From the FY11 Q3 10-Q:

"General and administrative expenses have increased from $381,133 for the nine months ended September 30, 2010 to $3,715,902 in 2011, mostly resulting from significant increases in stock-based compensation."

If you read through the 10-Q you can see more details around payments of shares to various consultants, etc.

Personally, since this is still in the start-up phase, I'm not surprised to see a larger % of their expenses in G&A at this point.

Sorry, guys, I think I spoke too quickly. I'll share what I found to help you other puzzle solvers out there though ...

First of all, the address in the 10-Q is in Cary, which for anyone who is not familiar with NC, is right in the Research Triangle (http://en.wikipedia.org/wiki/Research_Triangle)

Looking for businesses at that address, my first reaction was the same as already posted-- it's just a virtual office. But then I found a company called IPC Technologies, Inc. (http://www.ipctech.com/) who has offices in many cities across the country, one of which is that Cary address, and their Director of Business Development works there. That is when I thought they were our company. After reading through all their services though, they don't fit the definition of an Internet Marketing Firm.

BUT, I did find another company at that address that is an Internet Marketing Firm: http://www.creativisibility.com/home.html

Just from the little info I can find on Creativisibility though, I don't think it seems big enough to be our RM company. I'm back to wondering if acquiring "the assets of an Internet marketing firm" isn't the primetime show but just another piece of the puzzle to handle web presence responsibilities.

BOOM! I think I figured this jigsaw puzzle out, boys. Give me some time to double check some things in the morning. I'll compile & post my findings by noon.

That's an interesting point. The other thing is Asher would have incentive to keep the PPS down until news because they can convert their notes at a 50-65% discount of the average of the three lowest closing bid prices during the 10 trading day period prior to conversion.

Trading looked a lot better today. .055 seems to be a safe entry point for the time being. We've hit that level a few times since the oil strike and always seem to bounce to the .065-.07 range within a week or so.

Yep, strange. I think we may see more strange things as we get closer to the "D" coming off here. We're on the back 9 now!

There are very few eyes here based on the # of posts and board followers, but the PPS is making large jumps on very low volume. I think something is brewing.

OTC Markets lists the float as just 271k, so if something is brewing, this baby could really run on the right news.

http://www.otcmarkets.com/stock/plff/company-info

I looked at the L2 at one point today and saw two MMs sitting at .32 with ~66k shares each. Previously I think there was just one MM with ~132k shares, so it seems like the same amount of shares split between 2 MMs. I honestly wasn't sure what to make of that.

Halfway thru the 20 business days of SNRYD. It's possible things could take longer for the RM to play out, but my gut says things will get interesting in the next 2 weeks. We shall see.

Interesting. I just opened a new e-trade account recently and it let me put in a buy order without any problem. I even got some shares the other day when someone dumped a few.

Hey Sniz - why do you say e-trade won't let you trade SNRYD? I think the only limitation is probably selling the old SNRY shares because they haven't been delivered and converted to SNRYD yet. You can buy SNRYD on e-trade. I've done it myself.

HP - I have a TDA account that didn't allow me to buy SNRY for quite awhile before the R/S. I never followed up on the reasoning. They do allow me to put in a buy for SNRYD now. My shares with TDA are still under SNRY.

hmm some aggressive buying in the last few minutes ... news on the way?

I'm with you, Buck, I fully believe it's a private company going public. I just can't think of a good reason for most of what has gone on here-- not the least of which is the R/S that just occurred-- if SNRY was just going to merge with a company that's already public.

Has to be referring to this, right?

http://sccommerce.com/news/press-releases/solar-energy-initiatives-inc-brings-jobs-and-solar-economy-south-carolina

That article, in conjunction with the statement "The company is in negotiations with another company to fulfill its obligations." would seem to confirm they are in fact in negotiations with a solar company.

I agree - I think the odds are still in favor of solar.

My current theory is "the assets of an Internet marketing firm" has nothing to do with the incoming company directly, but it is related to establishing a web presence for the incoming company. We shall see soon enough, although not soon enough for some people on here it seems :)

GLTA

Relax, there are often delays in closing a business deal for any number of reasons. Per the 10-Q, a definitive agreement has been made.

I assume your questions were meant rhetorically-- Snizzle copy & pasted verbatim from the 10-Q so if you want more details, you'll have to contact the company (who I doubt will tell you more) or just wait.

I want to be clear here. I like the product, and I think there is tremendous potential.

This website though is hands down one of the worst websites I've ever seen. I cannot imagine how it is an improvement on anything. I am quite familiar with web development and assure you this could not have taken more than a few hours for a moderately skilled developer to throw together. Most of the pages are blank, the pages that do have content are not formatted to display properly in different browsers, there are typos, the site navigation is completely flawed, and the color scheme is terrible. If I was managing this development effort, I would never in a million years release this to production "as is". In a massive understatement, this needs a LOT of work. They would probably be better off just starting from scratch to correct some of the fundamental design flaws.

I'm pretty new here. Traded BORK a little last summer and bought some shares again today. I don't really know the background on the website, but I'm confused. the site you linked is the "new" and "improved" site?? Please tell me you're joking.

AFSE only had six months to exercise the option on the other 6% of the Princess Concession. The cost of that 6% increased over time from $240,000 within the first 60 days after the contract was signed (9/12/11), to $340,000 for the period 60-120 days after contract signing, to $500,000 for 120-180 days after the contract signing. It's not clear if AFSE did exercise the option, but that six months has expired. From the 3/1 PR by AFSE, they had not exercised the option yet, so if they did, it would have been in the last 10 days before expiration and at the $500,000 rate.

They have until 9/12/12 to exercise their options on the Paradise Concession and can do so in 5% increments (up to 15%) for $120,000 per increment.

You can't compare the PPS between companies with different share structures ...

Based on this 8-K from AFSE, they bought shares of Treaty Belize back in September:

http://www.sec.gov/Archives/edgar/data/1103384/000147124212000249/afse_8k.htm

Not sure I'm following you on this post. AFSE bought 4% of Treaty Belize several months before the oil strike. This wasn't something that came about after the GOB refuted the oil strike claim.

I agree that the contract with RedRock is absolutely politically motivated. When you watch the video from the conference, York essentially stated this flat out. TECO selling Princess 50% equity in the Paradise concession is about both money and politics IMO.

This extension gives them until April 5 to file the 10-Q.

20 business days after March 7 is April 4.

My guess is that's not a coincidence.

Honestly, I think if you step back and look at the chart from a 12-month view, you'll see most of your concerns addressed. The average volume has increased, and we have a stock that is steadily trending up. Of course there are peaks and valleys along the way, for a variety of reasons. Keep in mind, it wasn't until Q3 that this company had ANY oil production. Now TECO is drilling its first new wells (in Belize and Texas). This will lead to increased production which is really the catalyst you're looking for to see continued appreciation in the PPS. TECO has come a long way in the last year! That's reflected in the over 600% gain it's realized. This story is LONG from over though and TECO still has a long way to go. It's exciting times to be be accumulating stock in this company. Let's be patient and enjoy the ride!

IMO until we get news, it doesn't make much difference if we get our shares converted. I would guess it will happen within the 20 days of the R/S. But maybe it will be longer. Having been in this since last summer, waiting a little longer at this point doesn't matter much to me.

I would be very surprised if we don't get a symbol & name change. I definitely think that is related to the shares not being converted yet.

Go SNRYD

I welcome all news as well, as long as it's not old. Reposting old news clutters the board and is a turnoff for many investors because it comes across as pumping. We don't need either. TECO is very capable of standing on it's own. If we want to draw more attention, let's mention TECO on other boards and have meaningful discussion here rather than reposting old articles.

You can get the production numbers on the TRCC website.

I expect to see the production numbers increase nicely as the new wells get drilled, work-overs continue, etc. Based on the latest PR though, it sounds like we won't see increases from the new wells until the April #s. I hope to see some improvement from the work-overs prior to that.

I have shares with TDA. They're still listed under SNRY, old share count etc.

I have accounts with TDA and Etrade, both of which allow me to put in buy orders for SNRYD.

My suggestion to everyone who holds a position is to sit back & relax. I have a feeling we'll get some answers before the 20 days are up.

ding ding ding

I'm sitting back and ready to enjoy the ride.

Eh, personally I hate buybacks, as there is almost always a better way to use the money. I'd rather see TECO put the revenue right back into growing the business, especially at these early stages of the company. Revenue could go to buying more equipment, expanding drilling faster, building a Belize refinery, potentially some M&As, etc. Since they are hitting up against the A/S, buying back some shares wouldn't be the worst thing in the world, but I still think there are a lot better uses for the money at this point. Just my opinion.

Agreed- there may well be a R/S when there is a steady revenue stream to support such a move so that it can get uplisted, attract more attention, etc. I do think we need a solid revenue stream first though, so I don't see a R/S occurring in the near future.

Well, all I'll say is that this is the only penny stock I'm in where all of the insiders own this much common stock rather than having preferred shares. That makes the risk of them doing something to sabotage the PPS pretty minimal. Between that and the PPS trend over the last year, I'm not sure why anyone would be worried about a R/S at this point.

Everyone affiliated with the company is heavily invested in the common shares, including Andrew Reid. TECO isn't going to do anything that would negatively impact the PPS for common shareholders.

The great thing is Reid personally owns over 14 million common shares, so we know he won't do anything that will negatively impact the PPS.

$TECO

Princess just entered into another joint venture with Treaty. It looks like you were incorrect that the relationship was strained. Erase the risk from your list.

I'm interested to see the terms as well-- we should see an 8-K next week.

Keep in mind, this is for the Paradise Concession, where Treaty did not have any existing partnership with Princess. There will be a lot of costs to explore and drill over 2,000,000. Yes, they could have funded things through the profit from the Princess Concession, but this allows them to get started much earlier. For shareholders the obvious benefit is we will see profit sooner, because revenues from the Princess Concession aren't going to have to just get dumped directly into costs for the Paradise Concession.

Do you have a link to the filings you're referring to? I don't see anything on EDGAR since the 3/1 filing.

For a straight R/S, I agree.

This is a R/M play as well though and the belief is the R/M news will be out shortly. Obviously when a new company takes over the shell, any past PPS are irrelevant. So in that vein, the R/S isn't a factor like it is when a company does a R/S just during the course of normal operations.

I would put money on us seeing a ticker & name change before the 20 days is over.

From my experience, every broker handles these things differently and even if one broker may handle it differently for different companies. I've used TDA primarily in the past and after a R/S or R/M I've sometimes not been able to buy or sell, and other times I could only buy or only sell. Right now my shares with TDA haven't been updated to reflect the post-R/S share count and are still listed under SNRY. All good; I wouldn't even begin to think about selling at this point. Things are about to get very interesting!

Nothing on TDA has changed yet (ticker, price, share count, etc). They always seem to be last to change things over.