Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Drax: Your link to me took me no where. Try sending again. I think everyone should also send to SEC That these so called officers of the company are taking huge payroll, when there are no revenues, which would create a liability on company books, so that when/if they go into bankruptcy and assets are sold off, they can collect under unpaid wages laws (or in other words a back door in to continue raping the stock holders). SEC should be made aware of this tactic and maybe they will put a stop to it or have it ruled as stock holders monies and not unpaid payroll.
I just spoke to Bruce (Tel: # 604-836-2292). I asked him a number of questions, he refused to answer any of them. He said they are restructing the company, to look for a news release in 2-3 months (Maybe longer). He wouldn't answer what restucting would mean to stock holders (More then likely a reverse split). When I pushed him for more detailed answers he hug up on me.
If shell does take over PPTl, what will we get ten cent for every 10,000 shares?
UPDV Message board, questions how MGT is getting a high salary with no revenues. I see this as an attempt by MGT to bring companies into bankruptcy in near future. Once this is done, they can sell off all of the assets. Once the assets are sold off, the cash must first go to lawyers (By law) and then to unpaid salaries (By law). This is a back door way (Which is legal) to steel all cash from stock holders after company is taken into bankruptcy. SEC Invetigators should be made aware of this trick. Does anyone have the name of the SEC investigator and how to contact them?
Koko: It's been 4 days since I asked NYBob if he knows who the SEC investigators are. He didn't respond. SEC investigators should be made aware of the high Salary MGT is getting, without any revenues. This is an attemp to obtain all the cash assets left when/if they take company into bankruptcy. Do you have SEC investigators Email address. Did you find any info on their salary?
No, I'm sorry I didn't think about asking their address. I did do more research on Cataba Oil. It is owned by the Buckley Family, however the person running it was/or still is, is a person called Cameron Smith, from what I understand he is related to the Buckly Family (All in the Family) but has nothing to do with our Cameron were looking for.
OH Well' at least I tried!
NY Bob do you have any of the info on who the SEC investigators are and how to contact them. I really do think they should be made aware of the High Salary Executives are getting when there are no revenues. I see this as an attempt to bring company into bankruptcy, sell the assests off and still receive monies from it!! In my mind I see this as another attempt to steal from the stock holders (you might say a back door way).
In the accounting world, that mean when they take company into bankruptcy, they will be able to collect on payroll he had declared and not received, once the assests are up for sale. When a company goes bankrupt and assets are sold off, right after lawyers getting paid, unpaid payroll gets paid. These are the bankrupcy laws. What was designed for employees, they are making sure they take full advantage of. After all they are employees of the company also.
Who ever knows who the SEC investigator are, please email koko23 posting and my response. SEC should be made aware of these executive salaries and the games they are playing, when there are no revenues, it's clearly an attempt to defraud the stock holders after they take company into bankruptcy (but then what do I know? I'm just as an accountant who took business law in college can see what may happen).
I just tried call this phone number. The person who answered said his name is Cameron King and not related to any of the oil companies I asked about
Independence Energy Corp. ENDVRNRGY
IDNG, XTPT and PPTL.
The od thing about Cameron King, I seem to remember that I had heard this name before. I'm not sure but there is a Cameron ??? related to the BUCKLEY FAMILY (Former NYS Senator - James Buckley etc). I believe the oil company they run is called Cataba (last I heard it was out of the Empire State building in NYC). Also I know that sometime back in mid 1980's they were doing heavy research in Canadian Land that they owned. The Grandfather, during the depression era went around in Canada buying up all of the mineral rights from Famers and in the late 1980's and early 1990's was trying to acquire the land from them claiming mineral rights. I have no idea what happened after this, but I wonder if this Cameraon is the same Cameron of the Buckley Family?
I would be careful about your purchase in that oil company (Where Barclay Bank and Bank of America purchased shares in). These banks are acting as investment houses, they most likely signed a contract and they will try to sell these stock to their clients. Once they can't sell everything, look for them to dump the stock on the market (This happened to me with UBS several times before I got wise).
I found where you got the idea that Shell Oil will buy up UPDA. I don't think so. The contract signed 07/09/09 with Shell Oil was for "Oil purchased by UPDA and Transported by UPDA to a Shell facility in TEXAS ONLY. No where did I see SHELL as even interested in UPDA.
You still didn't ans my question, Where did you get the idea that SHELL is looking to buy up UPDV? Espicially since HTOG owns the leases in Kansas. You also forget UPDV is under investigation for misconduct with FIVE STAR and lets not forget the oil theft that CNFU did with Mexico by the SEC. I would like to see Kamal and all of his people in jail and all of these intercompany deals ruled null and void. Each company sent their own seperate way!
I also would like to see HTOG Independent again and all contracts between HTOG with Five Star, UPDV and CNFU ruled null and void.
I heard on the radio yesterday that the price of GAS will pick up to over $3.00 per GAL by June. Could this have something to do with the price of stock going up?
From your lips to Gods ears
What does MIR have to do with HTOG. Lets stay focus on HTOG.
When you say producing, what do you mean? Is Con producing the gas for HTOG or does con own the leases and sub leases to HTOG (Which doesn't make sense as HTOG had the leases before cnfu was involved)? Can you clarify this some more?
I already asked that person to explain where he got that info from,when no one else heard about it. He never responded, just someone trying to drum up prices so that he can sell at a higher rate.
I too would like to make a complaint. Exactly what did you complain about. This way I can follow up with my complaint. I hope every one else also makes some sort of complaint as well. The way I see it, is Kaml stopped operations in TX two years ago, he has a fiduciary duty to let stock holders know this and why. He also has a fiduciary duty to stock holders letting us know whats going on (Example that so call loan in 2009 that someone posted, what's it for?) We should also be after SEC to add HTOG on the investigation of KAMAL.
BELOW IS FROM POSTING 10210 ---- SEND YOUR COMPLAINTS --- PLEASE!
http://sec.gov/complaint.shtml
"If you do not want to communicate electronically, either print and fill out a form or write us a letter. Our address is: SEC Complaint Center, 100 F Street NE, Washington, D.C. 20549-0213. You can also send a fax to 703-813-6965." <Excerpt from above Link>
Since the SEC's Attorney, Mr. David Stoelting's email address is of public record in the complaint, you can address your feelings regarding this UPDV matter about your own individual experiences to him as follows:
StoeltingD@SEC.GOV
You can say in your email to him, you saw his email address in the PDF file regarding the complaint against the defendents as a contact for the UPDV matter.
The person I spoke with is strictly in the Investigations Department, and the complaint link would get your feelings regarding policy matters translated to the appropriate people more responsible in deciding SEC policy matters such as Pink Sheets, corporate filings, etc. The above link is also to ventilate your specific complaint(s) regarding your individual situation(s) with UPDV.
I trust the above will be of help to everyone? Any further public information regarding this case will de disclosed on the http://www.sec.gov site. The Investigations Department at SEC cannot discuss an ongoing investigation with anyone. You're welcome to speak with them, but it will be a one way communication to them.
Thank you!
Is this a new company? I can't find financials on them. Do you know where I can find them? I'm intersted inshoare outstand and share authorized. I'm also interested in their holding, What they have? and how much of it is avaiable?
I would like to see Financials on this company, does anyone know where I can find them?
TB: I have no idea of what a IBOX Editor is, detail to me exactly what you want me to help you with.
TB: If we had a name change, why wasn't it posted by PPTL. Seems like no one there is interested in the stock holders. More amunition against MGT.
Same mailing address for both companies doesn't mean they are related. Lawyers always use their address when they organize or do name changes of entities. In my line of business, I have ran into this many times in NY.
Where did u get the idea SHELL is interested in this company????
Hey Redbull. I don't know what u paid for your shares, but I was in HTOG so long ago, when it was at .03 per share. I got 300,000 shares. If you got yours after me, you paid alot less for alot more.
My idea is to get an attorney to represent the stock holders, just so we can get all of the info that both SEC and MGT has (Required by disclosure Laws). Then we can help SEC. Where as the SEC has 2-3 people working on the case. We can be an army helping the SEC. But first we need to know what info SEC has, what info MGT is fighting with and then help SEC.
I remember in the 1990s IRS we after Leona Hesley simply because she was a B. Once it was on the news, so many people came forward to testify against her, that they had to put her into jail (IRS dosen't put people in jail normally, they want them to work so that they can pay off the monies due to IRS).
I think here we can have a similar situation. We can be an ARMY for SEC.
Your right we do need a lawyer. However with the price of the stock and those willing to help pay a lawyer, what's a good chip in fee, a dollar per share?, $2?, $5? $10?. Lawyers are not cheep, throw in SEC Lawyers, defendent laywers, and defendent lawyers always postponing cases, this will take years and lots of money. Maybe we can get a lawyer to represent us, have all of the info disclosed, from both sides (MGT and SEC) and relate it to us. Again it will cost money!
However I do believe there is a law that allows shareholders take a law suite out against management on behalf of the company, have them removed and the company pays all the legal fees for both sides. Don't quote me on this, it's been over 30 years since I took a Business Law class in college.
Looks like same kind of disturbing news as my other oil/gas investment (Now being investigated by SEC). Maybe your stuff could be the things we need to get to SEC to hopefully get them to investigate PPTL and all the others you mentioned as well.
I'll do the same tomorrow.
Happy New Year to All.
BOB: Do you know how many shares are outstanding and of which how much is owned by insiders/restricted?
Last night and this morning, I spent several hours trying to find that so call yahoo news stated a few days ago. I found nothing!
Just someone trying to drum up the price to sell their shares again.
Sounds like what I had said some time ago, PPTL was paying invoices in stock, those people sold the stock to get money.
I just read the financial statement posted. Right off questions comes to mind.
1) G & A expenses for 2008 is less then $20,000? Possible! However why is there no info on "Cost of Good Sold"? This would actually state what it cost to pump the oil and gas and all of those other expenses not shown in G & A expenses.
2)Why no Fixed Assest. Is everything leased (I can see the drilling rigs leased but what about a desk, telephone, computer company car etc).
Does anyone else think not everything is shown here?
When I quit my job last month, I took time off and went traveling down east cost USA. I was out of the loop for a while. Now looking at what I missed, I agree with Greg, seems like alot of info is NG. The only one that looks like looking into is that Yahoo one. I'll try doing some DD on this Yahoo one this week and let you know what I find.
TB; Don't waste a trip out to Alberta just to look to see whats going on (That will cost a forturne from where your coming from). If your really looking to do this, then you must really be heavely invested in this company. If your not heavely invested, than it's not worth it or you got money to spare. Use your money to go to Disney World instead (That's what I did when I quit my job last month. I had a great time).
Played some Golf, got a Disney golf ball with "Grumpy" on it and wrote along side, PPTL!
Greg: Sorry for the delay on this message. I quit my job (Then saw my blood presure go down 25 points top number and 12 point bottom number). If I recall correctly, I believe AJ Belford was having its own problems (was on the news about 4-5 months ago) and for all I know may no longer exist (Don't quote me, I'm not sure).
I don't think we should give up, when I first came on board, I was upset in that I thought PPTL was issuing stock to pay bills and those vendors sold the stock (Driving price down) to get cash. I now think this was all a plan by MGT. Make stock worthless, eventually they or another company they controll will buy it up. We need more info from everyone, this is what was done at the other oil company I own (HTOG) and the SEC is investigating (See earlier postings). Those share holders are active with SEC, even thought they never met each other. We can do the same here. Send letters or email to SEC and demand an investigation. I did so three times for this company, but they are not getting enough complaints, everyone has to act.
Greg. We seem to have no info or Bruce doing something wrong except not ordering production of our wells (Which can be deemed as a management decision). However like a jig saw puzzle if everyone releases what info we have on PPTL and Bruce, maybe we might be able to put this puzzle together.
OK SEC informent. You say your a group of 5 shareholders doing DD and will submit your findings to SEC. There is another oil company under investigation by SEC for similar but not quite the same senario and when you read the web site of HTOG and UPDV you'll see as soon any individual comes up with something, it is posted and sent to SEC right away. There all share holders are cooperating with each other. We can do the same here. In an earlier message I posted contact individual at SEC, I sent a letter asking for investigation, I hope others have done so as well. The more info posted of our BOD and their operations the better it will be for us in long run.
So SEC informent
1) What you got so far, maybe we can add to it.
2) Your a group of five, as you claim, how do we join this group?