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Haha, yes Kevin's CEO skills need work. Again he is an environmental consultant and geologist. His wife is a microbiologist. They are not MBA's from Harvard.
It was over a year ago, Kevin immediately said he had nothing to do with it, it said that on the mailer itself, and there has been nothing like that since.
Stock can be sold to investors in many different ways. They could have accumulated it over time, through a lot of different groups or buyers. Or they could be part of one of the less than upright financiers that many, many small caps often deal with. If they are smart they target a stock in a hot sector like water and a great product like the redbird and try to make money off of it. People will try to make money any way they can.
It doesn't matter. What does matter is that Kevin had nothing to do with it.
Of course they tanked they are sent out by someone who owns shares and wants to sell them, every savvy investor knows that.
Are you saying an 8K isn't an official SEC document? What are you saying?
This has been covered many, many times on this board. The mailer was sent out by people who have NOTHING do do with this company. It says so in the fine print on the mailer. You keep using the mailer as a reason you don't like this stock, but you ignore what it says on the actual mailer. You seem to be ignoring the facts? Over and over again?
Ibox is looking great by the way. I think we can safely say the upward movement this week is all thanks to our work on the ibox right?
About the 5 million in cash sitting in the coffers. I'm curious as to whether the terms of the camwater deal still include the 4.3 million cdnl receives as a down payment upon getting financing,
If we get up to date with the 10k and 10q that is a good start. A 10q-NT is a very common form. You might be kicking yourself if you sell, it comes out 2 days later, and you lost 10 or 20 percent on your position.
Or you guys might not care, either way if we get the second quarter q and it shows the first tranche of funding (1.1 million) as well as debt being paid down this thing will take off.
Wow one year, that's a lot of ups and downs, kudos for hanging on.
To be fair, I think he only publicly said next week once? (unless I missed it), which I agree was a mistake.
Agreed, I might just be making it worse. (I edited the post right away, don't know which one you replied too).
Right, hopefully you saw the nicer edited post and not the first one. Obviously I am a little frustrated as well (sorry :/). I knew right away it was a mistake when KJ gave in to us and gave us a timeline, and was almost sure he wouldn't meet it.
But I'm not that frustrated, so glad I found this stock.
Chances are KJ knows very little about financials, he's an environmental consultant and geologist, he probably had hourly accountants do the work before. Also given how busy he was I am guessing the new CFO didn't have a lot to work with.
I completely agree he needs to be current, I just don't want to throw out demands that are unreasonable given how long our new CFO has had to do everything.
So he started 2 months ago, that's 8 weeks he has had, vs the 25 weeks the SEC gives, (plus restatements). Who knows what he had to work with. Kevin was pretty busy during that time so I'm guessing not much.
http://ih.advfn.com/p.php?pid=nmona&article=71623294
Right, I think it's def ok to be upset that filings aren't out, just don't pretend like we know how long they should take now and set arbitrary deadlines and create false expectations that make no sense based on what we know. If you want to go by the book, 25 weeks, (plus restatements), It won't take nearly that long.
Also we have to add the restatements into the equation, which I have seen take a long time depending on the complexity of the convertables.
The SEC gives companies 45 days to file a Q and 90 to file a K. Depending on when our guy got started on them that would be 180 days he would normally ave to file a 10k and two 10q's. That's 25 weeks.
I don't think it will take him 25 weeks, but if we give him what he would usually be allowed, I don't think we would expect to get both Q's by the 15th.
He said they were completed and we're just waiting on the restatements? That would be good news.
You guys are setting up another false expectation and let down by expecting the second quarter financials by Aug 15th. We still need last years 10k and the first quarter first.
You've made 18,000 but your patience is running thin? By all means sell right at the potential major turning point for the company.
You forgot to quote the rest of my reply, here I'll do it for you, and provide a link so you can do some actual DD,
Why does your pitch for this stock say it seems to have changed business models multiple times. Is that the extent of your ability to do due diligence?
There was a reverse merger in early 2014. Look it up. Kevin has been working in environmental consulting for 30 years. Cardinal came up with the idea for the redbird in 2009 and went public in 2014. Try to get it right next time.
Great sticky post.
I also found something else I forgot to include that should be added,
Kevin Jones currently on the Western PA Export Council- http://2016.export.gov/pennsylvania/pittsburgh/westernpadistrictexportcouncil/index.asp
Maybe after the link about the export achievement award. That's probably how he got invited to the white house.
Cool, yeah that's much better than when the info just trailed off into nothing like at the top before, thanks.
If you do get a chance and edit it anymore you might put a few "2016"'s up there in the links so people know things are happening currently, I should have put some after the stuff about the project with pure earth or the lines about the CEO paying off debt.
DD link post, feel free to change any wording/use or don't use any of this.
Webpage- http://www.cardinalres.com/
Facebook (for company updates)- https://www.facebook.com/Cardinal-Resources-Inc-CDNL-131765917547/
Twitter- https://twitter.com/krjcardinal
Filings- http://ir.cardinalres.com/all-sec-filings
PR's- http://www.cardinalres.com/media-center/press-releases
Important PR's - http://www.cardinalres.com/media-center/press-releases/detail/85/cardinal-resources-inks-7-5-million-equity-financing-with
http://www.cardinalres.com/media-center/press-releases/detail/88/cardinal-resources-receives-initial-1-1-million-tranche
Patent for the Redbird- https://www.google.com/patents/US8366936
Kevin Jones (CEO) with congressman Mike Doyle (export achievement award) 2011- https://doyle.house.gov/photo-gallery/district-2011
Local PA article in 2013 - http://www.business.pitt.edu/katz/sites/default/files/2013%20PA%20Gobal%20Compass.pdf
Video of the CEO on Nigerian local news, (lower left hand side)- http://www.cardinalres.com/media-center/videos
Kevin is invited to the white house to talk about the US EXIM Bank (The EXIM's 5 month black out period delayed financing for the 28 million dollar CAMWATER project) - http://finance.yahoo.com/news/kevin-jones-cardinal-resources-ceo-100000234.html llhabela I believe you have some pictures of this? or it might have been something else
More articles featuring Kevin fighting for the EXIM's reinstatement in 2015 - https://piie.com/blogs/trade-investment-policy-watch/foreign-policy-case-reviving-ex-im-bank#_ftn4
http://exportersforexim.org/2015/10/job-creators-in-pennsylvania-hurt-after-100-days-without-ex-im/
Cardinal on the Technical Advisory Board for Pure Earth, (Large NGO with 90 projects in 22 countries, search for cardinal resources)-http://www.pureearth.org/who-we-are/tech-advisory-board/
Pure Earths website on the recent project with Cardinal in Cameroon - http://www.pureearth.org/project/assessment-and-cleanup-of-contaminated-sites-cameroon/
Report on Panama project, (including lab tests and report from Panama's minister of health)- https://drive.google.com/file/d/0Bz9E0gaJ6VeeY2tObmxFTDZGSzQ/view
Pictures of the CEO doing business, (scrolling the facebook page) - https://www.facebook.com/Cardinal-Resources-Inc-CDNL-131765917547/
8k's of the CEO paying off debt after getting the first 1.1 million tranche of funding from HSVW,
http://ih.advfn.com/p.php?pid=nmona&article=71650200
http://ih.advfn.com/p.php?pid=nmona&article=71709099
CEO owns almost half a million dollars in shares, and continues to buy shares on the open market, buying 20k worth recently- http://ih.advfn.com/p.php?pid=nmona&article=71541408
Great post on the potential for CDNL- http://investorshub.advfn.com/boards/read_msg.aspx?message_id=124197258
Yeah I got that one but that was a major piece for me as well, no one else seemed to think so, haha.
Awesome thanks, I will make a post with as many relevant links as I can find that you may or may not want to use so they are all in one place for you, or whoever ends up updating it.
Someone should really, really, take the time to put all this stuff in the IBOX, I'm not great at formatting but there's just no reason for us not to make this stuff easy to access so people can make their own decisions based on DD and not on random posts.
Wow google has failed me, haha, thanks for this.
There are all kinds of fallacies in logic in this post. You need to sell your shares if you're so worried about this company.
I have been trying to find a link for the exporter award thing for a while now, thanks.
Traveling all day tomorrow.
I don't have private messaging. I have seen many, many, many scams in pennyland. None where the CEO is even half as active in communicating with shareholders as this. None where there are so many verifiable things like patents,
https://www.google.com/patents/US8366936
Business dealings with huge non governmental organizations, (search for cardinal resources)
http://www.pureearth.org/who-we-are/tech-advisory-board/
Government reports, (here from Panama's minister of health)
https://drive.google.com/file/d/0Bz9E0gaJ6VeeY2tObmxFTDZGSzQ/view
Videos of the CEO on other countries local news selling the product, (lower left hand side)
http://www.cardinalres.com/media-center/videos
Loads of pictures of the CEO doing business, (scrolling the facebook page)
https://www.facebook.com/Cardinal-Resources-Inc-CDNL-131765917547/
and on twitter,
https://twitter.com/krjcardinal/status/756249251311595520
8k's of the CEO paying off tons of debt,
http://ih.advfn.com/p.php?pid=nmona&article=71650200
The CEO owning almost half a million dollars in shares,
http://ih.advfn.com/p.php?pid=nmona&article=71541408
I could probably go on. The only thing going against Kevin here is the lack of financials, a very justifiable worry for any stock, but they will be coming soon.
Your numbers are misleading too, here is a better representation of who gets the money, large firms got 31% in 2013 and 30% in 2014
http://mercatus.org/publication/export-import-bank-s-small-business-program-supports-big-companies
Feel free to share your source, it looks like Boeing got some huge loans from the bank, may have been mostly in 2012,
So you're saying the EXIM bank is a scam too? Haha wow why does that not surprise me.
Huh? The EXIM is a major supporter of small businesses, you can try to twist whatever numbers you have in any way, here are facts from the EXIM website,
We know exactly what delayed the financing, EXIM bank troubles for the most part
http://www.wsj.com/articles/export-import-bank-set-for-renewal-1449265587
Also Cameroon government officials being replaced. (The director general of CAMWATER was replaced in late Feb).
After all that we have a meeting with the EXIM next week to finalize. Good time to be a shareholder here.
He said in the update today that the delegation from the Cameroon government will be meeting with the EXIM (U.S. Export Import Bank) next week to get approval, that is where the financing will ultimately come from. As he tweeted in three 10 mil installments since that is all the EXIM can do at once at this time.
So it comes down to that meeting I believe. From previous updates we know the EXIM has already found the project to be environmentally feasible and sound, so that's a good start.
We've been going through a lot of red tape, we also had to do feasibility studies for other documentation procedures suggested to Cameroon by the international monetary fund, so unless we have to jump through any other hoops for EXIM approval, we should be good.