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People have been talking a lot of talk, but after all that has gone on and happened in regards to the mess called QASP I don't know how anyone can trust anyone else in this mess at all. It seems that it has been nothing but failures and lack of follow through by each party on all accounts, especially my bank account.
CoreStream Energy announced today significant changes in its management structure and a general update on some of its current business issues Print E-mail
Dear CoreStream Energy Shareholder,
CoreStream Energy announced today significant changes in its management structure and a general update on some of its current business issues. On April 26, 2011, Paul Niedermeyer resigned from his respective positions as a member and Vice Chairman of the Board of Directors of CoreStream Energy, Inc. (the "Company"). On May 1, 2011, Milton C. Ault, III tendered his resignation as a member and Chairman of the Board of Directors and President of the Company.
On May 1, 2011, the Board of Directors of the Company appointed Lewis V. Graham as a member and subsequently, Chairman, of the Company's Board of Directors. Mr. Graham was also appointed both President and Chief Executive Officer of the Company and will continue in his capacities as Chief Operating Officer and Corporate Secretary.
As last reported, the SEC temporarily suspended trading in the common stock for the period of March 31 to April 13, 2011. Subsequent to, and as a result of, this 10 day suspension, trading was resumed on the OTC Grey Market, which makes trading difficult for a number of reasons, including the lack of market makers. Currently the stock continues trading on the Grey Market under the symbol ZLUS.
From the day the Company learned of the unexpected suspension it has worked diligently to resolve the issues that led to and resulted from the suspension. Additionally, it has recommitted itself to building a first class, successful oil and gas company, and has redoubled its efforts to respond to SEC information requests in a timely manner.
Below are our updates regarding a number of key on-going items. We are committed to being as transparent as possible. With that in mind, here are our updates for your consideration.
We have been informed by counsel that the SEC is pleased that we have employed legal counsel to assist in our response to their inquiries. The SEC has provided current management with an updated status report regarding information it had previously requested in the later part of 2010. Both directly and indirectly, through the companies’ SEC lawyers, we continue to assemble the information requested and provide it to the SEC in an ongoing and timely manner.
With respect to re-establishing the Company’s trading on the Pink Sheets, the process requires the cooperation and commitment of a market maker. The market maker assembles the necessary forms and supporting materials for submission to FINRA to request re-instatement. A market maker has been selected and completion of the required documentation is in progress. At this time it appears that the submission might be accomplished as early as the end of next week. Too many factors, including the review and approval by FINRA, prevent a precise estimation as to when a successful re-instatement may occur.
An ongoing concern for us internally, and with the SEC, has been the late filings of Company audited financials. While the Company has been using its best efforts to close the gap and catch up, recent events have motivated CoreStream Energy to further accelerate the process. CoreStream has committed additional personnel and financial resources to expedite completion of 2010 10-Qs for the second and third quarters and the annual audit.
We continue working to complete our due diligence and to verify and evaluate the Kentucky and Tennessee well production data and the operating expenses upon which the original commitment to purchase 18 wells is contingent. A final decision and closure on the opportunity is expected to be made in the next few weeks.
With respect to CoreStream Energy’s initial successful oil well investment in State Lease #2 in Louisiana, the Company expects to receive production data from the General Partners in the near future. Well documents show it was officially completed for production on March 23. Recent flooding in the Mississippi Delta may have an impact on initial operations and production.
CoreStream Energy appreciates the interest and concerns of its shareholders and continues working to restore normal trading and to build a profitable energy-based company we can all be proud of. Please feel free to share this shareholder update with others. The Company will post this announcement on its web site as well.
Respectfully Submitted,
Lew Graham
CEO and President
I would have taken it though ;)
you should just be able to push the public access button and it will take you in.
mine only took 15 as well.
Has anyone heard anything about the recording of the conference call? Where it is posted? I missed it and would like to listen to it.
I didn't like the part were Dean would create Promissory notes on a whim and date them whenever he wanted and I am sure he paid himself back for them with shareholder funds.
Did Joe do the same with his supposed notes?
GOOD LUCK IN COURT TODAY...QASP CEO JEFF DIGENOVA!!!
http://pr-usa.net/index.php?option=com_content&task=view&id=669248&Itemid=30
I don't remember seeing this one and it just popped up in my Google alerts.
I say anything goes!
When I read that news I wanted to vomit all over and then buy a plane ticket, find the Fearsome Foursome (Joe, Josh, Dean, James Ray) and have a cage match with all of them. I'll take them!
I too want to do something. But what can a newly married college student do when scammers already stole every cent I have?
GO JEFF! GO JAMES! I SUPPORT THE MERGER!
http://www.centaflix.com/news.html
We need to get the scum of Joe, Josh, Dean, James and all others out.
GO JEFF! GO JAMES! You have the real shareholders support!
Could it be possible that Owens is in fact concerned about the common shareholder and sees the possibility that,
"the marketplace must learn to incorporate considerations of distributive justice (consideration for the good of all) and social justice (a society is only as good as how it treats the weakest and most vulnerable members in society)."
-Pope Benedict XVI
I like this part from his website.
"Mr. Tomchin is AV® Rated by Martindale-Hubbell®, the highest peer-review rating available for excellence in legal practice and ethics. He is one of only 11 Jacksonville lawyers certified by the Florida Bar as a Specialist in Business Litigation."
If he wants to keep that he better check who he is associating himself with.
Done and done. Out with Dean!
Where is the fun in that? The drama of QASP would begin to subside and I'd have to start watching tv again.
From Mr. Owens in response to a question about the connection between Centaflix and megameetings. He said this was the 20 time he answered that question.
"We own all rights to our educational E -Learning Connects software. Let me explain how software is created. One a company comes up with a concept, then the programing begins and you farm out code writing to outsources in place like India to build modules that when finished come back to you for integration. Next you need a platform to distribute the software, a company to market the software and bandwidth to host it as well. The owner of the finished product ( the one that paid the bills ) gets the rights to end result. No one person can do all these things and the company that has these connects / partners creates new technologies and that is is trade secret that makes them successful. We protect all our creative work with US patients, copy writes and trademarks.
Hope this anwsers your questions.
James"
I certainly hope so. They seemed to hint at something on the phone.
Ya, we have similar stuff here in Utah, Vernal to be exact, but my company deals more on the installation of pipelines. We'll drill under a road, river, lake,...whatever is in the way, and pull the pipe back through.
Try not to but what can you do sometimes.
Thanks, much more of an elegant way to put it than I could. exactly what I wanted to say.
Yes but it hasn't been proven that they are lying. They said that megameeting is an affiliate, could possibly mean that they exchange software with each other for the profit of each company. My company does that with other companies and it really saves both companies a lot of money...we don't really know at this point. It is way to early to call this one a lie.
What about the work they are doing with the University of Pheonix? Is that not viable at all?
I agree completely. Looking forward to the coming months!
Seems that Adam is directing all calls like that to Centaflix and Mr Owens. Why the hush hush over there I don't know. but something if the are tight lipped about it.
Good question hopefully I can get more information when I get a call back.
I called centaflix they answered and said that megameeting is one of over 420 affiliates. I called megameeting and was sent to the voicemail of the man who works with centaflix and left a message. There is a connection, that is confirmed. Hopefully I get a call back soon from megameeting and they shed a little more light on the matter. Why don't you give them a call and see what they tell you instead of having me do it for you. I am happy to share what I learn for myself but if you have questions on top of what I find out, for myself, call. it is really easy.
Haha, for sure. I wish I lived close enough to take a gander at their office and see what is going on. Hopefully things come together sooner than later eh?
Just because the company was started in 2004 means nothing. When they started they could have been using an inferior software and updated to Centaflix when they released the bigger and better package. Just like I upgraded from Vista to 7.
No problem, stuck in the office doing nothing at work, may as well make it productive for me anyway. haha.
Haha, I know I rather enjoyed the conference call and talking to the company on the phone is enough to get anyone excited...if they actually take the time too call.
By the way, with 420 affiliates using and selling the product...do some thinking...$$$$
Just remembered the last part of the call, when centaflix sets up a meeting like that they said that the meeting could go through any of their affiliates. It just happened that this meeting went through mega meeting...at least that is the way I understood the technical details he gave me.
sorry i realized that was unclear and edited it. Centaflix is the head and the holder of the technology patents. megameeting uses them.
They also said that all of those affiliates use the Centflix technology. Centaflix is the head not the other way around.
Just called centaflix, they said that megameetings is one of their 420 affiliates. If you have questions call and ask the company they are very cordial and professional people.
Thanks
I am currently an online student. My program pales in comparison to what is going on here. What Centaflix has to offer will greatly increase the learning and retention students get from what I have seen of the technology versus what I use.