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future is priceless alright..
as in zero bid
Please show me what the SEC has to say about Treaty.
The SEC does not comment on the content of any company's filings, they just require that a reporting company does file.
thats pretty normal actually since TK holdings is an LLC set up to hold investments. nothing real unusual there at all.
I agree with you, Treaty is near death, and must issue more shares to survive, OR TK must continue to use their shares for acquisitions....
I think I just hit on something....
TK would have to file a form 3, MM would legally have to file, since he is IR and an associated individual. I find it Ironic that his name does not accompany the PR releases, but his phone # is there as IR. Can we trust individuals to file when they should? I do not trust that.
For example, when the initial 8-k was filed, TK holdings was given 414 million shares, and when they filed the 10-K, they only reported having 270 million , some other guy with 28 million shares and the officers and directors 16 million.., mow if TK holdings transfered shares, they would be required by sec law to disclose, which they obviously did not.
We are bound by law to obey the speed limit also.. doesnt mean we all do that.
hey what about good ol mrpastorius/wordofmouth? he had it pegged...
being fully reporting is akin to being in the phone book, I am in the phone book and I do not brag about it. Being a reporting company is not a metric on which to buy a stock. Thousands of companies report, the fact that a company reports is immaterial. What IS importatnt is WHAT the company reports. The SEC does not pass judgement on what is reported, they just require that you report.
and how did any of that convert to revenue and profits?
Since some of us are so proud that they are a fully reporting company "in good standing with the SEC" why isn't there links to the company's 8-k's and 10-Q's and K's on the I-box?
if I were long TECO I would want oil lower, so that they could acquire properties at a lower cost.
that 2 penny price tag says that the company is worth 9 million dollars. the 10-Q says it is worth less than zero.
companies can not SELL warrants unless it is part of a registration statement. They can give warrants as part of compensation, and the company can get money when the warrants are excrecised. There are 3.6 million warrants issued so far, which would bring the company a whopping $50,000
Who gave anyone the Idea that a loss carryforward would come with a shell? It does not. Never did, never will. A compnay can never buy a tax loss carry forward. If so, you would see the worst companies being bought out just for their caryy forwards. In fact, it is also true that when a company issues enough new shares, they also lose their carry forwards
1- common shares are voting shares. The evidence is the 8-k's that show that a majority of shares voted for the new CEO, and the company acted upon that vote. Therefor, shareholders will always have a say, and the majority shareholder will have final say on anything that needs to be voted on.
2- the restriction is not 2 years. please learn SEC rules and regulations.
If the company wants to be one of those fully reporting companies that attract real investors, the IR ship really needs to be tightened up, IMO.
now i have heard everything
you call a $500 trade at the offer that almost qualifies for painting the tape a great close?
Gotta do better than that.
get that opinion letter ready.
a million? that should be one trade if the deal is for real.
great job IR.. $4,000 per day in trades...
this doesnt trade enough for anyone to have a ton of money in this...
start trading 3-5 million shares a day and then maybe it is something.
$4000 worth of stock trading per day is a total joke.
so, phase 1 has started... hmmmmmm
eeso and Jared will not sue. A counter suit will be the end of eeso. The discovery portion of the case is something EESO and Jared would never be able to live through.
a natural short , as I (and some others) call it is the short position a market maker may have from time to time during the course of regular trading.. someone comes in for 300,000 shares and they only have 190,000 for example , they may fill the buyer anyway, so that they are seen as a reliable source for trades , AKA "getting the call"
PINK SHEET companies ARE NOT protected by the safe harbor provision/ forward looking statement provision they put at the end of their announcements. It is part of that law, you can look it up, and I will not provide a link. i didnt learn that from a link, and neither should you.. seek and ye shall find.
they generally have an opposite order in hand... the MM generally will not buy more size than they have to unless they have a buy order in hand.. the MM isnt buying it because they are nice guys. someone bought xylans stock, i doubt the MM took it in unless they were covering their natural short.
regardless of the company's fundamentals, or lack thereof, the stock (which at this point has no relation to the value of the company) looks higher from here based on the chart and recent volume.
i saw your correction after my post.
BTW look for a GFRE buy recc from a decent analyst shortly. Probably after the reverse split, so that the report will not need to be rewritten
you have to be kidding, they are hugely profitable, does anyone read a 10-Q or K?
FMI
an announcement that the company is now sharing office space in the theater district in Houston is not an announcement that should be put in caps and used as an example of how good the company is, nor should the fact that they are fully reporting. Save it for a meaningful announcement. They are on the BB, they have to be fully reporting. This is like someone being really proud of being in the phone book.
and also, what do you mean by "in good standing" and how would that differ from any other company that reports to the SEC?
What matters is WHAT they report, not THAT they report.
Being fully reporting is nice, and we admire treaty for jumping that huge hurdle that only a few great companies can do. lol.
We read their filings, we see their revenue, losses and share structure. We see that they have a going concern notice. We agree with that assesment.
the tax loss carry forward was gone once they did the reverse merger as per US tax code. Once there were hundreds of million post reverse spilt shares issued, it is considered a new company, and not entitled to transfer. If you could sell or transfer a tax loss carry, there would be tons of acquisisions of that asset, which of course , does not happen.
I am placing the question in a public forum since it is mostly a rhetorical question and really does not need to be answered, since the answer should be obvious to anyone with a modicum of investment knowledge. The question was asked to see what your answer would be.
If what you say is true, my opinion is that treaty energy has no chance of being a profitable company, since they do not have enough shares to effectively acquire assets. If they can not use shares, since there will be no increase in authorized, and they will not issue preferreds, they have no currency other than 15-20 million shares worth $400,000 (of course if you pay with shares for anything , expect to issue at a huge discount)to "build the company" This is woefully inadequate.
If you have any idea how they will "build the company" without either money or issuing shares, please let me know.
If that is true, and there is only 15 million shares left to "build the company" after paying the 7 million shares, the 3.3 million warrants, and the 15 million or so to pay the CEO, how can they possibly use those few remaining shares effectively, since at .02 those 15 million shares are only worth $300,000, knowing they need about 400 k per year for overhead, other salaries, maintainence etc?
and ask yourself that question and think real hard about that before you answer.
so, assuming the CEO gets 15 million shares, and there are 3 million warrabts out, that would show that they are issuing 25 million shares, leaving only 15 million additional shares available to "build the company" if we are to believe that they will not issue additional common shares.
I wonder if they will instead issue preferred shares, which we all know are senior to common shares. That template has already been used, and we know what that happens at that point.
I believe that is their plan.
wrong, read subsequent events in the 10-Q,,,
On July 30, 2009, we entered into an asset purchase agreement to acquire the Vago #1 oil and gas lease in Taylor County, Texas from HiGround of Texas, LLC, a related party. We closed the acquisition on August 10, 2009.
The asset purchase agreement provides that the price for the assets is $175,000, which is to be paid by issuing HiGround 7,000,000 shares of Treaty common stock (an implied valuation of $0.025 per share).
note the word "ISSUING"
On July 8, 2009, shareholders representing seventy four percent (74%) of the voting power of Treaty Energy Corporation (the “Company”) took certain corporate action by written consent of shareholders pursuant to Nevada corporate law. The shareholders voted to elect Randall Newton a director and as Chairman of the Board of Directors of the Company, and simultaneously voted to remove Ronda Hyatt, David Hallin, and Gary Dunham as directors of the Company. After these actions, Randall Newton remained as the only director of the Company.
Mr. Newton, as sole director of the Company, then was appointed Chief Executive Officer of the Company.
We signed a one-year agreement with Mr. Newton, compensating him at $250,000 per year which is all payable in common stock of the Company.
In addition, we signed an agreement with Newton Collaboration, LLC, a Texas Limited Liability Company owned by Mr. Newton to provide accounting and SEC filing services to the Company. Under this contract, Newton Collaboration is to receive $5,000 per month payable in cash or common stock
This only leaves 32 million shares left to issue unless they increase the authorized shares...
NOT TO MENTION THE WARRANTS for 3 million shares that can be excercised...so make that 29 million left. at these prices, newtons salary is about 15 million shares, soooo..... thats about 14 million left..
You will see the additional shares in the next 10Q
it certainly has changed. Did they not issue 7 million new shares to purchase this new asset? It is clear that they have issued 7 million shares , it is in the 8-k. Did they not sign an agreement to pay newton $250,000 payable in stock? that is issuing new shares also, is it not? AND they also promised to pay his LLC an additional $5,000 per month payable in stock?
The amazing part of a "fully reporting company in good standing with the SEC" is that all the hype can be peirced by looking at the financials.
Unfortunately, Treaty is only authorized to issue 500 million shares and 468 million of those are already issued, with that additional 7 million.
The more oil that comes out of the ground, the easier it is to put a real valuation on the company, and the stock will reflect the reality of the situation.
Welcome to the world of full disclosure.
Why Treaty can not succeed ,IMHO
With 460 million shares already issued in a company that, at this time, has very little, the amount of dilution needed to bring on quality producing wells is staggering...
For example, they issued 9 million shares to bring in a property that may or may not be worth $175,000. that brings shares to 470,000,000. The company now has a market cap of $8 million.
If they were to buy a producing property that produces 150,000 in profits, they would have to issue about 1.5 million dollars worth of stock, (10x earnings) if not more, since this is such a low priced stock. that would be 100 million shares or so.. Now, that 150k in profits will not even pay salaries, so you will still have a company with zero profits. To get to be profitable by even 1 dollar, I believe the company would have to get at least 500k in gross operating profits, which means that they would have to issue at least another 350 million shares. Then, to get to 1 miilion in profits, they would need to raise about 7 million dollars, which would be another 600 million shares. With all that dilution, TK holdings will no longer be a controlling shareholder, and we all know what that means..
This is just an opinion and i am sure the share numbers would be off somewhat , but the basic thesis is very valid.
The share structure makes success impossible IN MY OPINION.
really? $600 per month revenue per month hardly warrants a $9 million market cap.
I made more than that as a paperboy back in the 70's. (adjusted for inflation, of course)
ummmm..... pustidity
who you calling "we"?
that would be like the cubs winning thw ws
1- it certainly does... all naked shorts are by definition a "fail to deliver" ...not all "fails to deliver" are naked short sells.
2- why would "PBLS cohorts" naked short sell??? that statement makes no sense to me.