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I guess your informed source would be the 8K SEC filing increasing the authorized to 200,000,000 and not one billion.
Here is the phone number,
Avalon Oil and Gas
952-746-9655
Maybe they will communicate with you, they should won't communicate with me!
STOP THE JUNK! SHOW THE PURPORTED “No VALUE” of the assets This challenge has been issued, yet NONE have shown fact, just lots of HOT AIR, BLUFF- BUT NO...ZERO FACTS OF “No Value” BASED ON INDUSTRY STANDARDS!!! WHY NOT? because there is VALUE!!! challenge issued, FACTS AWAITED...truth CENTRAL? yessssssssssssss!!!
Had a nice conversation with etrade folks last night, it appears Avalon has not notified them of a proxy vote as of the close of business yesterday. Normally they would set up a way to vote on line through proxyvote.com. Without notification from Avalon this is not an option with them today.
I was assured by Etrade that Avalon has me listed as a stockholder of record and to fill out the proxy , mark my vote, the date, my signature and print my name as it appears on my brokers statement as I do not have stock certificated in hand.
With that being done send it to Avalon as the proxy materials instruct. I would suggest that all shareholders get their proxy sent to the company as soon as possible. That material is now available on the Avalon Web page.
Someone here asked, what happens if the proxy fails, just me, but the KR madness needs to stop now! If this passes shame on all that voted for the increase.
Love the ask moving to $.175, maybe the bid will increase up from $.05, but why, when someone is willing to sell you 853 shares of Avalon at a nickle. $42.65 for the stock and ten bucks for the transaction.
You need to mark your bids all or none, unless all you want is 853 shares. Keeps folks from playing these silly games.
As I have said many, many, many times before. The games folks play, just to have the stock close at nickle.
Don’t you think shareholders losing 1.27 billion shares due to management’s decision to R/S is bad enough without suggesting the share value today would be $.00000666 without the last two R/S.
At the last reporting we had 3,191,137 shares outstanding, at the current market price of $.12 our market cap is $382,936 and the last reported stockholders equity position is $516,036 which is $133 K more than the market cap numbers.
The dialog here suggests the stock price, “without” the last two R/S, would be $.000006666 per share.
That number was confirmed by another poster and of course these statements were made without any supporting data.
The last two R/S were 20 to 1 and 300 to 1, the 20 to 1 cost shareholders 312,816,792 shares. The 300 to 1 cost shareholders 954,010,763 shares for a total share loss to shareholders of 1,266,827,555 shares lost to R/S.
Yes …. 1.2 billion shares.
Add the current shares outstanding of 3,191,137 to that number, and if the last two R/S were not done the outstanding share count today would be 1,270,018,692 shares, divide that number into the current market cap number ($382,936) and you have $.000301519 per share. Divide that number (1.27B) into the current stockholders equity number and you have $.00040631 a share.
1,270,018,692 outstanding, without the last two R/S at $.000006666, the market cap number would be $8,465.94.
And folks want to talk about misinformation. Don’t you think shareholders losing 1.27 billion shares due to management’s decision to R/S is bad enough without suggesting the share value today would be $.00000666. That would be a market cap number of $8.4K.
Vote “No” for the increase in the authorized.
The Blackrock SEC filing relates to the post I made to Brainstorming. It was a heads up about ATP! I do not have private messaging here. If you read the post, which I copied below, you will see "You need to look at ATP"..... ATP is not Avalon. Blackrock would be insane to purchase Avalon shares.
"Brainstorming ....... no you are out for a few weeks. You need to look at ATP with special interest into Blackrock's SEC filings SC13 G/A and earlier 13F HR / A filing.
Looks like they doubled their postion with all the bad news."
Been down this path before, last business fraud case we win $32 million, they settled during appeal for $24 million and legal fees /court cost. We did this as a civil action.
Just me, but money is not everything, I want to give the board an opportunity to do the right thing. If they don’t that will be a business decision they will have to live with and a matter of personal integrity that they will have to carry.
As far as my value assessment of the Avalon assets; if Avalon still owns the assets they claim to hold, the documents I have and have seen would suggest a higher number than I have reported here. If there has been fraud committed in these documents than the author’s will have some explaining to do!
Remember KR and management mismanaged of the Avalon IP license asset for the Mitigation of Paraffin Wax and they lost that license, while still claiming ownership. I personally saw that technology work in the lab. The set up and testing were crude but the ultrasonic waves did liquefy the wax. This is a billion dollar problem in the oil and gas business, he who finds a cost effective solution we make millions of dollars. Just me, but I believe Avalon’s management did not have the experience to manage this technology properly. I also believe Avalon might have an opportunity to regain this license.
One thing is crystal clear, in regards to his role as President and CEO of Avalon, Mr. Rodriguez has stepped outside the grey area big time. Calling him out for actions concerning the management of the company is one thing, calling him outrageous names and attacking his family is another and I do not want to be party to. His lifestyle is his own business, as yours is to you. Bringing his family, children and parents into the dialog is classless.
We are stockholders in a business; we are not stockholders in one’s personal life.
Good morning
This post is in regards to Avalon Oil and Gas’s (AOGN) recent 14 A filing. Today I am asking for your support in the upcoming special meeting of shareholders on September 28th. I am asking all shareholders to Vote NO, for the authorization to increase the authorized common shares from 3.33333 million to 1 billion shares. The reasons for my request are listed below, but first some housing keeping concerns regarding the vote.
In Avalon’s recent 14 A filing, they state proxy statements were mailed to shareholders of record on or about September 1, 2012. They also report that information can be obtained on the company’s web page, which to date there has been no information placed on the company’s web page nor any “public press releases” regarding the proxy vote.
One of the concerns regarding this vote is in the proxy statement that states, If the proxy is executed and returned, it will be voted at the meeting in accordance with any instructions, and if no specification is made, the proxy will be voted for the proposals set forth in the accompanying notice of the special meeting of shareholders. As required by the company’s articles of incorporation, the vote “will require the approval of the holders owning a majority of the Company’s outstanding shares of common stock.” A “no specification” is not an approval vote when the proxy clearly gives common stock owners the opportunity to vote “For” the proxy.
Another concern is the company’s articles of incorporation also clearly require the approval of the holders “owning a majority of the Company’s outstanding shares of common stock.” Regardless of the preferred holders voting rights, “owners of the majority of the common shares must approve the proxy”. I would suggest that your own legal counsel review Avalon’s articles of incorporation for their interpretation. The key words are “holders “owning” a majority of the common stock, specific to the common stock class holders.
Reasons to Vote “NO”!
As common stock owners we now being asked to approve the increase, let’s not lose sight of the fact that almost 45 days ago we had a 300 to 1 R/S and now management is seeking to raise that authorized back to 1 billion. To compound this situation, Mr. Rodriguez the President / CEO and the sole holder of Avalon Preferred stock class, reported ownership of 37 million shares of Avalons common shares in November of 2011. Today Mr. Rodriguez has reported he has “NO” position of ownership in Avalon’s “common stock”. The first hint that we get of Mr. Rodriguez disposing 37 million shares is March 31, 2012 in the 10K annual filing. I have asked Mr. Rodriguez to explain the disposal and to date no response from him. On May 18, 2012, after Mr. Rodriguez disposed his common shares, the board voted to R/S the common stock 1 for 300. I would also question the board’s authority in that decision. I would hope that no one reading this post was involved in helping Mr. Rodriguez dispose of these shares without proper notice required by the SEC. The last thing I would want to see is someone being blindsided by an SEC investigation.
Furthermore, I presented questions to the board concerning these 37 million common shares reported owned by Mr. Rodriguez back in 2011 and have recently disappeared from his reported holdings. Why those shares have not been reported as transferred and or sold, are also a violation of his employment agreement. I also believe those shares were not available to Mr. Rodriguez “to vote” in the May 2012 board decision to reverse split our common shares.
Based on SEC filings and Nevada State filings, the board on 5/18/ 2012, voted to reverse split the common stock, the Nevada filing for that reverse was dated 6/13/2012, reducing the authorized from 1 billion to 3.333333 million. This was almost 30 days after the vote and then the SEC filing of this action were on 7/16/2012, 30 days after the Nevada filing. There was no reporting in the 8K concerning the “vote authority” of the May 18, 2012 action. In my communications with American Corporate Enterprises, Avalon registered agent in Nevada, their President told me that they did not prepare nor did they file the 6/13/2012 Nevada filing (the R/S), nor did any of the Avalon board members address my questions concerning this filing.
Some may recall the SEC 11/30/2011, 14C filing, where the board authorized, by voted shares, the increase in Avalon’s authorized common from 1 billion shares to 3 billion. At that time Mr. Rodriguez was reported the holder the 37 million shares reported above. That action was never filed with the state of Nevada and the authorized remained at 1 billion until the 6/13/2012 filing reducing the one billion authorized to 3.333333 million shares authorized today. If in fact the board had the votes to authorize that increase to 3 billion, management failure to make the required Nevada state filing is another violation of Mr. Rodriguez employment agreement and his fiduciary responsibilities to shareholders. My guess, they didn’t have the votes.
Mr. Rodriguez the President and CEO holds a preferred position in Avalon which allows him to convert that position into 40% of the then outstanding shares of common stock, limited to the shares available. Today with 3,191,397 shares outstanding and the authorized by the state of Nevada at 3,333,333 shares that conversion would be for only 141,936 shares. His preferred position does have “Holder” voting rights at 40% of the number of common shares outstanding. These “voting rights” are not “ownership rights”, he gets those rights when he converts. A vote to increase the authorized back to 1 billion would again give him the opportunity to convert for as much as 40% of the authorized in the future.
This is a slap in the face to each and every shareholder. First with Mr. Rodriguez reported current holding of “NO” common shares of Avalon stock and the mysterious disappearance of his 37 million common shares reported in 2011. The board reducing our holdings 300 to1, without what I believe to be proper authority and now asking for a voted increase, which the board today doesn’t have the votes to do. These actions appear to me as self-serving and also a violation of Mr. Rodriguez employment agreement and his fiduciary responsibilities to shareholders.
In a written document I received from the University of Wyoming, Avalon lost the technology license for the Mitigation of Paraffin Wax back in 2010. Disclosures made by Mr. Rodriguez concerning this technology in the “Stockhouse” interview and other statements, written and or verbal in 2011 concerning this technology were intentional misstatements and omission of facts and are also violations of his employment agreement. These intentional misstatements and omission of facts should be concerns of Avalon shareholders and since this “license” was assigned to Oiltek and presented in their IPO filings; I would think concerns of Oiltek shareholders and broker dealers holding our shares, who would offer these securities to the public. The one officer of Oiltek, Mr. Rodriguez, was aware of this situation. These violations are concerning to shareholders like myself and are serious violations that the board of directors should address, but thus far have failed to act upon.
Not only should the board dismiss Mr. Rodriguez they should also seek financial remuneration from him of $10 million dollars, as I believe that is the minimum damage he has cause to the shareholders for these actions and others that I have not addressed here. I would strongly suggest that the three remaining board members, Ms. Allison, Mr. Barton and Mr. Haeusler seek Mr. Rodriguez voluntary resignation and his voluntary forfeiture of his preferred voting and conversion stock rights. I would also suggest his forfeiture of any unpaid salary due to him to date. These are serious violations of his employment agreement and his fiduciary responsibilities to the shareholders.
I would also hope that the three remaining board members vote “No” to increase the authorized common shares. I would also hope that the board use this scheduled Special Meeting of the stockholders to “right the ship” and move Avalon down the road to profitability. To suggest that we the shareholders approve authorization to increase the common stock back to 1 billion shares is obscene. My hope is that the board and Mr. Rodriguez will reach a resignation agreement before civil action is filed against Mr. Rodriguez. Intentional misstatements and omission of facts by “public” corporate management is a serious issue.
I would also hope you will vote “NO” for the authorized increase to 1 billion shares and push for the dismissal of Mr. Rodriguez from the management of Avalon Oil and Gas. It is important that all shareholders are informed and make their own decision regarding the future of Avalon. If you know other investors in Avalon please pass these concerns to them.
Best regards
Brainstorming sorry about not getting back on this, you can find the information in the SEC filing for the company. Hope you were able to get in, I made three purchases, first at $.137 after I read the filing, second at $.085 and my third and final buy was at $.081. The stock is at $.17 / $.18, some folks think $1.90 is realistic for the conditions. I am not selling but will be buying more, waiting for maybe another dip, if not will jump back in on the way up.
I will be voting no increase.
apdragon thanks for your post, yes, make sure the proxy is in your name, but tell your broker to advise clients to vote "no", and push for a motion to have KR removed.
This thing he does stops in 2012.
Brainstorming ....... no you are out for a few weeks. You need to look at ATP with special interest into Blackrock's SEC filings SC13 G/A and earlier 13F HR / A filing.
Looks like they doubled their postion with all the bad news.
Did anyone notice the 14A filing today, also the meeting date has been moved from the 25th to the 28th.
"Notice is hereby given that a special meeting of the shareholders of Avalon Oil & Gas, Inc. (the “Company”) will be held at 7808 Creekridge Circle, Suite 105, Minneapolis, MN 55439, on September 28, 2012 at 4:30 pm, for the following purposes:"
Folks need to read this document, if you need help finding it here you go;
http://www.sec.gov/edgar/searchedgar/companysearch.html. Type in Avalon in the company name and go down to the state and select MN. This will bring you to all of the SEC filing for Avalon. Select the lasted filing 14A and read.
Damn I love it when some folks do start to pay attention to what you have emailed them. Finally management publishes the current “legal” authorization in the 14A.
“As of September 1, 2012 the Company was authorized to issue 3,333,333 shares of common stock. As of September 1, 2012 the Company had 3,191,137 outstanding shares of common stock. To enable the Company to raise capital, the Company needs to increase its authorized shares of common stock.”
The latest 10Q listed the authorized at 10 million. KR and company never filed the 3 billion increase back in 2011 with the State of Nevada, for maybe a “legal reason”.
You need to read the 14A filing and if your shares are in your name mark your proxy as a “no” vote. If your shares are not in your name, but in your brokers account you need to contact your broker. Be sure to get your "no" vote in!
Just wondering if anyone noticed Blackrock’s current SC13G/A filing on 9/10/2012 of ATP shares owned?
Looks like they doubled there position from their last 13F-HR/A filing for period ending 6/30/2012. The 13F-HR/A filing shows 409,221 shares and the recent SC13G filing reports 841,149 shares.
It is always a good time to buy when there is panic in the streets.
In one’s typical life, one would think all parents would install in their children along with “don’t drink and drive is “don’t be a whiner”! If you feel you have been served an injustice do something about it. The answer is not to whine and wait for government authorities to take action, as investors we will not benefit from any governmental action against a company. The government keeps fines and penalties levied against companies. By the time the government is finished with a company and its management there is no money left for the investors. I have learned a long time ago civil action against those that have crossed the legal line is the best course of action. This includes those private parties that provide false and misleading information to the public in their efforts to devalue a company’s stock value and or to increase that value.
As for me I stand by my belief that the Avalon oil and gas assets have value in excess of 10 million dollars. I am willing to debate the merits for that assessment with anyone, at any time with facts to support my assessment. This includes all parties that have publicly declared these assets to be worthless.
One of the best compliments one can give someone is by copying their words, the “games folks play”, I love jousting with folks that have money and when they cross the line they expose themselves and that money.
A word to the wise, never ever bluff.
Brainstorming thanks for your post ....This whole play has been going on way to long, ….. “Fool me once shame on you, fool me twice shame on me.” Rene and his investors are in the same boat we are in; none hold a 5% or greater position. Nineteen broker / dealers made trades in this stock over the last 9 months, I am sure each one of these folks are aware of the issues here, you can be assured I will be reminding them shortly.
Just me, but I believe KR will be having bigger problems than finding enough votes for this proxy, folks may remember the SEC 14C filing back on 11/30/2011, KR reported he held 37 million shares of common shares in addition to his preferred position. He has reported this information for some period of time. In the annual reported dated 7/13/2012, it appears KR lost 32 million shares of his common stock holdings with only reporting his preferred position and his Weyer Capital holdings.
And here recently in the 14A filing, he only reports his preferred position. What happened to the 32 million shares he held? And what happened to the Weyer Capital holding that were reported? Did KR sell any of these holding without reporting the sales? Did he assign these shares to a third party, there are no SEC filings concerning these shares, but what was stated in the SEC filing, and most importantly; his control position has decreased.
Just me again, a lot more questions for the board.
Did anyone notice the date of the board’s approval of the R/S 8K filing? That SEC filing was dated 7/16/2012 and the board vote date was 5/18/2012. So now we have a vote by the board on 5/18 to reverse split the stock, the Nevada filing for that reverse was 6/13/2012, almost 30 days after the vote and then the SEC filing was 7/16/2012, again 30 days after the filing. There was no reporting in the 8K concerning the “vote authority” of the May 18, 2012 action. In my communications with American Corporate Enterprises, Avalon registered agent in Nevada, their President told me that they did not prepare nor did they file the 6/13/2012 Nevada filing (the R/S), nor did any of the Avalon board members address my questions concerning this filing.
To be fair Mr. Haeusler did respond, stating he sent my questions and concerns to KR. Today, I have serious doubt the Board had enough votes to authorize the R/S, voted on May 18, filed in Nevada on 6/13/2012 and reported in the 8K on 7/16. The board didn’t give any shareholders notice for / of this voted action, KR has 32 million shares less than he had in 2011. Where did the votes come from? And now we need a special meeting to increase the authorized back to 1 billion.
With the PRE 14A SEC filing on 8/31, calling for a special meeting of the shareholders of EFL Overseas, Inc. (the “Company”) to approve an amendment to the Company’s Articles of Incorporation, such that the Company would be authorized to issue up to 1,000,000,000 shares of common stock. This filing is close to criminal in regards to corporate fiduciary responsibilities to shareholders, they didn’t even get the company name right.
With this screw up, we have the 9/4 PRER 14A SEC filing, replacing EFL with Avalon, still asking to increase the authorized back to 1 billion shares which was reduced and reported with the SEC on 7/16/2012. What was that 45 days ago? And most importantly, according to the State of Nevada, Avalon’s authorized common stock today is only 3.33333 million shares. There is no “real stock” available for KR to convert is preferred position.
It is clear to me you need to contact your broker, I’m sure it is one of the nineteen reported above, and tell them to vote “No” on the proxy. Tell them to also suggest that their other clients who hold a position in Avalon also vote “No”. Remember to “abstain” or not to vote gives leverage to the yes vote. KR needs to be replaced and as reported in the SEC filing on 9/4 hold’s no common shares of Avalon.
There are lots of questions the board is going to have to answer here shortly! This is a crystal clear case of “public” corporate fiduciary responsibilities to minority shareholders. SEC has clear rules to follow and the state of Nevada has clear corporate rules to follow. Those public corporate officers, who want to bend the rules or stray from the path because they think they can get away with it, will one day be called to task and will have to answer for the decision they have made. Someone and believe me when I say someone will call them to task!
All Avalon shareholders need to vote “no” to increase the authorized and at the special meeting, we need to present a motion, according to Nevada corporate law, to replace KR as an officer of the company. The proxy also states, “To transact such other business as may properly come before the meeting.”
Gregg226 thanks for your post, haven’t had a lot of time checking into the Schedule 14A filing on the 31st and then the additional 14A filing today. Been busy with Isaac related issues, three of our investment properties had damage but the rest of them were OK as was my home. My sailboat made it through the storm, no real damage to the marina but couldn’t get into the facility for four days. Today is our first full day back in the office and I'm trying to get caught up here.
The 31st filing looks like another mistake by KR and crew or was it? Believe the EFL information was placed in there intentionally, who could screw that up? EFL Overseas is based in Houston, but they are the Holloman Energy folks. Not sure why Holloman would want EFL and not sure why EFL would want Avalon.
One of the more interesting elements in these filings KR doesn’t seem to have the votes to raise the authorized. He may want to invest in EFL’s Yukon assets. Did have a chance to quick read EFL’s investor presentation dated the 17th of August. They are trying to raise $33.85 million to develop the Yukon territory property they purchased from Devon Canada. That investment cost them $289K in cash, and of course there are other strings attached.
The below is a little information about the Devon purchase by EFL.
In exchange for Devon’s working interest in the KGP, (the “Devon Assets”), EFL paid CAD$293,700 (USD$289,295) in cash, and indemnified Devon against its portion of the abandonment, reclamation and environmental liabilities associated with the Devon Assets. Early estimates of those liabilities range from USD$7,000,000 to USD$8,000,000. To secure indemnity, EFL provided Devon a corporate guarantee (the “Guarantee”) in the amount of CAD$10,000,000 (USD$9,830,000) and delivered a letter of credit in the amount of CAD$4,380,000 (USD$4,306,000) to Devon (the “Devon LOC”). They also agreed to deliver a letter of credit in the amount of CAD$625,000 (USD$614,000) to the government of the Yukon Territory as soon as practicable (the “Yukon LOC”). The amounts of the Devon LOC and Yukon LOC reduce the amount of the Guarantee on a dollar-for-dollar basis. They intend to actively develop and explore the KGP lands which will defer potential abandonment and reclamation liabilities into the longer term. The Guarantee was provided to Devon by their largest shareholder, Holloman Corporation, in exchange for 3,250,000 shares of our restricted common stock. Likewise, the Devon LOC was provided to Devon by Pacific LNG Operations Ltd. (“PLNG”). PLNG is also committed to provide the Yukon LOC to the government of the Yukon Territory. In exchange for the Devon LOC and Yukon LOC they issued PLNG 4,000,000 shares of our restricted common stock. PLNG is an investor specializing in energy related transactions and is currently a 47.5% partner in Liquid Niugini Gas Ltd., a company established to build and operate a facility to deliver liquid natural gas and natural gas liquids in Papua New Guinea. PLNG is also a substantial interest holder in the Elk and Antelope gas discoveries in Papua New Guinea. Henry Aldorf, the Chairman of EFL’s Board of Directors, is President of PLNG.
Just me, but today my vote is NO to raise in the authorized, KR is now stuck, legally Avalon is authorized for 3.333 million shares which 3.1 million have been issued. His preferred shares are limited to the available unissued shares. Which would be 142K, he does have voting rights equal to 40% of the outstanding shares issued, but his ownership in the company is majorly limited as long as the authorized remains at 3.33 million, and he doesn’t have the votes today to raise it.
I would advise everyone to not vote for the increase and at the special meeting on the 25th, someone needs to make a motion to have KR removed as an officer of the company. KR’s 40% does not control the company anymore, only with your vote can he get that control back, don’t give him your vote.
Just as a closing note, I purchase more shares the Friday before the storm and still haven’t sold any of my holdings.
Good evening …. As most folks are aware we here in the New Orleans area have had a visit by hurricane Isaac. Been busy since Monday preparing and now even with hundreds of thousands of folks in our area are without power, we are a few of the lucky ones who had power during the storm.
As I now have some down time, has anyone noticed the sec 14A filing, did anyone know we were shareholders in EFL Overseas Inc?
Harry C33 thanks for your private message.
Did have a chance to send my concerns regarding the latest 10Q report to the board! I think the board understands the issues I presented to them. The ball is in their court until September 15th. (my deadline) Do have a few more questions for them, as I now have time to deal with my other Avalon “investment” concerns.
In my early DD on Avalon I found an interesting bit of information in the 2009 annual report, page 15, in reference to one individual who held a 7% position in the company. It is amazing what you can find out there if you know how and where to look. With my DD on this guy, I have a few questions and suggestions for the board concerning this individual.
Did anyone notice a few days ago when the stock went to $.25 a share, with a 1500 share buy. I would guess some folks just couldn’t have the stock go up like that, as someone had to sell 200 shares ($14.00 in value) at $.07 a share. But it was pretty exciting for a few hours. No news, no volume, than 1500 shares sold and purchased at $.25, everyone is watching and waiting to see what’s going on… the tension in the air was so thick you could cut it with a knife. No one dare post here about this activity, everyone was holding their breath waiting for that next $.25 buy; looking for that run. Then someone with a big smile and I’m sure with a little chuckle, sold 200 shares ($14.00) just to bring that stock price right back down.
Or on the other hand, do you think someone saw the stock going up to $.25 that day and in a state of panic decided to dump 200 shares, ($14.00) before it went any lower than $.07? After that 200 share sell, still no posts here, as everyone was disgusted by what they just witnessed, with just a couple of folks toasting and celebrating their success in bring the stock price back down.
But it doesn’t really matter, Look at the numbers, the company (KR) sold another $200K of value (stock) in January to pay the bills, our cash position is $112K; only $2K less than last year’s numbers. We have $44K in receivables and we still have our $160K deposit on the Western Oklahoma properties and of course numerous oil and gas assets. Most of the debt is convertible and the $200K in losses was mostly paper. We are sitting with 3.1 million shares outstanding today, with 3.3 million currently authorized, according to Nevada (legally) and KR reported in the 10Q we were authorized for 10 million. Still no Nevada filing to date for the 10M! The market cap number today is $223K and our cash liquidity position is roughly $316K.
Avalon 3.33 million authorized, round up to 3.1 million issued, leaves 200K shares available, no Nevada filing to increase authorized. If KR could get $.11 a share; 200k gets you $22K of investor dollars.
Pure logic, what will $22K get Avalon? Steal what, $22K and go to jail?
And a broke Kent Rodriquez, more incentive to let someone else run the company to make it profitable.
Word on the Street, Avalon has $337K in liquid assets! Market cap today $340K!!!!!
Chandlerborn …… thanks for your post, it was one a good one!
Let’s start to load that thimble up with accomplishments.
For starters how about just two that relate to the Grace Wells. Over the years Avalon has increased their ownership in these assets. Why do you think they did that? Is this fact or fiction? The company reported that information in there SEC filing. Does anyone have any proof that fact, is fiction?
Another accomplishment reported in 10K March 2012 report.
Revenues for the year ended March 31, 2012 were $253,882, an increase of $65,969 or approximately 35% compared to revenue of $187,913 for the year ended March 31, 2011. Revenues from the sale of oil and gas increased as a result of the increased gas production from the wells in the Grace Field, and an increase in the market price of oil.
Revenues up 35%, fact or fiction, anyone have any proof that this reporting is fiction. Why are the revenues up; increased gas production from the wells in the Grace Field! Fact or fiction, with no work overs how could that be???
After all of the dialog about the Grace Assets, no money to do the work overs, and the 10K reported; “increased gas production from the wells in the Grace Field”.
“Could be” speculation and “won’t happen” speculation, I believe to be healthy when there is some logic applied with that speculation. One’s speculation and the logic behind that speculation sometimes changes other folk’s perspective on what they see and or don’t see and more importantly what they might believe.
Most of the positive speculation here centers on some fact and or fact based statement made by management. As an example, the announcement of the JV, and confirmed by at least one party of the agreement, LC! Some would view this as positive progress. Now enter speculation, why would anyone do a JV with a company that had no ‘real” money and what would Avalon bring to a JV…. and looking for some logic, why would they want a company like Avalon involved. What follows here was the hype, both positive and negative. And what happened, the stock price went down. That is like advertising your product during the super bowl, and the following week your product sales go down. That defies logic, so we have more speculation.
Speculation should never be confused with reporting facts. Even the reporting of information that is believed to be factual is viewed by others from time to time as fiction and or manufactured. Of course the real “facts” always gets in the way of juicy speculation and or intentional misinformation.
As another example, there has been a lot of dialog concerning the Grace work over’s, with that, lots of speculation. Some speculate, and it has been a continuing theme, “There is no money available to do the work overs”. That theme lives on and on and on, regardless of the company reporting numerous times they have the money to do the work overs and the reported cash on hand in the SEC filings clearly shows they have the cash. That information is viewed by some as factual and by others as manufactured. Logic would suggest that manufactured information would result in jail time, but folks are still walking the streets.
In fact, if the work overs weren’t getting done, my logic would suggest there are others issues, not money. Why, because they, the company, report they have the cash and have demonstrated that in the SEC filings. If it’s not the cash than what is it? Or maybe they are getting done and not being reported!
I guess the real question is who do you believe? My suggestion don’t believe anyone, do your own DD and ask as many questions as you can and sometimes it helps to ask questions that you already know the answer to, just to see who is kidding who.
Just me, it’s always been about the oil and gas assets.
Brainstorming … Thanks for your earlier post. I believe August 2012 will be a very interesting month in the history of Avalon Oil and Gas. It has been reported here that Avalon management is working on a research report that should be released shortly. Releasing a research report is one thing, but as a shareholder in Avalon I will be more interested in the 10Q, 1st Quarter report; that filing deadline is August 14th, 2012. This should be an interesting read. I would hope that Avalon management checks and double checks that document. September 2012 may prove to be more interesting than August.
As we wait for any news from the company, I would also think most investors are holding. I haven’t purchased any additional shares since the R/S, at $.09 a share, nor have I sold any of my holdings. I have sent a couple of emails to all of the board members voicing my concerns regarding management’s lack of disclosure of the “terminated” license for the paraffin wax technology, which resulted in an reported impairment expense of $534,711.
Avalon’s management made the decision back in 2010 not to pay the annual royalty payment, which resulted in the termination of the license. And now, 2012, has made somewhat of a disclosure. It is one thing not to make the disclosure until 2012; it is another to promote the technology in the market place after knowing the license had been terminated. (Stock house Interview)
In my DD on Avalon, I found the information concerning the technology issue and reported that finding to Mr. Haeusler weeks before the 10K report was due. With Mr. Haeusler being a relative new board member and with your posts concerning his integrity, I wanted to see what he might or might not do with the information. Sure enough the information was somewhat disclosed in the 10K report, costing the stockholders $534,711 in impairment expense. Today, I believe Mr. Haeusler was unaware of the issue and when reported, he questioned management and the board, which resulted in the 10K disclosure. Did board members Mr. Barton and Ms. Allison know about the terminated license back in 2010? That will be a very interesting question going forward, not only here, but with the Oiltek IPO.
Each board member puts themselves out there as a “solid representative” of their respective business communities, advertising themselves as such and listing themselves as a Avalon board member to the public. Just me, but I think now is the big test for the board, will they do the right thing! KR is standing on an island all by himself; he only holds 42% of the company, not 51%. Will the board take any action? Will we see board members resign? Will KR resign or will he and the board just keep doing that thing they do?
As respected members of their business communities and their personal reputations on the line, the board should remember, “no one can take a person’s integrity from them”, that is something each one of us decides to give up ourselves. Some investors in public companies take fiduciary responsibility very seriously and some are willing to file a shareholder derivative suit. Shareholder Derivative Suits are suits brought by an existing shareholder on behalf of the company against the officers and directors of the company. The theory in a derivative suit is that a corporation’s board has been so faithless to investors’ interests that investors must be allowed to pursue a claim in the corporation’s name. To have standing to file a derivative suit, the shareholder must have “an ongoing proprietary (ownership) interest in the corporation.
But before filing the derivative suit, the shareholder must first make a demand on the board of directors or the other shareholders to take the action that the shareholder desires. The demand requirement serves to notify directors of the shareholder’s concern and gives them the opportunity to take corrective measures without litigation.
Shareholders wishing to file a derivative action to enforce rights of the corporation must file a verified complaint stating that the plaintiff was a shareholder at the time the action occurred. The shareholder must “allege with particularity” the effects the plaintiff took to have the corporation take (or refrain from) the actions desired. The shareholder must also state why the shareholder’s efforts failed or if necessary, why the shareholder took no action.
A derivative suit, once filed, will not be dismissed or settled without prior approval of the court. Courts have equitable powers and can remedy situations where majority shareholders breach fiduciary duties to minority shareholders. If the board wants to roll the dice and hopes no one will file such action; that will be a business decision they will have to make and live with.
Just me, but I would think not disclosing the information concerning the 2010 license termination until 2012 would be a huge breach of management and the board’s fiduciary responsibilities, of course only if they knew.
Again, September may just turn out to be more interesting than August!
On a more positive note, did you see: Dow Jones and Company, Inc. 08/07/2012 10:58 AM ET
Chesapeake Plans More Asset Sales, Forecasts Higher Natural Gas Prices
From the article:
"We expect gas markets to look very different in next few years than they have in past six months," Mr. McClendon said. "We think a multiyear up cycle for natural gas is now under way."
Just me, it has always been about the oil and gas assets!
Back in 2000, Russell Ray wrote an article titled Hunton Field Yield Oil, Mysteries. This is an article that Avalon investors should read. This field relates to the Grace Wells.
Normally, water production rises and oil production falls during the life span of an oil well. In this field, however, oil production is rising, not falling. "With a traditional reservoir, the oil cut will normally go down as time goes by, "Why should the oil cut go up?" That's the question the article addresses.
Another interesting article you can find is the Oklahoma City Geological Society publication Shale Shaker, Volume 62, March / April 2012, number 5; Oklahoma 2011 Drilling Highlights, by Dan T. Boyd.
He speaks of the Misener / Hunton (field) reservoir; (the Graces Wells in Lincoln County), he writes on page 387,
“Because this play requires a major drop in reservoir pressure before significant hydrocarbons are produced, a process that can take years, the productivity of new wells or areas cannot be ascertained based on initial potential tests. This is why none of these has ever made the annual list of significant wells. Horizontal Hunton and Misener/Hunton wells have produced about 5 MMBO and 283 BCF, generating an average recovery per completion of 10 MBO + 551 MMCF.
Here is the key sentence if you don’t want to read the article, “Because this play requires a major drop in reservoir pressure before significant hydrocarbons are produced”; this could be one reason why we don’t see the work overs being done on the Grace assets in a timely fashion. “Let other producers suck the water out and bring down the reservoir pressure.
Mr. Boyd also writes on page 309, Significant Wells in 2011. Listed at number 14, A horizontal Woodford Shale well that is off the beaten track was drilled in Payne County, north of Lincoln county. Boyds last sentence “a true Woodford oil well”.
You might also have read or heard about the 3d seismic work that has been done recently in Lincoln County. The vibe trucks have made some of the local newscasts.
Just me, but it has always been about the oil and gas assets.
Brainstorming ….. hope you had a nice holiday.
Your post, “If Rene throws K.R. out he certainly will have my backing and backing of other people to get this company going.”
I think Mr. Rene now has the ammunition he needs to see a change. As everyone is aware his tenure on the board started in August 2010, where Mr. Barton has been a director since 1997 and Ms. Allison since 2007. These two board members have more exposure to the 2010 issue. That issue is somewhat reported in the recent 10K report, page F-27.
NOTE 11: TECHNOLOGY LICENSE AGREEMENTS
On July 12, 2006 UMTI entered into a technology license of a patented process for paraffin wax mitigation from crude oil using ultrasonic waves from the University of Wyoming. This license calls for an earned royalty of five percent on net sales of licensed technologies and services; twenty-five percent of all sublicense fees and revenues with an escalating minimum annual royalty which will be credited toward the total royalties due. During the year ended March 31, 2011, the Company determined that the UMTI license value was impaired, which resulted in the impairment expense of $534,711. As of March 31, 2011, the Company has valued this technology at $0.
As this was in the the recent 10K report (2012) for the first time, Ms. Allison and Mr. Barton will have to make some hard decisions shortly because this issue is not just going away without consequences.
Thanks for the information.
It was 9 cents, but traded less.
Chandlerborn .... thanks for the update, Grace 5A is oil???? Any signs of LC running around there?
Mr. Always thanks for your post …… if that’s what you believe to be a realistic view, that is what you believe.
Each one of my trades cost me money. Is it fair and reasonable that some investor would pay, say $9.99, to buy and then $9.99 to sell $30.00 of stock? Just me but I would think most folks would just hold. More importantly to me, my DD would suggest other motives.
When the rubber hits the pavement it will be easy to address the "timing" and "motive" for these types of low volume, low cost trades, just as it would be easy to address these same types of trades when the stock is moving in the other direction.
When it looks like roast beef but smells like a fish, it is usually not roast beef.
Greg228 …. thanks for your post. I am not “per say” an experienced investor, I do not make my living playing the market and ask more questions of advisors than I possibly should. I do own a number of energy stocks and companies that provide state of the art “technology driven” products to the oil and gas market. I work for one of the largest geophysical companies with operations world-wide. Our division is located in New Orleans. Prior to this job I worked for Martin Marietta Astronautics on the super collider project and for Philips Consumer Communications, which we designed and manufactured cell phones and pagers back in the day.
I haven’t owned any securities that have had a reverse split, Avalon is the first. Even with a reverse split my ownership position remained the same and now KR has less shares to dilute my position, as the authorized, by Nevada law, is now only 3.33 million shares. I too was told my account would be updated once the Avalon agent delivered new shares. I was also told I could buy and sell the stock with just one phone call.
I haven’t given up on the merger as I am trying to understand the benefit of the R/S, if not related to this activity. I do have a one sided dialog going with the board of directors following the legal requirements concerning derivative suits. I do believe that majority shareholders and officers of the company have breached their fiduciary duties to minority shareholders with issues discovered with the exclusive license claims for the “System and Method for the Mitigation of Paraffin Wax”. You will notice that this information was removed from the Avalon web page recently. The real problem is that Avalon lost this license in 2010 and was just now recently reported.
In derivative suits, Nevada law requires that shareholders serve to notify directors of shareholders concerns and give the board the opportunity to take corrective measures without litigation. The SEC and or other federal agencies may have their own concerns above the lack of disclosure.
Folks will remember the StockHouse interview and all of the SEC filings between 2010 and now. Folks will also remember the Oiltek IPO and the IP that was given to OilTek for Avalon’s ownership position in that company.
It is going to be an interesting time going forward to see if the board does in fact take action and what that action might be.
It is time to stand up and take action. Email Rene and have him clean this mess up?
Good for you and welcome, buyers are good and you helped that person willing sell those shares get $33.00.
Houston we do have conformation, someone needed $33.30 so bad they sold 666 shares of Avalon. Maybe the devil made them do that! The old price and share structure on that $33.30 would have been $.0001666 a share.
Just me, but I think we have been played for some time by a group that is hell bent on driving the price of Avalon stock down, just to punish KR and his so called flunkies on the board. Instead of attacking Avalon management through legal means, and there are a number of avenues available, they attacked through the market.
If your game is to drive the price down, in this market it is easy to do. Just look at yesterday, 666 shares traded, with a value of $33.30, close price $.05. Because of that transaction everyone lost $.04 a share and the close price is logged forever.
Now look for a minute, if the game was being played in the other direction,we would be seeing shares trading at ask yesterday, what was that number $.37 a share. Didn’t happen! What is the ask now;$.25 a share.
One thing you can count on here, if someone decides to buy at ask, $.25, by the close someone will have sold some small amount to drive the price back down.
The games folks play, not only did they hurt the company, they also orchestrated the destruction of each shareholders financial position in the company. The average investor had no real chance to make any real money with this going on. Hopefully one day this all will catch up to them, as I know the issues I have with KR will catch up to him and possibly the board.
But first things first!
Don’t you love the symbolism here, 666 shares traded, and you don’t think some folks are playing games with this stock.
I didn't get any emails from the company, in your second KR email you said "research report".
Did he really use the words "research report".
Thanks!
I haven't heard anything, but wouldn't expect to. Did email LC last Friday to see if the JV was in still in play. Nothing back from him.
Renee ...... thanks for the heads up!
It has always been about the oil and gas properties!
Brainstorming thanks for your post, as you have described is also my understand! However, conversion is limited to the number of shares of Common Stock available for issuance under our articles of incorporation.
Today he only has a limited number of shares that can be converted, so today he has voting rights, 40% and interest payments.
The 11% will one day have had enough, as their interest continues to erode, that day maybe today.
Now is the time to choose a side. I gave everyone Rene’s email address.
Axeman …… thanks for your post …… you must be referring to the Avalon oil and gas assets.
KR doesn’t really speak that much about the oil and gas assets. He doesn’t really describe them in the SEC filings in much detail. He sure has not produced any large revenue from them, one would guess they must be uneconomical to produce. One thing we do know is their location.
For me it has always been about the oil and gas properties, here in Louisiana we have the Tuscaloosa Marine Shale running through the Florida Parishes where I live. Devon recently completed its fourth horizontal well, they are now four for four, the last well produces 384 barrels of oil per day.
Funny thing, folks thought the Tuscaloosa to be uneconomical to produce. Technology changes everything.