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Look at the 23,566 trade at .11. It's a buy. Somebody knows/likes NTRO.
How is Sandridge connected to Nitro? Does Sandridge have a working interest with NTRO?
Do you have a link to these reports?
I Can Answer That. It's The Tenguy Board TGWI. Lot's of news feeds there.
Where Are You Getting Your Info About The Garvin County Project And Tenguy?
Is it a local oil newsletter?
My guess as to the reason the stock has not been issued relates directly to the equity financing issue. NTRO has got to see all the working interest partners, in the Branch #1 project, and to what their capital requirements would then need to be. It's a big project, so they need to get it right.
Don't know what's happening.
There's an operating loss and a net loss, yet the company is reported to be drilling the Branch #1 project. where's the money coming from?
Maybe they can't issue the shares. They certainly can use the capital from the issuance of new company stock, yet they don't.
Agreed there are some troubling spots.
Revenues are down year over year for the same quarter.
q3 2012 q3 2011
$56,568. $103,540.
Net loss is still prevelant,
q3 2012 q3 2011
($117,978.) ($115,621.)
Per share loss increased to ($.06) from ($.05).
All this on a company reported to a have much increased oil production from the Quinlan wells.
You can discount bankruptcy. They have plenty of cash flow from just the Quinlan wells. Nobody starts drilling (the branch #1 project) if they are going broke. They have a lot of share dilution they can do to stave off bankruptcy.
Status Of NTRO New Stock Issuance.
Here is a recent email I sent to Scottrade Support:
From: The_Pro <the_pro@gmail.com> Sent: 12/11/2012 2:18:13 PM
Subject: RE: Scottrade Brokerage/ContactUsOther
--------------------------------------------------------------------------------
--- Support Message ---
Reply Date: 12/11/2012 6:41:30 PM
Subject: RE: Scottrade Brokerage/ContactUsOther
Dear The_Pro:
The Depository Trust Company (DTC) is waiting for the new shares to be issued by the transfer agent. They do not have an anticipated date of delivery at this time.
As soon as we receive the new shares from DTC they will be credited to your account. Your patience is greatly appreciated.
Thank you for choosing Scottrade. Please let us know if we may be of further assistance.
Sincerely,
Tiffany B.
National Service Center | Scottrade, Inc.
Phone: 1.800.619.SAVE (7283)
www.scottrade.com
--- Original Message ---
From: The_Pro <the_pro@gmail.com>
Received: 12/10/12 3:12:07 PM CST
To: Scottrade Customer Support <support@scottrade.com>
Subject: Scottrade Brokerage/ContactUsOther
NTRO stock had a R/S on Nov. 1, 2012 of 100:1. New stock was to be issued. It's been 40 days without the issuance of the new stock. Any idea on the hold up?
Thanks,
The_Pro
There is also an email in to Pacific Transfer, the transfer agent of record, regarding the same issue.
The Woodford Reserve Is Deep But Very Thick, 400' or so. It is therefore more expensive to drill.
Here' The Link To Marketwire:
http://www.marketwire.com/AdvancedSearch/AdvancedSearchResults.aspx?sid=75c7cd47-197e-485e-95b7-59be5d1820f6&idx=1
What news they have is the most current, official news including the Branch #1 project.
NTRO Is Not Pinksheet Anymore. It Is OTCQB.
Symbol Changed Back To NTRO.
Today I was able to and have placed an open order for NTROD. Previously I couldn't place an order.
No. There has been no real trades taking place. There was a 100 or 200 share trade a few days into the new issuance declaration but that surely was a MM.
Nobody has any NTROD shares that I can see.
Concerning Tier Change Uplistings.
Almost all tier change uplistings have brought about a marked increase in pps. Usually a 10x increase. This follows a marked dip in the pps.
This happened to one such stock USOG in Oct 2010. The asst. mod on that board did some excellent discussions on R/S's and uplistings and how they influenced the pps.
That asst mod was ack0605. See his postings, say from, Sept -Oct 2010.
Here's A Link To A Site That Has Newsletters Covering NTROD:
https://research.zecco.com/research/quotes/price-quote.asp?mcsymbol=NTROD
This may keep investor's interest while we wait for NTROD to come online.
Here's A Post I Did On R/S' And Dilution:
After the split, if there is no price movement you have neither lost or gained anything. You'll still have the same amount of money before and after the split.
Your percentage of company ownership has not changed. Your share % of float and O/S has not changed.
The change is the effective increase in the authorized share capability. If no authorized shares are converted, everything stays the same.
The higher pps will attract investors that are not interested in a sub penny stock. It will also allow Exobox the ability to do equity financing.
If equity financing occurs (dilution of O/S), then if the price sold exceeds your current price you have NOT suffered price dilution ONLY percentage dilution.
Companies could simply raise the Authorized Shares (through majority shareholder vote) and dilute in that fashion with no forward/reverse or disproportion splits.
Personally Cukjati is proceeding in a remarkable fashion; everything he is doing has the right ingredients for success. All appearances HE's on the ball. I believe the deal was a big one. The $ has to come from somewhere. If it's for progression of the company then dilution is excellent.
The_Pro
This can be seen on the EXBX board post #38,306.
I had fleeting thoughts they were scamming also. They are legit now
Whew!
As far as the dilution, if it's to develope the Branch 1 oil fields, it is good. Business expansion is good dilution.
If the price of the dilution is at or above our current price, Nitro Investers have suffered no price dilution, only share dilution.
Nice. 2nd quarter 10q, 2012(QE 07/31/2012) and 10K YE 01/31/2012 are now official issued with the SEC.
Here's the URL:
http://www.sec.gov/cgi-bin/browse-edgar?company=nitro+petroleum&match=&CIK=&filenum=&State=&Country=&SIC=&owner=include&Find=Find+Companies&action=getcompany
They both were filed 11/05/2012.
NTROD IS NOW OTCQB STOCK. STOP SIGN AND YIELD SIGNS ARE GONE.
Here's the link:
http://www.otcmarkets.com/stock/ntrod/quote
I'm Writing IT Off And The One Who Promoted It Also.
My thoughts are dilution is on the way.
But First Will Come The Promotions.
Good time to sell at that point.
Dear The_Pro,
Nitro Petroleum Inc (NTRO) is in the process of executing a 1 for 100 reverse split of their outstanding shares. This was a mandatory corporate action that affects all shareholders. Shareholders will receive 1 new share in exchange for every 100 old shares held.
Please note that Scottrade's $20 mandatory reorganization fee applied to this action.
We have not receive the new shares from the transfer agent at this time. Please note that your account will be credited with the new shares once we have received them from the agent. Your patience is greatly appreciated!
Thank you for choosing Scottrade. Please let us know if we may be of further assistance.
Sincerely, Tiffany B.
National Service Center | Scottrade, Inc.Phone: 1.800.619.SAVE (7283)
Might Depend On How Many Shares.
If you have noticed, no trades have taken place. This is due to the transfer agent needing to get the new issued shares, NTROD, into the stockbrokers hands.
Also expect your broker to charge you a fee for this transaction.
Scottrade charged me $20.00.
NTRO Ex- dividend Date tommorow. .01/share.
I doubt it means $.01/share dividend.
If so, NTRO SKYROCKETS.
Funds are needed to pay for the rebuilding of the fire damaged Quinlan project and MOST important the BIG PAYDIRT the Branch #1 project.
No wells are drilled yet on this site.
There Seems To Be Some Marketing Campaign Already.
I see 2 newsletters mentioning NTRO:
Insidebulls.com
Firstpennypicks.com
Both were news feeds into my Scottrade account under NTRO.
My belief is that a marketing campaign will happen to get the stock's price elevated. Dilution will occur to raise funds for the Branch #1 project. I doubt, and would bet highly, that any institutional investor would ever touch NTRO in their pinksheet status and being undrr $5.00/share. It won't happen.
A/S is 2 Billion. O/S Is 207 Million.
Nothing fishy here.
Really Don't Know.
Willing to bet NTRO is seeking funding for the Branch #1 oil field project.
Assessing the R/S.
Advantages:
1) More impressive stock price to potential investors. Nobody wants a $.004 priced stock. $.40 has a better image.
2) More attractive float and outstanding shares. A low floater is very attractive to investors.
3) Better positioning to get listed on a higher tiered exchange. NASDAQ requires a $1.00 minimum stock price.
Diadvantages:
1) Investors don't like R/S's. Share dilution can be on the way. Ok, if for business promotions, I. E. drilling new wells, say on the Branch #1 field. Money has to come from someplace. You can have share dilution without price dilution. If shares are sold at $.005, we investors haven't felt a thing.
I'm going thru all his posts now.
For starters check out post #5768
Or He Was Hired and Fired By NTRO.
He has a vendetta agianst NTRO/Jim Borem for sure.
This is, of course, conjecture.
He does seem to have inside info and some things make sense.
Nice News. NTRO Now Has The Stop Sign Removed.
NTRO mow has a Yield sign, tier changed to OTC Pink Limited Information.
Hey, thanks. Things just have to run their course. That takes time.
NTRO mgmt surely understands everything we are talking about on this board inc. the world famous stop sign.
He has the same M.O. (modus operandi) as the banned Ghost Aristotle. He should be banned also.
However if he has any knowledge of NTRO, with foundation (i.e. proof), I would then deal with what he has to say.
WK has laid off this company big time, could be his newborn is zapping his time. Could be he knows it just will take time.
If Mykey2 is right about Larry Wise should be in charge and then the stock would go back to $.19 that would be really welcomed.
The Last Thing NTRO Needs Is The Financial Burden Of Employees.
All the work that needs to be done can be done by independent contractors.
They lack wherewithals. They have no cash flow which is vital to a corp.
Non legit press releases would constitute wirefraud. It still locks NTRO in as if they filed a 10q with the SEC on a fraud basis.