Creede, nice get on the Baby Bulls blip. It may inform more folks about our little monster in embryo. I think the Rumpelstiltskin method of investing will work the best on this one. Buy and go to sleep on it for a couple of years. Upon waking, the LBWR world will have changed enough that we will wonder what happened.

I see you have another "grateful" admirerer expressing his gratitude for your efforts. Always keep in mind how much the majority of people feel about your constant efforts to educate, moderate, and proliferate on this stock and board.

Thanks for all you do.

Airdale

An excellent article on Naked Shorting IMO in the Salt Lake Tribune. Note the amount of money daily from FTD's at the bottom of the page. Someone is scrapping in illegitimate cash.

airdale

http://www.sltrib.com/ci_3882677?source=rss

Wall Street contests new stock law
Naked short selling: Market regulators debate seriousness of the practice that Utah's Legislature restrained in special session
By Bob Mims
The Salt Lake Tribune



Wall Street's grumbling over Utah's crackdown on so-called naked shorting of stocks resumed Tuesday, with state officials saying they stood ready to defend the law in court.
Overstock.com founder Patrick Byrne, who lobbied hard for the legislation, also said he is ready to fight if the state faces litigation from disgruntled securities brokers and dealers.
"Tell them I said that while they're at it, please sue me personally. [Overstock attorney John] O'Quinn and I are salivating at the thought of crawling through their stock loan operations with flashlights and bolt-cutters," Byrne said.
Believed to be the first state law of its kind, the statute aims at stockbrokers, dealers and investment consultants who fail to produce stocks purportedly borrowed for transactions that include short sales - essentially a bet sold shares will lose value.
Such naked short selling results in "failures to deliver," which can create Related Articles
Huntsman signs bill to curb 'naked short selling'


artificially inflated trading volume that in turn suppresses prices for a company's legitimate shares. Market regulators acknowledge the illegal practice continues, though they debate just how serious the problem has become.
The New York-based Securities Industry Association, or SIA, was unsuccessful in an 11th-hour attempt Friday to convince Gov. Jon Huntsman Jr. not to sign the legislation, which legislators overwhelmingly passed in last week's special session.
"The industry is reviewing all of its options, including legal recourse," SIA spokesman Travis Larson said Tuesday.
The SIA, representing more than 600 investment banks, mutual fund companies and broker-dealers nationwide, had written Huntsman earlier warning that the law could result "in a time-consuming and expensive court challenge."
Gubernatorial spokesman Mike Mower said Huntsman considered the letter but decided the current system of regulating short sales - a frequently castigated combo of federal law and self-regulated, voluntary securities industry enforcement - was leaving small- and mid-cap companies vulnerable to stock manipulation.
Reviewing opposition to the measure fell largely to Francine Giani, director of Utah's Department of Commerce. She dunned the securities industry for arriving late to the debate over legislation first proposed three months ago during the Legislature's general session.
Even during last Wednesday's one-day special session, little opposition was raised until both houses passed the bill one vote shy of unanimity.
"This [late opposition] may still turn out to be a tempest in a teapot," Giani said. "But if not, the courts are out there to decide just what a state can do [about naked shorting]. The whole idea of this was to provide transparency."
Earlier published reports had Zions Bank ready to join the fray, but Clark Hinckley, senior vice president and manager of investor relations, said Tuesday that was not the case.
"We don't have a specific opinion on the bill right now, and there isn't any particular action we plan to take on this," he said. "We do feel it is unusual for a state legislature to pass such a law, in that this usually is a federal securities matter."
Giani said she stands ready to answer any questions about the law but is convinced the statute's goal of better tracking a practice already deemed to be illegal could pass courtroom muster.
Two major brokerages with Utah operations - Morgan Stanley and Fidelity Investments - were non-committal on the issue Tuesday, saying only they continue to review the new law's impacts on their operations in the state.
Overstock.com, a Salt Lake City online closeout retailer, contends that its stock has been driven down by short sales related manipulation. The company is embroiled in California litigation alleging that the Wall Street research firm Gradient Analytics and the hedge fund Rocker Partners colluded to drive down company stock prices through a combination of negative reports and short sales timed to them.
Gradient and Rocker deny the allegations, which also have triggered investigations by the Securities and Exchange Commission.
bmims@sltrib.com

Addressing the issue:

l Utah's new law, in the form of amendments to the state's securities statute, seeks to hold broker-dealers accountable for alleged "naked shorting," an illegal transaction that can create bogus trading volumes that drive down legitimate share prices.

l In cases of legal short selling, stock is borrowed from a broker and sold on a bet that share prices will fall. The stocks are then bought back and returned to the broker with the seller pocketing the difference between high and low prices.

l About 1.5 percent of the dollar volume of stocks traded daily end up as "failures to deliver," exchanges regulators estimate are worth up to $6 billion a day.


http://www.investigatethesec.com/20060531.htm

GILLETTE, Wyo. — Wyoming’s oil and gas drilling rate is the highest it’s been in more than 20 years.
The Wyoming Oil and Gas Conservation Commission reports there were 106 drilling rigs operating in the state in April, the highest number since 1985.

http://www.lovelandfyi.com/Region-Story.asp?ID=5189

"Rome Oil & Gas President, John Barksdale, has engaged P & M Petroleum Management of Denver, Colorado to assist him with the onsite management of the property during the drilling of the initial test well, which should be completed shortly."
No P & M is listed on this years permits.

Petroleum RESOURCE Management has been given a permit but appears to definitely be a different company.

http://wogcc.state.wy.us/adminAppbyComp.cfm?nOpco=1442

Also, no Ideal Energy is listed amongst the permits for drilling in 2006.

http://wogcc.state.wy.us/ADMINappcompany.cfm

Still perusing the permits for info. Does anyone have the township and range for PBLS's Wyoming land lease?

airdale

Wolverine's expected footprint:

http://deseretnews.com/dn/view/0,1249,635168407,00.html

One of my best friends works as an electrical engineer for Kern River Gas Transmission. He had worked almost exlusively in Wyoming prior to this past year. They just completed a pump station in Alberta, Utah 75 miles southwest of Salt Lake City. Looking at the map on the link above, Alberta is almost due west of Santaquin. Hmmmm, gas heads on the edge of the estimated resevoir. The entire paradigm on oil and gas is changing here in the intermountain west. He is getting info that much of their future transmission could be in central Utah and Nevada. One caveat, he has not contacted Mthead for verification of the info he is receiving.

Airdale

Creede, he said that the clients they are enrolling have huge numbers of employees and it takes a very long period of time to fully involve all their departments and sectors. Some clients businesses were more seasonal, hence more or less service would be required during certain portions of the year.

He also mentioned the numbers from the upcoming 10Q would not exceed the prior quarter by a large amount but the quarter following the next report should show large growth as newer clients fully utilize LBWR's services.

We should see an enrollee from the oil sector that is recognized worldwide very shortly, unless they lose their perfect closing record.

Airdale

Lowman, call me crazy but I thought you had a board dedicated to informing people of "naked shorting". I have no problem if you consider this off topic and remove it. I also posted this on another board. It is regarding the Utah State Legislature and Governor enacting a law to combat this practice.

My belief is it will require constant pressure from shareholders such as ourselves to continually place "naked shorting" before legislators and newpapers to educate the public about its inherent evils. The following is a letter I will send to the Salt Lake Tribune and Deseret News after I have checked all facts stated herein. My hope is it will make the editorial page and inform these papers of a depth interest on this subject.

I would appreciate the, serious only, efforts of posters who finds inaccuracies within my statements or who can strengthen the arguments of the text lend their suggestions.

Airdale

http://www.sltrib.com/business/ci_3871061
http://www.businessweek.com/ap/financialnews/D8HRP0AG3.htm?sub=apn_tech_down&chan=tc

BRAVO Governor Huntsman and Legislature, BRAVO!!

Governor Huntsman, Utah State Legislature, Douglas S. Foxley and all who worked to pass Legislation, which applies fines for Trading Irregularities perpetrated by Utah based Brokerages and Bankers and occurs nationwide, I applaud your courage, integrity, and tenacity in facing a well-funded group in the financial sector that are bilking billions of dollars each year from the pockets of investors in this country. This piece of legislation makes Utah the first State to initiate procedures to help curtail these illegal activities. Utah has become the beacon for the U.S. Government and all other states, which to this point have ignored the pleas of violated investors to halt this insidious practice.

If you paid $30,000.00 to purchase a car and the dealership “fails to deliver” that car, the Great State of Utah would prosecute the dealership. You, the consumer would almost assuredly end up with your monies returned or a car of equal value. The dealership would probably end up with a grand theft conviction if either the money or the car were not rendered to the buyer. We the consumer are protected.

In the U.S., you can pay $30,000.00 for an Over The Counter (OTC) stock and if the seller of that stock “fails to deliver” those shares to you after a grace period of 5 days, it is, by law, illegal. What happens when the law is broken? To date, nothing, no fines, no investigation, no interest by the SEC or other agencies. You will be put on a list called the SHO and you can review a published list each week that your security is being diluted and your assets drained. If the Brokerage/Bank that sold you the stock doesn’t deliver your shares, they illegally hold your money and earn interest on it, electronically fabricate additional shares and nothing else happens, absolutely nothing. If they don’t ever buy back the short shares and XXYZ is forced to discontinue business perhaps because of the stresses of Naked Shorting, they keep your money. What did the Brokerage/Banker do to earn that money, they committed theft. We the consumer have not been protected.

When this Brokerage Firm/Bank electronically creates these bogus shares and holds your money hostage, they also harm the company that issued those shares. If XYZZ company market value of $5.00 per share and has one million outstanding shares, the market value of XYZZ is $5,000,000.00. If however the Brokerage/Banking firms naked short another million shares, doubling the share total to two million, the additional shares probably dilute the price to $2.50. This misrepresents the value of the company by 50% and makes it more difficult for XYZZ to acquire loans, (ironically possibly from the very people that diluted their stock), or be listed on another stock market such as the NASDAQ. Legitimate owners of the stock lose half the value of their share value. Plain and simple, this is electronic theft by the Brokerages/Bankers that commit this act.

Tony Taggart of Morgan Stanley plans a lawsuit in an attempt to continue without fines with these nefarious activities. Fidelity Investments, Bear Stearns and Zions Bank are all very upset with this legislation as it will dilute their profit margins. It looks like a legal battle will ensue as the Brokerages/Bankers will have fines assessed when they fabricate bogus shares and dilute the hard earned money of investors. I hope the Salt Lake Tribune will continue to follow this story closely and expose this process for what it is, grand theft by the Brokerages/Bankers.

If your car was not delivered, you’d get justice, when your stock is not delivered, why should it be any different? Utah's legislature doesn’t think it should be, bravo.

All in my humble opinion,
XXXXXX XXXXXX

IHDR, I don't agree with some of your posts but I happen to agree with you on the naked shorting of this stock. I too am happy to see a legislative body get proactive and attempt to stop this practice.

My belief is it will require constant pressure from shareholders such as ourselves to continually place "naked shorting" before legislators and newpapers to educate the public about its inherent evils. The following is a letter I will send to the Salt Lake Tribune and Deseret News after I have checked all facts stated herein. My hope is it will make the editorial page and inform these papers of a depth interest on this subject.

I would appreciate the efforts of anyone who finds inaccuracies within my statements or who can strengthen the arguments of the text lend their suggestions.

Airdale

http://www.sltrib.com/business/ci_3871061
http://www.businessweek.com/ap/financialnews/D8HRP0AG3.htm?sub=apn_tech_down&chan=tc

BRAVO Governor Huntsman and Legislature, BRAVO!!

Governor Huntsman, Utah State Legislature, Douglas S. Foxley and all who worked to pass Legislation, which applies fines for Trading Irregularities perpetrated by Utah based Brokerages and Bankers and occurs nationwide, I applaud your courage, integrity, and tenacity in facing a well-funded group in the financial sector that are bilking billions of dollars each year from the pockets of investors in this country. This piece of legislation makes Utah the first State to initiate procedures to help curtail these illegal activities. Utah has become the beacon for the U.S. Government and all other states, which to this point have ignored the pleas of violated investors to halt this insidious practice.

If you paid $30,000.00 to purchase a car and the dealership “fails to deliver” that car, the Great State of Utah would prosecute the dealership. You, the consumer would almost assuredly end up with your monies returned or a car of equal value. The dealership would probably end up with a grand theft conviction if either the money or the car were not rendered to the buyer. We the consumer are protected.

In the U.S., you can pay $30,000.00 for an Over The Counter (OTC) stock and if the seller of that stock “fails to deliver” those shares to you after a grace period of 5 days, it is, by law, illegal. What happens when the law is broken? To date, nothing, no fines, no investigation, no interest by the SEC or other agencies. You will be put on a list called the SHO and you can review a published list each week that your security is being diluted and your assets drained. If the Brokerage/Bank that sold you the stock doesn’t deliver your shares, they illegally hold your money and earn interest on it, electronically fabricate additional shares and nothing else happens, absolutely nothing. If they don’t ever buy back the short shares and XXYZ is forced to discontinue business perhaps because of the stresses of Naked Shorting, they keep your money. What did the Brokerage/Banker do to earn that money, they committed theft. We the consumer have not been protected.

When this Brokerage Firm/Bank electronically creates these bogus shares and holds your money hostage, they also harm the company that issued those shares. If XYZZ company market value of $5.00 per share and has one million outstanding shares, the market value of XYZZ is $5,000,000.00. If however the Brokerage/Banking firms naked short another million shares, doubling the share total to two million, the additional shares probably dilute the price to $2.50. This misrepresents the value of the company by 50% and makes it more difficult for XYZZ to acquire loans, (ironically possibly from the very people that diluted their stock), or be listed on another stock market such as the NASDAQ. Legitimate owners of the stock lose half the value of their share value. Plain and simple, this is electronic theft by the Brokerages/Bankers that commit this act.

Tony Taggart of Morgan Stanley plans a lawsuit in an attempt to continue without fines with these nefarious activities. Fidelity Investments, Bear Stearns and Zions Bank are all very upset with this legislation as it will dilute their profit margins. It looks like a legal battle will ensue as the Brokerages/Bankers will have fines assessed when they fabricate bogus shares and dilute the hard earned money of investors. I hope the Salt Lake Tribune will continue to follow this story closely and expose this process for what it is, grand theft by the Brokerages/Bankers.

If your car was not delivered, you’d get justice, when your stock is not delivered, why should it be any different? Utah's legislature doesn’t think it should be, bravo.

All in my humble opinion,
XXXXXX XXXXXX

Creede, from a conversation with Mr. Morris almost two weeks back, I wholeheartedly agree on news this week or next. Expectation, one of the worlds three largest oil producing firms will contract with LBWR for drug testing services.

LBWR, positive income the past two quarters, clients from last quarter on board that will provide additional growth as they become integrated and still maintaining a 100% close ratio. We are sitting on the fastest growing firm in the country in this business sector.

Airdale

Wrongjoe, India Oil in all probability can't comment until a finalized deal is completed and PR' for everyone.

There is no country in the world more desperate for oil than India. Next to the Chinese, their GNP growth is in a hyper growth mode. They have lost multiple competitions with China for reserves the past several years. It is all about price right now in tying up future oil production. IndiaOil doesn't have many options and need 1.5 million barrels per day of imported crude and growing. We have to remain an option for them no matter what they are telling you.

AIMHO
Airdale

Low, I have a very good friend that pre-fabricates gas pipe here in the west, including 6 inch diameter. He crimps the end of each pipe to accomodate a coupling and the sections are 20 feet in length. Based on some jobs he has done in the past several years, he said 5-700 feet per day is realistic, without crossing waterways, freeways and other existing infrastructure.

Your 3/4 of a million price in Alabama would seem very reasonable compared to a very expensive Northern California cost structure of $1,000,000.00.

I have placed an email with the Thomasville Times, I will let you know if they reply with any substantive information.

Airale


Mr. Mclean
Thomasville Times

Dear Sir,

In your May 18th edition the Times presented the following information:

CMC Gas will build six-anda half miles of six inch pipeline for CSMG Technologies to transport its landfill gas to Dupont. CSMG will undergo a 30 day test period to make certain it can produce the quality and quantity of gas needed by Dupont.

Can you provide information on when the project starts, what roads will be affected and how long the project will take?

Thank you for any help you can provide,

Cost and timetable of 6” gas pipeline from Chastang to Du Pont?

I posted the following link several days ago regarding pipeline costs. After additional review, I believe the chart on page 24 gives the most succinct cost schedule, a bit less than $500,000 per mile. The UC Davis report appears to be very in depth and was complied in December of 2004, recent enough to reflect fairly accurate costs IMO.

http://www.its.ucdavis.edu/publications/2004/UCD-ITS-RR-04-35.pdf#search='gas%20line%20cost%20per%20...

What is the timetable for constructing a 6.2 mile line. I have made repeated calls to CMC in an effort to ascertain this information to no avail. In lieu of help from CMC, here is an article that details the placement of a 12” line over a seven-mile distance in Montana. Time for constructing this was a 3 month projection. This works out to about 550 lf per construction day.

http://www.achrnews.com/CDA/ArticleInformation/RegionalNews_Item/1,6084,120381-Northwest,00.html


AIMHO
Airdale

Rookie, PE too high on a startup?

Please, show another oil Pink startup with a PE, you have to have earnings to get a PE factor.

Most Pink CEO's/Presidents draw income equal to what NDOL has in earnings......as the company is losing ten times that amount annually.

Most startups on any board don't have reserves, they are looking for reserves or have purchased the rights to some used fields they are looking to pressurize and force out sludge.

Most startups in the Pinks don't put out 10ks or talk of putting out 8k's.

Your firm has a PE and therefore is covering costs, is smart enough to provide service and income before the oil is pumped, has an experienced management group, 200 million barrels of oil, puts out SEC documents revealing their financial and company status. The quality of this stock beats 99% of all pink sheet stocks today.

I hope you have the same "the PE is too high" complaint next year, that share price will be something to behold.

Airdale

You are probably right, I amended that last sentence.

Thanks,

Airdale

Rational, do you really believe that he's wealthy? I sure don't. He may have enough to live on but I really doubt he has any wealth.

When I get a persistent basher on a stock I like, I try to find out if the basher has had any valid successes with their anti-picks to see if they have any substance. If they do, the stock may truly have some problems. So where does our guy rate?

He seems to like to bash successful stocks, BIPH, ALMI, CSMG, and NDOL have all been ten baggers and his posts have trashed every one of them, after they have run. It's all there in his history. He shows up late, after the big explosion has taken place and makes irritating posts to pester the shareholders. No facts are used in his statements. Nothing of fact or substance just trash the shareholders. I owned ALMI, which is still running, and still have some NDOL. He just stated the other day he thought NDOL was a "pump and dump". Well today they came out with their 10K and it reads just like the management said it would. They will merge with India Oil and a Russian group and will get huge over the next several years. Looks like a miss on another winner. He spends every day and more importantly every weekend on message boards irritating decent people like yourself. He does no in depth DD. He was asked about the E.O Paton Institute a while back. Didn't even know what it was. It is style over substance with him, the style, is multiple question marks and exclaimation points to garner attention.

So, in a recap, he bashes stocks that are winners, comes in after the fact, doesn't do research, spends his weekends here and uses a ton of exclamation points.

Does he sound like a wealthy guy to you? I'd say emphatically no. He is simply seeking attention, even if its negative.

In reality if he didn't bother Lowman, his exact opposite, I wouldn't care if he posted his crap here. Lowman is very willing to help others, a hard worker, does his DD, shares his info with us and is a guy I really respect.

If you had stashed away some wealth why would you hang out on a penny stock message board 24/7 harrassing decent people?

Airdale

Lowman, another insightful post by our resident antagonist that reaffirm his continued postings as foolish. In the 2006 Stock Pick contest, we are near the top with a 600% gain. Here are the year’s picks:

http://www.investorshub.com/boards/read_msg.asp?message_id=9088310

Dow, up less than 3% for the year, NASDAQ is down for 2006 and we sit on +600%.

One would think even the challenged could use rudimentary math skills to figure this one out.

It must be very difficult for some.

Airdale

It's all one class of shares, there are no preferred.

airdale

There are some positives, retained earnings changed over 3 million to the plus. They had a positive quarter compared to last year. Now, please tell me how the "goodwill" is a positive on a hard asset firm. Looks to me like a future writeoff.

Airdale

IMO the JV partners sure know far more than do we. There are some major negatives here. Unaudited after letting everyone know we have RSM Top Audit doing our books? Goodwill is one third of our assets from a 2003 Bio-Tracking acquistion and remains unchanged from last year? This from a "hard asset" based firm? We're a Going Concern? To be honest, this is not what I expected. I am not selling here but this isn't exactly a blue ribbon release that inspires confidence.

357 million shares issued to party 1 is as expected, our shares remain exactly the same in quantity and status.

All new information released is as stated by Mr. Parkin.

Interesting.

airdale

Captain Creede, relax my good man and gird up for the long haul, we are going to need your positive vibes to brace us through the hot summer and a cool market.

The large firms Mr. Morris is pitching have multiple layers of management decision makers and represent many egos to soothe before a close. He has also talked of the time it takes to fully incorporate a client into the system after their enrollment , several quarters in some instances.

If there is such a thing as a secure Pinksheet security this is probably the one. Now we must all relax and afford Dexter some time to build Labwire. He'll do his part if we do ours by allowing him some time.

AIMHO
Airdale

Oil is certainly an easy sell but the JV with India Oil may be because India is in such great need of the resource. Importing 1.5 million barrels per day and having had a difficult time locating resources as India has competed unsuccessfully with China for oil may be one reason for this alliance.

It also appears that as Putin stears Russia away from the US and more toward an asian cooperative, India may escape the heavy taxation Russia has placed on oil exports.

http://www.hindu.com/2004/11/14/stories/2004111405920100.htm

According to PetrolWorld, at present, China imports over 30 per cent of its oil supplies, consuming 5.46 mi llion barrels a day (mbd); that's 7 per cent of world demand. India imports a frightening 75 per cent of its oil, using up 2 mbd.

http://us.rediff.com/money/2005/dec/06bs.htm?q=bp&file=.htm

It would be less expensive for NDOL repeat the same shipping steps daily in lieu of changing routines. It looks like a nice alliance.

AIMHO
Airdale

For almost every OTC/pinkie the strategy is accumulate on the dips and sell on the rise. This same MO will be used by many on this stock. I think however we have a growing core of shareholders who are very well educated not only to the immense upside this security holds but also to the extraordinary efforts by management to maintain and grow the value.

Virtually no idea or technology will succeed without proper steering and foresight. IMO we have excellent Management who see the future and a great pathway thereto. Here is a reiteration of some areas wherein Management has excelled:

-As a small unknown firm, recognizing and obtaining two technologies, LFG and LTC, that will play an important part of future life in this world. Those who are unable to grasp the revolutionary nature of these technologies should not be investing.

-Garnering contracts with groups and corporations that are recognized worldwide with respect to size, performance and quality, aka as Du Pont, Waste Management and Algonquin. This area to me is amazing, the persistence and effort to create and close a sales presentation with a major firm such as Du Pont is nothing short of miraculous for a CTUM sized firm verifying that CTUM obviously has the goods.

-Maintaining a staff, facility and constructing a Land Fill Gas Plant on very little funding. They are also securing financing to construct the soon to be announced 6.2 mile line. The contract for construction will be awarded to a municipal firm, the Clark-Mobile Counties Gas District. CMC Gas’s mission statement, “To promote the distribution and transportation of natural gas, which provides a cleaner, safer and more reliable energy resource.” CTUM in essence has the blessing of the local towns and will provide cash infusion to the local economy via line construction, maintenance, transmission fees and aiding Du Pont’s continued presence. CTUM can also sell excess gas to such entities as our fellow pipeline interconnects of Mobile Gas Service, Gulfsouth, Florida Gas, Phillips Petroleum, Exxon/Mobil, Conecuh and Pruett.

-Controlling costs enough to maintain a low O/S number and mitigate dilution. This is the weakest area of Management’s path as the have enlisted a Private Investment Placement Equity via Cornell Capital to secure financing. History has shown they have been very responsible in limiting the amounts of shares placed with Cornell in the past. As LTC and LFG approach a time when contracts will materialize for commercialization and distribution of our product lines, Cornell will fade into the background and disappear.

AIMHO
Airdale

Low, after doing some DD to get some kind of idea for gas line expenses, here is a website that looks to constructing Hydrogen lines and compares NG to Hydrogen and provides some great insite as to cost structures of this nature. UC Davis by way, was a school created to enhance the agricutltural area of the San Joachin Valley around the Sacramento area and is a very highly respected school.


http://www.its.ucdavis.edu/publications/2004/UCD-ITS-RR-04-35.pdf#search='gas%20line%20cost%20per%20...

Cost of materials for a 6” line for about six miles according to this site page two is about $300,000. They have labor listed at about $1,000,000 and total costs under $2,000,000. They detail that the least expensive area to build is in the country. After reviewing several maps available online, this area is completely country with the Mobile River and country highways enroute.

IMO I see this as a very inexpensive project when compared to the plant construction costs.

Airdale

Low, it's a skittish market the last bit. I think many simply want cash and are in panic mode. They are selling without regard to stock quality and sitting on cash until the market finds direction IMO.

Before the "insider news" you gave us Friday, (as insinuated by our resident dunce), several remarked how well CTUM held in a complete market slide. It will be interesting to see how long it takes before CTUM releases the PR mirroring the Thomasville missive.

Airdale

Lowman, the resident fool is insinuating your info came from the company as inside information. He should have kept quiet.

"It is better to be thought of as a fool than to open your mouth and remove all doubt".

It gives you something to chuckle over this weekend.

Thanks again for the early alert, it was nice to get some cheapies.

Have a good one

Airdale

The bulk of the monies listed under Computer in the expenses actually went for the programmer. He said most of this expense was listed incorrectly and probably should have been listed under Professional Fees. The file server was purchased for less than $12,000. Computer expenses will remain about 5.5% of the expenses from now on. Considering how much it will save in payroll costs it will always be money well spent IMO.

Have a wonderful weekend Creed,
Airdale

Creede, actually a bit of a numbskull. Let me clarify, we don't own this facilty. The computer system is housed at a leased location that is off site from LBWR. The lease site is owned and operated by a group that also provides the firewall, coolroom facility, security and backup. Other firms of much higher profile than LBWR including Law Enforcement units are neighbor leasors and also make use this facility. It's magnitude of quality is such that it can used as a sales feature to lure potential clientele. We do own, the new computer system housed therein, and this is new for us.

Sorry about the confusion.

Airdale

Heads, we didn't discuss anything outside of future sales, current financials, the computer situation and the general outlook of LBWR. Well okay, maybe some politics on the side.

I would call him in a heartbeat. He has everything delegated properly IMO and is very willing to provide PR for the firm. Your questions are certainly important parts to this puzzle.

Good luck,
Airdale

Well if it ruined his, I can only imagine what it has done for yours.

I suppose this provides just a bit of payback for all the crap you put up with in dealing with him.

By the way, I posted this several weeks back in an attempt to get the Management to help you out a bit, to no avail. Ignore the misspellings.

http://www.investorshub.com/boards/read_msg.asp?message_id=10980000

Airdale

I believe you are making the doubting Thomas suffer....grin.

I have called twice to talk to Jim Howell, the Super at CMC Gas's Jackson office concerning timeframes and keep getting his "out of office" message.

Here is a link I found interesting. Look at some of their gasline connects at the bottom of the page. http://www.cmcgas.com/custinfo.shtml

Here are their telephone numbers http://www.cmcgas.com/contact.shtml

It appears since all the Mayors in the area are running the business that licenses won't be a problem.

Airdale

Looks like buying under the radar will soon be gone, the cat is out of the bag. People kept your secret for several hours Lowman, it would have been fun for the whole weekend.

Airdale

Disclaimer: Mr. Morris is very willing to reveal information in greater detail to a caller so if you want more information, dial the man. The interpretation of information received from Mr. Morris is subjective and based on my understanding of the conversation. He is sensitive when asked if the information provided can be placed on a message board, therefore some of the conversation has been withheld. Any competitor can read this board and glean information.

K9 services were indeed part of Services on Income. This sector has become large enough to split out, hence this quarters income reflects two income sources. K9 is attached primarily to one client and this client’s slow payment for this service is greatest cause for the large rise in AR.

Collections on AR average less than 45 days for standard drug testing Services. Because of the size and strength of clients, bad debt will remain extremely low and cash flow is good. IMO, this is a very low turnaround time for clients of this magnitude and shows the respect and relationship Mr. Morris has developed with his clientele.

Training a new client to use LBWR’s contracted service providers is an ongoing process. If you use their contract’s you get the quoted price of service. If you use a non-contract provider, you are invoiced the difference in price. Cost managers for clients can view the quantity and additional costs online.

Computer costs are about where they will remain as a percent of Revenue. The majority of this has been payment to a contracted Programmer. Labwire leased computer space until last week, they now have their own server and contract with said Programmer to maintain and upgrade proprietary software packages. The new platform is running superbly, is located off-site in a cool room, has a first class firewall and extreme security and backup resources. Because of these qualities its location is a showcase for future clients. Information is still accessible for clients on an immediate basis, one of LBWR’s greatest assets.

They have secured new clients as PR’s have stated. However, as a large ship takes a long time to turn, a large client takes a long time to integrate into full service. Don’t expect next quarter to be a huge growth quarter. The following quarter will show a quantum move in revenues.

Expect a new large client in the next several weeks in the energy sector. A giant in this business segment is accepting bids and as mentioned in a prior post, Dexter is 100% on closes to this point.

Upbeat, energetic and positive would still describe his attitude as he continues to build and promote this business. IMO our stock price won’t rocket but like the company will grow very steadily as new clients feed the income statements.

AIMHO
Airdale

I was going to ask if you ever slept, but with girlfriends it is obvious you don't.

Airdale

Lowman, also got it. You Sir, are amazing.

Thanks,
Airdale

Thanks jchristiang, so ie with rented computer space this cost, which was about 6% of total revenue, is somewhat fixed and will remain so in the future.

I have had some dealings with larger firms but not Fortune 500's. Ran a service for some mid-rangers such as Symantec, Intuit, and Cisco back in the late 90's. I always got the feeling the payment for services was generally based on how highly they valued a continued relationship. Our receipt of payment "generally" ran around 45 days for most these folks.

I am still calling Dexter for a chat later today just for a mental tuneup.

Airdale

Creede, do you have plans to talk with Mr. Morris this next week? If not I will call, I would love to know what projects are involved with $75,000 in computer expenses for 1/2 a year. IMO for this size a firm that is a sizeable cash outlay. It would probably provide more insight as to the future of LBWR knowing the size and scalability of the system they are implementing.

I am also very curious about Accounts Receiveable being such a large portion of the quarters Revenue. Do you happen to know their payment terms for clients?

Thanks again for the heads up on earnings.

Airdale

2create, the subsoil issue has become way too disruptive a subject for the board and is possibly distracting to some. Simply put, I do not see subsoil as the positive that you stated in your original post.

You have with immense effort and dedication served as board moderator and I greatly respect and appreciate that. I hope that you continue to serve the board for a very long time with your services of inestimable value. There are so many quality posters that reside on this board, it is a tribute to you and the job you have done, I applaud you.

It is beyond obvious that you have some issues with me and my disagreement on subsoils and valuation of AURC, which is about half what you believe. I can accept both and obviously hope you are right and I am wrong. In order to remove the possibility of future board disruptions I will cease posting here. I have spent far too much time dwelling on this stock and it will afford the opportunity to look for other quality investments.

Let me make it very clear that I remain very long on AURC and consider it my favorite stock for price appreciation over a one-year period. A view of my profile will support this statement. I also wish only the best for all shareholders in the future and offer a sincere apology if I have wasted investors precious time.

Airdale

Nice notice on the dilution, a humble guy that knows more than he says. With positive net income this shouldn't be a problem in the future either.

One other note, the employee expenses was over 40k per employee, pretty high for a quarter but also probably telling us that Dexter and crew are feeling compfortable to draw some of what they are worth. They won't get rich on this number but aren't starving either. It will provide incentive to continue bringing in larger numbers.

Once again, nice find Creede.

Airdale

Creede, solid earnings but nothing spectacular. We already know from conversations with Mr. Morris that revnue numbers 50% better already exist.

Several notes, did service revenue really drop by over 20% or did they just begin separating K9 revenue?

60k on computer expenses in one quarter after 19k the prior quarter for a four person operation, that is one fine system, wonder if automation is built in to alleviate future employee expenses?

Bad Debt $425 with a million in revenue, Dexter is building a base of "very" quality clients who pay. This is an amazingly low number.

A/R of 800k on quarterly billing of 1 mil. Wow, they give the client latitude in time of payment, same is said of A/P of well over 1/2 mil.

We already know better things are on the way and they are growing so this quarter simply shows they are in a growth mode, just not a big one at the time.

Thanks for pointing this filing out Creede, you never miss anything.

Airdale

2create, you are a top notch board moderator and always provide great DD. However, when it comes to someone disagreeing with you on any topic at any level, you get far to dismissive and condescending IMO.

Just because some of us think the sub-soils act will inhibit partnering with some firms thusly inhibiting the price does not make us a NON-BELIEVER. I hold nearly a million shares and have no plans on selling for a period of time. Relax fellow shareholder and enjoy some diverse ideas. Perhaps concepts others beside yourself bring to the board have merit.

AIMHO
Airdale

Rook, last week 2create and I disagreed on this very item. The sub-soil law was enacted to protect Russian oil and minerals from being "hijacked" by firms from other countries. It simply keeps the geological assets of Russia in Russian hands. There are some amendments proposed wherein 50% of ownership can be transferred to non-Russian entities or a JV. Nothing has been done with the amendment as of today.

As currently it sits, the reason I don't like it is because it will make it much harder for a Barrick Gold or Newmont or whoever that is non-Russian to partner/JV with us. IMO we end up with a Russian partner that few in the west are familiar with and we don't reach full value near as quickly. Please note the markets reaction to the NDOL merger with a Russian entity. How do you think response would have been to Apache or someone better known in the west?

AIMHO
Airdale