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What exactly are you trying to claim is the negative here? Why would Todd deregister the securities? He's being paid a 240k salary from this company, i'll argue that at least in the near term, the ONLY way he'll get this salary is through dilution (something he's been very forthcoming in saying is necessary). So...what's his incentive to deregister the stock if it isn't a stepping stone in the merger process????
Probably won't see that kind of volume on this symbol, no. Which is why i think Todd has been so aggressive at finding another company to JV/Merger (emphasis on merger).
My only concern at this point, is that there's a small chance he's pushing for a merger into a non-DTC chill stock with the sole intention of heavy dilution for cash pinata reasons(reminiscent of previous LHPT CEO's). Personally, i don't think (and hope) that's the case but it is a small possibility. However, with some of the moves he's made; actually getting wells online and producing, not using paid P&D campaigns, regular website updates, and even buying shares in the open marketplace, if he is just intending to dilute for his own personal gain, it makes me almost just gracious to give him my money. 'Cause, if it is just a ruse, you almost have to applaud the complexity (it would be like Ocean's 11 stuff).
Probably because production is so new they don't want to estimate it. What's the point? Todd has already gone on record at the shareholder meeting that this is a DTC chilled stock, meaning it's going to be hard to trade it and move the PPS in the open market. We're seeing this with the 160 shares buy/sells that are dropping PPS by 30%. This is just my guess, but given what he's said and his bold move buying his own shares in the open market, he's not interested in pumping the stock up with PR, he's interested in getting oil out of the ground. Once that really gets going, the stock (and the DTC chill) will take care of itself.
From the teleconference, it really appears this isn't going to "fly" until the DTC Chill gets lifted. CEO is actively taking steps to try and remedy this situation, but until that's cleared, this will likely trade below value.
I assume the "small position" you took wasn't the $1.36 trade for 160 shares, eh? Love MMs!
Love how $39.15 in trades can drop the price by 10+% but close to a million shares can't even budge it upwards.
http://www.marketwatch.com/story/us-plan-could-make-too-big-to-fail-bigger-2011-02-11?siteid=yhoof
Exactly, FNMA is going to exist in one form or another.
agreed!! i guessed we'd probably have a pull back somewhat...but i didn't think it would ever make it back to .30. I, in all honesty, thought we bottom around .50. Guess we may test that this afternoon though, who knows.
i sure hope you're not right, even though it sure does look that way in the early goings.
not sure why you think that news in any way implies the complete zeroing of the current shareholders. do you really think true "privatization" of these firms means 100% takeover by private interests? I'd love to see that even attempted to be accomplished, the balance sheets are just too big.
I think you may be confusing the terminology. The distinction is between private/government....not private/open market equity which is what i believe you're thinking of.
whoa, 7million share buy at .0014.
Depends on who you're talking to. Kellyco would say it's "Piece of S*^t". In this case though, I'd like to think it means, "Probably Over-Sold"
Just my opinion here, but the republicans are just itching to try and get rid of Fannie and Freddie. They need a scapegoat for the financial crisis...more specifically, they need one governmental so they can say, "see, look what big government got us into". In reality, it's the banks lending and speculative practices that were the underlying problem which, of course, is just the opposite of their narrative that the free market is pure and sinless.
I think Fannie and Freddie aren't going anywhere, at least not anytime soon.
http://www.paxtonenergy.us/
Check here, they've got Glenn Kennedy listed as VP Operations.
This I'll agree with. It's one thing to say they've acquired a majority interest...it's a whole other thing to give details about what that entails. I'm hoping for a PR soon that says, production began and we're getting xx BOPD. Until then, the rise in value does just appear to be a lot of crossed fingers (mine as well).
Just my opinion, but the impression i got from the PR was this company is partnering with another company that may actually have the capital to get the wells producing, something that LHPT on it's own has clearly been unable to accomplish.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=37697
Best i could find. Little over 280million outstanding as of Oct 12, 2010 (about 46million more than in April...20% more). There hasn't been the volume for massive dilution since then, even with the recent kickup.
That it is, I still can't figure out if that's good or bad...
Wonder when Paxton hired Glen Kennedy?
http://www.paxtonenergy.us/management/d-glen-kennedy-vice-president-operations
or..or...they were created to offer government backing to mortgages to keep interest rates affordable for less than flawless credit borrowers.
Banks abused the system for short term gains (with some help from crooked ratings people).
Great post. Exactly my sentiments towards the GSE's and the viewpoint on the Lay-American as well.
Wow, just wow. and we never landed on the moon right? And JFK was killed by ninjas.
good question, it's clear that the proceeds of EKWX's stock offering (since they never made a cent in revenue) went to finance the purchase (seed money) of BE's shares.
Part of their (BE Resources) "seed money". So at or near company formation. The quote he pulled that from is from the Prospectus Long form filed by BE Resources on 07/09/2008.
BE Resources outstanding shares are 19.7million. So i guess you could say our EKWX owns 2.5% of BE Resources? I'm pretty new to the float and what that means in the big picture.
that slays me, 35,000 trade and it drops a tick. Thanks MMs!!
rally started a full week before that PR, can't be based on that. Unless you're claiming insider play.
Feel free to elaborate a bit more in the Beryllium. You dig something out we don't know?
that's quite possibly the most bizarre set of emails and reactions to honest questions i've ever seen. I was hoping your conversations with him would add some validity or, god forbid, take it away from the R/M rumors. But i'm more confused that ever....my brain hurts.
Please Save your Cash?
be careful using pos as your abbreviation for positive. When i see pos i think of the acronym.
I actually have lived in Stillwater, OK for 10+ years and have never heard of Barrington Enterprises here. May drive by that address later but pretty sure that's not the company listed on the Wyoming site
may have absolutely zero bearing but i do find it oddly coincidental. there's a company called BE Resources (BE may be a derivation of Barrington?) in New Mexico which is traded on the Canada exchange. Godin sits on the board as chairman and they're into Beryllium.
Page 4 of this
http://www.mergent.com/documents/UNL_NEWS2_077.pdf
http://www.beresources.com/overview.php