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By all accounts, including the final audit for the last 8 years as well as SEC filings, Kimmons came out on the short end of things in terms of compensation.
If you have evidence that contradicts this assertion feel free to present it. For example, do you know anyone who served as Kimmons' broker? Anyone who knows for a fact that he made a killing?
Your information relates to the compensation agreements that were put into place for each individual in 2008. Granted, the documents exist.
However, the company did not pay the Kimmons what was in the agreements because it did not have the money.
Like I already said, if Kimmons had received stock or cash he would have had to file the information with the SEC. Kimmons was not paid what he was owed.
In short,just because contracts were in place and reported does NOT mean that payment occurred.
This is easily determined by reviewing the audit.
Kimmons was selling expensive shares to raise operating capital for the company. It's unfortunate, but not illegal. Do you remember what happened in 2008? The crash? Things were tough, especially for under-capitalized small caps.
Also, let's not confuse the issues of toxic funding and reverses with the accusation of ill-gotten compensation. The facts speak for themselves.
No. I understand completely. As a CEO of a publicly traded entity, Kimmons was required to make personal filings to the SEC every time he sold shares to his own benefit, irrespective of whether the shares were designated as "compensation" or "toxic debt financing."
The SEC doesn't care. If they were EDWY shares that were sold to Kimmons' benefit, they have to be reported by him.
The only shares he reported as sold to the SEC occurred a dozen years ago. He did not sell or make money from EDWY stock for at least 10 years.
And what about the 728K shares he returned? That's not the action of a nefarious character.
Let me put it in layman's terms. The evidence shows that Kimmons was not padding his own pocket.
If that were the case he would have had to report his earnings to the SEC. What little he made he reported.
Kimmons did not materially benefit from selling toxic shares. The audit went back 8 to 10 years and includes every stock transaction. It shows there is no smoking gun.
Granted, EDWY sold expensive shares to cover it's operations. The fact is that overall, very little money was raised over all those years.
And it's clear from the audit as well as Kimmons' personal SEC filings (required of every CEO) that Kimmons benefited minimally, if at all.
The bottom line is that all of the indicators refute your contention.
No refund is due. Kimmons did not make anything to begin with.
Of course not. The audit shows Kimmons did not make any money selling EDWY shares.
I have already posted an update about Kimmons' stock. He has not been a shareholder since April, 2015 (over a year).
The 728K shares (originally 1.4B pre-split) he received as compensation for the last half dozen years (in lieu of cash)was returned to ESCU when the new team came on board.
So at the end of the day Kimmons, at his own volition, was not compensated via performance-based shares.
In addition the audited financials show he did not benefit significantly from EDWY's sale of shares to fund its operations.
So over the years he was not paid significant cash and did not sell any shares.
He left the company with an exciting new possibility, ESCU, that can be a real winner.
According to ESCU management Kimmons has no stock in ESCU and is not involved in any way. He is pursuing other ventures.
So my advice is to quit worrying about Kimmons. At this point ESCU is the last thing on his mind.
Just to make things perfectly clear here is what I know from talking to ESCU:
1. ESCU has an active Nevada business license.
2. There is a Deposit Chill (not a trading suspension) on the stock. ESCU plans to submit its approved S1 (forthcoming) to DTCC to have the chill removed.
3. ESCU is going through the process of getting its S1 filing approved. Everything is going as planned. Management tells me they will make their 3rd filing at any time now. Companies file an average of 3 to 5 times to secure approval. Management is thinking positively that this filing should answer most of the SEC's questions. This is the normal procedure for securing SEC approval.
4. ESCU management is paying for all legal, accounting and audit expenses as well as the normal costs of operating a public company (transfer agent fees, registered agent fees, Sect of State fees, etc) out of its own pocket.
5. Management says formal announcements about the company and its plans will be forthcoming with S1 approval.
Since your are doing "through" research, where is your evidence that ESCU is taking shareholder money and sending it to Canada? What shareholder money?
I've already responded to your prior reference to Kimmons.
I suggest you reread what you posted.
The quote from ESCU's S1 filing says that the tax credits expire in 2031, not that they will not be used until then.
Ya gotta love it folks!!
The ESCU guys have been paying for everything out of their own pockets. They have significant hide in the game at this point.
They're motivated. They don't need to be reminded of their priorities.
That's a wild accusation. Any evidence to back it up? Or is this just hurtful speculation?
Yeah, OK. Whatever.
Kimmons is not a shareholder. He returned all of the shares he received. He did not sell a share.
WRONG. Everyone knows Kimmons returned all of his shares in April of 2015 when the new team came on board.
ESCU is current with the Nevada SOS. Get the facts straight.
ESCU is current with the Nevada SOS. Get the facts straight.
I recently invested in ESCU, not EDWY or the Kimmons family. I am interested in relevant information about Escue Energy and my stock investment.
ESCU is doing very well. It has a valid, independently assessed $40M asset, a professionally conducted audit that has been submitted to the SEC as part of the S1 filing, and an outstanding opportunity in the marketplace. It has created this with money out of the pockets of the new team members. ESCU has not sold a share of stock in the market and is moving to uplisting. All is, indeed, very good!
Any representation otherwise is untrue.
That's total BS. The audit went back 8 years. They had to go back that far to pull everything together. Do your homework!
Wow, I guess I should let them know that their time and money have been wasted.
Who knew!!
"Proven"? Your accusation is not supported by the facts:
1. Kimmons has never been involved in ESCU. He left the company 3 years ago.
2. There is no evidence that he has played a significant role in FZRO. He is not the CEO and has had no visibility in the company.
3. The audit of EDWY proved allegations of previous misdeeds incorrect.
ESCU posted its quarterly report with OTC Markets. I'm sure they will renew their 6 month agreement before the EOM. Or, possibly there's a pending up-list. You could always call them and ask. I've found that they are very friendly and readily respond to questions.
FYI I invested in ESCU, not EDWY and the Kimmons of the past. I am interested in seeing my investment grow. Therefore I respect and appreciate factual, positive reportage.
The discourse I see here is a distraction at best and at worst is a threat to my investment. I am fearful that it is the latter of the two.
The new group of people at ESCU is doing well. They are taking care of the business at hand, which is the audit, SEC compliance, up-listing and removing the chill. All good things!
ESCU is doing well and is proceeding according to plan. Their team is doing what it needs to do in order to move forward.
I can confirm that they accept phone calls for those interested in finding out what they are up to.
All is well with ESCU. They are completing their S1 filing and moving forward. ESCU is doing everything the right way.
I have been in contact with ESCU. All seems to be going well. They are getting ready to make their reply to the latest series of questions from the SEC. They are very close to wrapping up the S1 filing. Then they will upgrade to a higher trading venue and petition the DTCC for removal of the chill.
Nope. How could that be? He's not calling the shots in FZRO. From what I hear Kimmons has not been involved for a while now. He was never the CEO and from what I can see from the filings has not had shares to sell.
Go ESCU !! Looking good !!
What a crock!! ESCU has done everything the right way, so go for it!
Is Kimmons an officer or director? NO
Is he an affiliate? NO
Is he a consultant? NO
According to ESCU's management, the S1 SEC filing and the audited ESCU filings Kimmons has absolutely ZERO involvement.
Also, a call with their management indicates he and his family have not sold a share of stock.
This is an OPTIMUM scenario in terms of ESCU's stock. Incredibly tight, with NO SELLING. Wonderful setup for what's to come!
Get your facts straight. ESCU did not "buy the shell" from EDWY. Where do you see that in the financial audit? Answer: NOWHERE
You will see the quoted verbiage updated in the next filing to reflect what I said.
No stone was un-turned in the audit.
The previous audit for ESCU was in 2008. The current audit ties into the numbers from 2008 and carries forward. The numbers have to match. Every transaction since 2008 was analyzed and properly recorded in the current audit.
The SEC requires a 3 year audit. That's why you are only seeing the numbers for the last 3 years.
CORRECTION: ESCU is not "alleging" that it has a $40m asset. ESCU is stating it as FACT, backed by a certified public audit.
Let's be accurate here.
Try reading the audit again. Kimmons has not been compensated for years.