Exposing the BS!!
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"Next week"
Lol... Wow! They are such a joke! #ReleaseTheBradfordFinancials
Originally, the Bradford Project had 7 existing wells and planned to drill 14 new wells for a total of 20 producing wells and 1 injector well.
If you calculate the cost to drill each new well to be $50,000: 14 wells X $50,000 = $700,000. If roughly 2 million dollars was put into this project and the project has no money what happened to the remaining $1,300,000?!?! Maybe thats why CEGX's "general and administrative" expenses were annually north of a 1 million dollars? If CEGX management and employees weren't being paid and subsequently quit, who or what was sucking money through "general and administrative"? Someone has some major explaining to do.
In the 8K he is only listed as a temporary 3 month consultant/outside CFO. Why? They did not do this with any of the other management. Seems strange.
I agree. Everyone on this thread must look up Stan Ford, Paul Carlisle, John May and Tim Crawford's resumes and previous business ventures. None of them are successful businesses. Majority of the businesses they ran or started are shut down, don't have websites or other info, went bankrupt, spent million of dollars on nothing, don't make money, or are worth $0.0002/share on a penny sock board. They tout themselves as big business guys when in reality the only thing they are good at it starting businesses, raising a bunch of money and running our the backdoor a couple years later to the next business venture.
The fact that they refuse to respond to shareholders to have a simple conference call tells you everything you need to know. The management says they cannot have a meeting because everything is "top secret" which is a bunch of garbage. Yes, they can have a basic conference call to introduce themselves, to tell investors their intentions and what their next step is to pull CEGX out of the sewer. We are not asking for "top secret info".
Haha! #Facts
What? You think the filings are done?
Agreed! If the new management are scammers like Crawford and previous management why on earth would they jump on the CEGX dumpster fire with SEC investigations? Even if they are not scammers, why would they jump on board with a company with so many red flags? I wouldn't touch it with a 100ft pole. It's really bizarre and makes no sense. I'm not sure how Crawford got these new guys to jump on the sinking ship and then he gets toss to the curb. Lol
Agreed. Majority of people are looking for the price to pop up to get out of this mess. Its going to be a fire sale. No one is looking to hold this stock long term especially since Cardinal is not reliable when it comes to deadlines, doing what they say or keeping their word.
Agreed. If CEGX plans on actually doing something legitimate at some point in the future I'll believe it when I see it. In order for that to happen, they need to remove their heads from each others buttholes and stop lying month after month after month after month. According to CEGX management, the stock was magically going to be $1-$2 in November. That is the lie they were telling investors. Lol! Fast forward 3 months later... the stock is still in the toilet, the financials are not current and no PRs have been released. For the past 7+ months we keep hearing "by the end of the month" and nothing happens.
Can anyone spot the repeating pattern???
That sounds about right. CEGX managers make sure they pay themselves upfront while all of the investors get hosed. CEGX's inability to finish a project or close on financing for any deal is astounding.
Investor's patients is running out. Most of us have been waiting for CEGX to do something for months and months. Some investors have been waiting for years. What is CEGX's hold up now? They always have an excuse.
Sounds like bad news if Cardinal won't announce "news"? I bet the news is CEGX raised a bunch of money, stole it for themselves and are closing shop because they didn't raise enough money? I bet their filings and PRs will be delayed as usual, since they can't meet a deadline to save their lives.
Calculations? What are they calculating? The financials that should have been done last summer?
Sorry for the confusion, I don't know any details. What I meant to say is those leases are essentially a collection of non-compliant trash wells. I wouldn't be surprised if CEGX told Guy Julaine the leases are a hidden gem... the best thing since sliced bread and therefore screwed him over. Since that is the trend of CEGX's method of operation. The whole thing seems really odd.
Guy Julaine got screwed over by CEGX.
What is the name of the new operator that CEGX and EOI transferred all of their junk leases? The TRC website is not very user friendly.
CEGX said they are waiting until "At least January". Lol!
AKA "We are so incompetent and horrible time estimators that we cannot stick to a deadline to save our lives".
This is easily the 20th time (conservatively) I've heard them tell investors PRs and financials will be done by XYZ time frame.
Well because we are tired of lies and broken promises. You can't honestly sit there and think CEGX is a great all around company. They have screwed over lots of people and essentially stolen or intentially lost money on behalf of their investors. I hope one day they get their sh*t together, but until that day comes the company is a pile of garbage run by con artists.
It seems like everything they are involved in barely makes sense or is shady as hell. They keep trying to brush their mistakes and gross negligence under the rug hoping it disappears. I could see them setting up some BS operator for the purpose of transferring their garbage assets. Sooner or later its going to catch up to them. They have millions of liabilities chasing them: The Bradford investors, various lawsuits and trash leases/wells they keep trying to push off their plate.
I won't believe any of these rumors of CEGX being the next zillion dollar company until they actually happen.
Why do you think EOI would transfer 2 leases to CEGX? TRC banned them from producing until wells were brought into compliance. Also, who would take over the leases and assume the large liabilities assisted with the garbage leases? The leases seem to be a giant money pit and I don't see why anyone would willingly assume the leases. How they could anyone their money out of them, unless they want to use them for large tax write offs?
Actually, I'm shocked!! I never saw this coming!!! How is this possible?? Tim, Dan and Stan told me it would happen this week!!!!
"At least January" Lol! God CEGX is such a joke! Wake up people! News flash... creating financials for a tiny company doesn't take months and months and months. There is only two possible reasons for the delay in financials 1. They cannot pay the CPA or 2. The CPA does not want to sign of on fraudulent filings. CEGX is not Exxon Mobil with billions in assets. Any competent CPA would have the filings completed within 2 weeks. Stop believing their lies!
No one is attacking you. We don't understand why you think CEGX is the next Apple of oil and gas. The amount of incompetency and lying from CEGX is astounding! What a surprise CEGX now will not have filings or news before the end of December... What a shocker! We never saw that coming!
I have no clue what they are doing except persuading investors to invest in their stock / garbage oil projects and letting them tank. Apparently, this time they have it right and they are going to be the Amazon of oil and gas.
The surprise is:
CEGX management is giving themselves raises for working so hard.
After filing manufactured filings, CEGX stock price will magically become 2-3$ just because they said so.
Thats how CEGX operates. They barely communicate, give vague answers and act like the are tied up in back to back to back to back to back meetings all day every day. Everyone knows thats not true.
True or False? Everyone was jumping down with excitement October 18-20th stating big updates will be revealed in 1-2 weeks and CEGX will be worth at least $1 per share by November?
CEGX keeps moving the field goal posts. Why does everyone keep giving CEGX a free pass with their lies and horrible time estimation? I've heard all of these statements dozens of times over that past couple of years. Why should we believe CEGX this time?
They have plenty of money to shell out thousands of dollars for a new office, employees, attorneys, but no money to update investors! Haha!
Thats not even believable!
On the bright side, only 5 more "next weeks" until major news and a stock price of $1-$3 per share? This is coming only 10 weeks after CEGX lied to investors about releasing a PR on their FB page. Also, after receiving a negative response from agitated investors CEGX proceeded to shut down their FB page.... because thats what quality companies do!
What are the odds we will still be having this conversation the last week of December?
I'll help you out... The stock sucks it's a POS!
"Next week" "By the end of the month"
They have been saying they will have updates and will be current "by the end of the month" for at least the past 6 months. Their response is always "next week" or "by the end of the month". They need to get their shit together! Its beyond ridiculous!
Its now been 4 weeks since CEGX said they would deliver a PR! We've had zero updates and the company still is not current. Same shit different week. Don't worry trust us.... CEGX's stock price will be worth $3 next week just because we said so.
CEGX can change their business, but the fact still remains that they are run by incompetent individuals who cannot follow through and deliver on their word.
CEGX... Incompetent? liars? or both?
Oh I’m definitely loading too!!! The stock is guaranteed to be $1-3 In the next couple weeks... nothing to lose!!! Load up!!
Its now been 3 full weeks since someone on Cardinal's FB page told us a press release would be coming NEXT WEEK and we still don't have a PR or current financials. So we clearly are dealing with: Incompetence, Lying or both.
If that was the response Cardinal gave you then I would be surprised if there was a PR before the end of the year. Have they sold any of the Series D Shares? As of a couple weeks ago Stan Ford said the company had zero money.
It doesn't take this long to become current unless everything is a disaster and they are manufacturing the financials(maybe hiding something??). Makes you wonder what the purpose of having a CFO is if he is not preparing the financials in a timely fashion to give to an auditor. I know companies that have sales 50-60 million annually. They bring in auditors every year to audit all of their companies and it only takes them a couple of weeks max. So whatever excuse Cardinal is giving is garbage..... its been months and months and months!!! They are lying, which seems to be a common trend!
My 8 year old nephew could do better than Cardinal's management! Its pretty ridiculous they won't put out a FREE simple statement on their Facebook page letting investors they are still alive and are working on X,Y or Z. It makes them look guilty / incompetent when they hide, won't update investors and lie to investors when filings / PRs will happen. Its really sad!
I hope you are right! It would be nice for once if CEGX would actually do what they say they are going to do. They have a history of doing things half assed or not telling investors the whole story.
Its been 14 days (Oct 18-19) since whoever was running Cardinal's FB page (probably Tim Crawford) and people on this message board said a PR was going to be announced within 1-2 weeks. It didn't happen last week or this week. The filings still are not current, which Tim Crawford claimed they would be done a month ago. Way to keep investor interest.... by lying....well done!! I guess there is always "next week".... right???? How RIDICULOUS!