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 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)
Agreed. I have been fortunate enough to have averaged down, but I still need a nickle before I can break even.
For sure the company does not care about the common shareholders (you and me). Even if Lone Oak does turn out to be the "company maker" that it was previously described as, I cannot see any good for us once the A/S goes to 1.5bil.
Mine too goldbrick...I'm tired of working 4 da man everyday!
I'm doing my part...where are the other Long Rangers?
Agreed. And as everyone so eloquently puts it...never invest more than you can afford to lose. Especially in the pinks and ocb!
Hiya ironore - I take it you're into mining/metals? (GRIN)
Can't believe you're newer to this board than me - I just joined yesterday!
IMO, it really depends on what the company is planning on doing. They may be flippers, dunkers or honestly trying to make a good go of it - I'm thinking maybe the first 2 choices though. Not too long ago the company was in the tanning bed business, and may still be. I'm not saying that good companies can't change their gameplay, but I can probably say with great confidence that they're not made from the same mold as the Murchison's, Hunt's, Cain's and Pickens of the former oil pioneering days. I do believe that the stockholders will be able to make some serious money here - how much you ask? Only God knows for sure, and each of us have our exit point already in our minds. My goal is to make a million or two upon my exit.
As long as it goes way higher after the dip...I'm thinking that long and deep is a good play on this one (IMO).
Spent the last of my bi-weekly investing funds just this morning on 40k more. I am relatively long with this stock, but I have been able to average down to 0.0477 on 720k shares. My target is 1mil before it explodes...probably won't make it though - especially if we hit oil over the weekend. GLTA (but shorties!)
No problem with me Ben - I will be happy to buy your shares at a nickle each...slide 'em on over now if ya want (GRIN)
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!)