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Reporting obligations because of Securities Act registration
Once the staff declares your company's Securities Act registration statement effective, the Exchange Act requires you to file reports with the SEC. The obligation to file reports continues at least through the end of the fiscal year in which your registration statement becomes effective. After that, you are required to continue reporting unless you satisfy the following "thresholds," in which case your filing obligations are suspended:
your company has fewer than 300 shareholders of the class of securities offered; or
your company has fewer than 500 shareholders of the class of securities offered and less than $10 million in total assets for each of its last three fiscal years.
DOES IT APPLY to SIOR
Thanks for the answer, I read some of that, it is pretty dull reading so this is really just conjecture from what I did read.
If the reason the SEC can revoke a security is based on reporting requirements, then I think SIOR should be fine, without checking to back up anything, it seems to me that SIOR also falls under the category of Suspension of Reporting requirements. (please correct me if anyone knows this to be different or if I am interpreting that part incorrectly).
In my mind, I do not see that the SEC can do anything at this time and I am certain that the management at SIOR has all their ducks in a row, they are not stupid and will file when the information is allowed to be released.
Go SIOR
And from Wikipedia,
OTC Pink is an open marketplace that has no financial standards or reporting requirements. The stock of companies in the OTC Pink tier are not required to be registered with the SEC. Companies in this category are further categorized by the level and timeliness of information they provide to investors and may have current, limited or no public disclosure. OTC Pink securities range from shells and highly speculative development stage companies to international names.
Maybe I am just thick and don't understand what you are saying but what information of SIOR which entices investors to buy or scares them into selling is not of public record? which therefore would not have nothing to do with insider trading. Everything I have ever based my decsions on are based on verifiable information, one just has to look and pay for it.
This is the definition of a pink from the SEC, so am I just not understanding? Last sentence indicates the SEC does nto regulate the activities, so how can there be any issues?
The "Pink Sheets" The Pink Sheets — named for the color of paper on which they've historically been printed — are listings of price quotes for companies that trade in the over-the-counter market (OTC market). "Market makers" — the brokers who commit to buying and selling the securities of OTC issuers-can use the pink sheets to publish bid and ask prices. A company named Pink Sheets LLC, formerly known as the National Quotation Bureau, publishes the pink sheets in both hard copy and electronic format. Pink Sheets LLC is not registered with the SEC as a stock exchange, nor does the SEC regulate its activities.
SIOR is an OTC Pink,, it is an awesome risk.
For an explanation of what the stop sign actually means, see below and make your own interpretation. My interpretation is that this is a risk worth taking.
OTC Pink No Information (with a STOP Sign)
Indicates companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or OTC Markets Group. Companies in this category do not make Current Information available via OTC Markets Group's News Service, or if they do, the available information is older than six months. This category includes defunct companies that have ceased operations as well as 'dark' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.
Of course you understand that I did not delete your post; No where does it actually say it is ocurring, only that there could be a possibility of it. It is all interpretation and clearly it does not say it is happening for a fact, it could be happening but it is not really likely based on the DD that has been done by board members here.
It reads as follows,
Warning, this company may not be making material information publicly available, that is a true statement.
This is followed by the explanation of what the law is, no where does it say that there is in fact insider trading. I suspect that is why your post was deleted.
That statement has been there since they put the stop sign on it, it means nothing. This is a risky stock with potential to be highly profitable. Nothing to WOW about at all.
Use these to see for yourself, these are the active Logan county wells.
Get the info for the second link here
http://www.occpermit.com/WellBrowse/Webforms/WellSearchResults.aspx
And then go here. use the Sections part and the drop down menu to oil leases.
http://okcountyrecords.com/search.php?county=042
I just finished reviewing Oklahoma County Records for Logan county oil and gas leases and the information I got from it while still being a cheapskate is very encouraging. What I see are active SIOR leases being utilized the that way they should be, as late as 12/2011. Clearly they have the necessary means to move forward with their endeavors.
Go SIOR
Yes, much thanks to those folks.
Clearly a fully reporting company is no better than one that never reports, I was going to buy here but watching for two months, I am not impressed.
BTW, I was not being an impatient seller, just a poor one who needed the money, I found a better way, life works out.
GO SIOR
Appreciate the information very much Geo. Knowledge of how things work really is powerful. What you SE, WCD and a few others provide in various different aspects of the industry knowledge is so valuable.
I still have every share and find it is much easier to accumulate more than it is to sell em when the pps drops, I've cancelled sell orders three time recently and just bought more instead, thank you to all the impatient sellers.
GO SIOR
In SE's post #7210, points 6 and 7, can anyone elaborate or provide an educated guess what that 6% would equate to in dollars and thus share value. I am sure it depends on many factors, such as number of wells, bpd, number of shares etc. Since the scenario outlinded by SE appears to be a worst case scenario that is agood place to start.
Thanks in advance
GO SIOR
Like button pressed.
Go SIOR
Don't feel bad, I did the same thing. Got corrected pretty quick too, so sad.
Go SIOR (preferably up)
Thanks, I thought I read it before, 2006 does sound correct.
I wonder if that is from this year, it looks very familiar and I can't find it on the PR website in the last 180 days. 2007 maybe, before Dan Sr passed, no year listed on the report.
It would be very awesome to be wrong on my part though.
I would buy more SIOR at these prices if I had the extra cash to spend, sadly I do not right now. The fundamentals have not changed that I am aware of, the DD I have done and which has been shared with me, has answered my questions for the most part. SIOR clearly indicates on their website that they do not assume any obligation to update any information.
I have been doing my DD on at least 5 other companies that are all being touted as the next great oil thing and I can find plenty wrong with each one of them. I will just stay here as it makes the most sense to me.
Obviously he was in the wrong industry the first time but how does his personal life affect anything in SIOR.
I am dissapointed with SIOR's lack of communication to say the least but I do not understand how Mr. Keenans past affects his ability to be in this current position, it makes sense that his father would get him on at SIOR, that is what fathers should do unless the guy is a convicted rapist, child molester, murderer, or has something to do with SEC fraud.
He obviously has the capacity to learn his new position.
I wouldn't vote for him if he were running for president but he is just IR at a very small non reporting O&G company with unknown assets that does not communicate with its share holders for reasons we can only speculate about.
How can an OTC pink Like SIOR get delisted?
This is from the SEC website regarding OTC pinks and according to what I find from the links on the SEC website that direct me to the OTC site, this comes up as pink, so it seems this is an OTC pink.
Just asking.
Pink OTC Markets, Inc.
Pink OTC Markets, Inc. operates an electronic inter-dealer quotation system, known as Pink Quote, that displays quotes and last-sale information for many OTC equity securities. Pink Quote does not require companies whose securities are quoted on its system to meet any eligibility requirements. With the exception of some foreign issuers, the companies quoted on Pink Quote tend to be closely held, very small and/or thinly traded. Most issuers do not meet the minimum listing requirements for trading on a national securities exchange. Many of these companies do not file periodic reports or audited financial statements with the SEC. As such, it may be difficult for the public to find current, reliable information about companies quoted through Pink Quote. Pink OTC Markets, Inc. also offers two voluntary services, OTCQX and OTCQX International, for companies meeting certain minimum criteria. Companies qualifying for OTCQX or OTCQX International may have recently been delisted from trading on a national securities exchange, or may be listed on a foreign securities market but not on a U.S. exchange.
Thanks
Trying to get educated, isn't 192 BOPD a very small amount and doesn't the rate drop from initial production quite quickly? How about gas?
I own another penny oil stock, bought it on a whim with little educational knowledge and some DD, so far it has made me money, will it pay off? I don't know but I am looking at other stocks and these questions come to mind.
So if a screwed up son posts on his FB page that he is a VP with SIOR but SIOR does not indicate that he is in management, what is this about?
Lease records are public records, should be pretty easy to verify if one was so inclined.
Ooops, dumb girl read it wrong.
not the first mistake I have ever made and doubt it will be my last.
I have posted that in my family secretary's and receptionists were instructed to never provide the information of who does or does not work there, your evidence is still just speculation.
Checkered past, everyone has those.
Hysterical.
Ultimately, Andy got the best of the warden.
I have been thinking about the whole Cactus Drilling thing. This is just my opinion, nothing more than a possible reason, period.
My grandfather instructed his secretary and receptionist never to provide any information of who worked for the company unless they first screened the caller and determined it was official business. He provided a completely unlisted business phone number that he gave out or gave his secretary permission to give out only to business associates. She was diligent in this for 25 years, never giving out information, that is what she was paid for.
With the above in mind, I do not find it at all unusual that Dan would remove Cactus drilling from his Facebook site, or that it would be unusual for anyone in the company to say he has no association to them. If it is bogus, then leaving it on the professional site would do far more harm to his reputation than Facebook would in the Oil business world.
I don't really feel like anyone disproved anything about Cactus, maybe brought up some questions but I do not believe it was disproven.
Just my opinion.
Not the same company.
Characteristics of penny gold mining scams:
1. They continually say their property is adjacent to some past producer. Nearly every scam I've encountered says this. Sometimes they're right next door and in other cases they're many miles away. Doesn't matter--it's a big red flag.
I believe they are next to current producers.
2. The company was formerly in a completely different business.
Superior Oil and Gas has been here a while, they had other businesses but have always been in the oil business, this company was not started by Dan Jr.
3. Reverse split history followed by company printing--for themselves--to pay debt.
I’m not stock saavy but where does this apply?
4. Little or no cash in the bank, but plenty of debt on the books.
How do you know they have debt, maybe cash flow there are no filings, as if those really matter.
5. Dilution, dilution and more dilution.
No evidence of this at this time.
6. Outrageous, fantastic $$$ promises of resources and production....always unverifiable.
No outrageous claims have been made by SIOR, they don’t share info, just yet but have made no such claim.
7. Claims that they will be 'bought out' by majors. All explorers heavily tout this.
I have not seen this claim either, it does not say that in any information put out by the company.
8. Claims of ridiculously huge financing packages that are not verifiable.
Have not heard about this yet either, there are no filings.
9. Claims of unusual and proprietary methods of finding gold. Yeah. Right. Some podunk pink has a new technology or approach to find gold that the majors haven't figured out.
Horizontal drilling is not an unusual proprietary method, the big boys are using it.
10. Laying down a grid and doing a grab sample. The cheapest way to collect material for assays. They're almost always a bust, but heavily PRd. Real miners drill. They don't just pick up surface rocks.
Have not heard about this with SIOR either.
11. Drilling, but drilling is slow and stretched out over many months or even years. String investors along and keep them waiting while they dump shares. Real miners use many drills and make 100s of holes for the assay report. They're on the case if they have gold.
This stuff takes time, they have only said they will drill, I think Geo was correct, they changed course for the better a few months back. That takes time.
12. JVs with other loser mining companies with similar low balance sheets and heavy debt. Always heavily touted with fluff PR, these relationships go nowhere.
Nothing says they will have a JV from the company. No PR so no fluff can’t be heavily touted.
13. Frequent LOIs and claims of acquisitions that go nowhere. Skipping from lease to lease.
Very infrequent claims and no one so far has shown that they are untrue, I know t this kind of info can be researched in the public records if one knows where to look.
14. Leasing a small amount of worthless moose pasture many miles from roads or electricity and then touting it as having endless possibilities. Just because the property is hard to get to doesn't mean it's more valuable. It means it's less valuable because it's more expensive to develop!
No evidence of this that has been shown
15. No QP on staff and, in fact, many times the CEO has little or no mining experience. They depend on contractors...usually paid for by stock that gets promptly dumped.
CEO grew up in the oil business, it would be very hard not to if your father is doing it, that area is nothing but oil. (sorry I do not know what QP stands for)
16. Gimmicks such as stock dividends--because they want to 'reward' loyal bag, er..stockholders. Nothing is ever free and these crooks are there to steal YOUR money--not give you theirs. There is no such thing as a free lunch.
No stock dividends or splits that I have heard of with SIOR
17. Using touts of world events such as 'central banks are buying gold,' or gold prices will continue to rise exponentially! None of this matters since these companies have little or no gold in the ground and will never produce a single ounce. They sometimes name big institutions or organizations to trump themselves up even though they have nothing to do with them. (Name dropping).
Just some informational videos and conferences for what is going on the area.
18. Including other precious metals into the mix--especially the platinum group metals. These metals are very rare and if a pink mentions they have them with gold...be very suspicious. This goes for diamonds as well.
Oil and Gas.
19. Gold miners that claim massive 'rivers of gold,' but continually run into problems getting it. I'm talking about placer gold here. Lode gold requires a lot more equipment and is vastly more expensive.
Have not started that we know of so no problems getting it so far.
20. Cheap-looking, generic websites with stock photography showing lode mining, miners with helmets, giant trucks, strip mining, crushers, flotation, concentrators, etc--even though the company is exploring and not mining. They are counting those who know nothing about gold to buy their freshly-printed shares.
Lots of folks no about oil and gas, nice website, pictures of their wells. Can check with the Oklahoma Commission for that.
21. Taking advantage of gold fever and economic headlines: Claims their stock will rise as gold rises--scaring you with inflation and economic meltdown while also hinting that their stock will rise faster because it's cheap. Again, many of these pink sheets won't rise at all because they're printing and not mining.
No claims of rising stock prices by the company.
22. Any penny gold miner in an obscure location on the other side of the word should be given extra-careful consideration. Especially those in Africa. They can make any sort of BS up and it's even more difficult to verify. Any property in Canada should be carefully considered. The land mass is huge and there are endless claims--and a lot of the gold on those claims is weak.
In the heart of the Mississippi Lime, not a remote island. Can be verified by county records, OCC, lots of places.
23. Penny gold miners are known to be the most prolific in terms of scams because the crooks know people are easily dazzled by the yellow metal. Gold appeals to investors' greed more than any other commodity or industry. This is why scams are most prevalent with penny gold miners.
Does not seem to apply here,
24. Penny touts or stock gurus pushing the stock. These people aren't doing you a favor by sending you an exciting email with exclamation points and ALL CAPS. They're not your friends and you aren't getting some sort of 'privileged' information. Whether paid or unpaid by the company, these outfits are ALWAYS and I do mean ALWAYS wanting people to buy so they can sell. That money is for THEM. They want YOU to cough it up to them.
SIOR does not do this that I have seen, never got one of those emails.
25. "Management" consists of the CEO. Often with no photo or little information about it. Instead you get copious talk about the 'team' or qualified people or backers that go unnamed. RUN when you see this on websites. They don't want to be named because they know it's a scam.
All members of the team are named, they do not hide.
26. Using padding such as unnecessary glossaries on the site--showing mining terms and definitions. This filler is designed to make themselves sound like they're actually doing what the glossary lists. Nope--just another red flag.
I like to know what I am looking at, this is helpful information in the educational section, I learned alot and sounds like that is what they will be doing.
27. History of broken deals, unexplained losses of property and dead ends. They swing from PR vine to vine and leave shareholders hanging from them.
No swinging vines, no PR.
28. HUGE OS/AS that is ignored while a 'low float' is touted. Those low floats NEVER stay low for long!
Not so huge,
29. Touters who want you to have 'strong hands' and buy 'cheapies' as the company dilutes. They always get cheaper as the share price often plummets to no bid/.0001. The best thing you can do is get out right away if the stock behaves suspiciously.
No evidence of dilution
30. Persistent claims that the company would do great if it weren't attacked by shorts--naked and otherwise. Also, if you read about an impending 'short squeeze,' it's almost always a red flag.
What company would’nt
31. Charts show a story of pump and dumps.
Can’t comment here, don’t watch em
32. Property is on untenable land that can't be developed due to environmental concerns and red tape.
We don’t know where the property is,m there are no PR’s so Does not apply
33. Salting. This is criminal and geologists will rarely do it, but it happened in the BRE-X case.
DNA
34. Buying an old, worn-out mine and touting that it will spring to life with higher prices. Wrong. It often takes countless millions to bring such a mine up to MISHA and EPA standards. The mines were abandoned because the cupboards were bare. These mines are often flooded. They were abandoned for good reasons besides low gold prices.
Drilling sideways from an existing hole, not the same.
35. Cheap spectrographic machinery and magnetic flyovers and other such gimmicks. The only way to really determine if an ore body there is drilling and assaying.
Drilling in known oil fields where proven oil deposits are in the shale/lime
36. No reply with email or phone call. The home office might be a PO Box or some home residence...or generic office shared by other scams.
SIOR talks to some people.
37. Many changes of management/CEOs, but the game plan is always the same. Fluff news then print!
Management passed on, needed new management to replace them.
FINRA’s Investor Alert cautions investors to be on the lookout for any pitch for a gold investment that:
Are there FINRA alerts?
Claims to tie stock performance to the general rise in gold prices – a rise in gold prices does not guarantee a rise in the price of a gold company’s stock;
Uses scare tactics such as the threat of inflation or an economic meltdown;
Makes speculative claims based on a new reserve’s proximity to an existing reserve; or
SIOR does not talk about their stock performance, they have made no speculative claims. No PR
Centers on a company that has changed its name or trading symbol to align it more closely with gold – for example, one company that currently purports to engage in gold mining was originally incorporated to provide golfing opportunities on private courses to nonmembers.
Have always kept the same name once they became SIOR.
#30 is the only one of those that even applies here, if you would care to compare each point to what is going on in your mind with SIOR, that might be good. I do not see it there, can you clarify the comparisons?
Does anyone find it interesting that a Devon oil video is on SIOR home page? It makes me wonder if there is a reason for that. The last Cramer video mentioned SIOR and this does not so why post that on the home page. Also interesting is that they say nothing about where/what they are doing on purpose.
Any thoughts?
Last week when I posted that, Screaming Eagle said it is not the same company. Several people were starting to look into it, before SE stated it was not.
With all that goes on, I never know for sure any more. I am keeping all of my shares tight in hand.
That is an awesome answer, could not agree more. Still have every one of my shares.
Go SIOR
I Love this reply.
Go SIOR
Did not check the pps before I posted last, I actually do have a life outside of I hub and thank God for that. Nice close without losing traction.
SIOR just moves in it's proper direction. Go $SIOR
Pay no attention to that man behind the curtain.
I actually was the one that posted initially that the Linked in profile showed all of the businesses he was CEO of, at the time, I copied and pasted the resume, it also said that he was with the International Energy Operations or some similar language, as the CEO with Cactus, it was in small letters and at the time, I had not figured out how to post links, (like it is hard or something) so that part did not show up in my post but I told everyone where to see it.
Then of course everyone started searching more, though the webpage already mentioned Cactus pretty much as it does now.
I know that at some point earlier by a couple of months, Trinity, who has been holding a long time made a statement which was something along the lines of "we need to look into SIOR and who they have had a long standing excellent relationship with and their ties. I took the post to be cryptic and positive but the poster did not elaborate at all. It remained a mystery but after I saw the two Cactus connections, I always have wondered if that was who the relationship connection.
From that point, the rest is DD on however anyone got it.
I know I made more than three post yesterdy, I m not a paid subscriber. Maybe just lucky.