announce that L2I's contract has been extended, and if they're smart, they will at least mention in which city the meeting will take place, to keep shareholders' spirits up.
I think we will see a PR this week about the meeting, but I have a hunch it will not contain all the specifics we have been hoping for. I hope that at least some positive information
is included, something to hang our hat on.
NWOG is not attractive to investors. It has no sizzle.
It has the feel of an old-fashioned Russian company with
no accountability to its shareholders in the West. Like Russia before Peter the Great.
To put your money in NWOG, you have to be convinced of the existence of its assets, its reported cash flows and of its long term potential. I have a tidy sum invested here and I'll give this another six months to show progress and a move to .15 before I give up on NWOG.
Thanks for the pic. He looks like the little general,
but she's no Shirley Temple.
If they don't know how to foot, how are they going to crossfoot?
Right. If the Company makes the right moves, they could get the pps up to .30 within four to six months. Then, to uplist to Amex, for example, they could r/s 1:10 to get it up to 3.00 where it would hold due to positive momentum. Just an opinion.
Right. I've seen a number of these and in every case the value
of an investment dropped one third to two thirds. In a few cases the value was restored within a few weeks, but in those cases, the purpose was to uplist or remain uplisted.
As you point out, we already have part of that drop built into the price of NWOG because of the rumor of an r/s. If the company announces there will be no r/s, they will defuse the rumor and we will see the beginning of an uptrend. IMO
I think an r/s is acceptable only to uplist to a higher exchange where a certain price per share level is required. For now, I would recommend that they set aside the idea of an r/s and announce that it will not occur.
NWOG should focus on closing the SNGF deal which will give the pps its greatest boost. They should also focus on IR to build credibility. Finally, they must get their financials in order. They should be following the same standard that will be expected of them on a higher exchange like Nasdaq or Amex, even if it takes a year or more to get there.
If they do these things, it is possible we will see .30 by the end of 2007. If all they can do is close the SNGF deal, we should be around .15 by 12/31/07, without any r/s. That's good enough for me, so I am buying a few more shares at this level.
It is what it is and it'll do what it do. This is a high security situation and their choice of TA is in line with their effort to maintain silence and release information only as required. Let's be happy with what we got today and the upward price movement that came as a result of a degree of confidence being restored in the Company.
Next we will have news about the SH meeting, and we'll be receiving our share dividend soon, too. It will all be worth the wait. In the words of Christine Lagace, "Trust Aurus."
See post 70234. Not a guarantee, but he was up-to-date on a number of recent developments.
Benz was either misinformed or he made a false assumption.
Or he is being played again by his sources.
Early next week we will get information about the special shareholders meeting in a press release. Soon thereafter we will receive official notification of the meeting and the agenda. We will also be hearing official announcements concerning production and sales over the summer. The next step will be the release of financial statements for the fiscal year. The more information we receive, the more the pps will respond.
The meeting will most likely take place after Oct. 15. If it takes place on the 31st, I will wear a Warren Buffett costume and Emilyrobert will dress as Catwoman.
I had the same impression at first because of the way Slavak answered the phone. Try again and just start talking about Aurus. It's his first week on the job and he's probably either a little shy or a bit paranoid. But you got the right number.
Can't say, but he was definitely Russian originally and now Canadian.
I appreciate your compliment. You weren't being sarcastic, were you? You never know with Emilyrobert. O captain, my captain! I hope you do well and make bank with Aurus.
But now it's time for me to make the doughnuts. I will get back to you later if I hear from Slavakuz.
I think Cabroncita said she made the change this morning
after the PR.
.048 X .049 up 48.48%
Then I won't stop you. I may even join you.
Please, no applause.
I asked him where the meeting would be held and he said all of the information would be in the next PR due out Monday or Tuesday. Now that a transfer agent is in place, registered shareholders should receive an official notification of the details of the meeting. We should also hear soon that L2I's contract has been extended. All in due course.
I'm going to email him to see what more he can tell me
and I'll get back to you if he responds.
Thanks, diggg. I just hope he doesn't get swamped with inquiries from shareholders and then become a clam when it comes to giving out information. I don't know how much he knows about Aurus, but when I told him I had a lot riding on it, he said my money was safe and not to worry, which is what I have been hearing from other sources.
I just called the new office for Aurus Corp. in Montreal
and spoke to someone named Slavakuz or something like that.
He said he has been working for Aurus for one week, but he was able to confirm that a PR would come out on Monday or Tuesday
with details about the SH meeting which had been postponed.
Here's the number for Transfer Online: 503-227-2950.
You may want to register with them online at:
www.transferonline.com
I only got to ask one question which was "How long has Aurus
been your client?" I didn't get to speak with an account
executive, but the office person I spoke to asked someone
named White who said "two weeks".
Just got off the phone with Transfer Online. I was told that Aurus signed on with them two weeks ago. Should give us an idea how long it takes to PR company news.
My daughter's twenty-two, so I can relate.
Thanks for these leads, Benz.