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Hear is what I know from my source who gets hell everytime I post, they think it is him and they give him hell when they see a negative post, can't help that, only report what I hear from him.
1. RRF Fund was to be used from funds generated from a sale source and that sale source did not come through, thast is why RRF was never used.
2. Money was put in to the Treasury from RRF at the begining, not used on wells, see May quarterly.
3. Had to clean up bank account from Clayton's paperwork, this is why Peter moved in to straighten out the mess, Peter did this with his own money and time.
4. Had to re-write the contract with the Trust on the PA wells because of all the delays from Clayton not following through, Peter did this,on his own money and time.
5. Brought in new package Parker technologies for new asset to make DKGR stronger,again Peter did this on his own money and time.
6. Had accountant bring the financials up to date, Peter did this with his own money and time.
7. Cleared up the Transfer Agent past due invoices that were never paid by Drake (re Clayton and James) Peters own money and time.
8. Peter finally became President, since he was doing all of this to save the company and the deals.
9. Peter is having all the financials brought up to date right now, again paying out of his pocket when the company has no money.
10. Doing 504's to raise money to go back into the field, which no one believes.
11. Understand update coming on the Parker oil deals, and the PA deals, again no one will believe.
So I am sure my guy will get hell again for my post, so be it, you wanted an update.
Logic tells me you cannot really believe this, if you did you would not be on this board, you would not be looking up the quote everyday, anyone with your belief has moved on to another deal
All I am trying to say here is, is it not better to call the office, ask the right questions, its one thing to ask the question, its another not to and then make statements about DKGR without any knowledge at all and accuse everyone. Lets all of get more informed on the details of the company's future and not harp on the past, then we can criticize, IMHO
You know exactly where the selling came from 504's were done and when a 504 is done it is discounted to the market price at least 50% and with the filings, I was told it takes thousands of dollars per month to run this company, accountant, lawyer, fees to OTC markets, professional fees, unless you have a sugar daddy behind the company, then the company had to do 504's, we saw 45,000,000 reported in the June quarterly, the next quarterly will tell the story how many more they had to do to raise money, other than this, the questions on stock positions was asked, it was said Peter has no holdings, Clayton has not had stock issued to him, so now that you hear this your response will be BS back to me, don't care, the questions were asked, the answers were given, it is up to each individual to make up their own mind, so if anyone can come here and prove an individual is selling other then the 504's let him show his proof, not just yelling out their selling.
See, accusations, only because the price is down, if you can show all of us a sell slip, from any of their accounts, then yes you will be correct, other then this, it is all speculation, and the if you are reffering to the 504's, then please state this, because just saying they are selling is a wide open statement, define who is selling?
Management is cleaning up the previous mess, answering phone calls that ask questions which have to do with things six years ago and nothing with the facts of today. From my understanding all questions which are asked to management relate only to the price of the stock, nothing more, most calls I understand do not ask the pertinent questions on the actual oil package, number of wells, how much oil would be forth coming, what about the weather conditions, how much cost per well, how much does it cost to acidize the first time, the second time, how long can each well produce before a wax build up, NO, these questions are not asked, the questions I hear asked only relate to if the stock price can go up, and you see this when the price is down, accusations, when the price is up,praise, it is easy to judge, it is harder to do the work.
I would say, if you are still coming on this Board everyday, getting the quote on DKGR and the messages here, then I suggest you do care, otherwise you would be on some other deal
SOON, updates, coming, I asked and was told, get ready
Happy, you talk to the management everyday, and you were for all the 504's, now you seem to be asking the same questions the bashers are asking DKGR, why, they must have told you what they were going to do with the Parker well in Texas, this well has many pay zones, when is it going into production?
Any good news should turn this around again
All I see here is the commenting on the past, I am commenting on the time Peter took over and into the future,to look forward, if Peter did all of the past then I am wrong, but he did not, Clayton did what he did, so lets see how Peter moves this company forward
I totally disagree, IMHO Peter is different, he wants the company to be a success, maybe we saw Clayton run this as his own personal trust account, not the same for Peter, only time will tell of course, my bet there will be a oil well flowing oil for this company
Really, I do not think that one Barrel of Oil would make anyone here positive, I had an oil person look at the Logs on the Parker technologies site, many pay zones in the well from the logs they have on the site, waiting on his reply, many of you should look at the logs and see there are pay zones in the well (s)
issued and outstanding 861 million shares from Balance sheet up to the end of June 2012
DRAKE GOLD RESOURCES, INC.
(Developmental Stage Company)
Statement of changes in Stockholder's Equity
For the Six Months Ended June 30, 2012
Preferre
Shares
Beginning Balnce
31-Dec-07 0
Net Loss -FYE 12/3 1/08
Net Gain - FYE 12/3 1/09
Net Loss -FYE 12/3 1/10
Net Loss -FYE 12/31/11
Shares sold -3/3 1/12
Shares sold - 6/30/12
Net Loss for the 6 Months
Ended 6/30/12
Deficit
Additional Accumulated
Common Stock Paid-in During the
Shares Amount Capital Developmental Stage
816,156,800 $ 81,615.68 $ (558,146.95) $ 219,221.99 $
(230,796.96)
310,623.31
(11,141.92)
(9,484.82)
27,000,000 2,700.00 5,300.00
18,000,000 1,880.00 16,920.00
(29,987.45)
861,156,800 $ 86,195.68 (552,846.95) $ 248,434.15 $
TOTAL
(257,309.28)
(230,796.96)
310,623.31
(11,141.92)
(9,484.82)
8,000.00
18,800.00
(29,987.45)
(201,297.12)
So let me understand, the stock has traded since September 11th and closed at .0002 on September 11th 2012 786,846,525 shares and went to a high of .0012 these fellows you talked about waited until yesterday to sell their shares into the market, don't believe it
You said the same thing about these quarterlies, we would never see them, but there they are right in front of the public information, so I am sure we will see the September and the year end also, and news coming on the oil situations
Has anyone thought about the idea they may have given a billion shares to do the JV and we will not see this until they have made the official announcement, maybe, just maybe, Parker took a huge block of shares to complete the deal, the September quarterly will tell us.
Where does it show where the company sold 70,000,000 shares, I saw 45 million to bring in $22,000 where do I go to see the rest of the shares you are talking about, which balance sheet
I apologize, I must be the most hard headed one here, This news release read to me sounds very good, informative, forward looking, and explains to me this company is right now better then it has been in six years of the pure speculation. This Company now has two oil plays, PA and now through Parker Texas crude. Mr. Matousek put up the written contract with the PA deal to show everyone in DKGR there was a deal, and there is still a deal. Now we have a new asset with Parker, and it seems no one here gets the picture. I am sure because of these two plays DKGR will get numerous public companies wanting to JV the drilling, IMHO
I am sure by next week we will have the information back up on the OTC Markets, up to date information, new quarterly's, and news coming on PA and Parker, everything needed for a rise in the price of the stock price, IMO
Big things should happen here, if you read all the news on the PA Oil Deal and understand the oil wells, 299 and all these wells have a problem with parafin Wax, any good president would have to look into how to solve the wax problem, the best way is to heat the oil and then the wax has no chance of forming which gives each well a longer production and more BOPD so how do you solve this problem / Parker Technologies, Inc which has the technology to make the PA deal a great oil property
I just got the word on this one, told should see ten cents soon, how many shares in the actual float
DKGR, time to reconsider Drake Gold
The disclaimer when read reads like the company of a 504 issuer getting the word out to make sure the 504 guy can get the stock off into the market.
Remember they lost their 504 financing person, SEC is pulling him in for not properly registering all his shares, maybe the 504 fellow liquidated the final holdings he has in this deal today, who knows, the company is bottom and everything looks up from here
Totally agree on the 504's and the people that push the 504 should be held responsible just as much as the principal behind the money financing this
When you hit bottom, it is all up from there, and bottom is where the stock price is
Did Drake Gold use this guy, if so who brought him to the deal?
Since this guy will most likely have the FBI on him also, they should also go after the people who brought this to the attention of the companies as conspirators
The U.S. Securities and Exchange Commission has filed civil charges against another New York man for illegally selling billions of shares in pink sheets companies a three-year period. The SEC claims that Edward Bronson, a lawyer who runs an investment company called Fairhills Capital, bought stock at a discount directly from about 100 companies, including some Canadian listings. He then immediately resold the stock on the market, allegedly making $10-million in illegal profits. (All figures are in U.S. dollars.)
I hope this guy hasn't done a 504 with Drake
The U.S. Securities and Exchange Commission has filed civil charges against another New York man for illegally selling billions of shares in pink sheets companies a three-year period. The SEC claims that Edward Bronson, a lawyer who runs an investment company called Fairhills Capital, bought stock at a discount directly from about 100 companies, including some Canadian listings. He then immediately resold the stock on the market, allegedly making $10-million in illegal profits. (All figures are in U.S. dollars.)
Is tthat 20 million on the bid at .0003 maybe that will flush out the rest of the 504 meat and potatoes coming out
I can't wait going on the bid at .0003
Want this to get over with to .0001 it is like pulling off the bandage, make it quick so it doesn't hurt so much, so lets get to .0001 right away so we can get the pain over with right now, we all know it is going there with the dilution we are going thru
Very hard to say there is a run when 175,000 at .0008 doesn't get taken out
It is true right the stock cannot trade lower then .0001 but they still discount paper on a 504 at .00005 and then the 504 guy can sell at .0001 and double his money
Whatever Peter sees in those diapers is what I see in the price of the stock
they got filled
DKGR, good volume, good price
DKGR, good volume great price
Does anyone remember how many shares of trading it took the first run at .0001 to .0003
As I have said here numerous times, the 504 financing's were done at 50% below the bid price, so the selling that is coming at the bidders is because the buyer has a tremendously low price and this is why they can sell here no other reason, wait for the next balance sheet you will see they raised money from the end of May till the end of August, 504's, the capitalization now needs to be revisited so the company can become official over 1 billion shares issued and outstanding, that news is just about ready for all to see. What will be said when they are asked what happened and asked "you guys said the financing was important and we believed the dilution would be good" No one will dilute a company if they have shares in it, so then why is it diluted, because the people diluting do not have a position only invoices.