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I believe it. It's "new" People who were once scared to try it because it was illegal, can now safely purchase it. I mean look at cigarettes, in MA a pack of Marlboro reds is just under $9... A lot of tax money...
If it does, I suspect there will be more states following. I was always in favor of it, tax it just like tobacco. Knock down the debt, also if decriminalized will help with US / Mexico. As the drug cartels will lose the "demand"
It will be great once we get some news!
Or Dan and Otto can clean up Scott's mess and start fresh? Nothing has really changed with the share structure over the years, and we has interest before.
I don't see the company as a failure, did we have missed opportunities, absolutely. Was Scott inept at his job, you bet ya. If we failed we would have been out of business, which clearly we are not. We just added a new member to the board, and got rid of another. Signs of life. IMO
I believe that is still the plan, however will not be done until things are cleaned up. No sense in bringing the bad over as well.
I would assume that the company is going to clean up all the toxicity from Scott and gang, prior to putting anything into the new entity. You don;t want anything negative carrying over.
Welcome, and yes we are lucky to have them on board. I can't wait to see what they can achieve.
Agreed!
I'm hoping we hear something positive in the upcoming weeks.
There is also ir@niostar.com, it's a small mailbox fills up quickly, but will go to Dan.
#GEAR
Anyone have any news?
Lot of potential with this one.
Let's go GEAR!
Deals can be made year round.
All true, he can't make that stuff up!
Agreed!
You seem to know a lot about the company's business. You must be an insider or someone who is is leaking you information. That doesn't sound appropriate.
Ok? We all knew about that one, where's the rest Drew?
If you call or email Dan he will provide as much disclosure as he can on the company or his personal situation.
Why not just ask him?
People could be averaging down, a little goes a long way at these prices, not necessarily a "pump"
Can't be anymore clear than that. The sell fee is more than the sell itself...
And you know better? Based on the historical drilling results there is value in the property. But I'm sure that small mom and pop operation known as GULF is wrong...
Sounds like excellent news.
The company could just cancel / not pay the debts, and Scott / Currah would have to go to court and prove the debt was legitimate. He would have to prove the debt was incurred legally and have the supporting documents like board approval, signed contracts. He would have to prove that arms lengths transaction were used to prevent insider dealings etc.
He doesn't control near 50% of the company. He has under 32m shares himself.
Scott can be voted out by the shareholders. The company can issue a proxy vote to all shareholders, if it passes he's out. Again as far as the debt, the burden of proof is on him. He has to come up with legitimate paperwork, and proof that something positive did happen, and was in the best interest of shareholders. Also that it was approved by the bod at the time.
As per the information circular for annual and special meeting dated September 12, 2011 Scott Keevil has 31,706,136 shares. A far leap from controlling interest.
The company having audited financials in no way tells you the debt on the books is legitimate.
http://www.sequenceinc.com/fraudfiles/2013/06/escaping-detection-why-auditors-do-not-find-fraud/
That could be true, if the debts owed to him are found to be legitimate, which I doubt they are, given his past...
Who says he's getting paid? Who says any of them are taking a salary?
As I mentioned before, you don't just clean house once you have control, you need to get a handle on things first, otherwise you're going in blind, which would cost time and money.
Well we know Scott to be less than honest, so his numbers may be off. Now most of those shares no longer back Scott but back Dan and Otto
You talk like you're a long time shareholder. Didn't you state in the past you just flip?
I've copied and pasted direct emails from Dan in the past, stating that all parties have EQUAL power... What don't you get?
No you don't have to be nice, but what has Dan actually done to you to deserve that type of behavior?
Again, would you like them to PR every time something small happens, things are being cleaned up, when something significant happens they will spend the money to PR it.
First that was a pretty rude email, basically telling him what to do and demanding, instead of asking nicely for an update.
Second, that proves my point that no one has majority power.
Third, he stated that he he trying to resolve past issues to forward progress the company (seems like progress, without insider information)
This is a direct message that I received from Dan via email.
"I am happy to speak to any shareholder. Have them email me with a number and I will call them.
More will be disclosed as soon as we can. However without providing insider information I can explain the situation.
Dan"
Who's pumping? I'm not saying big news on the way buy now. I'm making an argument on a post... read a book.
Why would you need to call Otto? Dan, Otto are on the same page, whatever information Dan tells you, will be the same as Otto... Also they don't give specifics on work. Why do we keep telling people to call? Because the post wrong information OVER & OVER Like Scott is in charge, Scott has all the power, blah blah... Thus far I none of these people called or emailed to confirm, I've even ask them to post the reply from Dan, but they feel it's a waste of time to email him...
For all we know, now that Otto is on board, all those things could be in the works. It's not an over night process cleaning up the company...
What would you like them to do pay money to put PR's out to answer peoples questions, so they aren't "rumors" You want them to spend $500 to say the BOD has equal power? Ya great way to run a company, flushing money down the toilet, because people are to inept to understand, or ask a question.