Why?

DD, you did some nice work on the info on the site with UNGS.

Couldnt agree more. The company needs to sell shares to finance the company now. If the asset sell was final, then they wouldnt need to dilute. But, I dont think the sell will go through.

couldn't agree more. They have their wells now, just get them operating.....I think this company is about a year behind schedule. I listen to the CEO over a year agon about getting 500 barrels a month, etc... and being break-even in this quarter of 2011.

Not much can be found and it seems theres a lot of LLC's associated with NW Florida with the below people. I can see peoples concerns on pump penny stocks, but UNGS didn't put out a PR on this deal. Most companies would pump the crap out of this type of news. Investors only did find out through the Q1 10Q.



Northwest Florida Operations, Inc. has a location in Tallahassee, FL. Active officers include R Richard Yates and R. Richard Yates. Northwest Florida Operations, Inc. filed as a Domestic for Profit Corporation on Thursday, July 17, 2003 in the state of Florida and is currently active. James R Guerino serves as the registered agent for this organization.

Why would I be selling. Just stating a fact.

Did you miss the 18m at $.0031?

A big 100 shares went off at .005. Not sure what that was. The 18m shares at the ask is scary......

Com’on guys, all people have their opinions. I too own way to many shares at higher levels. Lately mgmt. has been terrible with communication to shareholders. They have no problem putting out fluff PR’s pertaining to new wells and potential revenue over a two year period, not the next 12 months. (just trying to put a bigger number in the PR) Then to just talk about Revenue and not how much the company paid for the wells and how the company paid for them (shares or cash). I’m assuming shares with all the dilution going on. Then always being late in the SEC filings is also a reflection on mgmt. One more bitch and I will be done. Whatever happen to the asset sell of properties in West Virginia???? This is a huge transaction and NO communication other than putting off the year-end shareholder meeting because of this deal closing on July 29…..This company could have some much potential if mgmt. was better at running it. I’m frustrated and if the dilution does stop and the company starts executing on the oil wells to finally get some revenue, give the shareholders some guidance, then this company could finally reach its potential (meaning share price much higher than these levels)

Not much trading / selling going on today. The 10Q is due today / tomorrow. Interesting to see what the outstanding shares will be....

I couldn't agree more, but someone or the company are still unloading shares....

8K just filed.......Knew they were diluting, but looks like more to come.

Item 5.03 Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year

On August 2, 2011, the Board of Directors authorized and shareholders holding a majority of our outstanding voting capital stock (the “Majority Shareholders”) of US Natural Gas Corp (the “Company”) have approved the attached amendment to the Articles of Incorporation (the “Amendment”) with the Secretary of State of Florida. Pursuant to the Amendment, the Company increased its authorized capital to authorize the issuance of 500,000,000 shares of common stock, par value $0.001.

The foregoing summary of the Amended Articles is subject to, and qualified in its entirety by, the Amendment to Articles of Incorporation filed with the Secretary of State on August 2, 2011 attached hereto as Exhibit 3.1

Per the last 10Q, the Authorized was 300,000,000 and the issued and outstanding was around 204,000,000. Of the 204m, 43m shares are stock warrants. I'm sure the O/S is now around 260m shares. We will find out in about two weeks with Q2 results are out.

Well, they keep on acquiring other wells, which is great, but the dilution will still happen until the money is paid out. Looks to me the company which UNGS acquired the 25 oil wells has been completed, but these others probably not.

The bigger question now is what is going on with the "Asset Sale" that was completed per UNGS PR last week on the 29th of July??? I've sent emails to their PR person, but no response. The deal per their last 10q was that the company buying the assets was giving $600,000 in cash, assumes $2,000,000 of debt, and payment of $1.4m over five years for wells in West Virginia.

The company has no problems issuing pr’s on new properties, but never tells how much or how they are acquiring these properties…….I guess they feel that the purpose of a 10Q (which is due in 2 weeks for the second Q) is to give out specifics of deals….

Anyhow, some frustration here, but I still feel the company will come around and people will be rewarded eventually.

If I recall from the last 10q that the cost to acquire the 25 oil wells in Kentucky was $200,000. Which makes sense of the volume last week. I think the company gave 40,000,000 shares up to get these wells, maybe more until they get $200,000. That’s why the ask keeps on getting killed. 500,000, 1,000,000 share blocks.

I own a lot of shares here, but the company most be diluting....Not sure why with the great news lately, but who else would be selling???? A retail investor would be loosing money here selling at these levels....

The last 10q the total outstanding was around 203m shares of which 43m shares were stock warrants($.25) Float is around 160m.

I would like to know who’s selling at these levels on todays news. 203m shares outstanding of which 43m shares are stock warrants that can be exercised at $.25 a share. Around 160m shares in the float.

When was this interview taped?

I agree. I think the dilution has stopped, no need for it in the future when the deal goes through. As of their last 10q, UNGS had around $2m in liabilities that will be assumed by the company buying the wells in West V. In addition, UNGS will be getting $600k upfront and $1.4m over 5 years. This deal will enable them to concentrate on oil wells in Kentucky which in turn will hopefully bring profitability in the next six months. This is all dependent on the terms set in the 10q haven't changed. If not, the price for sure can go over $.10 and beyond

I think the share count is around 210m shares, which 43m shares are stock warrants with an excercise price of $.25 per share. The true float is around 167-168 million shares.

Something is going on. UNGS has been pretty silent in the last six weeks. Maybe some good news is leaking out down in Florida...

This info was filed a while ago...Were you trying to make a point?

Some interesting trading going on with this potential deal in the works this week or next.

I think something is brewing here that will be positive. I'm thinking the deal with go through on the WV gas wells and then the deal on the additional oil wells in KT will be finalized....JMO

Com'on Grey, if SNRS hasn't been shut down by the SEC by now after about 100 PR's over the last six months and all the complaints filed, then I think SNRS should be fine legally. (Financially is another matter)

I agree. UNGS will eventually payoff.

I received the samething...

$2m for certain assets in WV and $2m in debt which would be about all of UNGS debt on the balance sheet. I think more than half the wells aren’t in production and this is an exit strategy because they don’t have the funds to get these wells going. I also feel this is a great deal for them to get cash and get rid of all their debt. They have Kentucky oil and gas wells and have another deal in the works for additional wells for $200,000. UNGS is keeping some of the deep wells in WV and selling the rest.

A lot of shares getting dumped today.....

Somebody is grabing up the $.0001. I sold today (110m shares) and put them all up at once and they sold in around 10 seconds from my etrade account. I broke even, but it was really weird how fast they were sold. I've been a shareholder for awhile and just feel my money is better elsewhere. Good luck everyone

Part of the 10Q just filed........

ITEM 5. OTHER INFORMATION

On May 3, 2011, the Company received a Letter of Intent (“LOI”) from Northwest Florida Operations, Inc. (“Buyer”) for the purchase of certain assets and assumption of certain liabilities under control by US Natural Gas Corp WV. Under the terms of the LOI, the Company is to receive consideration in the amount of Two Million Dollars ($2,000,000) with Six Hundred Thousand Dollars ($600,000) to be paid at closing and the balance over a five year period. The Buyer is to assume approximately Two Million Dollars ($2,000,000) in liabilities. The transaction is scheduled to close on or before June 15, 2011. There are no guarantees that the transaction will close.

My issue is this, when MOS sold those 2Billion shares, wheres the money????

Couldn't agree more....

Some serious volume today. I never seen 7m shares trade in a day....Price is holding up too...

UNGS will continue to dilute until the company can get some financing or the company starts making some money. The only type of financing they can get now is to give out shares to vendors for accounting, consulting, well supplies, etc.. I can live with the fact the share count may get up to 250m shares or so, but they better be profitable. Wayne Anderson is getting the wells operating( Oil and Gas) and being very methodical in doing so to keep the costs down, etc, but man it’s taking a while. I thought they were close last fall to be breakeven, but I was wrong. I may average down some from my $.011 average, but I feel it will go lower before the price recovers. Risk and reward investment here.

Sounds a lot like SNRS......but its not...



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Who's buying the 2B shares if the company is dumping the shares?

The true float of the 108m is really 65m once you back out the 43m stock warrants....and agree, this baby is way under valued...

We will see $.25 in due time, but not in the near future. UNGS will show some huge improvement over the next two qtrs. Getting in at this level will pay off huge this summer / fall...