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It is TIME. It is time for the investors to say to the Harland's that "we are not going to take it any more!" "We are tired of you paying yourselves absurd salaries in shares and then dumping them on the market. You have artificially destroyed the price per share, and your actions have not been consistent with the best interests of the shareholders." The way to get rid of the Harlands is to demand a shareholder meeting as required by the Nevada Code and elections for the Board seats. You guys can vote some of your own, fellow shareholders, on to the board. The board can then fire the Harland's and hire competent officers.
Guys, this is your only chance to save your money!!!!
3:59, right on schedule, the price gets bumped right back up. Yahoo!!! No market manipulation there!!!!
Kaleo, you still have 90 minutes to do some more buying!!! It is the chance of a lifetime!!! Price may never be this low again!!!! Buy now before the SEC takes action!!!! Go, Gler, GO!!! Best company ever!!! Revenue Coming Soon!!! Generational wealth to be made!!!!
At 3:59:59 a sell order will go thru that pulls the closing price back up to .0029, GLER shareholders have nothing to fear.
The past two days at 3:59:59 we saw a spike in the price of GLER. I thought the first day it was a bit odd. However, the second day it seemed even more odd. I will say I have seen this in other stocks. I heard an explanation one time on CNBC. They suggested this could be a trade made within a brokerage earlier in the day that has not been sent through the DTCC. At the last moment of the day, the brokerage house reports the trade. I never quite grasped why the brokerage house would do that but all the CNBC financial wizards seemed to accept the answer.
If anyone has an alternative explanation, please post it.
Housefly:
Here is how letters of credit work. So, Sydney finds a Korean buyer for coal. They talk on the phone, exchange emails but don’t really know each other. Sydney does not want to ship $1 million dollars worth of coal without being sure he is getting paid. The Korean buyer doesn’t want to pay $1 million dollars with being sure he is getting his coal. The Korean buyer could send someone to stand with Sydney and monitor the load up. Once that is done, the liaison could call back to his company and have the money wired. Sydney would be safe because before the train could leave the station he could verify the money was received.
However, that is not the way companies typically interact. Rather, the Korean buyer would deposit money in a bank both companies are comfortable with for payment of the coal. A letter of credit would then be issued by the buyer. Letters of credit are almost the same thing as checks except the have a special condition or conditions. For example, the letter of credit might tell the bank to pay Sydney $103 a ton x the number of tons when he provides a shipping order for the coal with an agreed upon common carrier. This system allows Sydney to be paid within hours/days of shipping but still provides the buyer with some assurance that they are not being ripped off.
Every letter of credit is going to have some language that terminates it. It may be an expiration date, a prior shipment of non complying goods, a change in market price, etc. The revocable/irrevocable letter of credit is for MBA student final exams and isn’t a practical reality in the field.
Here is my problem with the Shinhan letter of credit. It says it isn’t “binding.” By definition, that is not a letter of credit. It also tells me with certainty that Sydney is not a sophisticated businessman (I am stating this in the mildest possible terms). It also does not clearly identify the parties or the conditions.
So Housefly, you say there are lots of different letters of credit. So, what kind is the Shinhan letter of credit? What are the terms? And how does it do anything to help Sydney believe he will be paid anything?
Housefly:
I work with letters of credit routinely...need I saw more?
Housefly:
Try this, http://globalearthenergy.com/News.html If it doesn't come up, search for global earth energy's website on yahoo/google. Once your in it, look under the Recent News/Press tab. I think IHUB blocks links sometimes, this may be why you got the error.
A word to the wise, do some serious DD before you buy.
Housefly:
It is the "letter of credit" they announce on their website, http://globalearthenergy.com/News.html. They claim it is with the Shinhan Bank. Yes, the Shinhan bank does have an office in NY. See the first link on their website. Housefly, do you honestly believe that document is anything but a fraud?
Corporate Theory 101:
All corporations operate under the same basic theory, it is...
1. The shareholders elect the board of directors.
2. The board of directors hire the officers, CEO, CFO, etc.
3. The officers run the corporation on a day to day level at the pleasure of the board.
So, investors, how many times have you had the opportunity to vote on a board member? Is it zero? If you could, wouldn't you like a bona fide investor on the board rather than just the Harland's drinking buddies.
Thewolf1: I agree with you about the letters of intent. However, the real scam is the "letter of credit." A letter of credit is a binding 3 party contract. GLER's letter of credit says it is not binding, doesn't identify the parties, doesn't identify the contigency for payment, etc. I think that document is the one the will be the death nell for GLER. It is unexplainable from a business or legal perspective.
What happened to this website? Someone deleted all the information about ReFlora de Brazil and the big carbon credit deal as well as the RCI Solar deals. This was important information for investors to consider. It showed a nice pattern of failure that future investors may wish to consider. Ohh well
Paulsw42:
This is the first PR that I can recall that pushed the price of GLER lower. That is not a good sign. There is no catalyst to push the price higher until the next PR, which may not be all that helpful to investors. If you really believe in this company, you may want to save a few bucks to make one more buy when the sock drops under .001. I still think the only time to buy is at .0001.
GLER investors were so excited about a press release from CEO Sydney Harland that the stock hit a 52 week low.
A 10% haircut is nothing, just wait until tomorrow!
Browland1:
I am guessing the volume is the Harland's dumping their shares, they probably know the game is over.
.0026 is going to look like a pretty good exit point by this time tomorrow.
Horsefly777, is your real name Spiros?
Housefly777:
Good luck with your investment.
Horsefly777:
Any news on the six contracts?
Horsefly777 said;
Hey, Ceenote, any followup to your Friday message that Sydney said the PR would be released later that day?
Why Incorporate in Nevada?
From the Secretary of State website, http://nvsos.gov/index.aspx?page=152
"Nevada corporations may issue stock for capital, services, personal property, or real estate, including leases and options. The directors may determine the value of any of these transactions, and their decision is final."
Sound familiar? That is how they pay themselves and where the stocks you buy come from.
You theory seems reasonable, and it may be a good reason to buy one of the existing producing coal companies or a shipping company.
I have no inside information, everything I know has been researched from publicly available sources. I posted most of it on this site about a month ago, I found the evidence to be pretty compelling. I do have some personal knowledge of the coal industry and documentation related to international transactions. I just have some intuition from being in the game a while based on some of the inconsistencies in information the company has presented and my knowledge.
Paulsw42:
"M&M have already stolen everything" referred to Metter and Moskowitz, the CEO and CFO. Those guys are penitentiary bound, maybe they are already there. The had a multi count federal fraud indictment. You are correct, I bashed them too but I did not invest in them either.
If you think there is no way I would buy GLER stock, you are incorrect. I think their plan is to keep the pump and dump going til its no longer feasible. They will then hint at a BK and the stock will fall to .0002 or .0001. After that, they buy all the stock back slowly, change the name of the company and they are off to the races again. I will load up the boat at .0001 if the BK threat is medium to moderate. This theory assumes that the preferred shares they claim to be selling are a phantom of imagination.
Paulsw42:
Whatever the MM's did or didn't do to this stock, they did not prevent Sydney Harland from notifying his shareholders as to the status of the Samuel mine deal. The Korean buyer who supposedly issued a $28 million dollar letter of credit may be curious about what is happening as well.
I am not a believer that NSS of penny stocks exists. But even if you do believe NSS of stocks like GLER is prevalent and it artificially impacts the price, Sydney could buffer against that by announcing he and/or Modern coal now own the Samuel mines. Additionally, that the Bank of Shinhan will be doing its inspection in order to release the funds, as provided in the letter of credit. However, he has chosen to leave investors in the cold. Why, you be the judge...
I will say one thing, the members of the board seem pretty accepting of the lack of PR today. Well, maybe next week and then again, maybe no PR next week either.
Paulsw42:
I am not trying to be difficult but I don't see the connection between NSS and Sydney Harland's failure to issue a press release (or GLER's failure to earn any profits). Am a missing something?
This is a quote from GLER's website....
“All relevant information pertaining to the Company and which contains information disseminated by the Company or with the Company’s approval is published via press releases issued by the Company and also via Form 8-K and/or other filings, by the Company, made with the Securities and Exchange Commission. Furthermore, the Company does not make any material disclosures of non-public information regarding the Company or its business operations except in compliance with Regulation FD to the Securities and Exchange Act of 1934 and all other applicable securities laws. The Company encourages all interested parties to review its filings with the Securities and Exchange Commission which may be viewed online here(SEC Filings-new window will open).”
http://www.globalearthenergy.com/Global_Management.html
Horsefly, how did you come upon the information about an accounting firm "accrediting" the company and the "seven million dollars a month for a minimum of three years"? If this information is accurate, GLER stock is worth at least a dime a share.
I am sensing a little hostility on this board. Are some of you unhappy that the press release you were expected has not happened yet?
Deer22:
If you think I violated the law, please feel free to notify the SEC.
From the SEC Website:
Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security. Insider trading violations may also include "tipping" such information, securities trading by the person "tipped," and securities trading by those who misappropriate such information.
Examples of insider trading cases that have been brought by the SEC are cases against:
Other persons who misappropriated, and took advantage of, confidential information from their employers.
If Horsefly777’s statement "GlER will post the six finalized contracts tomorrow" (I do not believe it is) is true and you trade based on that information, guess what…..
http://www.sec.gov/answers/insider.htm
Horsefly777
A company does not get accredited to (or by) the SEC from some law firm. That is just a dishonest statement. Accounting firms audit and certify certain documents for the SEC but not law firms.
Lobwedge22:
The truth is that I would say something positive if there was something positive to be said, but there just isn't. Well, wait, there is one thing positive. I don't think the SEC has issued a Wells Notice yet.
The end is in sight...
Everyone has a hidden agenda.
What could Sydney possibly say tomorrow that will make this stock go up? I paid 7.5 million for a super fund site? The deal has been postponed because the lawyers are working out the details? I have a MOU with a Chinese coal buyer? We realized after we bought the property that there is an unlimited amount of natural gas on the property? What? You dreamers are toast. Once the bulk of investors realize that this was all hype, the price will be cut in half, maybe .0015 if you are lucky. This company has no product other than to release PR and sell stock, stock they supposedly earned for rendering services.