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 just spoke to Carol about Heritage. All calls to L2I related to Aurus are automatically relayed to Carol. Carol
said that G. Parkin calls once in a while to speak to Mr. Legault or Mrs. Lagace but she had no idea what has been the content of their conversations.
I gave Carol a rundown on the TA situation and hopefully she will pass the information along to Mrs. Lagace. If they are going to act in the best interest of Aurus Corp., they will certainly try to help resolve the TA dilemma.
As far as a PR is concerned, Carol has been asking Mrs. Lagace for something to tell shareholders --she said she is getting calls all day long from investors -- but L2I will not even tell Carol any news. That is one tight ship!
I told her I would call each day until she has news for us.
She still doesn't know where or when the special meeting will take place.
Moe just called me back from Heritage Trust. He said he will be presenting an ultimatum to Aurus in a few days to get them to uphold their end of the agreement before he resigns as their TA. He said he has been swamped with phone calls from shareholders asking for certs and other verification that they are the TA for Aurus. As of right now, they still are.
Emily -- Please give Moe a call at 416-363-1240 and let us know if he told Aurus he is resigning as their TA.
I just called Carol at L2I. She is Christine Lagace's secretary. Carol told me that Mrs. Lagace returned from vacation and that today was her first day back in the office. Carol said she hopes L2I will release precise information about the date and location of the shareholders meeting this week. There was no promise of a press release tomorrow.
As far as getting tidbits of information, L2I is the opposite
of Heritage Trust. Moe is ready to tell all, but Carol has very little if anything to say about their dealings with Aurus Corp. When it comes to talking about their business with clients, L2I runs a tight ship while Moe is a bit loosey goosey.
Thanks. You must be T.
Got in today at .32 and .30. Looks like it's ready to bounce.
I wouldn't buy more unless I saw solid signs of a reversal.
I like Malyshev, but I gotta say, that is one pathetic looking chart (see I-box).
I just spoke to Carol at L2I. She said she has no news right now, having just returned from vacation. They are having meetings throughout the day today at L2I. I asked her about where the Aurus shareholders meeting would be and she said nothing is confirmed, but that there would be news on Wednesday. She didn't guarantee that the PR would come out on Wednesday. What she said was that I could call her on Wednesday and that she would have some news.
The road to the London AIM is a path well traveled by Russian
companies. It appears to me that with the acquisition of SNGF,
NWOG will have a better chance of making it to the next level.
They will have the assets and the cash flow. It won't be as difficult for Malyshev to get set up on AIM as it has been to become established as a pinksheet stock which is an exchange where he has no clue and no one to point him in the right direction. Hundreds of Russian comnpanies have made their mark by reaching the AIM and he just has to follow in their footsteps.
Thanks, Carl. Of course what Carol told someone is not an official promise by L2I. Carol also told me the PR would be out no later than August 6th. She didn't know it would be held until after the vacation.
What I'm saying is that the date is not fixed, so let's not panic if we don't see it by the 15th.
I just looked over the infomation memorandum concerning the proposed acquisition of SNGF. I like the solid increase in production forecast over the next five years. Over ten years,
they expect a total profit of $90 million. The company has been profitable for the last several years with sales and profits increasing each year.
It's too bad that although the report is dated July 2, 2007, it does not include annual figures for 2006, only for the first quarter.
The balance sheet is strong. Financial ratios are healthy.
The report speaks of an oil producing field named Ostrolutskoye. It would be nice to get an update on how that field has progressed since its production test in 2005 which reached 10,000 tons of crude oil.
In all, a great acquisition for NWOG. Wow!
Note: All of the required information appears on the balance sheet, but the items are in reverse order from GAAP standard presentation. For example, assets should be listed beginning with the most liquid, i.e., cash and cash equivalents, and ending with fixed (depreciable) assets.
Been waiting.
DOS -- This comment may be well-deserved but it is definitely
OT (post 66936).
Moe told me about a guy who calls him from California. Is that you he was talking about?
Just wanted to mention that L2I did not state which day the PR would be released next week. They only said "next week".
My prediction No. 1: The PR will be released by 8/15/07. It will announce the date and location of the special shareholders meeting. The meeting will take place around Sept. 15th in Burlington, VT. Gerald Parkin, disguised as a security guard or possibly as a janitor, will attend. He will remove his disguise after all of the shareholders have passed through a metal detector.
Prediction No. 2: The Company will work out its problem with Heritage by paying what they owe. The dividend will come through before a buyout is completed or, if a buyout does not take place, by the end of the year. Ibreken and Emilyrobert will not receive the dividend because they have no faith in Aurus.
Prediction No. 3: The deal previously announced of a cash buyout of all outstanding shares for .55 will not take place because the Company is easily worth $2-3/share. Adopting a new business model, Aurus will attempt to become fully reporting, move to the OTCBB, attract new investors, increase production and find a buyer that will pay what the Company is worth, all within the next two years. To calm the agitation of shareholders at the meeting, Aurus will pass around a tray with pieces of bling made from the gold in their tailings, just like in The Godfather, and each shareholder who took the trouble to attend the meeting will get to pick one item from the tray. 2Create will be on hand to tell you the value of your bling and he will show home movies after the meeting.
I had talked to Mr. Blank before the vote was postponed. It has always been their intention to finance the project by a combination of equity and debt. How much of each? was the question. I think we all know that with a start-up enterprise, you are always having to make adjustments. Nothing goes exactly as planned. They may end up having to
open one plant first before construction of the second plant begins. Who can say for sure? I expect the Company to acquire
an existing ethanol plant before the second AENS plant is completed.
The first plant will be in Iowa and will start off as natural gas but will quickly change over to biomass (coal). At least that is the plan.
The language of the 10-QSB is that of a start-up developmental enterprise. Speaking with Mr. Blank, I was assured that there are banks ready to finance the business's plan to construct ethanol plants. The 10-QSB gives the figure of $760M needed to realize the construction of two plants and we know that will be through a combination of debt and equity.The degree of dilution is not yet known, probably not even to management.
It would not surprise me to see the company go ahead with the first plant and also acquire an existing plant before the grand opening of plant number one. Mr. Blank told me that groundbreaking for plant number one would take place this fall. If that doesn't happen we may see investors bail.
Judging by the way the share price responded to your posting Moe's threat to resign as TA if he doesn't get paid next week, I think we will see a spike in a few days even if the PR were only to announce the time and place of the special shareholders meeting and nothing more. But I think we can expect a whole lot more.
DOS, best not to take anybody's negative remarks here too seriously. Although post 66666 sounded to some like the devil's work, I assure you that everyone really appreciates your contribution to the board.
When I told Moe they might be dealing with another TA, he found that quite funny. For now, Heritage Trust is still the TA for Aurus, although it was never announced in a PR.
Aurus is supposed to pay Heritage about $5,000 which I expect them to do by the time the meetimg takes place. I'm sure that even if Moe resigns temporarily, when the money is paid and the paperwork is cleared up, he will be back on board. This kind of thing goes on all the time in business and is not cause for alarm.
As for L2I, they don't seem to be having any problem with Aurus and they are dealing directly with management through a translator. It is my opinion that the PR is ready, but they chose to hold it until everyone at L2I is back from vacation. It is my guess they will release it on Tuesday, but it could be on Monday or as late as Wednesday. Just my opinion.
When I told Moe there was to be a shareholders meeting, he was puzzled how they could have a meeting without informing the transfer agent because such meetings are generally arranged for a shareholders' vote. That means all shareholders have to be notified officially, and it is the transfer agent who has
all shareholder information. Obviously, this meeting is not about a vote.
To contact Heritage Trust by phone: 416-363-1240.
I just spoke to Moe at Heritage Trust and he told me the corporate paperwork from Aurus is not in order and that Heritage has not been paid anything to date by Aurus. He said it would be very easy to fix the paperwork problem and it could have been done weeks ago. Heritage has a signed agreement with Aurus, but he confirmed that they will probably resign as the TA for Aurus next week if he doesn't hear from their office.
He didn't know anything about Lagace and Legault, and he didn't know about the special shareholders meeting. Moe asked me to email him the PR when it comes out next week. It might change his mind about resigning.
He told me that he gets about ten calls a day from Aurus shareholders. I was really surprised that he would tell me so much about his dealings with a client of his.
Lochan
After the PR comes out by the 15th, and after the dividend is distributed, and after the shareholders meeting, one thing we can still count on is more baloney from emilyrobert.
My thanks to Buddyrich, 34/54, mdavid40 and DTGoody for your encouraging words and positive input. I've been in AURC since December, 2005, always adding to my position, waiting for the big payoff.
The recent moves by the Company are the most dramatic I have seen in terms of establishing its legitimacy. Heritage Trust
as the new TA to make the dividend happen, L2I to organize the Company's PR and shareholder relations, clearing their tax liability with the State of Delaware -- these are significant developments that will help the Company by improving its corporate image and respectability.
I don't think the BOD would have realized these things are essential on their own. They said they are looking for an individual to act as their new North American representative,
and 2create was probably on their short list. I say that because these recent developments sound like his ideas. I wouldn't be surprised to see him as one of the hosts at the special shareholders meeting (and Mrs. 2C as a hostess).
I expect the PR by August 15th. Any later than that would not give shareholders enough notice to be able to attend the meeting. I think L2I may know by then who will be coming from Russia to represent the Company. If they choose Burlington as the site of the meeting, it will probably be to make the trip less inconvenient for the Russians and Europeans who are coming. They would likely be flying into Montreal and driving two hours the next day to Burlington. It's a very scenic ride.
I have four personal reasons for attending the meeting and it doesn't matter where it takes place -- Burlington, Hawaii, Denver, Chicago or Osh Kosh. One, I need to get away from NYC and see some other surroundings and, two, I want to ask G. Parkin if he was responsible for the faked buyout of NDOL. Three, I would really like to meet some AURC shareholders face to face and raise a glass to our future success as investors in this Company, and four, I would like to meet 2create and see if when he speaks, it sounds as convoluted as what he used to post on IHub.
DTGoody, if the buyout doesn't take place, we're still sitting on a pot of gold. With new management direction, Aurus Corp. could go it alone using a new business model. They could focus on ramping up production on one front and on becoming fully reporting and getting uplisted to a higher exchange on the other front. Those developments would make Aurus a much better buyout target within a year at well over a dollar (my most conservative estimate).
Of course, there is the possibility that the cash buyout is still on the table and will go through at .55, but I believe the original buyout deal is not what will be announced in the PR. The dividend should already have been distributed, and the fact that it hasn't tells me that some negotiation is taking place that has put the divvy on hold.
If production has significantly increased in recent months, the Company may be in a position to declare a cash dividend
and that may be a sweetener to soothe shareholders who are apprehensive about changing the .55 buyout deal to some other arrangement.
Rest assured, this is no scam. A scammer does not hire L2I
for PR purposes and also pay off its state tax liability. If there is a new deal, you can bet it will be in the best interest of the long-term investor and I personally plan to continue to hold all of my shares. And if a new deal does happen, it's either because the BOD felt cheated at .55 or the buyer couldn't come up with the cash.
Note: I remember that 2C was never happy about this cash only buyout. He suggested a combination of cash and shares in the new company produced by a buyout/merger. That would allow Aurus shareholders to continue to profit from the mining of all that gold. Because the moves the Company is now making look like his handiwork, I wouldn't doubt that he is directly participating in the business dealings of Aurus in some capacity. That would certainly explain his absence here.
There will be more to the next PR than just time and place of the special shareholders meeting.
Each time I've spoken with L2I, they have said they want everyone to hear the news at the same time and the news will be included in the PR. They have said they have to clear the contents of the PR with their legal department. That means the news will have real substance. They have said they hope the shareholders are pleased with the news and that we should trust Aurus.
The most recent PR was rather significant. The Company paid its Delaware taxes. They are establishing legitimacy. I don't believe it is meant to make the shareholders happy. I
think it was a stipulation of the buyout deal.
Right now, I'm thinking that the nature of the buyout has changed but that a buyout/merger is still going through. It may even be with a different buyer. If there was still going to be a buyout of cash for all outstanding shares, why would Aurus call a special meeting to discuss a "business model?" Why meet in the U.S. to tell shareholders about recent production and discuss the financials of the past year if we're still going to be bought out for .55/share?
I think this PR is taking time because they have to get it right. In my opinion, the nature of the deal has changed and it will have to be explained in the most succinct way to avoid creating confusion.
I do believe that the Company plans to serve the best interest of its shareholders, so whatever adjustments have been made to the buyout, there will be added value and possibly longer term benefits than with a buyout strictly for cash at the heavily discounted price of .55.
These are not facts, just one investor's opinion.
How could anyone state what the share price will be in one month or in one year? What Malyshev probably meant to say, or should have said, is that because of the progress we are making, if the pps is below .30 at the end of September (that is, after the SNGF merger goes through) the Company is seriously undervalued. And if, by the end of the year (meaning when the stock is listed on AIM), it should be valued at $1.00.
My expectation is that we could be at .30 by year end if the market responds with some exuberance to the Company's achievements and steady oil production, and if NWOG has something substantial to report by then concerning its future uplisting.
In general, investors have a terrible aversion to dealing with pinksheet stocks beause of their shadiness and volatility.
The situation would improve dramatically, in my opinion, if NWOG first moved to the OTCBB. In the minds of investors, that alone would increase the company's credibility and have a serious impact on pps. It would also allow some institutional investors to get involved.
However, I don't expect the Company to endeavor for an OTCBB listing. They don't see it as that much above the pinksheets. Malyshev has set his goal alot higher than that. He wants to be on a major exchange and to move there from the AIM. I think that's what many Russian companies are doing these days. EIK would know.
I am in this stock for the long haul, and if it takes a year or two to reach $1.00, I will still be overjoyed. I wouldn't hold Malyshev to his 2007 year-end prediction. He may not know fully what he is up against on the pinksheets.
As far as a name change and ticker change are concerned,
it's something small-time U.S. companies do all the time, but I don't expect Malyshev to consider that a solution to the problem of NWOG being undervalued. I think he wants to make a big splash and everyone standing around the pool will get wet. He'll do that with production numbers and his expertise in closing the deal. Throw in regular reporting, the AIM listing, then a move to a major exchange and he will have us shareholders eating out of his hand.
All I'm asking, Vic, is for this to go up one half of a penny a day.
"How about Denver?
Or Las Vegas - the Russians can have a ball there."
Yeah, they could gamble away the rest of our money.
I just spoke to Carol about Burlington. She said it is not yet decided that the meeting will take place there, but Burlington seems to be at the top of the list for now. It's 100 miles from Montreal (and the Lagace and Legault offices), 215 miles from Boston and 300 miles from New York. There are direct non-stop flights from Chicago to Burlington International Airport
for under $400 R/T.
She told me she doesn't follow the market. She also hasn't looked at this board. She has next week off and it is during the following week (8/13-8/17) that the PR we have been waiting for should be released. She also said she has no idea who will be coming to represent the Company at the shareholders' meeting.
As far as the date of the special meeting, she said it would take place in early September rather than mid-September.
Of course, everything is subject to change until we receive the PR.
I am definitely going to Burlington, VT for the meeting. My plane fare will be $69 each way from NYC on Jet Blue. Carol told me last week that although she is arranging everything
for the meeting to take place, she will be staying behind in Canada to guard the fort and will not be there in Burlington.
I wonder who will be coming from Russia to represent the company. Anyone hear anything yet?
The spelling is tricky. Try "Lagace and Legault".
My strategy and way of thinking is the same as yours, axel,
except that I'm still holding a few thousand shares.
It's sad, ibreken, that you are discouraging everyone here from
taking advantage of this great opportunity to make money with
AURC just days before a momentus PR is released by L2I. Legace and Legault have vouched for the legitimacy of this company by offering them a $10M bond deal. Do you know more about the Company than Lagace and Legault? Or do you think Lagace and Legault are part of a big conspiracy to defraud Aurus stockholders?
Even if you think its gold reserves are exaggerated, that does not justify causing panic selling by your negativity at this important juncture with big news coming.
I made the call and spoke to Lee Blank about the Company's expansion. He said they expect the industry to consolidate which means the big fish will eat the little fish. AENS may acquire some other ethanol company even before its own plants are opened if the opportunity arises.
We spoke for some time and I have a few more things to report.
The main thing is that the vote to authorize additional shares is on Monday and some shareholders just received their proxy forms today. There is a slow response from Europe and the company may have to postpone the official vote until the
Europeans have had a chance to respond.
Otherwise, there are lots of positive developments. Mr. Blank said several banks are courting the company to provide financing even though it is tougher in the industry these days in general to finance such projects. They are negotiating the best bank deal as well as the best deal with construction companies. They might announce the construction company they have chosen next week.
As far as fuel is concerned, he said initially they will burn natural gas which he said is a very volatile energy source.
But the plants they build will very easily convert to biomass,
some form of coal, which would be done within a short time, and which would cost about one third as much as natural gas.
I asked about when working at ADM whether they had a non-compete clause in their contracts and he said they were employed by them "at-will". Only John Ward had a non-compete clause and it was forgiven by ADM's attorney. He said ADM was happy to see the new company created as new competition because they will have the same mindset, business style and corporate values.
He said AENS will definitely see ground-breaking in the fall.
He also indicated that he was very eager to have a P&L statement to study, which means we could certainly see an acquisition within one year, in other words, before our own plant is producing ethanol.
In general, he was very enthusiastic and eager to share information about the company. He was kind of annoyed about the article that referred to them as the Dynamic Duo, so I suggest we not bring it up in our discussions with them.
If I think of anything else of interest, I'll add to this later.
I get it, and I may put in a call myself just to find out if
the acquisition of an ethanol co-op might precede the opening of our own plant. Revenues from any source could work wonders with the share price of AENS.
Thanks for the link. It will take me a few days to go over the report and digest the information. This is just what we were hoping for, and a deal should be concluded by the end of the summer, as predicted. A great development, and great for credibility, soon to be reflected in the pps.
Hey Coin! CEO Beemer is waiting for your call! I call this
"investor relations" at its best. What are you going to do?
Letter sent to august1991:
Coins,
We continue to wait for your call! If you want to talk to our CFO his name is John Holland.
Thanks,
Mark A. Beemer Founder
CEO and Chairman
Alternative Energy Sources, Inc.
AURC up 11.11%.
People must like your idea to meet in Hawaii.
Glad to hear that, Paul. I really thought you wanted this to go down to .0005.
And while the pps is going up, you'll still be on the outside looking in, flipping burgers at McDonald's.