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PB.... go to..... pledgecorp.com... view it under SEC Filings.... Bluetick
Yes sir..... 10-K was filed.
Hope so big G
A consolidation or merger would be a good conclusion from this Hispeed. Like I said before....this thing is like an Octopus! Arms stretched everywhere. Several websites etc.Bring it on !...Bluetick
I hope a change is coming on. They are also hiring more Accountants to try to keep up to date with the financials. I read that on down the release. Like I said before....I'm riding till the end..Hopefully the Billionaire has a plan....Bluetick
Seems we are having to fight to keep our down hole tool, that we had developed, for boreholes here in North America too. That was one long delay factor in getting this going here in the U.S.A. too. The original tool was too large if I remember correctly....Here from page 14....Bluetick......Our failure to protect our proprietary information and any successful intellectual property challenges or infringement proceedings against us could materially and adversely affect our competitive position.
We rely on a variety of intellectual property rights that we use in our services and products. We may not be able to successfully preserve these intellectual property rights in the future, and these rights could be invalidated, circumvented, or challenged. In this regard, while we believe that we have developed our own plasma-pulse technology not based on or otherwise an infringement to, the Licensed Plasma Pulse Technology, the Licensor has not accepted our claim. If our claim were to be invalidated or challenged, we will not be able to deploy our own plasma-pulse technology in lieu of the Licensed Plasma Pulse Technology. In addition, the laws of some foreign countries in which our services and products may be sold do not protect intellectual property rights to the same extent as the laws of the United States. Our failure to protect our proprietary information and any successful intellectual property challenges or infringement proceedings against us could materially and adversely affect our competitive position.
In addition, we are in dispute with the manufacturer of our plasma pulse tools over the assignment of the rights to the plasma pulse tool, we firmly believe that we own the proprietary rights to the plasma pulse tool.
Finally HSS. Page F-12 is an interesting read. Small profit. But the.. Going Concern... paragraphs are interesting. Any comments on this ?
3 GOING CONCERN
The Company has cash balances of $9,170,286 as of December 31, 2016, which is sufficient to meet current expenses for at least the next twelve month period, however the Board of Directors are considering various options as to the future direction of the Company, including the possible sale of our technology and PPT assets, forming a special committee to investigate a possible share buyback of the majority shareholder, Ervington Investments, and/or a possible dissolution of the Company.
Due to uncertainties surrounding our liabilities and whether we are able to realize the full value of our assets, we cannot make any assurances regarding the amount available for distribution to our shareholders.
We have made certain projections relating to the amount of cash the Company expects to have to distribute to its shareholders upon dissolution of the Company. These projections generally relate to the amount of liabilities which must be satisfied before our company is dissolved, the amount we expect preferred stockholders to receive for their equity interest. Each of the above projections is subject to multiple variables, including the timing of a dissolution affecting the amount of dividends payable and the amount of liabilities owed at the time of dissolution. Based upon current estimates, if we were to dissolve this quarter, no assurance can be given that common shareholders or subordinate preferred shareholders will receive any such distribution....Bluetick
Something....Anything... would be nice !
Back to watchin paint dry...Bluetick
Well Peach...Glad your on board with us. Problem is...PROP hasn't given any stockholders any info worth a s--t in a long long time. The last real info we had was on a supposed job in Mexico...That was Propell then. Never heard any results or anything that I know of from that.Now the name change and some new management on board. I've been here for about 4 years. I Learned of the Tech they had from an oilfield worker who said the Tech did for a fact work on the well he witnessed it used on. Cheap and quick to use compared to other reworking techniques...yadda,yadda. We have a Billionaire majority owner and on paper...about 10 million bucks in the treasury. Yes..we should be getting paid in some form or the other. Either money,shares of the company we work for, or barrels of oil. We have no clue until the company decides to tell us. On paper... it should be a slam dunk. A very Green Tech also. No dividends. Just a very cheap share price compared to the money in the Bank and number of outstanding shares the company has out. Others here figure PROP should be closer to a dime a share just because of cash on hand. I'm along for the ride and mystery....Bluetick
THAT was the plan from the start.....along with royalties from PPT use. It would be nice to hear something about some progress either in acquired assets, royalties or some up to date results from PPT usage by PROP or others and what amount it improved oil production in those applications. PROP is about...and I mean..about.. as hard to deal with, as my Redheaded wife is ! ....Bluetick
Yep...I believe Blue Horizon is based across the pond in the UK. Maybe the Texas bunch will answer ya soon.
Was this the number or e-mail on the bond site you linked to that you contacted HS ? Or was it the Texas phone number or e-mail on the Jardine Oil website ?...Bluetick
Thanks Hispeed
So......wonder what the revenues are from this lease. Are we taking money or barrels ? Did you happen to ask them about any...New..( as in 2016 or 2017 ) results from PPT use ? I was just wondering which they preferred using...PPT or WASP. Thanks for checking with them Hispeed.....Bluetick
Yep...You, me and PST2 are already saddle sore from this ride ! Hopefully we will make out well in the end here. I really hope all of us here can put this mystery together soon. I'll keep surfin and lookin for clues as I get time. We have had a lot of help from the new folks. At least we have more people to talk to and help search for news....Bluetick
Well Hispeed... We all just keep diggin stuff up! I do Love a good mystery ! And Brother do we have one here ! Tentacles goin everywhere..I believe that the company is trying to keep as quiet as possible about the tech and possible acquisitions and or acquiring percentages for work performed ( in lieu of money payment ) to get as many old fields as possible during this downturn in oil price. If current owners of stripper fields, or marginal production fields don't know about this cheap application of technology to increase production, then maybe we get it on the cheap ? I downloaded the brochure from the link on the bond thing Jardine had there and around the last page it said the first pay outs would be December 2017 for bond holders. With the returns that are being offered...Some money is being made somewhere ! So... do we own, even partially, Jardine ? If not... some revenue should be coming PROP's way from Jardine using the PPT I would think. Still to me... it looks like this tech works. Now to get a big piece of the oil is left in these fields after normal recovery plays out is the name of the game ! Which could be upwards of 60% of what was the total initial barrels in the reservoir. Hell...I've been in this stock so long, I'm doin like I did back in my wild young Cowboy days...I'm ridin this b!t@h till it bucks me off ! We have a billionaire owner that doesn't do anything small ! I'm ridin into the sunset Brother ! Maybe we can figure this mystery out...Bluetick
BTW... I forgot to mention that under the investors link at the Jardine Oil home page where it shows Roman, I didn't read the entire thing on Roman investing in PPT. I thought it was a repeat of the news article I've read many times. I read it in its entirety and it says just before the picture of the PPT tool that Jardine Oil is the only oil services company in the U. S. that has an agreement to use PPT. So.... do we own Jardine or receive royalties from its use with money or maybe a percentage of oil produced from its use ?.... makein may head spin brother ! .....Bluetick
Well Hispeed...I read the home page of Jardine Oil a Lil closer. At the bottom of the home page there are two links, one for each process. They are the same, but different. It appears from reading under these links that PPT is totally electric and that WASP is hydrolic although it uses electric power to start the process. Your thoughts ? ...Bluetick
Everything that I watch or read leads me to believe that they are the same Hispeed. Look under the link to Jardine oil here...http://www.jardineoil.com/investors/ Why is Roman brought up here, PPT has the patents in the U.S. and Mexico. I wonder if WASP is used else where ? Is WASP in Canada now because of the failed joint venture PROP had for North America ? Roman may have his hands in both ? This link...http://www.businessinfocusmagazine.com/2014/12/reconnecting-wells-with-wasp-technology/ in the 3rd paragraph from the bottom discusses the deployment of a 2 1/8 inch version of the tool for wireline WASP. Propell spent money for the same thing a couple years ago IIRC. Brother I'm just throwin darts here at this. Thing to me is... it appears to work, just better in some oil fields than others. Since Jardine Oil apparently uses both... maybe we can call or e-mail them to get some clarification ?...Bluetick
I'm with ya PST2. I get more puzzled the more I try to find something out on all this stuff... PROP's PPT and Friedland's WASP ( Wireline Applied Stimulation Pulse ). This company uses both kinds of pulses if I'm reading this right. This is a link to Jardine Oil. http://www.jardineoil.com/ I can't remember...Do we have a piece of this company too ? Roman is talked about under the...Investors...heading. Read under each header. They seem to be doing what Pledge is doing in old fields, but they use BOTH tech's. Under the Home header it states that they provide their services in one of two ways...Either a one off fee or Revenue share basis. PST2, wasn't that how PROP was going to get pay for the PPT service also ? Check out some of Blue Sparks WASP news at this link too... http://www.ipulse-group.com/news... It must work. PPT and WASP are being used. But both companies have said in some of these articles that all this is still very new and just getting started. This stuff wears me out. I'm giving ya'll something to read this weekend and looking for your comments and opinions on both....Bluetick
As far as proving if it works or not hispeed... I remembered the SPE or Society of Petroleum Engineers, had documented a test on a well in Kuwait. I finally found the link to a news release from the Propell days. Yes it's old news but,some here may not have seen it. It does work per the SPE. Here is the link...http://www.marketwired.com/press-release/plasma-pulse-sustains-85-production-increase-first-kuwait-well-treatment-documented-2070689.htm
And if the prices don't go back up for a while...THAT.. will benefit PROP in being able to acquire more fields at cheap prices. My understanding is that the PPT works very well in specific types of formations. They are still narrowing that part down I guess...Bluetick
My original understanding of the PPT hispeed was that the well has to fracked as usual first...then, instead of having to be re-fracked the conventional way when flow slows, PPT could then be used to enhance the flow of oil in the tight structure of the frack for... far less cost... than a re-frack, with, in a lot of cases, even more oil recovery than with a re-frack. There would be no environmental concerns either. PPT could be used in old conventional reservoir wells too, instead of water flooding or other treatments, again, at a lower cost to the well operator. PPT works in some formations better than others if I remember correctly. New tech is just hard to get in use I guess because of old people like me that have always did it a certain way. I just figured the cost aspect would turn a lot of the operators to using the PPT in this low oil price time. Pledge may just use it on their assets. That's fine too. I'm just ready for something to start happening..Bluetick
Sorry Big G...I fat fingered the keyboard too quick. As I was saying..That was one reason I liked the stock. A lot of complaints here in Arkansas about fracking. Earthquakes, water wells going bad..etc. This was a very cost effective way to improve well production compared to sand fracking without the side effects so I thought. Made too much since to me, especially after folks that I know told me of the results that they had seen from using this process. I'm just waiting for it to take hold as a common practice, especially on the coming company owned and or partnered oil wells...Bluetick
That was some of my reasoning upon buying
Glad it was of some use to you drkazmd65. I personally have several in the Cobalt space. KAT, FTMDF, ECSIF and my biggest position is in CTEQF. CTEQF has several things going for it in different areas like Cobalt, water treatment, nickel, and a rare element that will be in great demand in the short future...(per the best in the business) Scanidium. That...Best in the Business being...Robert Friedland. This is one of his companies. Do some DD on it. I think you will agree...Bluetick
Hey Big G....That's what us long term longs here have always run into. No news and no one to talk to. It's like investing in a secret company. And as long as the Billionaires are here...I am too. I think that finally all of you are seeing what a few of us did about four years ago. Hopefully this makes a large company some day...Bluetick
An article from Seeking Alpha yesterday https://seekingalpha.com/article/4086674-cobalt-3-stocks-watchlist ...Bluetick
Just figured that we would have heard from them.....Bluetick
Hey PB... I wonder where Newshound1 and Tayrson are ? NH1 was all over this with news in April. Hope that they aren't missin out on this run.....Bluetick
You are the man Sibware ! All the DD on one page for all us old hands,and the new ones. I am still having a hard time understanding why no one has found this little jewel until now. Still no ...new... news ( Imagine that from this company ) LOL ! I think that they wanted to be under the radar on purpose. Thanks a bunch Sib !.....Bluetick
Hey PB. Just saw your post ! Yes it is time my friend. We have hung in here and believed in this company's Tech and Rich owner. When a friend of mine in the oil fields told about what he had seen this Tech do....He told me to sell the house and buy this, because he was going to after seeing the results in the field. I didn't sell the house but I have kept on buying slow and steady. I did about give up a few months ago when we were getting a little POed with the downturn in share price, but I kept hearing the excitement in my friends voice. Then I happened to wonder about the tech used by Robert Freidland to find the massive copper field in Africa ( IVPAF ) and saw he was using this type of tech too. I was sold on it for sure then. I have been and will be a long term holder here. At least we have folks to talk to now and hopefully find out more info on PROP....Bluetick
Got to go to work guys. Keep this baby rollin and I'll catch yall this afternoon. Again...Welcome aboard. Hope we can continue up on well results and fundamentals. I believe its coming...Bluetick
Haven't found any other than money knows money. They are both MEGA successful, and here in the same Tech. Enough for me ! RF has continued to make me good money. IVPAF,CTEQF,CDBMF to name a few. People are investing in CTEQF for their Cobalt, I'm in it for their water cleaning Tech and RF's ties to China....Bluetick
Welcome to all ! It has been lonely here for a while ! Lol !....Bluetick
Yes Sir... That helped make my mind up to buy into this, not counting being owned by a Billionaire with 51 % control in it...Bluetick
http://www.ipulse-group.com/Technologies Scroll to the bottom of the page. Heck.... the whole web site is very interesting... Bluetick
Did yall see my link to where Robert Friedland uses this tech too...Bluetick