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So, where would the 10% have gone? A charity of Renfro's choosing in the name of the Buyer?
ah, I get it. yes I would agree with that. Then it would be up to Renfro to sell his shares to obtain his own funding as needed.
I still don't understand why you think I'm blaming anyone. You are the one hell bent on blaming. I think that Renfro attempted to get wells running, and it didn't work. I also think Weiss didn't raise any money because he wasn't convinced that the wells held the claimed value. This is simply a deal that didn't happen. It is common and I don't think any needs to be blamed for anything. In order for a deal to be completed each side needs to be in agreement with the terms. In this case they decided it wasn't going to work. I'm ok with that.
And what's with the english lesson? I've never said that he didn't walk away voluntarily.
You are not answering my question. Why would he raise money for something that was worthless? So you wanted him to dilute just for the possibility that Renfro might have something worth buying? That makes absolutely zero sense.
When you buy a car do you pay up front and hope the dealer delivers a car you like?
he has to protect Renfro's image, or else nobody will be there to have shares dumped on them.
The burden of proof would have been on Renfro to prove that the assets were there. Why would he pay up front for something that had no proven value?
Unlike you I don't have inside information so I can only guess that Weiss gave Renfro the benefit of doubt and allowed him to prove the wells would produce. In Early June the wells finally had allowable amounts for the first time in years. Then a few weeks later they were removed. Then the wells were orphaned. After that Renfro resigned and Weiss updated everyone.
Why would he raise money for assets that were worthless?
Thanks, I like this part the best. Especially number 5.
I've never once said it was anyone's fault. I followed him here because he will be drawing a lot of attention to this stock due to his last attempt. I don't know if I'll invest yet or not. I was simply replying to you, who had mentioned the $22 and Sam. So I was hoping you could explain why a company with $23 million in debt was going to suddenly become profitable? I have no doubt they can raise money, but how many shares do they need to dump on shareholders to get the money needed?
I totally agree with you, but companies that contiually raise money and only accumlate debt are not returning value to the shareholders.
Great, they can raise money. I'm fairly sure that the idea behind a business is to be profitable. Not raise money. If the business is simply going to lose money then they are not a business, and should not be using shareholders as their personal ATM. So, yes I believe that the correct decision was made.
So Jim is better off with $23 million in debt than $22 in the bank? Please explain the math to me.
point of service?
I think it is 8.99 or 9.99 for each trade. I just estimate 10. They have some good incentives for new accounts. I got free trades for a month.
Just an FYI, I contacted Ameritrade about the recent BRZL news about future trades being designated trade for trade. Here is what they told me.
At this point why even have level 2? They just do whatever they want anyway...
yeah, seems like there were some 2 million share blocks on both sides that aren't there anymore. One thing for sure is BRZL is always interesting!!
that is assuming that they could sell at .0009. With the uncertainty here, seems like a big risk to make a few hundred dollars.
Also interesting to see that people are willing to buy this many shares right now. Apparently they are not afraid of this new development.
Another thought on our trade for trade status. Is it possible that this is being done to confirm that Renfro gave back the 480 million shares like they claim he did? Seems reasonable that they would want to make sure that he didn't sell shares and then claim to give them all back.
I think we already were, what else could happen?
here, it will be just like old times. I'll do DD and someone else can claim it was their's.
The percentage of common stock is calculated based upon 111,924,927 shares issued and outstanding as of February 28, 2011.
http://sec.gov/Archives/edgar/data/1326252/000138713111001485/fox-10ka_0808.htm
this was already a sticky though.
http://ih.advfn.com/p.php?pid=nmona&article=48527309&symbol=FXPT
I've found this Q&A and it seems like a positive long term thing for us. Getting the shorters out of BRZL
http://www.justanswer.com/finance/4olnl-hello-i-question-relating-securites-trading.html
Ok, I'm not familiar with what is going on here, but what I'm reading makes it seem like action has been taken to prevent suspect trading of BRZL. While the events that led up to this were definitely bad, I suspect that this action may be a good thing for the long term for shareholders. Although, I don't know what will happen in the near future.
My guess is that they are realizing BRZL was being maniipulated, and they are taking steps to rectify the situation. Looks like the trade for trade means that they will not allow shorting, and I suspect that they have figured out that people were selling shares that didn't have and weren't covering.
Why would anyone panic and sell here. Renfro is no longer involved with BRZL, and everyone knows that.
that was it
Don't know. You could ask him.
I don't know if the fines and violations are a big deal. If it is the equivalent of a speeding ticket, then it isn't important. If it is more like a DUI then it is a problem.
All of those are Petroleum Capital's. I would guess that the ones from 1977 were a different owner.
07/20/2011 X NO RESPONSIBLE PARTY/CORRESPONDENCE UNANSWERED
Not that it matters anymore, but here it is
http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_orgad?p_orgid=P174
what about the start of a technical bounce?
I missed the last 15 minutes today, and just now realized over 2 million shares marked as buys during this time. Anyone else find this interesting?
so, you are an insider now. just 3 short months and you've got a direct line to the boss. did you apply as an intern after you made this post?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63079096
oh, good please post a link where we can see this news. my google alerts must be slow
Jim and Sam
As CEO weiss works for the BOD, which was Renfro. Renfro would have to approve any share restructure. So why didn't he do something to allow for fundraising?
ok, obviously Weiss wasn't going to pay $700k out of his own pocket. It would have come from the selling of shares. So why didn't Renfro issue preferred stock, to maintain control and then sell some of his commons to raise the money? He was the majority shareholder on the BOD, why is it that weiss had to come up with this money?