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Um.. no, 116 million have traded in the last 2 months, and 161 million since April, not 600 million in 2 months.
http://www.otcbb.com/asp/tradeact_mv.asp?Issue=uvse&searchby=issue&sortby=volume&Month=8-1-2012&view.x=40&view.y=10&downloadname=mv201208.exe
They had no choice in the matter, Raley had and still has NO CASH. he voluntarily converted all the debt into shares, the CD holders are bagholders, and they already DID sue Raley, reached an agreement on the debt, then Raley defaulted on the court settled agreement. Theres a reason why they don't want to talk with him about the debt, you can't squeeze blood from a stone, its just more lost time and money to pay the lawyer to get nothing. The revenue Raley gets from the 4 wells isn't even enough to pay the maintenance and lease costs of those 4 wells or his salary, you think he's going to magically find millions of dollars laying around somewhere and magically repay the debt, and then have millions more to drill some more wells so that he can even get enough revenue to break even? Even if 99 Billion shares were retired and Raley took $0 as a salary, there still isn't a possibility of going cash flow positive with the paltry revenue coming from those 4 wells. Raleys name is MUD after the last 6 years, there isn't single person on this planet that would give this guy the millions he'd need to pay off the debt and additional money to actually drill.
Those shares were NOT bought on those dates for that amount of money, the money came alot earlier, and the shares were issued in lieu of payment after Raley started defaulting on paying back the loans, those were DEBT conversions. The debt had a floorless conversion feature, the more the PPS dropped, the more shares were to be issued to make sure the debt would be repaid in full. The CD holders then got greedy and started shorting the stock to increase their share count, and just kept going until they bottomed the stock out to maximize conversion, they made their own investment worthless due to greed. They are all stuck holding worthless shares just like you, they didn't buy worthless shares in hopes of striking it rich like you state.
Yeah, it would be quite a few times over the last 4 years, it was dead 4 years ago, its still dead today. The CD holders are holding billions of shares as REPAYMENT of their debt, and they are stuck sitting on those shares just like you are, not because they think their going to get rich, but because the companies dead and Raley is a deadbeat.
And how many times are you going to type that exact same thing before finally realizing this things dead?
You've been told a million times before, that if the company doesn't have anything to say, then it won't, its not a PR company. It has a small handful of employees, who knows what the FDA wanted and how long it took to compile that information with the said small hand full of employees, but whatever it was was accepted by the FDA and finally made them happy, we have our approval. Welcome to how the real world works, not everything is instant, and there are only so many hours in a day to get things done with a small amount of people. Then when you get lawyers involved things slow down even more. Our patience has paid off, thats all that matters.
Your really sad eddy, your now talking to yourself in public.
The stock has been unregistered for almost 2 years since Raley filed form 15 - 12g, the company is no longer reporting to the SEC, the only thing Raley has left to do is file for bankruptcy, its the only thing that MIGHT save his behind, but don't count on it. The guy has destroyed any shred of credibility he has, and the 4 wells he's getting cash from will run dry soon enough leaving the company with nothing of value at all.
Those Billions of shares DID NOT exist when the money was lent to Raley, they were created as those CD holders continued shorting the stock and Raley was forced to increase the A/S count to cover the floorless conversions. Every time the CD holders drove the stock lower, it created MORE shares that were needed to cover the debt. The stock went from roughly 40 million shares to 100 Billion shares in less than 1 year. The CD holders screwed themselves by being greedy and killed the company by forcing the conversions.
Which would still leave 10 Billion shares that this companies assets and earnings can't support. Raley has no credibility, his credit is shot, it hasn't done anything in going on 5 years, and sooner or later the residual income from the 4 wells will dry up as those wells run out of gas, the what is left, thats right , nothing.
He doesn't listen, he's been told a million times not to post irrelevant crap, then does it anyways. Actually glad I'm not the asst mod here anymore, its annoying having to remove his posts constantly just to have him post the same crap over and over again.
Will you stop posting this nonsense, you didn't make squat shorting the stock, you don't own hundreds of millions of shares, you haven't been here 5 years. There are no assets, only a residual small percentage payment from the output of 4 wells, less than 10% on each well. There isn't enough revenue to pay Raleys salary, he can't repay his debt, there is nothing to restructure. This will end in bankruptcy wiping out the 100 Billion shares, and the remaining revenue will go to pay back the remaining debt.
Probably Raley unloading whatever shares he can from his 42 billion shares.
They didn't own the land in Canada, it was a lease, so they couldn't sell it because its not theirs to sell. Raley probably stopped paying that lease and lost any rights to drill there anyways.
Except that Raley then defaulted on that court agreed settlement also, do try to keep up. It doesn't mean a damn thing to get sued, agree to pay something and then not pay it. Raley defaulted on the same debt twice, theres a reason BridgePointe Master Fund Ltd. won't talk with him about negotiating any further, he's a deadbeat.
So in another words, not a damn thing has changed in 3 years because Raley really isn't even trying, but continues just telling his bagholders the same story or lie over and over again, yet you all keep believing that he's actually going to do something. Face it, this things dead and Raley really doesn't care.
It wasn't one million, it was 100,000, thats what, $10? What a winner of a stock and CEO, hows his debt refinancing going LOL.
I'm not defending Roswell, just explaining the facts. You can't sue someone unless you have grounds to sue them, and Roswell being owed money that they lent out is not something they can be sued for. Why don't you try suing your credit card company for trying to get their money back after you buy something using the credit card they issued you. I asked you in the last post, what exactly are you going to try to sue them for, I'd love to hear what you think you can charge them with.
I sold my shares while I could still get something out of them on the last bounce ever, Raley hasn't done a damn thing in 3 years, and there isn't a damn thing he can do unless he wins the lottery. I warned everyone over 2 years ago that this thing is dead, and you guys just bought more shares. I've laid the facts on the table for everyone, there isn't anyone out there in their right mind that would lend Raley any more money, and the small amount of revenue that Raley is getting from 4 operating wells can not support 100 billion shares. You have no case against Roswell, so its pretty stupid threatening to sue them because Raley hasn't paid his debt. You can try suing Raley for screwing his shareholders, but it isn't going to get you anything either, he doesn't have anything except lots of worthless shares of his own stock.
And they probably read it and laughed at you. Guess who else besides the investors invested money into UVSE, yup, Roswell Capital, and they didn't get their money back either. You have no standing to sue Roswell for anything, Raley owes money to Roswell because of a legally signed contract to borrow money, Raley didn't repay it. Seriously, if your going to sue somebody, the only person you'll have a valid suit against is Raley, and even there its a long shot to get it approved. What exactly would you like to charge Roswell with if you don't mind me asking, wanting to get repaid the money they lent dead beat Raley?
Raley already blew the money he received from the financing, then never repaid, was found in default by the courts, and then defaulted on the court agreed payment. Writing Roswell isn't going to get you anywhere, the courts already ruled in their favor. You want to file a class action lawsuit, Raley is the person to sue, he's defrauded his investors and the finance companies, he also agreed to tie all the companies assets to the financing. I'm surprised no one sued Raley 3 years ago since he agreed to corrupt bottomless cd financing to begin with, which we all knew at the time that the cd holders would just naked short the stock into the ground knowing that Raley would have just keep handing shares over to cover each and every naked share shorted.
Who is going to provide financing to a person/company that has little to no income, who has defaulted 2 times on the same debt and still hasn't cleared that problem up in over 2 years, and has all his assets tied to the debt he defaulted on? The stock is worthless and way over diluted already. Its hard enough for companies with great credit and great revenues to acquire any financing at all, I just don't see anything Raley has to offer to any lender, I don't think even a loan shark would lend Raley any money now.
So you think the stock is going to go to .20 a share because Raley and Watford together filed to sell 1.6 Billion out of the 41 billion shares they awarded themselves? Their stuffing money in their own pockets while Raley is telling you that he's taking care of some paperwork to take care of the debt, just hold tight, any day now, thats freakin hilarious. Wonder how their sale is going LOL!
And he's told you he's going to finish this paperwork for how many months now? Just keep sitting here and waiting, I'm sure Raley will just keep telling you the same thing over and over until he's forced to file for bankruptcy protection, which I'm really surprised he hasn't yet. He defaulted on his court ordered settlement, I can't see what paperwork he's waiting on.
Since the companies broke, don't count on any of those things happening anytime soon. Billy's been telling people all kinds of crap for years when he does bother responding to your e-mails, but never offers any specifics, don't expect that to change anytime soon. I surprised the company hasn't been sued into oblivion yet, but then again, Raley's the only employee of nothing more than a residual revenue company, and that revenue is smaller than its operating cost.
Raleys told many stories over the years and hasn't ever followed through on anything, I don't see how any of you would trust a single thing he says, you just all must be gluttons for punishment. If you really have money to burn then send it to me, since all I have to do is make meaningless promises that I never intend on following though with to be entrusted with your cash. I could make more money for all of you guys by just taking your cash and putting it into an interest bearing savings account, with Raley you might as well just dump gas on it and light it.
No, the link does not mean what you say, this is what the filing means from the companies own words from here, enjoy your unregistered shares:
http://ih.advfn.com/p.php?pid=nmona&article=42789650
Universal Energy Corp. (PINKSHEETS: UVSE) announced today the filing of a Form 15 with the Securities and Exchange Commission (the "SEC"). Universal filed the Form 15 with the SEC in order to effect a termination of registration of its common stock under the Securities and Exchange Act of 1934.
It was over a dollar a share when there was only 40 million shares in the float, not 86 billion, huge difference. A R/S is the only thing left to bring the price of the stock back up, and it won't stay up. I can't see what Raley has to use as collateral for refinancing and who would loan the guy any money after defaulting on his loans and then again defaulting on the court ordered repayment amount. It wouldn't change anything anyways since the revenue from the 4 wells still still doesn't cover Raleys salary or operating costs.
The stock is already unregistered for over a year, might as well be delisted. You could probably make more money by having real certificates printed and sell the paper to a recycler.
http://ih.advfn.com/p.php?pid=nmona&article=42679904
You all were warned 2 years ago to stay away from this POS from the people that already got taken for a ride, and yet you insisted on playing the lottery anyways. Raley burned lots of people by committing to destructive financing and not listening when HE was warned by his shareholders what was going to happen. So here we have basically a company that exists in name only with 100 billion shares of useless stock, maybe you should get certificates issued, the paer they are printed on are probably worth more than the stock/company itself.
And your too focused on some kind of fantasy that Raley is somehow going to pull a rabbit out of his a$$. The current market cap on the company is $8.9 million, and that valuation is already to high for this company that only has residual income from 4 wells. Those wells cost money to keep operating them, as well as to pay for the leases, and Raleys salary. Without cash, Raley can't do a damn thing, and with the assets already tied to the debentures, has no way to raise the money needed to do anything. The MM's would sell every single share they own to any sap willing to buy them before selling YOUR shares. Their already a large bag holder on this dead stock, you really think they'll sell your shares before unloading their stock, keep dreaming.
The stock went top .0001 on 3.5 billion shares in the float, and you think reducing the float to 19 billion shares would help this stock, thats just way too funny. With $100K a year in revenue, and court ordered debt to be repaid, this stock hasn't got a snowballs chance in hell. The assets are 100% tied to the debt, either Raley finds money to pay the debt off (yeah right, who'd give Raley another penny) or Raley files bankruptcy and hopes he can wipe out the debt and maintain the assets, which there aren't very many worth a can of beans. The companies beyond bankrupt, its one guy that holds a couple of leases and a small amount of operating interest in the 4 producing wells. More than 90% of the revenue in those wells goes to somebody else.
I'm not missing a damn thing, I'm looking at reality. The company has 4 operational wells that generate a total of $100K revenue a year, thats $20K less than Raleys salary. The debt is NOT gone, you might want to read the 10k filing again, it clearly states that Raley is paying monthly from operating revenues the court ordered award from the last lawsuit. Thats not going to be paid off anytime soon, even if Raley handed more stock out. In fact, Raley handed out another 6 Billion shares since last year, the float is now 86 Billion shares.
If you owned the company that was generating crap for revenue and owed millions of dollars in debt and had no way to repay it and no one would lend you another cent because your a dead beat, what would you do? The only way for Raley to increase his revenue is to DRILL more wells, that costs money Raley doesn't have and doesn't have access to. His other option is to Reverse Split the shares and wipe himself and the rest of the shareholders out to be able to issue MORE shares in convertible debt, which would bring the PPS right back where it is. Bankruptcy is his only option of holding onto any of the assets which are all tied to his current debt.
And if you really think Raley cares, then your definitely barking up the wrong tree. I'm really surprised he hasn't filed for bankruptcy protection yet.
Management??? There is no management. The whole company right now is Bill Raley, thats it, no other employees, Watford left. A few million shares traded each day means exactly nothing out of 80 billion shares in the float. Its hilarious that you get excited by a few million shares moving each day. I make more money at work every single day then changes hands in this stock.
I'm still around, I just have nothing to say that hasn't already been said.
Your right that I lost a ton of cash on this, but I also do understand your gamble on it being a pinky, but its a terrible gamble for a stock that has over 80 billion shares outstanding, and everyone that is sitting on shares has a sell order in. The odds that your order is the one thats actually going to sell if it ever does go up is slim to none, not with this share count.
I don't think so, this stock is pathetic, some of the trades today are a complete joke. 15:04 or 3:04pm trade was for $0.03, 9:32am was for $0.6312, 10:45am was for $0.20. :
Price Size Exch Time
0.0001 750000 OTO 15:23:25
0.00 300 OTO 15:04:37
0.00 78000 OTO 12:43:16
0.00 1500000 OTO 12:14:12
0.00 1700000 OTO 11:47:40
0.00 9000000 OTO 11:47:40
0.00 650100 OTO 11:38:55
0.00 3000000 OTO 11:13:11
0.0001 1000000 OTO 11:13:04
0.00 2000 OTO 10:45:10
0.00 99000 OTO 10:29:29
0.0001 1000000 OTO 09:50:24
0.00 6312 OTO 09:32:27
But having fake shares would also mean you couldn't participate in the rights offering either, you wouldn't qualify to buy the shares and warrants at .02. Besides, from the updated S1 filing, it looks like the SEC is still up to it's usual negligence and hasn't declared the proxy effective yet, again. It amazes me that any other company can file a proxy and get their filing approved and signed off on, but yet NEPH has already filed god knows how many S1's and amended S1's, and each one just seemed to not get the SEC to sign off on it. Its really disgusting that the SEC, the FDA, and Wall Street can screw a promising company into the ground with their delays, games, and manipulation.