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No, the DD is thanks to Banksy in this case.
Banksy pointed me to a link of a collection of latest oil- industry related news, which are summarized on Seeking alpha:
http://seekingalpha.com/news/2524186-shale-oil-producers-ready-to-bring-rigs-back-into-service?auth_param=k0aa1:1al9ja9:092cda9571200326cf383bc123999aad&uprof=44#email_link
An article, published on Wallstreet Journal summarizes, what we all expect with the recent improvement in oil price:
U.S. shale oil companies that cut production when prices plunged are prepared to return rigs to operation as prices rise, WSJ reports. http://www.wsj.com/articles/shale-oil-producers-ready-to-raise-production-1431556302
This text passage, for my understanding, is valid for fully reporting companies. A company listed on pinky board, which is not (yet) egible to emit SEC reports, might have other rules. But I'm not sure about this.
The predessor company, Exit Only, seems to fit to your description/expectations more likely. Of course I doubt some of what they say, but in general I have the opinion, that they are on a good way.
The skin creams/lotions are one of their examples, that they are able to produce real goods, which they're marketing and which you can buy.
Then they probably also promoted their shares via telephone, which is a common commerzialisation way.
I haven't seen the criminal record of that guy, and maybe he only has the reputation of being a fraudster, but on the closer look he is not a fraudster at all?
Well, I remember the hemp hysteria very well. Maybe they are still working on a serious product containing hemp seed oil as ingredient. I'm not sure about this. Hemp seed oil is safe in use.
We saw this price before, and we also saw 0.02 the again.
Woudn't agree with you in general. You might be right in many cases, but there are some exceptions, but very very rare.
Hahaha, Hemp hysteria? I'm not sure, if they're still promoting some hemp seed oil preparations. Bayport's web page is still connected with this business.
Did they promote their shares via telephone?
I'm not a typical investor in oil- and gas business sector, but in pharmaceutical sector this happened sometimes indeed.
This happens, when an idea becomes a fruitful basis, for creating a business around the idea.
Before we get not any reliable, proven news about this specific topics, it is still speculation. Indeed, it would happen very seldom, that a pinky stock becomes a NASDAQ stock over night.
One of their key steps would be the competion of the audit, for beeing prepared to become a fully reporting company. Both targets can be achieved step by step.
I'm still glad to see, that pps is around the 1 cent, with pps down and up around that price.
The mining activities seems not to be very active at Bayport at the moment, I agree. We haven't heard any news update about this specific business sector for 2 or 3 years. But these mining activities might not be idle, you still find some information about this. It doesn't matter to me, if they are working slowly on it, but I would think, that they still hold promising rights.
Of course it is the duty of the company to inform investors also ASAP. But if they do Friday or next week, that is not so important, I guess. More important and reliable is, if they would indeed have finished their audit, being prepared for for their business future. If they become bigger, of course all necessary forms need to be filled.
Yes, I will look at the news, when they're released.
Bearspread, you noticed it right, but as I already noted, these summaries of "attachments" might be somehow doubtful. Neither the description of the technology nor the science or business activities, which would work out as described, might be right.
That might be right. But on the other side, we only believe the Porter's, that they do a reliable business.
There might be some examples with slowly grow up to a NYSE stock, but mostly this happened by an aquition of an OTC stock by a big NYSE stock.
As we already know Bayport itself has engaged operators, which service the oil- and gas wells. Bayport itself does not directly participate in the drilling and exploring. Their partnes, who operates the wells, are well-named companies, some are NYSE stocks.
If we would hear some more details about the audit, I hope, we see some good gains, too.
Yes, it would be a good deal, if Bayport would give more details about this. They are very overdue.
I remember, they have laready payed for the audit, and I would guess that an external audit should be complete within 6 month, when they have an ISO certified company or a similar realted US norm.
Porter's nomination is 2 years out, and it was only a nomination. Have you heared anything else?
The current level at 0.008 is still very attractive.
Most intersting are also some "attachmets" at the end of the document. They give an outlook on the environmental impact, or at least, the difficulties combined with oil- and gas drilling, especially the waste water problem.
These is also some "ADs" from companies, who claim to be able to reduce waste water problems. Some of these technologies might work out, but scientifically what they claim, has to be evaluated by the companies, which use these products. Considerably doubt should be useful.
In this document they also gave the current value, or at least, what they think, the terminal has an economic value.
Were these claims also relevant, when the terminal was owned by Green Mountain Development Corp., or do both use the terminal?
Banksy gave me a link on a document for the terminal, wich is named Beach Haven by Green Montain Development, but named JFK terminal by Bayport and its partners.
http://greenbizness.com/blog/wp-content/uploads/2012/10/Beach-Haven-Business-Alternatives-GMND-06302011c.pdf
Thank you, the better the topic is defined, the clearer the arguments. I agree.
That's not right. Convertible bonds itself can be changed to shares, but need not necessarily be changed in big stocks. In big stocks that's mostly only one of the options, conditional dependend within the bond issue.
The problem of convertible bonds with pennies is, when used as sole hybrid financing instrument, that's indeed toxic. And this is where I agree with you.
Sure we see an improvement in pps, when the Las Vegas show announces more results.
Big stocks use convertible notes, too. In most cases, the conversion is dependend on the conditions of the bonds. The bond capital may be changed to share equity capital at the end of runntime of the bond. Sometimes the conversion or conversion rate is also dependend, if a special share price was reached or not. There are several different type of convertible bonds, which are used by big companies.
No run upwards, just dumping shares, pps going downwards, if the news were right.
In the penny world that might be right. But not in the finance world of big stocks.
That's why they never made any considerable gains/profits here?
I would just wait for the Las Vegas show. Some more news maybe might spark volume again.
Even if Bayport has issued some more convertible bonds to other people, it is not said that all of them convert them (if they could or can), and sell them at once. I'm sure, there also might be some people, who hold the convertible bonds, resp. the converted shares, and don't sell them right now or at once, but be prepared and convinced from a positive company performance.
No, is is not said, that all their stock is belonging to issuance of shares from convertible bonds. And obviously, despite selling shares from converting bonds, there have been enough buyers. Price is still around $0.01.
Well done. I also noticed nothing to be stated about convertible notes in their reports. The outstandings shares and the differing numbers might come from counting also the preffered. That was also on my mind.