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.
Getting the air permit for the second plant was the signal
I was waiting for to start adding to my position. Once we have set up the right combination of debt and equity financing, it will be time to break ground and start pouring some concrete.
Yeah, baby!
Looks like we're back on Parkin time. I remember sending a FAX to the company a year ago because we hadn't heard anything from them in four months and many investors were getting uptight. A PR came out two days later with good news. This
is what I'm expecting to happen here:
Changing transfer agents set us back several weeks with regard
to the dividend, but I expect to see it credited to our accounts in a couple of weeks. Then, because the buyout deal was accepted at .55 and the papers are signed (I assume), we should see a halt in trading, probably around the end of July, early August. Then, hopefully by mid-August, we should see the exchange of cash for our shares. That's what I would call the "best case scenario".
If you think about it, there's nothing really for Aurus to PR. This is a situation where we have to just wait for the company to "Show us the money".
Cash -- Thanks for your PM -- It sounds like an episode
from ER or the new series, Heartland. Best of luck to you
in the coming days, and have a great 4th.
Cash -- I didn't think any company could move that fast.
I thought this phase of testing would take another six months before results were announced. But I see how Genentech would
want to make its move before the July 20 meeting.
Hey, 1CK -- I agree. The financials don't look good, and that's
why this SH's meeting on July 20 is so important. There will be a vote to accept a financing plan that will provide the company with $25M, enough to keep them going for another year
of R&D. During that time, a buyer from among the big pharmaceutical companies may come forward like a knight in shining armor to save the day.
The Company's Dec. 31, 2006 financial report carried a going concern warning, never a good sign, especially with the deficit
now at $246M. They had interest expense of $2M for the year, just to service their existing debt. Alteon now needs shareholder approval to issue preferred shares to receive the financing, must give up a couple of seats on its board of directors, and, as part of the new financing agreement, must arrange a 1:50 or 1:100 reverse split to keep from being delisted from the AMEX. They will also change the name of the Company to Sylvestre Therapeutics (or something like that).
If, on July 20, the shareholders approve, and I believe they will, the Company will be breathing a lot easier for another year. If they can complete the current phase of clinical testing, Alteon will become an interesting buyout target. It looks like their plan to avoid liquidation might just work.
"I'd like malyshev to find a run down gas station in po-dunk saratov somewhere, pick it up from Lukoil or whoever owns it for 5k and announce a CLOSING OF THE DEAL."
euddog -- That's the funniest thing I've read on this board
in quite a while. I hope they close the deal, too.
Aurus had been using Select American as its transfer agent which was taken over by Fairross. Then Aurus announced it had a new transfer agent.
Switching from one transfer agent to another is not as easy as it seems. It takes time. A transfer agent may not be inclined to cooperate with the loss of a client and may stall
for time to make it inconvenient for the client to leave.
Then there is the termination clause to consider. A transfer agent may charge a termination fee of $5,000 or $10,000, so,
while they're in the process of buyout negotiations, who will pay this fee, the buyer of the company or the seller? More time lost having to negotiate these details. Also, the termination clause may allow the transfer agent a certain amount of time, like fifteen or thirty days, before they must deliver all records.
Eventually, the dismissed transfer agent will deliver the stockholder data to the new agent, but not before they receive an official letter from the Company (their client) requesting them to do so. Only then will the data be delivered to the new agent. Then the new agent has to make sure all the filings are in order and arrange for the distribution of the dividend.
Let's not forget that Fairross had to absorb many new clients in the reorganization of Select American. A number of these clients were in total disarray, and Fairross was in the process of moving to a new location. All of these considerations translate into delays in the dividend distribution, but sooner or later, we should get our shares.
Don't worry about the gloom and doom doubting Thomas's. They are just playing with your head and, being unemployed for the most part, they actually have no money to invest themselves. They induce panic selling and, thanks to their efforts, I was able to buy more AURC shares today below .09 in anticipation of the next PR.
The BOD of Aurus approved the deal at .55/share, and the share dividend is to be included in the count, so the deal cannot be completed until the dividend distribution takes place.
Fairross inherited the clients of Select American, but because they were moving, and because of legal complications with many of their clients, they could not execute the dividend distribution for AURC in a timely fashion, so AURC switched to a different transfer agent as stated in their last PR. This was necessary in order to have the buyout agreement signed, sealed and delivered as quickly as possible.
I expect to see the dividend posted to my account in 3-5 business days, max, if not sooner. News of the dividend distribution should push the pps into the mid- to high teens
overnight, never to return to current levels.
On pinksheets.com, a few days ago the transfer agent for Aurus
was listed as Fairross. That name has been withdrawn. Today, the name of the transfer agent is listed as "not available."
What can we read into this?
http://www.pinksheets.com/quote/company_profile.jsp?symbol=AURC
LT -- This dividend was announced by the Company many months ago. It was recently re-confirmed in a PR that the dividend was guaranteed and would not be canceled by the deal to sell the Company.
LT -- I feel everybody's frustration, but personally I'm confident I will receive my 40,000 share dividend within a week. The SEC is already aware that the dividend is going to be distributed, and as soon as Fairross is settled into their new office space, they'll take care of it. As long as they have gotten the list of stockholders of record from American Select, there should be no problem getting the shares into our accounts. Just my opinion.
LT -- You have already accomplished so much, and with so little effort. I'm impressed!
You know how these moves always take longer than expected, and Fairross has to update all of its clients along the way.
No time to respond to shareholders, but I expect the dividend to be distributed shortly.
Didn't you all see this PR? It explains the move to new office space, etc.
TORONTO -- (MARKET WIRE) -- May 07, 2007 -- Select American Stock Transfer announced today a corporate restructure of its ownership and executive management following recent allegations involving a former client of the firm.
Select American Stock Transfer was acquired by FJ Consultants Inc., a consulting firm wholly owned by Jackie Rossel, who will take on the role of President at Select American Transfer effective immediately and whereby Mr. Nathan Rogers has resigned from all offices held at the company. The company has also begun the process of relocating its offices to the TD Canada Trust Tower on Bay Street in Toronto as well as changing its name to Fairross Stock Transfer Company. The move is expected to be completed within the following 3 weeks.
The company has also immediately implemented a series of new control and compliance measures to assure the utmost standards in securities transfer and registrar as well as the implementation of a secured online transfer platform, which will enable issuer clients to receive shareholder list, control logs and many other important reports on a real-time basis.
Highlighted Links
The MacReport.Net
Fairross Stock Transfer
No, really, RJ. I think it's great. What puzzles me is that none of these men -- Beemer, Blank, Voss, etc. -- are restricted by a non-compete agreement from when they worked for ADM.
Distinguished President and CEO of the company, Mark Beemer, handling Investor Relations: I like it, like a breath of fresh air.
CIF, I don't think they gave up on the idea of burning coal
(biomass), but they wanted to avoid the six month delay faced by ADM. As Mr. Beemer points out in his email, the State Board of Supervisors will allow them to apply at a later date to use
coal. There must be some other factors that will enable them to become the lowest cost producer of ethanol. I, for one, would like to know what they are, but these may be trade secrets.
I sent Mr. Beemer the website for Evergreen K-Fuel (refined
coal) that you posted and I'm sure he will be looking into it in the future as an alternative. I must say that they seem to know all there is to know about their industry and their options, but if you like I can pass along any other suggestions you may have.
P.S. I appreciate your concern for the environment and your
most knowledgeable advice.
Sorry, my previous post should have said MARK Beemer.
Reply to my email from Paul Beemer, AENS President:
Thanks xxxxx,
As per our 10K filing, all plants are fired with natural gas, otherwise, we would be required to permit for a major source EPA permit. ADM is waiting 6 months longer than they projected because of this issue. The Supervisors did
not say we can't at some point move to biomass we just need to clear with them.
I remember when you posted that, EIK, about the AURC buyout price, that an offer would be 10-15% above the 52 week high.
Brilliant estimate!
I got to speak with Mr. Malyshev (through a translator) during the last conference call, and my impression was that he is a
highly motivated achiever. According to his perceivable nature, I do not believe he would be considering a buyout deal at this stage of the company's development. He really wants it to move into the top tier of Russian oil producers.
When I thanked him in the conference call for last year's PR at Christmas time wishing everyone a joyful holiday season, he replied that the company is doing everything possible to increase shareholder value.
I don't think he will seriously consider a buyout offer
below $500 million which I would not expect to be made by a major producer before a year or two. In the meantime, we can look forward to mergers and acquisitions galore.
Thanks, CIF. I have sent the information you posted about
refined coal to J.B. Voss by email and will call him on Monday about this issue. He may have some further information for us about the air permits.
Thanks for the link, RJ, which reveals one poster
who bought 50,000 shares at $1.08, hoping for a big payoff
a year from now. Same strategy as mine, but with ten times
as many shares.
John J. Holland – Executive Vice President and CFO
AENS is Mr. Holland's Opus. He saved Butler Manufacturing
$1 million by moving it from Nasdaq to the NYSE. Will he do the same for AENS? I believe that is one reason why he is here
as Exec. VP and CFO, to eventually take AENS to the Big Board.
Great DD, RJ.
Exactly, CCGUY! It looks like the delay here is due to problems encountered getting the share dividend to shareholders of record. The company will have to have confirmation that the shares have been delivered before they halt trading. Then, in two to three weeks our shares will be exchanged for cash from the buyout. At least this is my impression.
I believe 2C is probably looking for new opportunities to put his money to work after the AURC deal culminates. Maybe we should all do a little of the same.
More ethanol, less tequila
http://www.msnbc.msn.com/id/18926019/
Lucullus -- I am thinking along those same lines. Mr. Malyshev said the current cash buyout value of NWOG is $100 million. That is four times the current market cap. Correctly valued, our shares are today worth a minimum of 15.2 cents.
Production is supposed to increase by 50% by year's end, and there may be a merger by the end of the summer, and hopefully a deal in the Middle East (Syria and Algeria) of which NWOG will be a 50% beneficiary.
I hope to see quarterly reports from now on. We will also see an uplisting within one year. All of these developments should push the real value of one share to at least twice the current buyout value of 15.2 cents within four to six months.
I strongly believe a pps of $1.00 is attainable but in my opinion it will depend upon NWOG being listed on a higher exchange.
" I tend to believe he is not stupid but is simply displaying his very short-term deal-swinger/buyout purchaser mentality."
He sounded like that to me yesterday when I heard him speaking in the background during the conference call. He was intelligently orchestrating all of the office activity
and getting the job done. I was impressed.
There is no scam here, only administrative incompetence.
I've got equal money on both, and I like my chances.
That sounds just right, BB. A cash buyout would entail a huge discount below FMV. I don't believe NWOG is a buyout target,
at least not now. Malyshev has higher goals which he will achieve through mergers and acquisitions. Somewhere along the way he will find a finance guru who will teach him about presenting financial data in a formal, coherent manner. If he doesn't take that step toward professionalism, his plans to expand will eventually be thwarted.
Anybody figure out what $33,508,800 refers to on the Statement of Cash Flow?
Guru, guru on the wall,
Who got the cheapest shares of all?
This is definitely the time to do some bottom fishing.
Actually, I am quite bullish on NWOG. There is the Saratov merger that will take place in the coming months, an AIM and/or Bulletin Board listing toward the end of the year, a 50% increase in oil production by 12/31/07 and regular quarterly reports are expected which will show steady growth
over time. I am looking for a pps of .30 by year end and
$1.00 in a year to 18 months.
I think NWOG management was hoodwinked by the accounting firm, which didn't do its job properly. Even a first year accounting student could see the flaws in their audited financials. The company probably won't wake up to this until they get a rejection notice when they try to uplist. Wouldn't be the first time an accounting firm got sued for malpractice.
The audited financials look just like the unaudited financials except for the letter from the auditor. The same mistakes have been reproduced. That's one thing I like about this company:
consistency.
"Why would they have knowingly given up 41% of their company for $10m in value?"
If their own buyout value was $15 million at the time.
What is going on in the Statement of Cash Flows?
Under Operating Activities we have the figure of $33,508,800
but there is no description to explain this line item. What is the meaning of this? These must be the audited unedited
financials.
Cynic2005 -- Do the columns foot?
Great buying opportunity at .037. Today's conference call and tomorrow's release of AF's should have a quick effect on the PPS.
Anyone who's not in yet, this is your chance.