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No production or revenues from oil and gas is hurting the pps. Not even projections of potential revenues. No contract news or revelation regarding the details of the deal with Rio is another disappointment. The lack of interest in EXTO except from a small core of diehards is the result of a disconnect between management and shareholders. IMO
If they are thinking of making the recorded conference call accessible on their website for the benefit of those who could not participate, they should re-record the first few minutes so it can be heard without interference. I'd like to listen to it again myself.
Looking forward to a move up with the next PR, fulfilling their promise for more transparency.
I think if I were a new person just finding out about EXTO/Bayport, I would see this as a great buying opportunity. Oil production is just around the corner. A deal with OXY is on the horizon. There is zero debt on tne balance sheet except for some back wages owed to officers and no deficit in retained earnings, very rare for a start-up enterprise. Current status on otc markets. And a series of PR's coming out soon with news about a resort/condo deal and other developments. With share price at its lowest level, this is a great time to get in (or get more)!
More news coming soon re the resort/condo deal.
Principals promising more transparency and accessibility -- a good sign.
With this company's first conference call for the benefit of shareholders, you'd think there would be more chatter on this board. Very few in the I-Hub world seem to care. I hope they are recording it for their website to make the discussion permanently accessible.
Here is a simple formula to increase public awareness: If you
have accomplished something that is newsworthy, release the news.
Of course, they need to have a budgeted amount devoted to promotion and that is where this company falls short.
Not much they can do with $492 in their bank account.
Peeps loading the boat before the CC.
Sounds like we might hear some projections during the CC with regard to production, revenues, and so on for 2012. I'm all ears.
If they issue a string of PR's during July and August, we should be able to get back to .01 rather quickly. That's a triple from here and worth waiting around for, in my opinion. Of course, I'd like to see it do better than that over the next few months, but I prefer to be conservative when predicting future share prices.
"We are excited to discuss with our shareholders all the progress we have made and what we plan on for the future of this business," said James Porter, CEO, Bayport International Holdings, Inc.
Conference Call Details
Date: Thursday, June 28, 2012
Time: 11:00 a.m. (EDT)
call in number: 641-715-3300
Participant access code: 223297 #
I'd be happy just to hear that the first well has already produced three barrels of oil.
I think we would have to have three wells producing as well as mining production to get that kind of volume, but I like the way you think big.
Open question: What level of volume (buying pressure) do you think it would take to see EXTO reach a 52 week high?
Question: What kind of buying pressure will it take to move the pps to new 52 week highs? Where is that buying pressure going to come from if not from your typical pinksheet traders?
The financial report for the first quarter of 2012 showed no revenues and expenses of $413 for a net loss of $413. The ending cash balance was $492. With the second quarter coming to a close, they should be able to report during the CC whether or not they have had any revenues this quarter. I would be surprise to hear that they have.
If the first well is producing, perhaps they will tell us how many barrels per day. We also want them to give us an idea as to when the second and third wells will be reworked and whether they expect production at all three wells to be about the same.
A valid question, Dave, one worth putting in a call to Briggs Smith to find out what the format of the CC will be. At the same time, you could ask him about the expected duration of the discussion. Maybe we can submit questions in advance by email if the call will only be one way.
No doubt, we're going to see some exciting fireworks over the next eight to ten weeks -- the conference call, multiple PR's with new deals announced, symbol changed, dividend clarified, revenues announced, and so on.
Hold tight, buy low, sell high -- you know the drill.
Just wanted to let you know I spoke to Briggs Smith this afternoon and this is what he said:
As far as he has been informed, the Conference Call is still on for Thursday, June 28th.
He has not been shown the text of any PR the company wants to release next week. That doesn't mean they won't send him something to look over in the coming days. In answer to one of my questions, he said that if they decided to postpone the CC, they would certainly have to issue a PR before the CC was supposed to take place.
He said the company would also have to release a PR before the CC if there are new projects they want to discuss during the call. However, if the call will only cover updates of news items already made public previously, they do not have to release a PR.
They can talk about the FINRA and the symbol change, the details of the agreement with Rio, production at the first well, mining progress, a dividend distribution and so on without issuing a PR next week.
So there is still a lot of information that can be covered in a CC. I asked him if primarily the updates would be positive and he said they would not have scheduled a CC to relay bad news to shareholders. So my impression was that he was serious yet optimistic.
The problem here is there's no sizzle. No sizzle, no fashizzle. They gotta heat this thing up with more frequent news and PR's, communication with the public and shareholders via their website and social media to whatever extent they are capable of. They need to focus more on getting the word out to attract attention to their company.
Until now, they have put little effort into promotion and that is why the pps is where it is. Their legal advisers are partly to blame, since they insisted on a blackout until FINRA came through with the new symbol. The buck stops with Jim Porter, though, not with any lawyer, and we have to impress upon him his responsibility to better protect our investment during this conference call.
Most urgent is that they announce revenues in their oil and gas division. That will be a healthy harbinger of things to come. But if instead the news is that they are falling behind in their production timeline, the market will punish them (and us) for having previously announced false projections.
If there is no meaty news by the end of next week, I hate to say it but this goose is cooked.
Bayport/EXTO stated that they would begin working the first of three wells by the end of June, 2012. That means revenues. Jim, show us the money!
Bayport should have signed a contract with Rio Riata by now, and they said we would hear the details of their agreement in the near future. Rio has been in negotiations with Occidental Petroleum for a while, so there may be some new developments in that regard.
Briggs said there is news concerning the symbol change. That should give us a boost.
And then there may also be some Maine resort and condo news, Tennessee seafood plant news and Utah mining news.
By the end of next week we will all know where this is heading.
Things are happening behind the scenes on this one. They're just not telling anyone what they have accomplished until the CC in eight days. Briggs told me they have to wire news in the form of a PR before the CC. He said it could even be released the same day, just hours before the call begins.
There you go. Good DD.
Maybe this is the same lawyer who advised the Porters not to release any news until the FINRA symbol change went through. He could have withdrawn his services and his letter to show them who's in charge. On the other hand, it is possible the legal team wanted to update something in the letter and removed it while they work on revisions. Either way, EXTO is still current on OTC Markets which is what really counts.
Briggs Smith just confirmed that there will be a PR sometime before the conference call of Thursday, June 28th. That is because the directors would not be able to discuss new developments in a CC that had not previously been publicly announced. He added though that such a PR could come out any day right up until the day of the CC. One thing he did state is that news concerning the symbol change would be included in that PR.
Some who bailed may be buying back in soon enough especially if this positive action continues right up to the CC.
Looking good here today. I am looking forward to the update on Rio's negotiations with OXY and further explanation of how EXTO will benefit.
The question is whether they will issue another PR or two before the CC, for if they do not, all they will hear is alot of negative feedback from shareholders when the conference call finally takes place. I believe Bayport would have to PR real news in advance of the CC (please correct me if I am wrong) rather than announce news during the CC. That PR should change the whole tenor of the conversation with management.
Carolina is right, that Oil and Gas is hot, and that will be the next big news, that Bayport has a contract with Rio Riata and that they have begun work on the first well to be reworked. This would fit the timeline announced in the April 11 PR and I expect a PR to make this announcement just before the CC.
Your friend is right.
I expect Bayport to announce in the near future a signed deal with Rio Riata in pursuance of the LOI that headlined the April 11th PR. There should also be some news forthcoming eventually about the Maine resort and condominiums, as well as the Tenn. seafood plant. But the big news will be the work that is being done on the first of the three oil wells to be reworked. That should attract alot of attention on this board when revenues from production are finally reported.
This has turned into one ugly looking daily chart, and it looks like we are gong to linger in the 003's for a while, but I agree that within the next few weeks, we should begin to see a dramatic turnaround.
What makes you think so?
Yes, I think this will run again and my faith in the management has been somewhat restored, so I went ahead and bought a few at .004 to average down a little bit.
Right, and if I had the dry powder, I would be buying today at .004.
Last August there was talk of a $50M IPO and gold production that was to begin before the end of October, 2011. Some frantic buying followed, and some long term shareholders of EXTO may still be optimistic to this day, but they most likely have bought all the shares they want to own at this point.
The first question is how to keep these longs from selling large blocks of shares due to their disappointment with the lethargic pps? The second question is how to attract new investors to get involved and increase buying pressure? I don't know whether the Company is thinking along these lines, but we will soon know by whether the frequency of PR's increases from one a month to two or three a month.
I would say that April 11 was the beginning of a new era for EXTO and its dealings with shareholders. First, we were given factual news about the oil and gas division. The next PR was an update on the mining division. We were candidly told that the Company's operations are more or less starting from scratch, and management is being transparent by letting us know exactly where they stand.
I believe it will probably take a couple of months to get the pps back to where it was last September, depending on whether the company's operations become fruitful and revenue producing. Giving us more details on that proposed dividend would also help SH morale and give the pps a little boost.
All the best,
Lochan
Ticker tock, ticker tock... shouldn't be long now, but no guarantees. It's really out of Bayport's hands at this point.
Funny how news here hardly affects the share price. I'm glad to see solid progress being made by the mining division. It will take time, but at least we can be sure that positive steps are being taken by the Company to execute its plan.
From what I was told by Briggs, we should be hearing from the Company in the next day or two, but don't hold your breath unless you want to so in protest.
Bayport should soon have its contract with Rio Riata, and their first reworked well should be producing by the end of June. Rio Riata is currently negotiating with Occidental Petroleum (OXY) to expand its area of developmental drilling. This should prove to be a nice source of continuous and increasing revenues for Bayport and Rio. Give it a chance to evolve and you may be pleasantly surprised.