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"I'm guessing loaning money to HVAE on very favorable terms.
fAt"
That would require having money to loan. I speculate there is no money in the bank right now although I sure would like to see OMOG's audited financial statements.
When did Adam Barnett promise the release of audited statements? Was it 2003 or 2004? Only five or six years behind schedule. Nothing to be concerned about, right?
"OT
"Oil related stocks tend to go up as the crude price climbs "
Close relative or very distant relative? I'm wondering if HVAE is relative to oil prices?"
Down 99% in the last few months. Hmmph. That doesn't bode well for OMOG seeing the alleged ties between the two companies. Even HVAE has some revenues, albeit a large net loss, and a business plan of sorts. Plus they're in the hot sector of alternative energy.
I cannot wait until next week's PR. Maybe we'll learn what new business OMOG wants to try.
"well - I guess we have some life here again. Last release seemed positive and no hype. Maybe we see some progress"
Positive? It seemed more defensive than anything. Why put out a PR like that? Only to quiet those topics that we are discussing here.
Maybe it wasn't as "fluffy" as the earlier PRs, but it had absolutely no meat to it either.
Let's hear about the revenues and earnings and where they are going to come from. Give us some meat to chew on, not backtracking about what a handful of shareholders are discussing on the IHub board.
None of the things mentioned in any of the recent PRs mean anything unless this company can produce revenue. How many years has Adam Barnett run this company with zero revenue?
OMOG could get a $1 TRILLION judgement but it still wouldn't matter. The only thing that matters is can OMOG collect the judgement? There are no assets to collect. The stripper wells are a liability, not an asset. They need to be plugged and that will cost millions of dollars.
Would that be an end to this story. Lanza screws Adam in one last ditch by sticking him with millions in liabilities after this long protracted legal battle.
Lanza will not pay up. He doesn't have any assets to seize either.
"as much as I would like to see it come down its going up
http://www.nymex.com/lsco_fut_cso.aspx
I think the demand will be better than expected this spring till summer."
Maybe. What impact does it have on a public shell company? OMOG never has produced a drop of oil and has no plans to produce any oil. According to Adam Barnett OMOG is in the planning stage to change its name and start doing business in some unknown industry.
OMOG aside, I agree that demand will increase and eventually the glut in the markets will subside. It always does. The question is when will that happen. I imagine it will probably happen when the economy gets back on track which is predicted anywhere from late 2009 to 2014, depending on whether we are in a recession or depression. Taxing the productive workers and giving tax refunds (handouts) to those who are illegal aliens and/or don't pay taxes will not get the economy running again.
"you used a technical analysis as a reason not to buy this stock, did you already forget? sounds like you used it to me.
I enlightened you when I first came here, commodity related stock, low market cap and accumulation. "
Gatorelf, you used technical analysis as a reason to buy. I merely pointed out that you didn't have a confirmation signal with your technical analysis. For technical analysis to have any validity you need confirmation. Now, according to most indicators, OMOG is highly overbought and due for a correction.
So you're telling me you buy stocks simply on the story they tell? OMOG is not commodity related. It is a shell company that is about to change it's name and business plan. Just read last week's PR.
Low market cap? How do you figure? The market cap looks extremely high to me for being a public shell with no business and potentially huge liabilities.
Accumulation? A small group of people buying peanuts? Okay, there has been some accumulation, but no one has been able to piece together enough size to warrant a trade. The risk/reward simply isn't there. Try selling your boatload and you'll get off maybe 2-3 million shares and drop the bid back to $0.0001. There's no support. To me this simply looks like window dressing to go along with the PRs. If real investors jumped in this would trade 10+ million shares a day, which still isn't anything dollarwise.
Crude oil inventory doesn't look good. They're running out of places to store it while the Middle East continues to pump it. Maybe we'll see $20/bbl again soon! That would be great for the economy and consumers at the pump.
http://www.msnbc.msn.com/id/29495753
Follow through? Please tell us one thing, just one little thing, that Adam Barnett has ever followed through on? He hasn't followed through with anything. Ever PR has been a lie or BS thus far.
What follow through is there going to be to his latest trio of PRs? Is he going to have another meeting with his imaginary directors? Change the companies name and story since oil & gas is no longer "sexy"?
As to your ideas about price appreciation, yes, if all of your assumptions are true the price will continue to rise as long as whoever has been buying continues to buy. Right now it appears only one or two people are doing all the accumulating and I think we all know that is probably Adam Barnett himself.
For true price appreciation that you can buy/sell/trade this thing there needs to be broader participation and much higher trading volumes. Remember when this thing used to trade 100 million shares a day? Until volume reaches 10+ million a day this is an extremely risky trading proposition. Traders call stocks like this "trade by appointment" because if you did have shares you cannot sell them without tanking the market. It would take you 2 weeks of buying all the volume just to accumulate a 5-10 million share position, which is the minimum size any trader would consider to make it worth his while. No one day trades a sub penny at 20,000 shares a trade. The commissions eat you alive.
"i cant beleive i let them shake me out im kicking myself had millions dam oh wel goingto a penny i see "
While I question your claim of "millions" simply because today is the first day in weeks that the volume broke a million shares, good job on your trade. You got out at the top.
My prediction is another reverse split followed by another 99.9% haircut. It's been set up with fluff PRs for the sky to fall.
"I see it went up some more while I was out :)
dude you apparently don't understand my type of investing and its just beyond your comprehension to buy into something with a very low market cap I don't have the time to teach my strategy to you . So you like to invest with technical analysis have at it . Hope it works out for you "
I never said I like technical analysis. Go reread my posts. I said it doesn't work on penny stocks. Period. It works with large cap stocks with real, trading markets. OMDA does not have a trading market. It is a trade-by-appointment market. You're the one who started out spouting things about technical analysis this and bullish trends, etc.
Now you are changing your tune to be a fundamental investor? That doesn't sit well either. How could anyone who values fundamentals invest in a company that has no business, no business plan, but is thinking about developing a plan?
You say you like companies with low market caps? Great! Try something undervalued like IBM or DELL. Those companies are sure to go back up once investors return to the market. OMOG is extremely overvalued in comparison to its business -- or lack thereof -- and its business prospects -- a lawsuit that, even if won, has zero collectibility at this point.
Enlighten us as to why you are so bullish? Convince us old timers and help us understand better how to invest in these sub-pennies. I'd love to learn a better way to make money in this marketplace.
"I haven't seen any selling in weeks :)
Technicals don't work on pennies and imo they haven't worked in 14 years overall which is why I never use them.
a candle stick represents one day of trading and easy to see a possible reversal , as it did with this stock.
another UT while you are complaining"
So now you say technical analysis is worthless and always has been? Why have you hyped it as a reason to buy this stock? If you don't like technicals what caused you to allegedly buy a boatload of OMOG? It doesn't add up.
Uptick, downtick, it doesn't matter. There is no volume and this thing, in my opinion, is being manipulated methodically higher so new shares can be dumped on unsuspecting investors, if any can be found.
"Candlestick says its got more to go imo
all the negative comments wont change that bounce it already has"
That didn't last very long. All the technicals point to a top (overbought), including your candlesticks which are giving a sell signal... not that a buy signal was ever confirmed.
How far and fast will it drop when you unload your boat?
Keep telling yourself that. It's still cheap, buy some, buy a boatload. Myself and others bought it when it was cheap and Adam told us it "couldn't go any lower". That was before the last reverse split. Now management is hinting at another reverse split disguised at getting the share count and authorized down... good luck. I'll wait until Adam is no longer part of this company before I consider buying more.
Keep telling yourself it has legs and is just beginning according to your charts that have no confirmations. I feel sorry for you if and when you try to sell. There's a lot of free shares out there that will clog up the exits at the first sign of selling.
Where? Is buying five bucks worth of stock "loading the boat"? There hasn't been enough volume to load the boat.
I will admit, the way it's trading, if you did load the boat -- say buy at least 20 million shares at these prices -- the stock would do one of two things: shoot up to a penny, which is what it should do, or run into a wall of selling, which is what would most likely happen.
What stock are you talking about? OMOG has been in a free fall for years. The trend continues. A few days upticking on nearly zero volume is a statistical anomoly. One I might add that cannot be traded. There hasn't been enough volume to buy or sell this thing... unless your idea of a trade has a value limit of $5 or $10.
Adam Barnett said something similar to me a few years ago. Now I'm holding shares in his company I paid about $32.50/sh for and it is trading at $0.003/sh. If I were to sell it would probably knock the price to $0.001/sh.
What do you think the odds are this thing will rally to $32/sh?
Again, on no volume. Try selling a couple grand worth of stock. There is no real trading market in this stock. This sure does look like window dressing to me.
You can put every shade of lipstick you can find on this pig, but at the end of the day it is still a pig.
Franki that was a very good description of what I think we all see. You ask how can it garner so much attention? Why are there thousands and thousands of shareholders? Those are very good questions and questions that management should address and be held accountable for.
Why does a company with no product, no assets, nothing spend hundreds of thousands of dollars over a three year period on marketing? Marketing what? All I see is marketing its stock which would make it an illegal Ponzi scheme of sorts.
You mean like most of us old timers that bought in around 0.03 in 2004 based on personal promises of seeing 0.08 a share made by Adam Barnett (there were similar promises for gains on GMSC and others, which we know how those turned out as well).
Taking into consideration last year's reverse split my cost is $32.50/sh for a stock trading at 0.0024 bid. Thanks, Adam! And another one is looming in the future???
Technical analysis only works on companies with regular trading and real liquidity. This stock, and most penny stocks for that matter, do not adhere to technical patterns. You might as well take your money to a craps table. Your odds are better there.
Yes, technically the stock is up recently. It is not real trading that got it there. Look at the spread. 0.0024 x 0.003 does not give one a warm fuzzy. Investing in a stock that you take a 20% haircut off the bat due to the bid/ask spread is not a wise investment.
Plus, the rise has been on nearly zero volume. Since you are so into technical trading you should know that most technical trends require a jump in average daily volume to confirm the technicals. You don't have that here. 800k shares a day for the past two days on a sub penny stock? Please. This thing looks like it was manipulated higher on purpose. The only technical that confirms is a probable bear trap. This thing could easily fall back to 0.001 tomorrow on even less volume. Caveat emptor!
Collectibility. In the event of a win collectibility looks very unlikely. There are no assets other than the wells themselves. With oil bouncing around between $30-40/bbl those wells are probably worthless. Everything I've read suggests oil would need to be at least double current prices to make these kind of stripper wells economical.
The lawsuit, in my opinion, has never been aimed at collecting anything of value. Adam knew there was nothing of value before he filed the lawsuit. Rather, the lawsuit has been a big public relations bonanza for Adam to print and sell shares, reverse split, and print and sell even more shares.
I'm not saying Lanza is a good person or innocent. He's scum of the earth. Being scum of the earth he has hidden his assets. Just look at Adam's buddy Turino. Similar situation. The SEC put out a big PR about going after Lanza and getting a court order to disgorge $8 million. Last I heard all they have gotten so far is about $100k.
Mark my words. May will not be a big $50 million pay day that Adam promised us all. If OMOG wins, and I believe that to be doubtful at this juncture, the only thing we will get is a multi-million liability to plug a bunch of worthless wells that are no longer economic. If that is a homerun I've got some oceanfront property for sale real cheap.
Naw. I believe most penny (and sub-penny) stocks are just one-man or small groups of people who have an idea and dream to make that idea come to fruition. Somewhere along the line someone sold these people on the idea of buying a public shell that would make it easy to raise capital.
Upon purchase they immediately get in over their head and issue shares left and right to all the snake oil salesmen that promise quick funding and promotion -- all for free trading shares, no cash up front. Of course we know what happens. No funds are raised, but those shares are sold promptly into the market. Look at BMCS, GMSC, PDIV, JKFC, and so on.
Hence, I believe the CEOs of most penny stocks are good honest people with good intentions just trying to get a business off the ground. It is the people who prey upon them and destroy their companies and their public share price for a few quick bucks. It's sickening!
Every once in while there are greedy CEOs who have criminal minds and actively defraud investors to line their own pockets. These garner a lot of media attention.
I bet if you went through every pinkie stock you would find very few CEOs have an arrest record. It's just not that common in reality. We only hear about the few that do wrong, never about the ones that do right. OMOG's CEO just happens to be one of those rare few with a criminal arrest record. Adam was not arrested for failing to return an overdue library book. Scary, very scary.
Yes, in theory and by corporate statutes, Adam works for us. in reality he does whatever he pleases and thinks of us as vermin.
There are laws governing stock issuance that say a company cannot issue a convertible security unless there are enough available treasury shares to convert into common stock. Similar to a casino must have cash on premise for all of the chips out on the floor.
I believe Adam's preferreds carry a conversion ratio of 50-1. I don't remember exactly, but it is something like that. In order to keep his preferreds he couldn't reduce authorized to 300 million. If he does a simple shareholder suit in Delaware would strike down his preferreds and the shareholders would control the company, finally.
Also, the authorized shares are adjusted pro rata with a reverse split (or forward split for that matter). Returning the authorized to pre-split levels requires a separate vote of the shareholders. A company's capital stock (issued & authorized) moves together. It cannot be separated for the conveience of diluting existing shareholders to nothing against their will. I'm fairly certain this was not done legally during the last reverse split, but there is always the magic of post-dating corporate resolutions and falsifying shareholder votes (when was the last time we really voted on anything?). Thus, we return to the beginning of the theory and reality of being shareholders in an Adam Barnett company.
No doubt. I question anyone's sanity who think this would be a good place to put any money, especially considering so many good, well managed companies that have real revenues and profits are on sale in this current economic climate.
I also question anyone's sanity who would invest a single penny in a company that is lead by a person who:
1) has a long and distinguished arrest record (fact);
2) has a restraining order in place against him (fact);
3) has been indicted on pending felony charges (fact)
4) is under investigation by the SEC and DOJ for securities fraud (fact-myself and others have given testimony to this effect);
5) has sued his own shareholders just to (paraphrased) "inflict economic pain" (fact);
6)who is threatening people posting on this and other message boards at this moment with a new round of lawsuits if they don't shut up (fact); and
7) who, under oath, called himself "Godzilla" of the penny world and thinks OMDA outperformed every other company on the planet despite never producing a single penny in revenue (fact).
Is this they kind of person you want managing your hard earned money? I doubt it.
I wish someone would have warned me about these facts and the kind of person Adam Barnett is. It would have saved me a lot of money. Maybe I should sue? Collectibility is unlikely, but... Just food for thought...
It was clearly in today's PR. Adam mentioned reducing the authorized shares to 300 million. That would be welcomed because he would have to return his super godlike preferred shares. Such super shares cannot exist unless there is room in the authorized common to convert into. That's a technicality that will probably be overlooked.
Another fact. Adam cannot survive without constantly printing new shares. He has been printing shares since the day he took over OMOG and will continue doing so as long as he controls the keys to the printing room.
Then there is the fact that there are only two reasons a small company like OMOG changes it's name. The first is it is involved in a reverse merger. That is unlikely. Adam will not give up control. The other is it's "story" has become stale and it can no longer sell shares to unsuspecting investors. I believe this to be the reason OMOG would change its name. In either case it is highly unusual NOT to conduct a reverse split in conjunction with the name change.
Oh, I do understand. When doing that you are given a blanket reply to look at the website and further information will be forthcoming.
Great! Allusions to another reverse split coming followed with a name change.
This amateur press release shows that Adam and whomever else he deems "board members", since that information is classified, are merely playing business like a bunch of high school kids rather than conducting business like real adults.
Don't forget that there have already been depositions and affidavits taken under oath against Adam Barnett.
The charges include WRITTEN felony threats. Those are not fabricated from false accusations. The prosecuter has those written threats in hand.
There was also a restraining order against Adam.
These things are all facts. False accusations do happen, and may be involved to some extent here, but when something is in writing it is hard to dismiss.
No doubt Barnett is trying to plea his way out of this or convince/bribe the accuser to drop the charges so he doesn't have to go to jail. Adam will be very, very popular in prison if he goes.