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Petty has a new interview on Wallst. net which I cannot access. If anyone can put up a link it would be apprecaited. Like to hear what he has to say. Thanks.
I agree that the reverse split scenario is weak and Petty knows that stocks that RS often go down immediately. A thousand to one RS would only make the stock a penny. As for the notion that insiders sold at prices up to 15 cents, the writer forgets that it was the Evo Morales nationalization statement that caused the stock to drop on May day, 2 plus years ago. The large amount of OS shares is troubling even if the true float is less. Can you explain the vendor theory of exchanging shares. eg. If a vendor of a truck was given a billion shares valued at .0001( a $100,000 value) are you saying he would agree to sell the shares back to the company for .0002 hence doubling his profit on the truck? Why wouldnt the vendor just sell his shares on the open market for higher gains if the company starts to produce on the ore, gas, or gtl deal?
Shoe nuf
Good work. I feel better too as apparently it is a legal problem with the naming of an old franklin mining subsidiary and has nothing to do with the West Virginia oil company. A pr carifying this will be helpful if the company can phrase it withour causing more confusion.I an taking off my shoe and throwing at beentheres posts.
As much as I want the info you obtained on Franklin Oil to be true, there is no doubt that the company referred to is FMNJ's Argentine subsidiary. Steve is being disingenous or is misinformed. Franlin OIl is a West Va corp and has no Bolivian or Argentine contacts and does not advertise in nor has a gtl proposal in Argentina. While Jaime is not mentioned by name, clearly he is the ceo that resigned in March mentioned in the article. Whether such a meeting on Dec 11 took place is another story.Not your fault but reread the article and you should agree.
But I can handle the Twerp.
You are intellectually bankrupt. Whats a scam? Business is tough right now. Is AIG, GM , GS, LEH goog, etc etc all a scam. These are hard working people trting to build a company. If you cant appreciate that , you should move on. It is tiresome to listen to people who have nothing menaingful to say.Go join your friend Tony.
Jaimes resigntion is mentioned in the article so the name has to be correct. Suggest someone try to speak to Bill.
Maybe it was the Franklin Mint. There is little doubt that the company referred to is Franklin Argentina ,which technically is different than the parent company, but the mention of the resignation of Jaime clearly ids the company . Steve has now lost all credibility with me if he ever had it at all.BTW is this the same young man who use to work for Andy Austin?Stock trading at the bid show a throw in the towel mentality which now may be public selling. I think it behooves the company to be more forthright.
The lack of mention of gtl in todays announcement, highlighing only further Escala progress, suggests that the gtl project is indeed history. This is somewhat surprising since the rumor was that the outside financing for the construction was in hand. Considering the worlwide credit crunch, no one should be shocked that the money was either never was or is no longer there for this speculative project. It looks like the stocking will be filled with caol this year and, unfortuntely, coal is not in demand now. It appears the Tango lessons I took will go to waste. Oh well.
Trying to understand the article which seems to claim that the Argentinian corporation formed by Franklin had a meeting at a private house ro discuss filing to liquidate its assests and that it is in arrears in paying for some newspaper advertising. It would be helpful if someone can find the trade paper which apparently is the source since it contradicts recent statements made by Petty about traveling to Argentina to finalize the contract as well as the appointment of Infante and Dunn to run the Argentine operation. I suspect that the company will be responding soon to this allegation but obviouly this was not the news the faithful had been expecting. Not much choice for investment decisions other than to take a wait and see attitude.
Good find Guardian. It seems that we FMNJ is not the only bidder and I notice there is no mention of the other comapnies involved oin the environmental study. Hope someone can find a recent mention that the fmnj deal is on the table. Also it seems the Chinese are involved.
You may be right. Pumps don't work but real news should be rewarded. Someone believes since they have raised money from investors to build the dream. THe throw in the towel mentality is also a bullish signal. Like they say at the start of the Indy Race, " gentlemen start your engines". Hey, I hear the Mets owners lost 300 mil in the hedge fund ponzi scheme. Show mwe a smart investor in the current environment.
The only singer who played for you guys was Johnny Cash who unfortunately has checked out. Never call Fuego in a crowded theater. Hope the trucks Petty bought were not GM products. I think the company should reorganize as an insurance company or a bank.Plenty of good US dollars around for them.
New out---Jose feliciano travels to tierra del fuego to sing "Come on baby light my fire"
look under the Brooklyn Bridge
Plus the profit he can make on the sale of the Brooklyn Bridge.
Brilliant strategy. Buy at .0001 and sell at .0002. that's like 100% . how can one miss. Reminds me of a casino stratehgy to double up in blackjack until you win. Problem is after 7 doubles you hit table max. a $10 min table has a $500 maximum bet.Problem here my friend is that there are few if any shares available at .0001. you have to buy these pinks usually on the offer and there is no guarantee that you will ever be able to sell at the offer. Right now you can buy at .0002 and sell at .0001 to take a quick 50% tax loss for this year. If you are only losing 50% of your money you are doing better than most.
You are probaly right. The streak continues
The Land of the Fire is on Fire. Lucky the gtl plant didnt burn down
that is your educated guess. what is the purpose of a screen play. beside it only works against a strong pass rush.
Maybe you can find a story that the government is committed to a gtl plant to turn there gas finds into gasoline. Thats the news I'm looking for next.
You remind me of the bellboy who got fired for spreading roomers.
Hope everyone has a good weekend. Stock looked pretty good today. Maybe Petty can get the deal done this weekend and the next photo posted will be Petty dancing a tango with the wife of the governor of Tierra del Fuego. Next week can abe very exciting...... or maybe not.
Tell you what I think Getthem. The company today sold about 1.5 billion shares to a investment group or individual to take in a cool $150,000 in cash needed to complete the plant, gtl deal etc. Those who think this was someone dumping shares does not understand that for every seller there is a buyer. Who was on the other side to pay .0001 for those billion plus shares. My girlfriend Olga hasd an order in and gor filled for 11 million shares but she is, in my opinion, the exception, since most people, like the new poster, panic and pull their order thinking the stock is going to zero. For someone to make a sizeable investment now of over 100 Gs, they must have a stong basis for believing that this will work out. It would not surprise me to see a close of .0002 or better. If the company has enough cash now till the cash flow from Escala comes in, the stock should make a nice move like it did a few weekw ago. What do you think senor? Did we getthem or did they getus.?
petty may be saying float is 2 billion since the rest are held by big money boys but if they are not resticted, they are indeed in the float regardless of what Petty believes. If I had a billion shares at a .0002 average, I would definitely take my money off the table at lets say .0006 and let the rest ride. Obviously someone believes the story. Time will tell.
If it is a sham, how are the scamsters going to benefit? You have communicated with the company hoping to get an edge. Did you expect any company to tell you thing are not going well? The world is in the middle of a terrible recession and many business plans have been canceled or tabled. On a positive note, the people running the company seem to be active, hands on managers who have put there future in the companies hands. No one likes to see the stock flatlined, but we are in good company weith the likes of people who owned Lehman, Dry Ships, Citicorp etc. The survivers will do well once the world recovers so just hope for survival or else sell and take your losesif you have lost all confidence.
Hey Mart. Did Petty really announce a year ago that he was traveling to Argentina to try to finalize GTL and that he reviewed the Escala infrastucture buildup? Also if you were running the company, how would you pay for the costs and expenses rather than issue shares? As probaly the largest individual shareholder, I would think that you could give a more cogent response to the board. Do you think we should all take a hundred bucks for every million shares we own and head for the hills. Do you think this is all a sham and Petty is not trying to make this company a success and Infante, Dunn and Baker are wasting time working in a primitive culture with little conforts? BTW I don't expect a intelligent response to my questions. We are all frustrated but venting is not the solution especially from someone who has invwested so much money hoping to make a huge score.
Petty's return to Tierra del Fuego, an area that is near Antarctica, does not appear to be a junket. The appointment of Dunn and Infante to the Argentine suggests that the long awaited deal may be near. Petty may be going to sign the contract but doesn't want to post it since it would disappoint if the deal is delayed. Maybe we will get a nice Christmas present after all. This news could put the stock in play big time.Stock volume is about nol the last few days with under $50,000 total dollar volume. We may be heating up soon as a flat line chart often is a harbinger of a bull move.
If you count shares yopu will fall asleep easier. I tried it last night and fell asleep at 568,000,206 Frankie Llamas jumping over a fence. I recall Petty discussing the OS in an early memo to shareholders when he first took over. I was talking about a news release. Never saw one yet that addressed a decision to not go into the equity market to raise capital.
Companies never announce that the are no longer issuing shares. You can figure it out yourself when the price starts to rise without news. In these times there is no accurate way to evaluate the value of an investment be it a pinkie or a solid company like GE. The market cap of Citicorp is only 25 billion for example. Meanwhile the market continues to make a stealth move upwards. A rising tide lifts all boats they say.
Opening bid/ask was .0002-.0003. Srock traded at .0003. I think that is calledd an uptick. You were up 50% for the day a little while ago. Not too shabby.
Uptick prior to open. Looks like the next leg up is about to commence. Happy trading for all.
The children will be fine. When asked about how he liked children, WC Field replied "well done!". Worldwide governments are infusing trillions into the system to stave of a complete financial meltdown. Bailouts seem to be, infortunately , part of the necessary medicine. Isn't the government holding our money anyway from revenues from taxes and bonds? As for franklin, sp advises that the trucks are ready to roll and gtl is awaiting the government imprimatur. If this is true, the stock price should soon reflect the fact that the company will make..................money. BTW, I thought a Rio Tinto was was gthe Brazillian girls did to their landing strips. $85 is enough to pay the beauty parlor.
It is always darkest before the dawn my daddy use to say. Plenty of fear, and rightfully so for no one under 85 has experienced the deflation that was the hallmark of the DEpression until now. Worldwide governments are printing money like crazy buttressing the greedy banks that are the major cause of this debt bubble. It is now time for a transfer of the worlds wealth from the oil rich nations back to the people who actually know how to build stuff and have technological know how. Hi ho silver ....away. have fun kemosabe for in the end we all just a grain of sand in a vast universe.
Stock market is making a stealth rebound which is good news for us as well as the country in general. Last hour indicator has been strong the past few days. It is not unusual to see a 50% retracement off the lows. That woulde give us a dow of around 12,000 and a fmnj price of .02 sometime in 2009. As Royal pointed out, most here will be gone at a half a penny looking to get back on a dip. Thats my call for what little it is worth.
Half a billion shares at approx .0002 is a cool 100,000 to buy a nice 40 ton truck and a tankful of gas.
It would be nice if this board had posters who could give some commentary on the prospects , or lack thereof, of the company rather than whining about the price, short selling conspiracies and, alleged MM manipulation. It takes money to run a company and until the trucks start to roll and the pilot plant is built, the CEO still has to pay for salaries, administrative expenses, traveling costs, legal fees and maybe a coochie coochie dama or two to keep the buyers entertained. If those who still have the ability to think believe that December - February will be exciting times, buyying at the .0002 level might be the best investment one can make and you can thank the company for its ned to raise capital. For those who have a set of cajones like our friend Mart, listening to griping from idiots( you know who you are) can only hurt ones smart investment decisions. This may be the last time to jump in at these bargain basement prices. We shall see.
The speculation here does nothing to increase or decrease the stock price. Any company that would try to plant information or false rumors on a message baord would be a sham doomed to failure and possibly prosecution. That being said, these boards do have a use for those who are interested in doing some due dilegence and have the ability to separate the wheat from the chaff. It is also amusing to watch penny tday traders post who think they can influence a stock price. I am sure you have not been there of done dat but it is not too hard to see who duz.
Many of the posters here who claim to have some special knowledge have been consistently wrong. Asking for a publication of inside information is just plain stupid since trading on this type of information is illegal. (just ask Mark Cuban).That being said, an investor often gets tipped off to future news when a stock starts to outperform without any news coming out. Buy on the rumor, sell on the news adage seems to work out many times. I hope that this time the correct strategy will be to buy on the rumor and buy more on the news. I have no idea how to evaluate a possible gtl contract before the terms are published. I do know that the company's credibilty will be sharply enhanced once they start processing the ore and if they do get to help build the Argentinian gtl facility. Stock looks awfully cheap at this level where a double will only make it a tenth of a penny.Back to the future.