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Thanks rumple for letting us know it will be probably years. I was hoping sooner.
This is the kind of thing that really is bothering many I have spoken to.
"During October, 2009, Mr. Wittenburg, a former officer and director acquired 5,000,000 shares of our restricted common stock in consideration of $50,000.
During October, 2009, Mr. Dillon, a former officer and director acquired 3,500,000 shares of our restricted common stock in consideration of $35,000."
Definition:
Consideration is the legal concept of value in connection with contracts. It is anything of value in the common sense, promised to another when making a contract. It can take the form of money, physical objects, services, promised actions, or even abstinence from a future action. If either promisee already had a legal obligation to render such payment, it cannot be seen as consideration in the legal sense.
In common law consideration it is a prerequisite that both parties offer some consideration before a contract can be thought of as binding.
However, even if a court decides there is no contract, there might be a possible recovery under Quantum meruit (sometimes referred to as a Quasi-contract) or promissory estoppel.
So basically they may not have done anything but made a future promise to possibly due something and got shares anyway for nothing.
Yep, it turns out I was wrong about something else. It turns out that Mr. Kampa did not get those shares back from Scott and Reggie to mess with the MM's and to help save us. Some one who was very kind, knowledgeable and nice smacked me around in PM's so I will not out them but I was wrong.
This is what they had to say to me:
"Where did you get this info from?
The transfer agents are used to allow the shares to become registered through an attorney opinion letter and the filing of about 3 forms including the 144. Once the shares are registered they appear as free trading in the persons brokerage account (such as eTrade, Ameritrade, etc.) instead of restricted. At this point, the owner has the option to sell them but doesn't have to. The newly registered shares won't hit the market until the owner decides to sell them. The market makers have no true knowledge of when the shares will hit the market. The filing of the form 4's happens after the shares are sold, not before so the form 4's provide post event knowledge."
So I did a little investigating and found out I was 100% wrong. Scott and Reggie were just dumping shares all these years on us to live large.
When I am wrong I admit it and I was wrong. Thats what happens when you get blinded by the pot of gold at the end of the rainbow. You go blind and only see what you want to. I have been grounded by some and it is back to being a fact based investor verses dreams. I hope Kampa can make our dreams come true though and start putting out some facts. The Rumor mill has been running again behind the scenes and all I can say is I will believe it when I see it. I guess in stead of sitting in limbo speculating we need to start seeing some results verses the rumors.
Me personally no and I have not sold. They need to clean the oil thing up and see if anyone will invest in this company with the current share structure. I am sure anyone who would or will invest in this will have attorney's, accountants, etc... go over this with a fine tooth comb. if you look at the last quarterly it says on page f-10 that "In December 2009, an entity 25% owned by Mr. Wirtz and 50% owned by former management or board members loaned the company $20,000 in exchange for a promissory note at 12% per anum interest which is due on May 31, 2010.
This must be that Gem Light corp. Dillon and Wirtz own and I am not sure about what the conversion is on it. Maybe MrOWL can answer this one.
I am not sure why the company did this?
On September 15, 2009, Exobox Technologies, Corp. sold all right, title, and interest of all the SOS Patents to Scott Copeland in return for $95,000, resulting in a gain from assignment of patents of $95,000. On November 1st, 2009, Scott Copeland re-assigned all the SOS patents to Exobox Technologies, Corp. in exchange for a royalty equal to three percent (3%) of the net proceeds, if any, derived by Exobox from the SOS technology and issue directly to three (3) other individuals or entities of Copeland’s choosing, a collective total of 1,250,000 shares of Exobox common stock restricted under Rule 144.
Why would they sell everything to Scott and than buy it back?
Also the Financials say that they are "UNAUDITED" which means they (EXBX) did them. So any investor that was going to invest money in EXBX is going to have a personal CPA go over the books and all to protect their interest. It also says that the auditor says "Our auditor has substantial doubts as to our ability to continue as a going concern." That statement alone is going to make any potential investor take a good hard look.
Than we have this:
During October, 2009, Mr. Wittenburg, a former officer and director acquired 5,000,000 shares of our restricted common stock in consideration of $50,000.
During October, 2009, Mr. Dillon, a former officer and director acquired 3,500,000 shares of our restricted common stock in consideration of $35,000.
Maybe MrOwl can comment on what the conversion will be on this.
The company seems to be getting back shares in the front door but they seem to be going right back out the back door.
like this:
In August, September and October, 2009, the Company granted 27,707,500 shares of common stock to consultants for services performed . The shares were valued at $966,841 on the date of issuance.
So Scott and Reggie gave back about 120 million share +/-, than the company gave about 40 million to the non producing oil wells that have more debt than value. Past directors and present directors have all these shell corps. making loans to the company for shares with conversions and warrants. They are paying the new PR firm in shares. Not to mention that Dillon and Wirtz were / are getting paid in shares from the former employment they had and they gave a little less than 28 million shares to "CONSULTANTS".Many things to still be alarmed about and Kampa needs to fix these and quick.
We also need to worry about if they get financing what will be the terms on that? How many shares will they give the new investor and all. Unfortunately they give shares out like candy at Halloween. I am not turning negative and hope Kampa can get this done but he has a HUGE mountain of glass to climb, barefoot.
Well it is not so much just us guessing, everything comes out in the end. That oil well deal was the worst thing ever. The company gave them like 40 million shares for nothing in return. I am glad that Kampa has acknowledged it and addressed it. I am waiting for him to kill the deal and get all the shares back and give the wells back. By the time the investor got his money, the debts were subtracted, nothing was left of that to benefit us or the company other than EXBX inherited debt and paid for it. So I will feel better when the deal is over and EXBX gets those 40 million +/- shares back. Also those non producing wells may be worth much less than what they said and we may not only incur debt but also lose money. The best thing they can do is just give them back and get the shares back.
LOL, I learned the hard way also. I am praying Kampa can do this but the possibility is always their that OSR starts coding this and they come back and say "HEY we can not do this" or "This just does not work", etc... I did love this at one time until all the past management screw ups and greed that was at our expense. Yesterdays agorawhatever BS company they hired tries to release news to us on this board which is a major NO, NO. You would think agorawaste of investors money would earn that $4,500 a month plus all those shares they are getting for free which is dilution to us would at least fork over the $300 for a PR or something. I am not so sure this PR deal is in our best interest.
I would not worry about the video. I talked to many after wards and they all said it was not that impressive and they did not get a warm fuzzy. Actually most said it was like the same old stuff, many promises and delusions of grandeur.
Thats it, flip and never fall in love with it!
I am going to be seeing some friends this weekend one is a CPA or accountant and the other friend is an attorney now who use to have his series 7 license (no more though). Since EXBX has another quarterly due out soon I am going to bring them the EOY and the most recent quarterly and ask them for their take on it and what we should all look for in the one due out soon, I believe it is in a week or 2. I will take notes and post them for all so everyone knows what to look for in the next quarterly. I will try to post my notes early next week, FWIW or for those who care. My opinion was it looked good to me.
You are so close to being at .04, I think the MM's are out to get ya and are teasing you, lol. That is like $390 after commissions?
I heard the video would be up tomorrow or Thursday from the meeting.
Nothing to worry about today in EXOLAND buddy, we are good IMO. Relax, have a PB&J with a cup of milk and get excited, I am.
Hey Harvey,
I do not want to bother Mr. Kampa at this time I am sure after the holidays he and all are busy at EXBX. I also do not want to become the board liaison for the company. I would like to stay neutral and continue to post my honest opinions, whether it be good or bad. Thats what these MB are for to share info with one another that is IYO and maybe you have a reason for seeing it that way that I did not see. I do have Mr. Kampa's phone # and maybe I will try him later this week if we get nothing from him. I think Mr. Kampa is competent and can carry this ball on his own with no help from me. I am sure I do not have the credentials or know how like Mr. Kampa does. I have full faith in Mr. Kampa right now, lets see what he can do. Besides if it were up to me we would have had a peanut butter and jelly meeting and milk for everyone as that is my favorite and maybe some "SCOTCH & ROOT BEER" for those that wanted it,lol.
From what I understand they are working on a version for the general public that will not give away any proprietary info that would or could hurt the company.
One would think that Dillon could take some of that back pay he took from the last PP and pay the $300 or so for a PR, I am not sure what to make of that. Seems like every time you get hope they pull it right back.
Ok, no offense but that just looks so cheesy and bad when a PR firm tries to infiltrate a MB. Try a PR, This is starting to look.... again. Wow I really hope I was not wrong about Mr. Kampa. They had Agorawhatever join the IHUB to release news to us? wtf is that a joke? Ohhh god here we go again!
No they are old patents from some time ago.
Let me get back to you on that. I actually do have a concern and want clarification on it before I comment.
I think we go into the .04's tomorrow, I hope.
.038 in print, new high since D-DAY, L2 is primed to run into the teens with a bit of news.
EXBX is looking good today. Seems like Mr. Kampa is doing something right.
No need to call him, the video will be out one day this week. The meeting was about 2 hours long and they can not put it all out. From what I heard and as I understand it they are editing it to take out the dead stuff and only keep the things of importance. Like I said I heard it would be out one day this week.
Shawn,
I HAVE A HUGE GLIMMER OF HOPE AND IT IS BLINDING ME, lol.
This is why IMO Mr. Kampa took those shares away from Scott and Reggie for 2 reasons. 1) to lower the Float which was incredibly smart and beneficial to us shareholders 2) to make it so the MM's and transfer agents have no idea whats going on and can not use the companies own shares to kill us.
Harvey,
I do not believe we have a short position. See the MM's own "TRANSFER AGENTS". Scott has to register with his "TRANSFER AGENT" every time he wanted to sell shares via a form 4. When he files a form 4 the "TRANSFER AGENT" gives a heads up to the MM who dumps shares on us. When Scotts shares or Reggies finally hit the market the MM's scoop them up from the "TRANSFER AGENT" that is owned by the MM's to cover real quick. Also everytime Scott ever sold the PPS went up, why? Because the "TRANSFER AGENT" gets a % of his sales so the higher the sales the more $$ they make. Transfer agent and the MM's both make a boat load of money, AIMO.
Well it looks 2 me like we got it, Mr. Kampa and IMO money is on its way, I really like "SIMON", nice guy IMO.
Mr. Kampa has my approval so far and so far has done an outstanding job in the short time he has been with us. Glad he is here and look forward to his continued success with us all.
Hey harvey,
I agree, it is ILLEGAL for them to do but IMO it would be very costly and time consuming to go after the MM's for the Illegal activities that they have done to us and this company. IMO Mr. Kampa is being "PROACTIVE" and not "REACTIVE", lol, I crack myself up sometimes. IMO he is making it almost impossible if not very, very hard for them to screw with us. The SEC dragged their feet clearing us of any wrong doing and letting us up list to the OTCBB for YEARS because of red tape, politics, $$ and BS. Mr. Dillon I have to say did clear it up and did get us to the OTCBB so I would say he was actually very useful and did help us tremendously. I just wish Mr. Kampa had picked up right after Mr. Dillon instead of Kevin. Actually I wish Mr. Kampa and Mr. Dillon were working together 2 years ago and IMO we probably would have been rich today. I am glad Mr. kampa is here now and I guess better late than never.
Ya know you really should not visit those ummm sites that have nudity :P
Thats funny!
LOL, that's funny and the truth. Like I said Mr. Kampa IMO has fixed this problem that when he releases news they will not know it is coming or be able to short it and cap it anymore. By Mr. Kampa taking all those shares from Scott, Reggie and all the MM's no longer get to see the form 4's filed and do not get a heads up on us. IMO it is time we cr@p on the MM's for once and Mr. Kampa is going to see to that. Looking forward to Mr. Kampa's news and next moves to protect us all and make this investment grow. IMO Mr. Kampa has some more behind the scenes things to do so we are safe and the company is safe from all this manipulation from the MM's. IMO Mr. Kampa is smart and knows what he is doing.
Nice day today, PPS is up, L2 looks like it is about to explode, MM's are lined up into the high .04's and will probably start smacking .05's soon.
Oh the BLUE screen of death sucks. Glad you got it fixed. Best Buy could not put a memory card in a digital camera with out messing it up. If you need any programs let me know if you know what I mean ;)
where is everyone? I know B was getting a Brazilian wax tonight, but where is $D and TV dinner?
Thats scary
At this point I would marry Ford if I could, I bought it below $2.
Thanks for that info, I believe Mr. Kampa knows what he is doing, GREAT job so far IMO.