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Another Protected Trade Today For 2.62M.
Every day there is a protected trade, it seems.
Yes, Alex Tawse Still Has 30M Shares As Of
7/1/10 (Form 3).
He's had 30M for some time now; why hasn't he added? Hmmmmmmmmmmmmmmmmmmmmmm.
A Very Credible Source - Bloomberg/Businesweek
Of course you want the link:
http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=USOG:US
The why to filing late I think has to do with the 13d filing i.e. beneficial ownership do to the 400M in stock sale.
I'm done buying even if it hits $.0002
Too many anamolies to suit me.
The Relevance Being csud1 Is That
a late filing for USOG's 2010Q2 10Q is expected. USOG has to August 14, 2010 to file the 10Q or else it is late. 5 days if a formal extension is granted. Late filings can easily remand USOG to pink OTC. No uplisting could occur. That will hurt this stock. That's relevancy. That's all.
Relevance - My Crystal Ball Is Online:
United States Oil & Gas Corp. expected to report Fiscal Year 2010 results on March 15, 2011. This event was calculated by Capital IQ (Created on June 27, 2010).
06/27/2010
United States Oil & Gas Corp. expected to report Q2 2010 results on August 18, 2010. This event was calculated by Capital IQ (Created on June 27, 2010).
06/27/2010
This is PRO-prietary info for now.
Market cap is based on O/S not A/S. So currently, for $.02/share the market cap would be $28M ( assuming 1.4B shares O/S current). That's high for this company in the state it's in.
Could be USOG selling. I can't tell.
We are both looking at this stock the same way. With trepidation. So yes, you could have easily wrote it yourself.
Yes, they were.
Their web site as well as promotional newsletters depicted them to be in the oil drilling and services business. None that I can see
They even laid claim to be stategically positioned in the Baken oil res.
Perhaps that is the direction they were LOOKING to head (via the patents they acquired for drilling) but they don't drill for anybody. They also don't own any oil or gas producing wells. That was per 2009 10K or 2010 10Q for Q1.
Don't forget USOG's dilution-major point,
not just MM's and shorts.
Forward split on A/S is also a red flag as well as loss of transparency.
I also thought I was buying into a company that did well drilling services. I found that to be a farse.
Don't blame you for leaving.
Also see post #3661 (op cit) by Ack0605
The applicable part is pasted here:
"T" trades are protected trades.
A protected transaction occurs when a large order is going through the market. The buyer (or seller) may wish to keep the order anonymous from the rest of the market as the size of the order could greatly alter the price of the stock. With a protected transaction, the dealer will put the trade through in small quantities rather than knock the whole order out in one hit. The entire transaction is reported once the deal is completed. The LSE is notified at the start and at the end of the transaction. However, the market as a whole isn't told until the end, thus the order is protected.
No Trading Takes Place After Hours on OTC.
It's just being recorded after hours. Ack0605 pointed this out to me. I also called Knight securities and talked to a securities spec. for them. He also conf. no trading takes place after hours.
They are tapping the 400M left of
original 1.8B A/S. The 14M protected trades caused the price to drop .0002. See after hours recording.
Yeah, and volume was green.
However there were 2 ( as of now timeprint) protected trades:
t 0.0013 5191750 OTO 16:02:35
t 0.0013 9000000 OTO 16:02:35
One was for 5M and the other for 9M.
I hope it's not USOG diluting per their 5B A/S.
Not enough down volume in July.
There was about 154.1M sell (or red days) from July 1st thru July 23rd.
Besides, they had to be desperate to sell in July since the peak closing price was .0029 on July 1st. All downhill after that.
Revenue from sale of 400,000,000 shares:
For Q2 2010,
On 4/1/10 the price of USOG was 0.0113
On 6/30/10 the price of USOG was 0.0024
Assuming linearity, the average price would be:
(0.0113 + 0.0024)/2 = 0.00685
400,000,000 shares sold at an average price of 0.00685 is:
$2,740,000.00
This falls within ack0605's range of $4M to $600K.
What did they do with this money? Q2 should answer this all important question.
Yes,
Yesterday's candlestick was a bullish engulfing pattern after what was supposed bad news on Friday.
Today is a hangman. The early dip today was pulled back up by bulls/buyers.
Still in a waiting pattern.
One of these days
I'll check with my branch manager to get all these little details ironed out. I'm just going to relax for now and watch the panic that didn't take place (plus no 52 week low - yet).
Yes Bigtoe1963,
there are often large gaps in trading such as 40 minutes. That's not unusual. We may all have panicked Friday for nothing.
Here's the 1st minute trades I show:
0.0014 678065 OTO 09:31:00
0.0015 11000 OTO 09:30:22
0.0015 5000 OTO 09:30:22
0.0014 321935 OTO 09:30:13
Volume is not light.
In first minute 1.2 million shares traded. No trades since.
Here's the last trade I see:
0.0014 678065 OTO 09:31:00am
Also stop orders are triggered at 1st print of a sale. I believe you stated on a previous post it's when the bid hits. I checked with a stock broker friend at work on this (he was involved in trade disputes, so yummy).
Trading Has Halted
Could mean a symbol change such as OTCBB or Q.
Halted trading could mean news is imminent also.
Look Closely At The USOG Proxy Statement
Here's something of much interest:
At the July 20, 2010 Record Date, 1,429,378,400 of the currently authorized 1,875,000,000 shares of Common Stock were issued and outstanding. The Board of Directors does not believe the remaining 445,621,600 shares are sufficient to allow USOG needed flexibility in pursuing its long-term business objectives, including but not limited to future partnerships, financings, and operational transactions.
They want to be in a position to DO BUSINESS. It seems more ideal they did this - they can now do an aquisition. Just be patient.
The problem though is a reverse split. Then more dilution.
Conjecture Postscript
What do we know, as facts, and what conclusions can be inferred?
• Fact, alot of stock was sold to the tune of 500,000,000 shares.
That's what ALL those protected trades could be about. Say the average price was low penny. That would give USOG $5,000,000 plus as a war chest.
• Fact, 3.2billion shares, additionally, are now authorized. With good news (really good news) and the stock pops they will have $5,000,000 to add to their war chest say.
• Fact, all this was kept very quite and clandestine so as not to alert say to a hostile takeover?
Maybe a major contract has been landed for the Bakken Region or a major aquisition is about to occur.
Conjecturing
A/S are to be used as an insurance policy; just in case scenario to pay off the Turnbull note, or for operational expenses.
However, maybe (because Alex, Mike have inside information), the 10Q for 2010Q2 will be outstanding plus they KNOW uplisting happened ( or damn close) all of which will pop/gap the stock. They, like us, would sell to raise immediate funds. Turnbull note, poof, gone, next aquisition a strong go.
However 3 billion shares @ .001 (and that's graceful) is only $3,000,000. Not enough and that's giving the price stays at .001. At .0005 it won't be worth but $1,500,000. Plus NO investor, with any savvy, will touch the stock.
Bottom line, though, is the law of economics will come into play. The stock will be worthless and USOG won't get much. Hardly worth the risk to investor confidence. They (USOG) will be stopped, like it or not.
You stop them in the pocketbook. That's the investor's only recourse.
Any causes for legal action?
Per 1934 SEC act:
•Insider information/stock manipulation
•insider fraud
Need to get an expert opinion for a class action lawsuit potential.
Suspect - yeah. To 500M -no.
At least they, USOG, disclosed it.
And, in my opion, the price will sink Monday. You and me can agree on that.
If I Were CEO Of USOG
My biggest concern would be the life and death of USOG. IF we would not be able to pay off the Turnbull note with just the sales proceeds, and since Jeff Turnbull would not give an extension, we would need an INSURANCE policy in the event of not being able to pay off the loan. If USOG were to lose Turnbull, that would be much worse than the Authorized share increase. Authorized share increase is not dilution ( except pyschological) until shares are released. I, as CEO, NEED a guarantee we will not lose Turnbull. It's a just in case WISE decision.
We get uplisting. We get good net earnings increase. We can then dilute, say on a monthly basis to ensure the Turnbull note is paid off. With the hopeful good news coming we may still rise in stock price with a small steady stream of dilution.
Then the note is gone. We are pure profit with NO encumbrances. We can now buy back, on a steady basis,
USOG stock. The dilution comes down with our steady buying (on a regular basis). We reduce the A/S shares as well as float ( by buying public stock and retiring it). A steady march now occurs in the PPS of USOG stock. Just like the steady downward march we had.
The money has to come from somewhere.
US, the investors.
The_Pro
Not such a great invention.
It's strictly intellectual property. I challenged Marcy L. about any developed product based on the patents, or any licensing of the technology and I was given an aloof brush off vis a vis a news alert would be out, nothing else. She definitely avoided a very pointed question.
New 52 week low on Monday 7/26/10. No ifs ands or buts. Thanks Alex for looking out for the shareholders.
Nice. Float's Drying Up.
The Float Has Now Been Reduced
I own 1,000,000 shares of restricted stock (Not for sale).
The float is now:
371,706,055 - 1,000,000 = 370,706,055
Only 370 million shares to gobble up.
You can own restricted stock too. Just buy and don't sell - restricted.
All this PROvided for entertainment purposes, use at your discretion.
Bloomburg/Business Week describes USOG as:
USOG DETAILS
United States Oil & Gas Corp, through its subsidiaries, provides contract land drilling and support services to oil and gas companies in the United States. Its support services include preparing wells for production, maintaining and enhancing the output of producing wells, and exploration. The company also develops technology and manufactures drilling equipment for use in the oil and gas fields. United States Oil & Gas Corp. is based in Austin, Texas.
Here's the link:
http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=USOG:US
I thought they were retailers only. Wow this is huge (dated I'm sure) if it's true. Any PRO comments?
In my PRO USOG view, of course.
Here's What StockTA.com says:
Recent CandleStick Analysis
Very Bullish
Date Candle
Jul-16-2010 Hammer
Jul-15-2010 Hammer
Jul-14-2010 Bullish Harami
Jul-13-2010 Bearish Harami
This analysis is copied and pasted exactly.
Sell 400,000,000 shares at a 50% discount.
Selling would take place immediately since anyone making $4,000,000 would cash out. The price was .02 now it goes to .01. How does that help me at .0057 cost avg.?
Letting 400,000,000 Shares loose into the outstanding share pool will immediately cause the pps to be divided by 1.4 or a approx. 29% decrease in price. 1B shares plus .4B shares is now 1.4B shares outstanding.
Current PPS/1.4 is a 29% decrease in new PPS.
Slapping the Ask is Old Hat.
A serious investor will look at the volume history and see the root cause for the double reversal is Ask slappers.
When I look at a potential stock not only do I do my own chart interpetration but I will use PRO analysts for their opinion. Such are Reuters, Standard & Poors, StockTa.com, Ino.com as well as My Scottrade Advance Charts.
I will religiously look at the trend for the last six months to a year, the volume over that time ( if there are more green days than red) as well as RSI, 20/50/200MA, MACD's, Bollinger Bands (for resistance and support levels). About 6 of one and half a dozen of other E newsletters are searched also. Of course I'll use Investors Hub for chatter.
Slapping the Ask is worthless
if there is idecisiveness by the investors and strong forces driving the price down. I'd rather investors put in a low bid and gobble up the float. We have got to get the stock out of public access to MM's and shorters. When you gobble up the float don't SELL. That's killing us.
And don't use Stop orders or Stop Limit orders. The Shorts and MM's know they exist. They'll gobble you up and LOL on top of it.
Accumulation is the order of the day.
Correction to previous post
July 15 should be July 14.
Candlestick Pattern
from June 23, inclusive, thru July 15 shows about 7 Doji's give or take.
There were 15 trading days.
A Doji REPRESENTS indecision about the direction of a stock. For the last 15 trading days it can be seen about 50% were days of indecision. This correlates well with Q2 results pending, uplisting yet to occur and the Turnbull note.