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Nice observation.
Agreed. My first buy-in was at .86 or .87 - I have come a long way since then on my average, but as we can all see, not nearly far enough.
Too much greed in the land. We're the pinions to most of the C's in this world.
Been averaging down since last year.
Scheduled for Aug 20 in Las Vegas.
Some of us are long on this stock. I'm in it with 835k shares at an average of .0437 - do the math & you will see why I'm still here.
Good point Steve. I bought more on the low dip today as well, but my average is still right below a nickle.
We are due for a 10Q now (2nd 2008). I am hoping that it will come before the shareholder meeting and give the share price a boost.
My average is twice that of yours, so you know what I'll be doing. The good news is what many on this board has been saying and that is this company has more going for it than this one well. I honestly believe that if you hold, then the stock will again go to your average and higher still. Go with your gut.
U2 - tomorrow's another day, and the 10Q is overdue. Gud pm 2 all!
I have no choice about staying in - my average is .0449
or...he is just not ready for the stock to take off yet. It comes back to the infamous "at this time" comment.
Lone Oak #1 is not commercially viable at this time.
For me it was more of a temporary disappointment. I still believe that this stock can make us some money in the long run, and I am long already (GRIN).
The wording has me thinking...
HOUSTON, July 28, 2008 /PRNewswire-FirstCall via COMTEX/ -- Universal Energy Corp. (OTC Bulletin Board: UVSE), announced today that the first test well at Lone Oak was not found to contain enough hydrocarbons for commercial production at this time.
Could imply that the well would be commercially viable at a higher oil price. Another thought could be that they are waiting until the increase in A/S before letting the "cat outta' the bag" - citing that at oil $127/barrel it wasn't viable, but hey look...at $158/barrel, and after the additional shares available, it is commercially viable. Hmmmmm.......
That would have been the one's putting the news out...
Right behind me (GRIN). There will probably be enuf for all of us at those levels soon....unless they throw us a bone (10Q).
I understand your point...but, one would think that the R&D would have pointed them to this particular location (well #1) as the most probable for oil/gas to be found. IMO
I'm thinking that they will follow this PR up with a quarterly that indicates increasing revenue - just to try and balance it out somewhat.
Hmmmmm....I learn something new everyday. It sounds a bit on the illegal side to me.
There are lots of longs sitting at higher averages too.
I think that you meant to say "to satisfy the number of sells that have occurred" - right?
Where did you read your statement below?:
"They really only need more shares for the CD holders and it's my understanding that several of the twelve people involved are already converted. And one of those twelve was a real problem. He didn't care what price he converted at. Definitely not a company friendly financier."
Agreed. I'm going for the gold in this Olympic endeavor!
Good point! My current average is .0449 and it's going to take a lot more than a nickle to get me to sale.
Hold is my current strategy on this one.
I don't place much emphasis on this PR. They have been preparing to go over to the OTCBB since late last year. The audits from 2006 and 2007 have been on their website since almost as long of a time.
I am waiting, watching & hoping that this company starts turning revenue sooner than later. Thanks for the post - I had almost given up on the news front for it.
I am still buying at these prices. Been squeezing some of my other stocks bit-by-bit to buy more here.
Mine filled about 20-25 minutes ago at that price.
No O/L at all - thanks for the class!
IMO...I can give you 100 reasons to buy into it - it's called per cent increase. The increase in A/S (and most dubiously the O/S as well) will not take place for another 29 days. The company is generating (and has been since December) revenue from several wells. The first well at Lone Oak is most likely complete now and the test results are being analyzed prior to the PR. This stock has no place to go except up for at least the next 3+ weeks. The share price will definitely double from it's current 0.02 price, and perhaps quadruple or more once the good news is released and realized.
My order at 0.015 didn't go through, or there would've been a few more added to that total.
In my speculative mind, and considering just the latest CD of $2mil, they would be able to convert all of it at a reasonable price of 0.02 (100mil shares), but only up to a maximum of 4.99% of the O/S. In order to convert all of the CD (as outlined in the above scenario) the O/S would have to go to 1.75bil.
I think that we can all safely say that they probably will not allow all of the latest CD to be turned into stock. It comes back to just how much they wish the owners of the CD to convert and limit the O/S to an amount equal to 105% of that value.
Only the shares held as of July 4, 2008 will have a vote associated with them. Example; out of my currently held 720k shares, only 320k of them will have a vote (amount held on July 4).
I think that we're saying the same thing here.
They don't have to be the majority now - only as of July 4, 2008.
Eventually, I do believe that the share price will go much higher, however the road will be incredibly bumpy, and there would have to be many good PR's based upon increasing revenue.
bigarow, I disagree with your assumption that the A/S will not be increased at the close of the next shareholder meeting. Prior to the PR of July 8 the extraordinary accumulation of the 250mil shares released were being scoped up by either the CD owners and/or others basically on the inside. All of the positioning was in place on or before July 4 (the date of the fixed vote-per-share count). You can be assured that management is confident that the vote will go to their advantage.
mimurray, I am re-posting the following from a previous message:
Date: Wednesday, July 16, 2008 8:26:41 PM
IMO...
I believe that the latest debenture was complete by the following day of UVSE's July 8 PR. I read most of the 150+ page 8K and from what I understood they would have only been able to convert upto a 4.99% ceiling, or 12,475,000 shares of 250mil O/S. There was a clause in one of the exhibits (that I really didn't understand) that did state that under certain conditions the ceiling would increase to 9.99%, or 24,975,000 shares of 250mil O/S.
If the entire debenture of $2mil were to be converted (at a 4.99% ceiling limit), than that would equate to approximately 100mil shares at 0.02 share price. If the company wishes to reward the debenture holders with the entire 100mil shares at 0.02 share price, then the additional A/S required to be issued would be 1.75bil shares.
So, I suppose the question is...what exactly does the company want to do with this? If they wanted to help the majority of individual shareholders then they would not issue any additional shares until the debenture was paid back, or if they did issue additional A/S they would limit the amount to a maximum of equal the current A/S.
Just the opinion of a long newbie...GLTA (but shorters!)
Ben, the last sentence of the paragraph that you quoted goes as follows:
"However, the Company anticipates that it will need to raise additional equity capital in the near future through the issuance of common stock or other securities that are convertible into, or otherwise grant the holder thereof the right to purchase, common stock."
Maybe I am the only one that understands this to mean that there will be an immediate increase of O/S shares; if for no other reason to cover the CD. I honestly believe that the owner(s) of the CD are either company insiders, friends or family and that the company will use company shares to cover it - not cash.
Will the immediate increase have an effect on the current share price? Beats the heck outta' me. But as for me and my meager holdings - we'll just hold and see.
(all comments here are my opinion only)(GRIN)