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Couldn't agree with you more...
But there might be more reasons for dilution. What would you do if you were facing bankruptcy... dilute...
But it still surprises me why wouldn't they use pref shares for financing they have loads of those now. At least it would postpone dilution for a year which would give them enough time to turn profitable and buy them back then...
Well if it was true then there would be no need for dilution...
These are the domains under 247mgi name:
BARONCAPITALBANK.COM
BARONCAPITALENTERPRISE.NET
BARONCAPITALSECURITIES.NET
BARONCAPITALSECURITIESLLC.NET
BARONCSLLC.NET
BARONCEI.NET
BARONCAPITALDEPOSITORYTRUSTCLEARINGCORPORATION.COM
BARONCAPITALTRANSFERANDREGISTRAR.COM looks live
BARONTRANSFERANDREGISTRAR.NET
BARONTRANSFERANDREGISTRAR.COM
BARONCAPITALSECURITIES.COM looks live
BARONCAPITALSECURITIESLLC.COM
BARONCSLLC.COM
Looks like close to 35 in total:
http://www.domaintools.com/research/reverse-whois/?all[]=247mgi&none[]=
The last two links might be just a coincidence:
http://www.senomyx.com/company/bod_herman.htm
Anyway you can draw your own conclusions...
Three companies found already.
All share the same address:
1500 W CYPRESS CREEK RD., STE 414
FORT LAUDERDALE FL 33309
BARON CAPITAL ENTERPRISE INC (Main one)
http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=S68597&inq_came_from=NAMFWD&cor_web_names_seq_number=0003&names_name_ind=N&names_cor_number=&names_name_seq=&names_name_ind=&names_comp_name=247MGI&names_filing_type=
BARON CAPITAL HOLDINGS, LLC
http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=L11000107966&inq_came_from=NAMFWD&cor_web_names_seq_number=0000&names_name_ind=N&names_cor_number=G56366&names_name_seq=0000&names_name_ind=N&names_comp_name=BARONBETTERBUILTTRANSMISSIONS&names_filing_type=
BARON CAPITAL TRANSFER & REGISTRAR LLC (owner HERMAN, MICHAEL E)
http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=L11000072185&inq_came_from=NAMFWD&cor_web_names_seq_number=0000&names_name_ind=N&names_cor_number=P99000001492&names_name_seq=0000&names_name_ind=N&names_comp_name=BARONCAPITALLXXXVIII&names_filing_type=
Sec fillings:
http://www.sec.gov/cgi-bin/browse-edgar?company=Baron+Capital+Transfer&match=&CIK=&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany
Another peace of info linking New York entity (BARON CAPITAL FUNDS TRUST) to Mr. Herman:
http://www.secinfo.com/d1a6sv.u39.htm
http://www.sec.gov/cgi-bin/browse-edgar?company=Baron+Capital+Funds+Trust&match=&CIK=&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany
I'd say they did it to hide the real o/s...
Cheers. She must have made a mistake adding them up :)
I did :)
No that was copy paste :)
But she only gave me those 2 classes of stock.
Odd...
What it says. They raised pref shares from 20mln to 3bln
Mazie: Common shares = 3,000,000,000 at .01
Mazie: Preferred 3,000,001,000 at .01
New project offer by HCE.
http://homecreekenergy.com/about/production-project-now-ready/
There is a "precision 724" name on one of the pictures of the frame of PGIs FB page.
3 MMs to 17s :)
FundTech was sold by Matt. This is not a likely candidate :)
Great stuff. I was actually wondering about BGI too :) Might be a good idea to give them a call...
Good to hear. Fingers crossed :)
The big question is IF they will pay with shares for that 15mln asset. I really hope they will use money from oil rigs instead...
Well then you didn't understand me in a first place. I simply implied that since in their news Standard oil mentioned far more leases that HC/PGI JV has atm there is a chance that those leases might be included in JV in the future.
Mu understanding of your response was: if standard oil which was big name years ago couldn’t do it then certainly PGI won't.
Hence my last response meaning that Standard oil might have been big years ago but they certainly weren't in 2010 when they were trying to do business with HC.
There goes your BIG Standard oil:
Hello Anthony
Again thanks for prompt response.
Sorry to bother you during weekend but I have another question related to Standard oil.
On their website they mention "14 leases covering approximately 2,500 acres and 30 currently producing wells" yet your current JV with PGI only includes five.
Is it safe to assume that there might be a possible extension of JV to include additional leases in the future or is the info on Standard oil website inaccurate?
Lastly would you be able to further explain actual interest in current leases?
In Reames lease you own 30% WI. Does that mean that JV only covers 30% of all day to day expenses? What about 75% NRI is that calculated based on 30% WI? Why is it 75% and not 100%? Where those remaining 25% NRI goes to? Is it being used to cover day to day JV expenses? If so does that mean that 75% NRI is a pure profit for JV?
Thanks for your time.
P.S. In your last response you mentioned you require PGIE's consent. Why would you need one if you don't mind me asking?
Best Regards
Anthony Maye to me
No problem clarifying things.
First, just take SOCU out of the equation. They signed to take a small percentage of a deal that included the Reames wells and some others over a year ago. But after signing the agreement we never heard from them again. Then they continued putting out false PR's. One in which they are buying Home Creek Energy. This is a total false statement. We removed them from our site and have learned that their CEO has several warrants regarding tax fraud. Also their "shell" advisors from Arizona told us they were totally a fraudulent entity.
We know they still have our information on their website, but we are too busy to worry about making them take it off.
Next, all the leases on the Hendricks ranch 30 mile stretch are all at 75% NRI. Of the 25% about 18% is royalties to mineral owners, and the rest is to geologists who developed these leases many years ago. Those have been in place for over 20 years.
Basically everything left or the remaining 75% is all working interest.
This JV has 30% of the Reames and will have 100% of the masterson/Cobb wells.
This is what is such great news for PGIE because those three wells are first going to receive the same treatments as the Reames, and then we can create drastic production improvement by reperferating some upper zones that will have PRAC production like a new well.
Your final question, we have partners such as PGIE and others. They are the ones investing with us, and we ensure they are updated with information first.
We are heading to the lease at 5AM tomorrow morning picking up some tubing and rod subs, and should be installing packer and starting the acidation.
Also all of our updates are a bit limited since we do it all via an IPAD from the field.
Anthony Maye
Wow did Christmas came early this year?
Thanks for your vote of confidence kingpindg :)
It's been like that for the past two months :) But only after hours. Looks like glitch in the system because it also shows bid and ask quantities and OX don't provide bid and ask quantities for pinks :)
I don't know if you've noticed but Standard Oil never finalized their LOI but PGI did form a JV with Homecreek. If you consider it a joke then it's me who is actually laughing :)
With the money they are making atm they might expand JV with additional leases. This is called company growth...
I'm really surprised there are people finding so many ways to bash the only money making deal PGI has now :)
Very sad...
From http://standardoilcompanyusa.com/Texas%20Development.html
There are 14 leases in total covering approximately 2,500 acres and 30 currently producing wells.
Working Interest :p Meaning they cover all expenses associated with it and get 75% NRI...
That's what I was hinting at. They might expand JV to include additional leases :)
I believe they will get full 75% NRI from those wells.
New update about Reames 4 and 5
http://homecreekenergy.com/about/reames-1-well-completion/
110K/year so far for PGI :)
Maybe because they want to prepare some decent news including numbers and maybe something else?
Give you a hint. If you read through this: http://standardoilcompanyusa.com/Texas%20Development.html
http://www.investmentsinenergy.com/standard-oil-inc-to-buy-home-creek-energy/
As for your last sentence well that exactly what LOI is, but I don't consider it a negative thing. It's just that PGI used it in wrong way...
NP I have to admit I like this guy more and more. Extremely responsive. Wish PGI was like that.
Hello again.
Thanks for your earlier email. Much appreciated.
Would you be able to shed some light on the below piece of news? Has this any impact on current JV?
http://standardoilcompanyusa.com/Texas%20Development.html
Also any production estimates for the 3 wells you reworked already?
Best regards
Anthony Maye to me
It has been quite a while since we have had a discussion with Standard Oil, maybe a year ago. They signed a LOI and agreed to a deal with us. But were unable to finalize any of it. There was no deal finalized with them even though it is still on their website.
We have not been in contact with them in the past year I believe.
We have some very strong production numbers better than anticipated, we will release them through PGIE’s as soon as they give consent.
THANKS
Anthony Maye
Interesting 13s gone...
What are you talking about! Q3 is not done yet geez...
Well I wish for many things that didn't happen... yet :P
Such is life.
Because it gives shareholders something to think about. Those news didn't move the stock because until more substantial update is given it's just it - news.
What do you think? They need 700mln for that. Since they don't have it, it's probably sitting somewhere waiting for better times...
Baile atha cliath here too :P
Mate see my post and stop complaining...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=67110193