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Unfortunately this is just some message board poster's OPINION, because you don't have ANYTHING to show that ANY sales have taken place.
Since we all have OPINIONS, it really doesn't mean much and certainly isn't factual.
Ah... so you called the company and THEY told you it was a GAME CHANGER. And clearly because everything the company say's come's true, then it must clearly be a GAME CHANGER.
Oh wait, now that I think about it there simply hasn't been much of ANYTHING the company has said that's come true. So if that's the case, then telling Joe Schmukateli that Matthews is a GAME CHANGER is probably just more useless rhetoric that was used to assist in the dumping of stock.
Ahhh... so now they want to start constructing caskets and urns they can't even sell.
Hmmm....yes, that makes perfect sense, clearly any financial institution would loan them money based on that brilliant business model.
IF and HOPE are the two most commonly seen words on this board.
Unfortunately neither of them have EVER done ANYTHING to increase shareholder value, or come to mean ANYTHING with regards to ETNL.
HOPE in one hand and ETNL in the other, see which one fills up first.
Nooooooo that's in the past and completely irrelevant. Nobody should waste their time and look at the track record of unfulfilled promises and utter destruction of shareholder value due to dilution and reverse splits.
You should definitely call the company or call Tony, either are sure to reassure you and make you feel all warm and fuzzy about tomorrow. But whatever you do, don't ask them about TODAY or YESTERDAY and the hundred other yesterdays, asking them why they've left sooooooooooooo many promises left unfulfilled. Don't ask them about all their glorious PR's about buybacks and ending dilution. Don't ask them about anything realistic, or at least don't expect a realistic answer.
But yes, definitely call the company or IR and you're bound to want to buy more. Maybe you can get your friends and family to buy more, like so many on here have stated in the past. Unfortunately if that's actually true, they've likely been disowned by now.
Always Nibble Nibble Nibble, but you better start now, or you won't be able to get any cheapies because of the mad rush to buy up all the stock.
Unfriggin real....lol
Stupid things locking up again, but I'm gonna go get my 5 miles in anyways.
And yes, well Mr Pot has been trying to call Mr. Kettle Black and he's just not getting away with it anymore...lol Actually, he just lacks much support from the rest of the con artists and since there's nobody else to defend the POS he's left all alone...lol
P.S. Did you get your voting guide from your local Tea Party rep or via email? If not, I'm sure you can hit the website and download it.
I'm guessing you dumped CLDR at some point last week???
INIX To Da Moon....lmao
11:55 AM ET Ambac misses interest payment, may file bankruptcy
Marketwatch
This dog isn't dead yet, but it's on it's last leg...lol
Back at ya NH, 22 yr's active duty, mostly in SPECOPS jumping outta planes, fast roping from helicopters and riding some crazy a$$ ocean going speed boats. But my last 7yrs were at the Pentagon from 96 to 2003 and then I got out and whored myself for a while as a defense contractor...lol
As for ETNL, which do you think they'll do, RS or just increase the AS?
Neither would be good, but at least if they just increase the AS they may try and orchestrate another Pump to try and get the PPS up a bit, before pulling the rug out that is.
I think this is a good possibility, raising the AS that is, because they'll be able to cover it with claims that the additional shares will be used to work out some grandiose business deals. And while we know it's nonsense, it's usually the approach taken by notorious diluters.
Oh yes, the light is still being shed and shed brightly I might add, to the dismay of others I suspect.
Yepper, what's your point? Seemed like a pretty good assessment to me and that's MY OPINION, so in a round about way it lends considerable importance to the discussion.
His lack of character is important because soooo many here advise investors to simply call him for the gouge on the so-called company ETNL.
Therefore, would you really want to BELIEVE someone who'll tell you everything is just find and dandy, when everything points to the contrary, especially when the said individual's only purpose is to tout the stock?
As for his rebuttal, I guess neither he nor the so-called management team, really needs to post on this venue since they have you to defend them steadfastly.
Kinda makes ya wonder if the trust issue should be spread a little wider....Hmmmm
While this is a grand plan sir, you simply cannot summarily dismiss the past when considering the future, especially with regards to ETNL.
And while it does tend to get repetitive at times, it is no more so than the mundane fact less cheer leading. The difference between the two is that those rather less than favorable comments are facts based on what's taken place in the past, while the more favorable slant is all based upon unwarranted/unrealistic HOPE.
So the odds are that if you continue to see baseless cheer leading in an attempt to mislead the inexperienced, you'll likely continue to see factual posting that sheds light on what's actually taking place with ETNL and what investors likely have to look forward to.
Do you really think a Fluffy Loan Update PR will make many start believing?
I mean really, you and I both know there will be no verifiable information within the PR, because there never was any actual loan to verify in the first place.
This may be a limp attempt to mask the final dump before the Reverse Split, guess we'll just have to see how hard they hit it.
And since the LOU is INACTIVE INACTIVE INACTIVE and NON BINDING NON BINDING NON BINDING, it's really not worth the ink used to draft it. But it did make for good pump material, it's really gotten some miles out of the same silly nonsense and initially it assisted in considerable dumping. Unfortunately it's pretty much worn itself out, so I doubt it will get any further mileage.
AND AGAIN, CALLING THE SO-CALLED COMPANY IS A COMPLETE AND UTTER WASTE OF TIME, BECAUSE THEY'LL TELL YOU ANYTHING THEY THINK YOU WANT TO HEAR, AS LONG AS IT DOESN'T REQUIRE THEM PROVIDING ANYTHING VERIFIABLE. THEY ARE EXTREMELY GOOD AT BLOWING SMOKE UP YOUR WHAZOO AND TELLING YOU HOW GREAT THINGS WILL BE, WHILE THEY ARE REACHING INTO YOUR BACK POCKET TO LIFT YOUR WALLET SO THEY CAN AFFORD LUNCH.
AND THE ONLY THING MORE USELESS THAN CALLING THE COMPANY, IS CALLING INVESTOR RELATIONS, AS THEY ONLY REGURGITATE THE SAME MYTHOLOGICAL INFORMATION THAT'S BEEN PROVIDED THEM IN A TOUT SHEET.
Tony is a used car salesman, not someone I'd consider worthy of trust, especially when money is involved.
Give it up already, the whole "bash the company to get cheap stock" just isn't working and just like with El's endless nonsense, nobody is buying it anymore.
With the OS so critically close to the AS, only a VERY VERY brave soul would be attempting to flip at this point in time.
Not to mention that there simply aren't that many sheeple left who'll believe the nonsense anymore, which is why the average daily volume is a pathetic 1 million shares.
Nobody is buying because they know what's coming, so please try another approach to generate interest, this one isn't working.
December is when things should be their darkest, since they have another big chunk of debt coming due.
I think we'll either see them announce/conduct their next Reverse Split by then and get a whole new Pump and Dump in progress.
Or they'll jack up the AS and again try and get another Pump and Dump in progress.
The whole "Call the company" rhetoric is utter nonsense and would, as I'm sure you already know, provide NO HONEST insight whatsoever.
And what's even funnier is how some consider "Calling the company" even remotely associated with what Due Diligence consists of...lol
To make things even funnier, some even suggest calling IR, which is about as much good as calling this so-called company.
Both would be like calling Bernie Madoff and asking if my money would be safe with him.
Exactly Frank, well said, the simple fact is that El knew they would NEVER even qualify for such a loan, so their announcement was just as you've stated before, a ploy to help assist/mask their/others dumping of common stock.
This is a scheme often seen in these crooked markets, so it's really not surprising, especially from El.
What I found extremely funny was the lame comments about them being told by their lawyer to not file an 8-K and simply release a fluffy PR. This is how they circumvented their liability from outright lying to shareholders and purposely misleading investors.
If they were legitimately submitting paperwork for such a loan, it would be considered a material event and therefore require such disclosure. Any silly discussion to the contrary is just subterfuge in an attempt to camouflage their deceptive attempts to assist in further diluting shareholder value.
Another one bites the dust...lol
NEWS RELEASE
OFFICE OF THE UNITED STATES ATTORNEY
WESTERN DISTRICT OF MISSOURI
BETH PHILLIPS
Contact Don Ledford, Public Affairs ? (816) 426-4220 ? 400 East Ninth Street, Room 5510 ? Kansas City, MO 64106
www.justice.gov/usao/mow/index.html
OCTOBER 27, 2010
FOR IMMEDIATE RELEASE
KCK MAN CHARGED IN $7.2 MILLION FRAUD SCHEME THAT TARGETED THOUSANDS OF INVESTORS NATIONWIDE
KANSAS CITY, Mo. – Beth Phillips, United States Attorney for the Western District of Missouri, announced today that a Kansas City, Kan., man has been charged in federal court for his role in a $7.2 million securities fraud scheme that victimized thousands of investors across the United States.
“A federal criminal complaint alleges that Petro America was an empty facade of a business run by deception and false promises,” Phillips said. “Petro’s founder is charged with defrauding unwary investors by selling them worthless stock in order to support his lavish lifestyle.”
Isreal Owen Hawkins, 55, of Kansas City, Kan., was charged in a two-count criminal complaint filed in the U.S. District Court in Kansas City, Mo. Hawkins is the president and CEO of Petro America Corporation. A related civil forfeiture was filed against Petro America on Friday, Oct. 22, 2010.
The criminal complaint charges Hawkins with securities fraud and with structuring financial transactions in order to evade federal reporting requirements. Hawkins founded Petro America, which bills itself as a holding company for crude oil and gold mines (among other claimed assets) in 2007.
Count One: Securities Fraud
According to an affidavit filed in support of the criminal complaint, Hawkins began selling shares of unregistered stock to investors in 2008. At the time, the affidavit says, Petro America had no oil, no realistic prospects for obtaining, transporting or storing large amounts of oil, no significant assets, no revenue and no other employees. The government is aware of no evidence that Petro America has seriously pursued any opportunities to acquire oil fields or conducted oil trading operations. Nevertheless, the affidavit says, Hawkins and others have touted excellent prospects for Petro’s rapid growth in the oil industry.
According to the affidavit, more than 9,000 victims have invested in excess of $7.2 million since August 2008, but instead of using that revenue for legitimate business-related purposes, Hawkins and his co-conspirators allegedly withdrew investors’ funds from Petro America’s bank accounts in cash, which they spent on personal expenditures such as a house by the lake, luxury cars, a $5,700 fur coat, a $37,000 boat, a $5,200 piece of Louis Vuitton luggage purchased in Switzerland, expensive jewelry and travel.
Hawkins, the only full-time employee of Petro America, paid himself an annual salary of $595,000 under a contract that also granted him a $175,000 bonus, 500 million shares that are immediately exercisable, a company car, a company apartment in Missouri, and a dining card. Hawkins drew his salary in cash, in random amounts at inconsistent times, and the company did not withhold taxes.
Conspirators often recruited investors through churches and used religious language in their pitches, the affidavit says, including promoting Petro America as a once-in-a-lifetime opportunity to “share the blessing.” Petro America cultivated a relationship with the African American Ministers Alliance Group, the affidavit says, and according to its records made large payments to multiple Kansas City-area pastors, religious leaders and a local civil rights activist.
Investors lost from $100 to $100,000 each. Initially, many of the investors were drawn into the scheme with the promise that $100 would buy 100,000 shares of Petro America stock, the affidavit says, which Hawkins claimed was “book valued” at $2 per share. As the scheme progressed, conspirators raised the price to invest and claimed an ever-higher “book value” for the shares. The affidavit alleges that this allowed conspirators to unload shares to new investors at an increasing profit. To date, the affidavit says, the stock has never been properly registered or listed on any exchange.
Hawkins allegedly promised “meteoric returns” on investments. At the height of the scheme, the affidavit says, up to $700,000 flooded into the company each month.
Hawkins claimed that Petro America would be “the first African-American holding oil company to go public in the United States,” according to the affidavit. Investors were frequently told that they would be rich when the company “goes public.” Going public, the conspirators allegedly have said for over two years, is just weeks away. In reality, the affidavit says, the company has no significant assets or revenue stream (other than investor proceeds).
Alleged False Claims
Today’s affidavit alleges that Hawkins and co-conspirators provided materially false information to investors. For example, Petro America’s Web site includes a prominent photograph of the luxury office building at Two Pershing Square, ostensibly Petro’s “world corporate headquarters.” In reality, the affidavit says, Hawkins contracts with Regus Management Group LLC, a secretarial service that provides such services as telephone answering, fax and mail handling, use of the address and 16 hours of office usage for an initial monthly fee of $225.
According to the affidavit, conspirators have touted Petro America acquisitions in gold and rock mines as valuable holdings worth hundreds of billions of dollars. In reality, the affidavit says, Petro America’s interests in the gold and rock mines are essentially worthless. Petro America allegedly adopts wildly high valuations for the mines, most or all of which are not producing anything. Many or all of the mines are not actually mines at all, but mining claims. A mining claim is merely a plot of government-owned land upon which a person or corporation has filed a claim of rights to a mineral deposit, which may or may not actually exist.
Based on these representations, Hawkins and others claim that Petro’s assets are worth more than $284 billion. According to the affidavit, if this valuation were accurate, Petro America would be the second-largest company in the United States by market capitalization, larger than Wal-Mart, Apple or Microsoft. America’s largest company is Exxon Mobil, which has a market capitalization of $312.28 billion.
Count Two: Structuring Financial Transactions
Under federal law, banks are required to file Currency Transaction Reports for financial transactions that exceed $10,000 in one day. It is illegal to conduct multiple cash withdrawals in amounts less than $10,000 for the purpose of evading that federal reporting requirement.
The affidavit alleges that Hawkins and others made large cash withdrawals from Petro America’s bank accounts, which were structured to avoid bank reporting laws. For example, according to the affidavit, Hawkins and an unidentified co-conspirator visited Mazuma Credit Union several times each week. Sometimes they made big deposits of multiple checks into the company’s bank account; on most visits, the affidavit says, they withdrew $7,500 to $9,800, often on consecutive days. In this manner, Hawkins obtained at least $537,515 in cash from Petro’s account at Mazuma. The affidavit also alleges that Hawkins structured currency withdrawals out of Petro America accounts at U.S. Bank and Bank of America.
Web Site Support For Fraud Victims
Two Web sites have been established to collect information from the victims of the alleged securities fraud scheme and to provide updated information about the status of the case. Investors of Petro America are encouraged to provide information via an online form at http://postalinspectorsurvey.com/PetroAmerica. Due to the volume of expected responses, this process has been automated and placed online; all communication from potential victims regarding the case should be made via this Web site. Updates about the status of the case will be posted at http://www.justice.gov/usao/mow/petro.html
Phillips cautioned that the charges contained in this complaint are simply accusations, and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.
This case is being prosecuted by Assistant U.S. Attorney Daniel M. Nelson. It was investigated by IRS-Criminal Investigation, the U.S. Postal Inspection Service and the Office of the Missouri Securities Commissioner.
****************
This news release, as well as additional information about the office of the United States Attorney for the Western District of Missouri, is available on-line at
http://www.justice.gov/usao/mow/index.html
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Petro America iHub Boards;
http://investorshub.advfn.com/boards/board.aspx?board_id=7565
http://investorshub.advfn.com/boards/board.aspx?board_id=17087
Just like with real-time and the Forward Split, it will come sooner or later...lol
The biggest problem we've had is dilution/conversion IMO. If that is over with, then we may start to trend up somewhere in the near future.
Of course it wouldn't hurt to see some bigger numbers in the next filing...lol
Thanks Larry, I'm in COMPLETE agreement with you, it's starting to get comical.
It was especially humorous to hear that El had accomplished all they've ever stated, especially when we then saw the fact's and found out what we actually knew to be true.
I mean El's propensity to over-promise and under-deliver is only surpassed by their ability to make ridiculous discounted stock for minuscule amounts of cash deals, simply to line their pockets.
Clearly seems like a case of Selective Memory for some. El has made soooooooooooooo many empty/unfulfilled promises that a statement like "Everything EI stated it wants to do has eventully happened" is nonsense.
Though I'm sure you'll still have those "faithful believers" who will say .....
That's actually a good idea, I don't think anyone could do any worse than El has in selling a product.
Really??? Really??? Any intelligent investor already knows that the LOAN IS NOT HAPPENING.
Yes I'd agree, they applied for the LOC knowing full well they'd not have a snowballs chance in getting it.
And what makes it factual is what all the promoters seem unwilling to realize, they have no assets, they have no worthwhile sales, they have massive debt.
So yes, it was a factual statement and I commend you for pointing out the obvious, it's just how these stock selling schemes operate.
And its typical for the cheerleaders to ignore the obvious and reality, clinging on to Hope and Things To Come for their spin material. Because when it comes to facts, they simply lack anything worthwhile to comment on, so they are forced to spout projections of the glorious and wonderful future.
The future is what their game is all about, because they sure don't want to look to the past or even the present to support their arguments. I mean really, who would want to look back at the previous Reverse Splits and the endless dilution, or paid promotional campaigns. Why not just look to the future, where all is going to be wonderful...lol
Yes and that could be a good approach, as long as you only look to play it for a VERY VERY quick flip, because when the next shoe falls off and the PPS hit's the floor the OS will likely equal the AS.
And once the AS = OS there is only two options left for El management to milk any more money from unsuspecting investors.
Option 1 - Another Reverse Split, but this time it will likely have to be even bigger than the last, because the PPS will have fallen further than last time.
Option 2 - Increase the AS to well over 1 Billion Shares AGAIN.
Either way, both options equate to further deterioration of shareholder value, regardless of what some may have you believe. This is El's cash cow, so it's not likely they'll just close the doors and walk away, they'll go with one of those options and continue milking investors to keep their pockets lined.