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To clarify for those looking at the AEOH filing, Brandon Toth does not have ownership of any stock issued to GSRE re: 9,000,000 shares. Those shares are owned by Green Star Energies which makes Green Star a majority owned shareholder. It states in the filing that because Brandon Toth is a director in Green Star this makes him an owner INDIRECTLY. Green Star Energies actually has 1,000,000 preferred shares as well which are convertible to common shares so the total owned by the Company is 10,000,000. If you have any further questions please let us know and new management will be happy to provide you further assistance.
Yes Brandon Toth is the director. As previously stated the company has filed all taxes up to 2008 and 2009 is on extension. The reason to get tax returns filed is because there is a major tax loss the company can record for any income the company may incur going forward. Also to clarify there are no taxes due at this time or anytime in the near future because of the tax loss. Thank you for your support.
Here is the link to the most recent and accurate capital structure.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47042933
Referring back to a previous post we believe you are asking the same thing again. It appears to clearly detail the facts but if you still have any questions we are happy to try to elaborate.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=45113620
In light of some of the concerns shared by stockholders over the current situation with the Eberle; Green Star Energies recently spoke with Lorenzo Garza in the Technical Permitting department of the TRRC who's phone number is 512-463-2184.
The conversation was nice and Mr. Garza was very helpful in clearing up a couple of these issues mentioned on the Committee Boards. The questions were in regards to the Eberle #1, its status and in regards to any related permits for the Operator. He stated at this time the Eberle #1 is not sealed but that the required filings do need to be updated or it could risk the TRRC sealing it. This means simply installing a lock on the well head until the filings are handled. Naturally we inquired as to what needs to be done to avoid this situation.
He stated that a filing / permit of completion, plugging or drilling would need to be made and at this time they were not. He also stated that the Operator should have notified them of his intentions for re-entry. No new drilling permits were needed since no drilling occurred. Also to clarify, Bull Dog Well Services was on site for a couple days because the intent was to drill deeper, but again, a permit was not needed for this because drilling never took place at that time. The Operator in charge of Eberle #1 operations then decided to complete and test the well at that location. That is when the well was connected and tanks were brought onsite to produce from its current level.
We were told that the Operator’s “P5” was delinquent recently but that it is now current and there are no further issues with this. At this time the Company is supporting the plans to drill in the Pecan Gap and is requesting updates from the Operator on the next step. If we re-enter the well here we will need a valid and current permit but he stated that if filed it might not show up online for a couple weeks. Mr. Garza also stated that the tanks and operations looked very clean and are in good shape for operations to move forward.
If anybody else has anything we should follow up on please let us know. There is a good chance that upcoming news and website updates will likely answer any remaining questions but we will do our best to answer any other questions.
We have no reason to believe that the Eberle #1 has been sealed and no reason to believe the Operator is not in good standing as we explained in our last post. Our conclusion has been reached based on communications with the Operator and our own research. If you have any information or contacts that we can use to validate or counter our conclusions please provide it here or via email to info@greenstarenergies.com. At this time management believes the next course of action is to complete the drilling into the Pecan Gap as planned most recently. Once management has an official update they will make a press announcement.
The Company has no affiliation or working relationship with anyone by that name, matter of fact nobody even knows who that is.
We have no reason to believe that the Eberle #1 has been sealed and no reason to believe the Operator is not in good standing as we explained in our last post. Our conclusion has been reached based on communications with the Operator and our own research. If you have any information or contacts that we can use to validate or counter our conclusions please provide it here or via email to info@greenstarenergies.com. At this time management believes the next course of action is to complete the drilling into the Pecan Gap as planned most recently. Once management has an official update they will make a press announcement.
Prior to any funds being invested into the Eberle both management and the Project Manager verified through the Operator that everything was in good standing for them to be able to move forward and produce from the Eberle. Due to the concerns that have been shared with management we approached the Operator with all the notes that were given that included alleged feedback from the TRRC. The Operator informed us that all required permits were in good standing and that the drilling permit was not required since we opted to start production in the current zone before doing any additional drilling.
At this time based on the information presented and communications we are not aware of any problems currently and are not aware of any efforts to plug or seal the Eberle #1 well. Currently management is waiting for an update to determine how quickly they are proceeding to the next stage. Since there seems to be communications with the TRRC through various posters herein we ask that you provide the contact information of the party you spoke to as well as any notes they shared with you so that management can promptly contact them and ask for verification over these concerns regarding the Eberle #1. Since it appears there are some items contrary to what has been reported to us this will help us pin point any potential outstanding issues so they can be addressed. If you don’t wish to share them here please email them to info@greenstarenergies.com.
The Company engaged a tax accountant over a year ago to maintain the tax records so the Company could take advantage of the tax loss carry forward. All filings have been completed through 2008 as per the most recent information provided. 2009 is on extension so not due until 10/15/2010.
Here is the link to the most recent and accurate capital structure.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47042933
The funds committed were for a minimum of $100,000 as stated. Can you be specific about what doesn’t match in your opinion, as we read it the information is clear that a portion of the funds were used and the rest were returned until such time that we need more funds to continue.
The project manager is not bonded, he was appointed to oversee the use of funds as they were used by the operator who is bonded, insured and in good standing with Texas as per the Company’s research on the situation. If there is any information contrary such as invalid permits we are very interested in any links or supporting material to help us define any potential problems.
Management does not see any problems with the way funds were used as they have completed the objectives thus far which included connecting the well and allowing it to produce oil and allowing the Operator to complete tests and geological work to determine what our next course of action is. If there are any specific concerns that you wish to be addressed please let us know.
The Company has issued common shares for operating maintaining the business which has included legal and attorney compensation, accounting and tax compensation, acquisitions, debt settlement, management compensation, and past due obligations that were remaining when management joined the Company in February 2008. The Company has issued preferred stock as settlement of financing debt outstanding and for acquisitions. It is expected that the Company will continue to use stock as a means to operate the Company until revenues are sufficient to maintain and develop the business.
As reiterated many times, it has been managements plan through the acquisition of Aeon Holdings to utilize the subsidiary to make acquisitions and finance developments and build stockholder value so that Green Star wouldn’t have to use its authorized shares for the same purpose. This plan is currently in motion and Aeon has already established new business opportunities which will be disclosed as they are materialized.
Referring back to a previous post we believe you are asking the same thing again. It appears to clearly detail the facts but if you still have any questions we are happy to try to elabourate.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=45113620
Thank you for your share of concern. Currently management is very eager to update the State information to meet any compliance with the Secretary of State or any other agencies. As mentioned before there is currently a cash flow issue that has delayed this update. Legal counsel has not informed the Company of any legitimacy issues related to this default but the Company may not be aware of some regulation restricting the Company’s ability to conduct business which you have suggested. If you can quote to us these rules that would be very useful and we will forward to legal counsel to be addressed.
The Company is currently working on transactions such as mergers and acquisitions but is doing so through its majority owned subsidiary, Aeon Holdings or ticker: AEOH. These issues you are referring to are only relative to Green Star and not Aeon Holdings.
The Company is currently raising capital as needed and when it is available but cash flows are currently very limited while the Company waits for revenue from the project. The partners and operator also have vested interest to see production with invested capital already and they have pledged more support if needed. The Company put up funds already from the Committee financing and can raise additional funds to invest if needed. Based on partner discussions there is a push to complete the drilling into the Pecan Gap (sub 700’) as originally planned which is being decided on. Currently the project manager is waiting for update from the operator which will be made publicly available at that time.
Green Star Energies secured $100,000 for the purpose to re-work and bring the Eberle Well online as previously announced. Since the timing of development was uncertain and the financing was being done through promissory notes with interest, the Company did not take receipt of all of these funds at once. As per the request of the Operator and the approval of the Project Manager a portion of the funds received were dispersed to pay for the development.
The remaining portions were either returned at that time or were not sent since the Operator decided to complete and examine the well as mentioned. The notion that we took and used $100,000 is not correct. Management is in discussions with the Project Manager and Operator now to determine if anymore funds will be needed to continue development or drilling. An update will be available once decisions are made. Thank you for your questions
As previously disclosed the Company has signed non-disclosure agreements (NDA) that will likely lead to new developments including potential acquisitions and mergers which means we can’t disclose certain corporate details until these events have completed or the NDA’s are terminated. The capital structure for Green Star Energies as most recently available is 859,268,677 as of 08-31-09. This update shall be posted on the Company’s and Pink Sheets’ website soon. To reiterate all stock issuances have been done for compensation and to settle debts and that no common stock has been sold for financing purposes to date. Thank you for your request.
It appears as though you are suggesting GSRE would pay for something regarding Brandon Toth personally or for some unrelated Company but we don’t quite understand the basis of the statement. To make sure it is clear Green Star Energies has never paid for anything for Brandon Toth or Endeavor Power Corp and has no intention or plan to do so. The point of the previous post was that Green Star does not currently have the funds to update the Nevada filings for Green Star which is what we were referring too.
Green Star understands that maintaining status with Nevada is a very important matter and is giving it the attention it requires. Currently the Company is under capitalized as stated previously since we have not offered or completed any additional financings at this time. The Company is willing to explore all options and if the stockholders of GSRE think that diluting or selling stock to come up with working capital is something that should be done while we wait for our developments to materialize then that can be discussed with the shareholders. Management has spoken with several members of the Committee about a short term loan to bring some of these items current but the Company does not have a time frame to report at this time. Your patience is appreciated in this regard.
To clarify Green Star Energies does not have any information regarding any investigation into the company or its officers from any department or agency. Any agreements and actions the company takes passes our legal team and we believe everything is in order. If you have anything that you believe should be addressed please let us know ASAP and we will have our legal team review any such information.
Brandon Toth does not run any other Companies besides Aeon Holdings, Inc. and Green Star Energies, Inc. Brandon Toth has held an interim management position with Endeavor Power Corp in the past with this Company but resigned do to a variety of factors 4th quarter last year. The position was strictly administrative and he did not have any authority in decision making regarding projects or issuance's of stock. He has declined compensation and is rejecting the shares that were offered to him for compensation from the Company.
For your reference: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6962420
Thank you for the follow up information. This information is being forwarded to the operator to request a statement.
The information regarding Bulldog Well Services is believed to be accurate based on the press announcements the Company put out stating that the pressures were too great to drill and that the operator decided to produce oil / gas at the current level.
It appears they may have an issue with required postings and we will post any feedback we get from the operator on this subject.
The partners are currently deciding if production with a gas hook up is the best option here or if drilling the rest of the 700' is in the best interest of the well partners. Management stated it is believed that the remaining drilling is what the partners are leaning toward but does not have a specific update at this moment.
If you think a representative of the Company could answer any questions or help out please forward information on who should be contacted. Thanks for your information.
The Company looks forward to your consultation and feedback. Can you provide more details regarding which "compliance issues" and "DD information" you would like for the Company to answer? Thank you!
Thank you for pointing out your due diligence as it is very insightful.
To clarify, Green Star was informed by the operator at the time of that release that the rig was on site and drilling was commencing but in fact the operator did not drill the well as pointed out in this previous announcement,
"The operator reopened the well to prepare rods and drilling equipment but was met with overwhelming pressure which forced the operator to flare (or burn) the natural gas and produce oil at this level due to significant pressure of both oil and gas."
http://ih.advfn.com/p.php?pid=nmona&cb=1265944409&article=40190199&symbol=NO^GSRE
This lead to the operator recommending to start producing the well from the existing level which is why the separator and tanks were installed,
"As previously reported the Project Manager gave the authorization to purchase the separator and tanks for oil production from Eberle #1. The tanks are now on site and are installed, ready for production."
http://ih.advfn.com/p.php?pid=nmona&cb=1265944409&article=40478404&symbol=NO^GSRE
Your question about if there was a drilling permit in place or not was dually noted and Green Star management took the question directly to the operator. Management was told that they did not have a permit nor did they need one at that time because the pressure was too strong to begin drilling in the first place.
Please reply if there are additional questions that management can answer.
I am wondering who I can talk to about Company rights on these message boards. Thank you!
We will review the posts and attempt to reply to each of the questions. We were asking for specifics to be emailed / pm so that we could make sure not to miss any questions that were of great importance. If anything is overlooked please try to bring it to our attention.
There is nothing to hide here and we are open with all corporate activities to any stockholder who are willing to sign an NDA. Matter of fact the more help we can get the better. Outside of that we will answer all questions to the best of our ability and based on the available information we have. On top of that we are preparing a FAQ page so we can put many of the reoccurring questions on our website. Thank you.
This message has been approved by President / CEO Brandon Toth
Our apologizes,
"Can you send us a list of the questions? Sorry if it seems like that post was a run on, we are a bit stumped at how to handle all of these allegations and are still trying to stay focused on the prize with our current developments.
We find everyone's help and resources very useful and are happy to address them once replies have been organized. Thank you for any reply."
Our retained CPA is using David Christensen as secondary counsel due to his auditing background to help finish the audits and filings of Aeon Holdings, Inc., the Company's subsidiary. So far as we know that relationship is in tact but will be happy to follow up with him to confirm if there are any issues that need to be resolved.
Let us clarify several points based on your post;
In the correspondence you mentioned with the Company it was stated that we do not have any contractual relationship with Clayton Smith and that we have not had any contractual relationship with him at any time since at least when Brandon Toth has been in charge of the Company dating back to early 2008.
On top of that I mentioned I am aware of previous work he did with the former management of the Company but that we do not now nor have we since then been interested in doing any business with him.
Furthermore, his voice is not on the voice mail of the Company. It was checked after your allegation was made and confirmed to be Brandon Toth's. Several of the posters on here have heard his voice before, maybe ask them to confirm it for you by calling into the office.
Our office is located at the address you mentioned. It is shared with attorney Vic Devlaeminck which is verifiable if anyone wishes to go visit the office. Matter of fact there have been stockholders that have stopped by and visited. We have no need to take on additional overhead to support a larger office when 90% of the Company's operations are in the field which is why we are sharing the office.
I don't know anything about any potential investigations that you seem to know about as we have not been contacted by anyone with any inquires but would be happy to accommodate any interest. I have done my best to rebuild this Company and work with the proper counsel to guide every decision. If you have in fact made contact with someone who is doing an investigation then it would be a priority for the Company to contact them and provide full co-operation on the matter.
While there are clearly items that need to be addressed it is my belief that the Company has properly conducted business. With everyone's help here I am very interested in working with anyone who thinks we can make this Company better as stated in my last post.
The Company has nothing to do with "Drake Gold" or "North Star Diamonds" or "Tara Gold" as we have nothing to do with Clayton Smith. You would have to contact those companies to seek any comment on anything of the sort.
This message has been approved by President / CEO Brandon Toth
We want to thank everyone who has been staying very active on the boards and sharing their point of views. It is not often a small cap company can command such a following.
Brandon Toth originally accepted this role as President in 2008 because some of the stockholders needed someone to try to turn the Company around and they approached him to help them since the former management was not interested in doing so. Starting off in the communications and getting to know a series of stockholders Toth felt like this could be an opportunity to help them and potentially create a successful venture for himself.
The reason we have brought this up is in an effort to bring us back to the root goals that we set up for the Company and what our intentions were then and still are today. We know that we have not been problem proof and we know we haven't been able to maximize the value here as quickly as some might have hoped but we are still here and still continuing to address the problems this Company has and attempt to move it forward into success. We have done this to date without selling any shares into the market.
Our goal for this Company has not changed; seek to clean up this Company in a value extending effort and avoid pitfalls that might create negative impacts on stockholder value while focusing on maximizing our current assets while seeking new joint ventures and / or acquisitions to grow the business.
We feel with the amount of passion and effort many of you put forth to post about this Company that we should do our best to work with you and address the important issues you see and make a running list of items that need to be addressed or updated whether it makes immediate sense to us or not.
While we am restricted to federal securities laws and contractual obligations we will do our best to interact with each of you and utilize your suggestions and any concerns.
Since we have refrained from expanding our staff to accommodate the work load in the effort to minimize expenses we are limited by the demands of our current activities and may not be able to post on here as often as everyone would like so please bear with us. If you would like a reply to something specific or to add it to our running list please reply directly to our post or private message us so I can make sure not to over look it.
Thanks again for everyone's time and support.
Green Star Energies, Inc.
CEO / President, Brandon Toth has approved this message.
Very good post, thanks for the feedback. I agree with you, it is all about jobs and if we are losing jobs or they are going overseas then the economy is bound to stay weak or get weaker.
I don't personally see to much stability out there on anything including oil / gas prices. I think it is about playing the opportunities that present themselves but I see real potential in oil business over the next few years.
I will be sure to check out MO, amazing 1 year chart.
It has had quite a move since its bottom @ $35 but it really depends on oil demand or prices that is. A short term dip is probable, what do you think?
Very good article on potential of a continued spike in 2010 for NG.
"The fix is underway" says Chesapeake Energy in their April Investor Presentation. What they mean is that natural gas prices are going back up this winter. The number of rigs drilling for natural gas is going down. Fewer rigs means fewer new wells and eventually less natural gas and higher prices for consumers.
This is the third article investigating the possibility of a spike in natural gas prices during early 2010. In this article we look at the scenarios Chesapeake has created based on the how low the drilling rig count goes (shown in Figure 1). And we dig a bit into the other factors that could increase or decrease demand for natural gas.
Conclusion
The drilling rig count has fallen to the point where the market should balance in early 2010, if Chesapeake's assumptions are correct.
If a further drop in the rig count happens or if the decline rate is faster than assumed, then production will fall well below demand.
Shortfalls in supply will be moderated because of a continuing decline in the industrial sector that will be slow to recover and because storage is currently high (and possible shut in production coming back into production as prices rise).
http://www.theoildrum.com/node/5323
Many are starting to say demand is weak and oil is only trading at a premium due to the weak dollar and the recent cold. What I find interesting is we are trading at quite a premium compared to historical prices and yet we are still not out of the woods yet so far as economic recovery. What happens when world demand starts to pick up if we are still in the $70 - 80 range...?
If you are a long player what stocks are you looking at for 2010? I am pretty bullish both oil and gas prices and business.
The Labor Department report sent the dollar sharply lower early in the day and because crude is bought and sold in the U.S. currency, anyone holding euros could buy more oil.
Benchmark crude rose 9 cents to settle at $82.75 per barrel on the New York Mercantile Exchange.
Any bullish economic indicators and oil demand will pick up or at least the perception of it will. 2010 has a very strong outlook for oil IMO.
Great action on LPIH, do you have any other oil stocks on your radar? Do you care if we post some charts this board of other stocks?
When it comes to posting the charts on IHUB how do you upload it? Are you uploading it somewhere and copying the code? Thanks!
Who do you use for your charts on this board?
Good points to consider for oil in 2010:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44662857