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"That was just intended." Clayton is the "Intended KING". It's always INTEND to do this, INTEND to do that. Clayton's REAL intension is to steal his investors money, which by the way, he's very good at.
Z was the cut and paste King, seeing as how he cut and pasted Mr. Robert E. Jackson's BIO over and over here.
"he may go for one of those spiral financings to get things going"
What happened to that $1 Million financing from "Real Resources Fund"?
"I did talk to Tom Smith yesterday as I stated, he made a great impression with me,"
Conmen like Clayton always make a good impression on people. That's how he makes his money, scamming his investors. Remember this 7/19/2006 conference call. Sound familiar? Clayton only tells you what you want to hear!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=12119566
Clayton Smith: Hello guys, thanks for being patient, been a busy morning
Zoran Minic: Hey CLayton!
Philip Gross: np
MOMOmonster: busy is good
Clayton Smith: If anone just got in, I am Clayton Smith the interm Management of Drake Gold
MOMOmonster: clay looks like we have a clean house again your thoughts??
onedown001: Hi Clayton!
theoriginalsmurfdog: Hello, Clayton
Mark Gloy: hey Clayton thanks for taking the time
Mark Gloy: Do you have an office in Oregon?
Clayton Smith: Well for starters I will be open to any questions anyone has, I will also provide updates to what is curreently happening, and would prefer one question at a time so I can answer them
Zoran Minic: How long will it take to get permitted to start mining the Gold in AZ?
Clayton Smith: Liq: the market has defiently bottomed out, we are pleased that the damaging mix up with Mr. O'Neil and our ambious move to diamonds hasn't done much more then put us back at a penny
MOMOmonster: agreed looking good again
Clayton Smith: eagle, we do have an office in Oregon, that is for the Novak Capital, not Drake, we are moving into the World Trade Center as early as next month as well in Portland. Drakes Corporate Office is in Century City, CA, where I am now.
Mark Gloy: Thanks
Mark Gloy: I am in Salem if you ever want to catch a round of golf
Clayton Smith: Zoran: The permits for the Jackpot property are expected to be had within 3-4 weeks, Mr. Parkinson and Mr. Pearson are expected to be on site on the 29th as well to review all equipment and grounds.
Zoran Minic: great!
Clayton Smith: eagle, i would love to, I am down that way a lot, have family there, so anytime I am I will let you know.
Zoran Minic: When will the next one or two gold companies be expected to close.
Mark Gloy: For the Master on Ihub, When is DKGR moving to the other exchange? Time frame 1mont 5months?
stocktalklive has joined the conference.
Good Luck: Hi Clayton, looks like we have a lot of shares on the ask at 0.01 and its always NITE there, any thoughts...
Clayton Smith: Z: to recap for new readers, our goal for Drake early on is to acquire projects that will provide cash flows the first year out, so although Pegasus is looking at doing $2.3 M in revenues, and the Jackpot is thought to be able to start to produce about $3-4 M a year, it gives us the bottom line cash flows, we are looking for about $500k a month for a good foundation early on. This makes us a self sufficent company, then we can focus on developing larger projects that we have already selected.
onedown001: When can we expect a PR regarding the Diamonds cancellation?
D Man: Clayton - Has Drake realized any actual revenue yet in 2006 from any source, but particularly from Pegasus? If not, when do you expect to be receiving revenues from the Pegasus acquisition? Will the Pegasus shares be issued at market price or at some agreed upon discount from market price?
Zoran Minic: great!
Clayton Smith: Z; so in reply to your question, we plan to acquire 2 other gold projects that are placer based and we will be able to create cash flows as soon as possible with. This is apart from any oil recompletes we plan to acquire to accomplish the same thing.
Clayton Smith: I have 3 questions, just a sec and I will reply to each.
son Goku348: give clay some time to answer people!
D Man: Z, might be easier for folks to IM you the questions and you can pose them one at a time for Clayton. Just a thought.
Zoran Minic: I think thats a great idea
Zoran Minic: IM me your questions everyone and I will ask Clayton
Clayton Smith: eagle, yesterday we just selected the auditing firm and accounting team to complete our audit, Pegasus is already audited, so the audit will take estimated 1 week after we get them the accounting, which is expected by next week. The SB2 will then be filed, its a 50 page document and will likley take about 3-4 weeks to complete, then all filings and 10q's will be availabe from the SEC and Edgar, at that point we sumbit to the SEC for an OTC listing and it varies with them on how long that takes 1-3 months is usual
Mark Gloy: great
Bob Keith has joined the conference.
Clayton Smith: tt: in regards to NITE, I want to point out a couple of things, first NITE is the largest MM for small caps as far as I know. they market make for the two largest online brokerages in Drake, Ameritrade and Scottrade who hold about 60% of the stock of Drake. So all trades bought or sold will go through NITE, also many other brokerages will use NITE to route their orders as well. This is why NITE is one the bid and ask almost all the time. When you buy from one of those brokerages then they show up, they also are the biggest buyer on the bid so when sellign comes in, they buy it, then they resell it at the ask, them showing 10000 does elude to having size
Clayton Smith: the company is not selling stock in the market, in fact no new stock has been issued since before we took over in Febuary.
Good Luck: thanks
Clayton Smith: We are in fact borrowing money to add new equipment to Pegasus, and will look to pay it back with cash flows or PIPE financings, there may be some 504 financings available which will be open for any shareholders if we do it.
Clayton Smith: Also to boot, I personally have loaned the company large sums of money from outside of Drake that is what we are paying our legal, and operational/acquisitional costs with.
Zoran Minic: kingocat k: To Clayton: Where do you see the price of DKGR in the long term?
Clayton Smith: onedown: we have mentioned to many shareholders that it is our intent to focus on gold and oil development rather the diamonds, the affilations with CMKX are unexceptable and it was a mistake to of done anything in that regards, or intentions were to establish ourselves up in SK due to the fact that some great projects are in the area but at this time I blieve my management team and consultants have decided it not to be a good idea, the wires will have to officically tell it.
Clayton Smith: D Man: Clayton - Has Drake realized any actual revenue yet in 2006 from any source, but particularly from Pegasus? If not, when do you expect to be receiving revenues from the Pegasus acquisition? Will the Pegasus shares be issued at market price or at some agreed upon discount from market price?
Clayton Smith: THe reveune from Pegasus will be paid in quarterly payments, the first to be recieved in Sept. They are on track to do $2.3 million this year, but remember any new contracts will add to this amount. The shares that will be issued will be done so over a period between now and Dec. 2nd, We have agreed upon a 50% discount to market in an effort to get the purchase price down, which we did to $1.8M but we will be issuing them based on the shareprice at the time of issuance, we expect to see the price move multipules higher therefore issuing less stock along the way, all stock will be locked into 144 restriction rules and not released for 2 years from issuance
Clayton Smith: Kingocat: The price of Drake is a big focus of mine considering I am by nature an investor rleations professinal, I can't directly put a target price on the stock not as management nor IR, but can make a few comments in this regard:
kingocat k: okay...thanks
Clayton Smith: The company is highly undervalued by book value standards at this point, it does suffer from the pink sheet mentality, where it is unverifiable and therefore doesn not always refect the prices it should be trading at, just based on the first two projects this year we should start to average $500k a month profit by the year end, using a simple 20x positive cashflows or profit (not 20x revenues) which is very standard for book value you can determine your own consculsions, There are at this time approx 600M shares outstanding, we are looking to cancel a prortion of these shares as well but there will be new shares issued for Pegasus and possible PIPE finanic
Zoran Minic: Mark Gloy: are we getting close to the release of the e-mail blast that was to go out to 7 thousand brokers if I remamber right?
Clayton Smith: This of course wouldn't include any of the new projects that will be coming in or new contracts, so you can rate that yourself.
Clayton Smith: Mark: we have an opted small cap list of approx. 7000 brokers, we will be doing two-fold: one blast to them to get their attention, then a follow up by one of my staff at Novak, that will email them personally and explain our companies vision and what separates us from the rest of the pack. This will likely draw a lot of support from the instiutional side but of course our OTC listing will really do the trick.
Mark Gloy: nice time frame?
Zoran Minic: chadlentz: Is there any independent verification of any of the gold-resources information claimed by Mr. Parkinson and his company? As Mr. Parkinson has a vested interest in a new company leasing that property, and if his claim cannot be verified by an independent source, what value do these estimates really have?
Clayton Smith: We will start to target to brokers as we annouce the next couple acquisitions, and once the full package has been released, we need have a foundation to report, a timeframe for the OTC, for cashflows, etc. so that we can gain crediblity with.
Clayton Smith: chad: the estimates are done by Mr. Parkinson from data and testing done on site, he is a fully registered Arizonan geologist, Craig L. Parkinson, RG, CPG, Arizona Registered Geologist #30843 and AIPG Certified Professional Geologist #10098, National Instrument 43-101: Independent Qualified Person.
chadlentz: Follow up allowed?
Clayton Smith: chad: it would be his reputation on the line if he was misleading the numbers, the deal we have is to pay $2500 a month as advanced royalties and nothign else, no stock no other payments, except gold royalites. They would have no benefit to mislead us as they are not making any additional monies unless actual gold is found and mined.
Clayton Smith: just a sec Chad, let me finish
chadlentz: np, not pressuring you.
Clayton Smith: We of course will be independently verifying this data, this does take considerable monies to do so, actual on site testing will run us $100k plus, and a feasibilty study which would prove the assets woudl run about $500k, we ocmpleted this agreement based on this informatoin as we were not going to spend that type of capital up front without a formal agreement, Mr. Parkinson has said we can begin minig the gold right away with a proper team in place, enter Mr. Pearson, he will be on site shortly over the next two weeks and will evealute it, give me expected costs, and targets production dates.
Allyinaustin has left the conference.
Clayton Smith: Chad, please make any follow ups
Zoran Minic: D Man: What is the status of the spinoff of the old AMVS / SSWH assets?
jrussin2006 has left the conference.
Clayton Smith: dman: we are still planning to spin off the old assets of AMVS, there is an ongoing negocition to to end. we plan to get a dividend of stock from a soon to be public company that deals in like products which will go directly to the sharheolders.
Zoran Minic: Clayton: How many shares do you have in DKGR?
Clayton Smith: I have control of all the stock in the escrow which is approx 300M shares, those are the proposed shares to be canceled so that may change, I also hold considerable shares I have purchased in the open market, as well as will be paid back for my loans upward toward $100k in stock as well, at a given point in the future, my salary will be stock and cash based but will be worked out down the road, at this time the exactly ownership I have coming is undetermined. I can say that 200M shares of the float is in friendly hands that my team and my close investors own and control, there is about 100M shares in the float that is part of what you all own and others out there I am not familiar
kingocat k: wow!
Clayton Smith: As you can see this company is properly held and is posed to make signifcant moves in the market the way it is being run, no dilution, no insider selling, only a clean up from previous managements messups and real assets coming in, the market will move with upcoming annoucements as well as once the assets are proven with the audited and reported 10q's the market will likely move upward toward book value.
Clayton Smith: I want to make a few comments that reflect some of the concerns that I have seen and heard. If I may give me a couple minutes to post this.
Clayton Smith: The addition of Pegasus is a huge move for Drake Gold, for two reasons, one it drives up cashflows and profitablity and also makes us very versitile once entering into the oil extraction stages of new up coming leases, due to record breaking oil prices getting rigs and equipment is nearly impossible when you want them, by having this in house we are able to expand very fast and do mulitpule recompletes at once, this iwll drive profitablity up even further. We have several pending leases now. The concern some have and I want to be very frank and open about is the team we have at Pegasus, there are some of the former management and the same engineer as TNOG. This to s
Clayton Smith: 5000% last year on anticpation of strong oil reserves, the main well the k1 hit oil then they prepared for horitzontal drilling but hit water, which drove the stock down, this put them into capital difficulties and have since been emerging once again with real operations on the same projects but in different areas. My point is that the managemetn and engineer are stand up people and i will back them up on that anytime. Even the biggest companies hit dry holes sometimes, I brought this team in because I know they are honest, hard wordking and able to accomplish the vision I have set forth for this company.
Zoran Minic: Good Luck: Does Pegasus own any rigs or drilling equipment?
Clayton Smith: This issue with Mr. O'Neil will be resolved as well, I am not making any comments against Mr. O'Neil as I do believe he has great contacts in SK and has intented to perform a good job for Drake but what we didn't account for was his repuation which he stated was a positive one and would help Drake, this of course was not the case.
Clayton Smith: Good: Pegasus right now has 6 trucks which are primarly used for cementing and fracing work, we will be expandikng our fleet to encompass serveral new cementing rigs, fracturing units, wire line, coil tubing and full scale drilling rigs which will be ongoing this year and even more so next year as we expand to Midland Texas as well as North Texas.
Clayton Smith: I think we should make a few other points about the jackpot project, for one the reputation of Parkinson is on the line as he has provided information from his studies that he believes proves 60,000 of gold. They don't look to benefit anything by misleading us as the $2,500 advanced royalty goes to the land owner not him and his services will be paid in cash but if there is not the reserves he says are there then within the second month we cancel the contract, so we are only out $13k and some wasted time. Hardly enough to jepordize his integrity with unless in fact the gold is actually there, the $2500 advanced royalties go towarded the 10% royalty the land owner act
Clayton Smith: Here are some pictures that are of gold that was recently taken from the Jackpot project, the reason they outsourced the project is they want others to invest their capital to produce the gold whereas the land owner my not be capitally prepared to do so.
Clayton Smith: http://www.drakegold.com/images/temp/JackpotGold3.jpg
Clayton Smith: http://www.drakegold.com/images/temp/JackpotGold1.jpg
Clayton Smith: http://www.drakegold.com/images/temp/JackpotGold2.jpg
Zoran Minic: Good Luck: How other employees of DKGR get paid? including Nia?
Clayton Smith: The only two official full time staff is Nia and myself besides consultants and engineers, Nia is recieving shares in the company and then cash is paid for her staff which is handling the legal filings and contracts. Cash in which I am loaning the company. Consultants are either paid in cash, restricted stock or options
Zoran Minic: Great...no Dilution!
Good Luck: follow up
Good Luck: what if u decide to stop the loans?
Clayton Smith: Exactly my point, we are adding real value, with real cash flows, with minimal issuance of shares, non of whihc will be free trading except what 504's we may offer to shareholders
Clayton Smith: tt: there are sharehodlers in this company that will provide the capital in exchange for interest or for stock. We have this covered, plus we are working with as Nasdaq company with $4m dollars that is willing to loan us the money with interest, after the first 3 months we won't need additional capital as we will be cash flow heavy.
Clayton Smith: Once we get our OTC listing we will then be able to pull in multimillion dollar financing to expand all operations and enter into larger projects with.
Good Luck: cool
Zoran Minic: Ok Guys Clayton has to run
Zoran Minic: He's running late...thanks for stopping by Clayton
Clayton Smith: Unfortunantly I am expected to be in a meeting in about 20 minutes which I will be late for
Zoran Minic: lol
kingocat k: Thanks Clayton for the answers
Good Luck: thanks
theoriginalsmurfdog: thanks a lot clayton
chadlentz: Thanks, Clayton, talk atcha later.
Mark Gloy: Thanks Clayton look me up for some golf
son Goku348: Thanks clay!
Zoran Minic: Have a great meeting and we are lookin forward to a follow up!
Clayton Smith: I can continue this next time and thank everyone for their support. I added most of you to my list so please feel free to ask me any questions via IM or email as well.
END
'What happened to shares that were listed in previous disclosure statements as owned by Clayton Smith? Clayton Smith was part of a group that had an option to buy shares from previous management (prior to 2006). The option and the shares held in that option were part of a cancellation earlier this year where 152 million shares were cancelled."
There is a lot more than 152 million that CS talked about here (below), and that's not counting the "considerable shares he purchased in the open market, as well as will be paid back for his loans upward toward $100k in stock as well"
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=12119566
Clayton Smith: I have control of all the stock in the escrow which is approx 300M shares, those are the proposed shares to be canceled so that may change, I also hold considerable shares I have purchased in the open market, as well as will be paid back for my loans upward toward $100k in stock as well, at a given point in the future, my salary will be stock and cash based but will be worked out down the road, at this time the exactly ownership I have coming is undetermined. I can say that 200M shares of the float is in friendly hands that my team and my close investors own and control, there is about 100M shares in the float that is part of what you all own and others out there I am not familiar
You also say that "Peter was part of a group that had an option to buy shares from previous management (prior to 2006). The option and the shares held for that option were part of a cancellation earlier this year in which 152 million shares were cancelled."
So part of that 152 million was Peters, and not 152M of Clayton's.
Also, Peter M is not listed on that list in their PR. Where did you get the info that Peter M was part of the group.
Monday, 01 November 2010
Drake Gold Resources DKGR Completes A Settlement Of Stock Outstanding
Drake is pleased to provide an update on turnaround developments of the Company. As stated in a previous blog post, the Company has been in process of reorganization. Part of the turnaround process of Drake requires all stock accruals and stock outstanding to be settled. This process is ongoing and the outcome of the company’s efforts will be reflected in the financial statements. To provide an update of this process, as of October 2009 all financial obligation of monies, stock accruals or other due to the following parties for complete term of service was relinquished:
Nicholas Slinde for service as interim CEO 2008-2009
Steve Wilson for service as acting CFO 2008-2008
James Goularte for services as Advisor/COO 2007-2009
Katherine Jones for services as Advisor/VPO 2007-2009
John Sampson for services as Advisor 2007-2008
Rick Hupe for services as Advisor 2008-2009
Maxim Markets for services as Investor Relations 2007-2008
Clayton Smith for services as CEO/Chairman 2006-2008
"2006=old news here,what a joke ha ha"
The 6 year old news was that Clayton Smith had complete control of DKGR! Has that news changed?
If so post the latest news as to who has the controlling interest of DKGR! And yes, this company was a JOKE then, and a BIGGER JOKE now! Thanks for the reminder!
"It is the way you run any company, look at the companies act in any state"
You are RIGHT! One problem though, that is for legitimate reporting companies, not scam PS companies like DKGR.
DKGR is run by scammers. Have you ever received a proxy to vote at a DKGR board meeting?
Thought not! You never will either, because they don't have board meetings, with the exception of CS talking to himself.
"the previous Board of Directors appoint a new Director through minutes to the meeting, then a resolution and then the person gives his letter of acceptance to the board"
Do you have a link for that, or is that just your opinion?
"If Clayton has a block of shares good for him"
The problem is that he is in control as usual. See my post before this one.
"there to me is no sign at all he's in the drivers seat"
If CS is not in the "drivers seat", then who is? It's obvious the new management is not in the drivers seat as many have posted over and over.
The DKGR website says that management was "appointed". So who appointed them? It would have to be the majority ownership.
From all I can find, which is the facts spoken by CS and the DKGR website below.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=12119566
Clayton Smith: I have control of all the stock in the escrow which is approx 300M shares, those are the proposed shares to be canceled so that may change, I also hold considerable shares I have purchased in the open market, as well as will be paid back for my loans upward toward $100k in stock as well, at a given point in the future, my salary will be stock and cash based but will be worked out down the road, at this time the exactly ownership I have coming is undetermined. I can say that 200M shares of the float is in friendly hands that my team and my close investors own and control, there is about 100M shares in the float that is part of what you all own and others out there I am not familiar
http://q.b5z.net/i/u/10073722/f/DKGR_-_ICIDS_-_02-22-12.pdf
On their last Financial Statement listed on their website dated 9/30/2011, we have this;" Item 7. "Question", any change of control; "Answer", There has been no change of control in the last three years."
So that tells me that CS and family are still in control, since CS was still in control in late 2008 (3 years from 2011). This is not my opinion, it's the "FACTS" that are available to me.
If you have information that states, or proves otherwise, please enlighten us.
"If management of DKGR cannot handle the day to day operations of a company which would I am sure is not much to do everyday, remove them and put on people who will run this and get the wells going the way they should be handled"
The problem is not with the NEW MANAGEMENT, it's with who APPOINTED them. The new management are the puppets of the person who appointed them. That person is Clayton Smith and family. Clayton Smith is a very well known proven scammer. There are plenty of posts here that has the proof of his scams.
If you don't believe Clayton Smith is still in control, read this;
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=12119566
Clayton Smith: I have control of all the stock in the escrow which is approx 300M shares, those are the proposed shares to be canceled so that may change, I also hold considerable shares I have purchased in the open market, as well as will be paid back for my loans upward toward $100k in stock as well, at a given point in the future, my salary will be stock and cash based but will be worked out down the road, at this time the exactly ownership I have coming is undetermined. I can say that 200M shares of the float is in friendly hands that my team and my close investors own and control, there is about 100M shares in the float that is part of what you all own and others out there I am not familiar
------------------------------------------------------------------------------------
Here is more info;
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30963645
Nicholas Daniel Smith is Clayton Smith's father?; He also has a couple of brothers along with other family members.
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1333539&p_srce=BR_INQ&p_print=FALSE
Being that Next Up Inc., a Texas/ Oregon Corporation had 76,000,000+ plus shares of DKGR and Clayton had 72,000,000 shares of DKGR as of the last filing...
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Now unless they have sold the company to someone else, or a controlling interest, the same people are still in control. Now they may hire new management, but they are the ones who are still in control. I've seen nothing showing where NEW Management bought any shares.
Anyone with proof that Clayton sold all his shares, please post it. In fact on their last Financial Statement listed on their website dated 9/30/2011, we have this;" 7. any change of control; There has been no change of control in the last three years."
Financial Statement, 9/30/2011
Those who follow this company, DKGR, instead of the truth about DKGR posted here, will lose their money!
RULE NUMBER 1 when investing in Pink Sheet stocks!
NEVER, EVER, believe what a PINK SHEET SCAM company says in their PR's, or post's on their website, especially when they have done it over and over as DKGR has done!
LODE did have a 2.89 trade today.
Read more: http://www.nasdaq.com/symbol/lode/historical#ixzz209GlzLkX
13:21 2.62 2.89 2.62 2.6999
"If they are knowingly committing fraud then why did they pass the SEC inspection or whatever someone posted about a long time ago."
What SEC inspection? Starting more false rumors I see. Link please!
As for "forwarding information to the SEC", plenty has been sent, but as we all know, the SEC employees would rather watch porn all day than to do any actual work.
"Where does it show that this Clayton Smith or whomever is linked to this and past expression of the company? "
Try reading this from a few years back!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=12119566
Clayton Smith: I have control of all the stock in the escrow which is approx 300M shares, those are the proposed shares to be canceled so that may change, I also hold considerable shares I have purchased in the open market, as well as will be paid back for my loans upward toward $100k in stock as well, at a given point in the future, my salary will be stock and cash based but will be worked out down the road, at this time the exactly ownership I have coming is undetermined. I can say that 200M shares of the float is in friendly hands that my team and my close investors own and control, there is about 100M shares in the float that is part of what you all own and others out there I am not familiar
------------------------------------------------------------------------------------
Here is more info;
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30963645
Nicholas Daniel Smith is Clayton Smith's father?; He also has a couple of brothers along with other family members.
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1333539&p_srce=BR_INQ&p_print=FALSE
Being that Next Up Inc., a Texas/ Oregon Corporation had 76,000,000+ plus shares of DKGR and Clayton had 72,000,000 shares of DKGR as of the last filing...
Would not logic tell you that if they bought those in the open market; DKGR stock would have gone up?
Funny how some try to hint otherwise.
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Now unless they have sold the company to someone else, or a controlling interest, the same people are still in control. Now they may hire new management, but they are the ones who are still in control. I've seen nothing showing where NEW Management bought any shares.
Anyone with proof that Clayton sold all his shares, please post it. In fact on their last Financial Statement listed on their website dated 9/30/2011, we have this;" 7. any change of control; There has been no change of control in the last three years."
Financial Statement, 9/30/2011
http://q.b5z.net/i/u/10073722/f/DKGR_-_ICIDS_-_02-22-12.pdf
"AS FAR AS Dilution Accusations, You Have Zero Proof"
I gave you the proof once, but you ignored it. Here it is again.
What do you call this?
The AS went from 300,000,000 in 2009 to 500,000,000 in 2012.
The OS went from 35,021,580 in 2009 to 313,380,940 in 2012
Revenue in that time period, $0.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6805265
July 31, 2009
300,000,000 shares authorized,
35,021,580 shares issued and outstanding at July 31
http://www.otcmarkets.com/stock/EGOH/company-info
Share Structure
a/o Jul 05, 2012
Shares Outstanding
313,380,940
a/o May 31, 2012
Float
62,300,080
a/o Apr 21, 2011
Authorized Shares
500,000,000
a/o May 31, 2012
"LOTS OF PROOF EGOH IS A SCAM"
And proof of DILUTION!
"There is NO PROOF THERE IS ANY DILUTION! NONE! "
What do you call this?
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6805265 ;
July 31, 2009
300,000,000 shares authorized,
35,021,580 shares issued and outstanding at July 31
http://www.otcmarkets.com/stock/EGOH/company-info
Share Structure
a/o Jul 05, 2012
Shares Outstanding
313,380,940
a/o May 31, 2012
Float
62,300,080
a/o Apr 21, 2011
Authorized Shares
500,000,000
a/o May 31, 2012
"I believe there is more to this story then meets the eyes.. We shall see.."
There is a lot more to this story than meets the eye!
For those wondering what is going on here with EGOH, just read their past history. Wilmont has been running this scam for over 10 years. If you don't believe me read through his old shareholder updates from years ago on these same oil fields. Nothing ever gets done, and it's excuse after excuse. Read it and weep!
http://www.egvr.com/shareholder.htm
http://www.egvr.com/news.htm
REAL "experienced professionals" wouldn't let their names be associated with a PINK SHEET SCAM company like DKGR. They have already proven to NOT be "experienced professionals".
They can't even keep DKGR current on the lowest exchange, PINK SHEETS!
They can't explain why their investors can't verify their supposed 299 oil wells from that list they have on their website.
They can't even keep investors updated on the share structure. i.e., Float 362,238,866 a/o Aug 10, 2007
They can't even keep investors updated on things that are already supposed to be done per their PR's.
The DKGR MANAGEMENT is just a big JOKE, the only problem is that the JOKE is on their investors!
"something to look forward with"
With DKGR though, all you have to look forward to is what you see when you look backward into there past, and now present. Just count the number of times that they made GRAND plans, made false claims, etc. Then count the number of times they succeeded. All they have succeeded at is selling shares, and accumulating debt.
"I wonder how much all the newly reworked wells are producing?"
Evidently nothing, otherwise they would be shouting it from the rooftops.
According to their PR (below) those first 2 wells were supposed to be done by late May, but not a peep about the results. But that is normal for Clayton and company! All talk, and no action. Scam all the way!
CARSON CITY, Nev., May 14, 2012 /PRNewswire/ -- Drake Gold Resources (OTC Markets: DKGR) is pleased to announce a production and development update for its Pennsylvania oil & gas project in Venango County.
Drake's six leases are producing an average of 17.2 barrels of oil per day (BOPD). The Glover lease is the most active one and, consequently, is initially targeted for the first of the rework and treatment program. Production will vary on each lease depending on such factors as the weather; down time due to reworks and treatment; and various other factors which impacts the daily output.
Each of these wells once reworked and treated historically, will produce between 1 and 5 BOPD. Management is using conservative estimates on these leases with expectations of reworking / treating approximately 100 wells. In addition, Management feels that the wells will have a median production of 1.5 BOPD which does not include the in-field drilling that may occur in the future.
Well-treatment professional and field advisor, Rick Tallini, has obtained the acid and chemical components required to treat the first two wells on the Glover Lease which are #4 and #14. This has been scheduled for the middle of this week. The treatment process requires oil that has been produced thus far and stored in tanks to be mixed with the treatment components. This formula will subsequently be injected into the wells followed by the wells being shut-in for a week. The treatment will then remove the brine water mineralization and paraffin build-up down the well bore which drastically improves oil production.
Field operator, Chris Repansky, is pumping the current 10 producing wells on the Glover Lease on a predetermined schedule. The remaining 8 wells on this lease are set to be reworked so as to bring them back into production and prepared for treatment. Chris will begin the reworks on the wells #2 and #3 once the required equipment arrives on site.
With production and development on Drake's first producing project coming to fruition, management would like to invite investors and shareholders to visit the project on a corporate field trip. An exact date will be determined and released based on the development schedule and expected weather conditions. Please contact investor relations if you would like to attend.
For any inquires please contact Drake's Investor Relations at phone: 530-405-3547 or email: IR@Drakegold.com.
Not only are their resumés unverifiable, their list of 299 oil wells are unverifiable. That's par for the course though for Clayton and company.
"The company is run by morons"
I couldn't agree more!
"its possible that the wells are listed in an individuals name rather then the company."
Then why would DKGR list them the way they did?
If they were in an individuals name, they wouldn't belong to Drake.
I know why! They don't own them. This just one more in a long string of DKGR scams over the years.
You can read all about their past scams here;
http://findarticles.com/p/search/?qt=DKGR&sn=0&tag=content;col1
It's just scam after scam!
"From the website. Since the company has no IR, I thought I would help them out."
CR, help me and others out concerning drakes "Portfolio" listed below from their website. Why can only the first 18 wells that drake has listed, be found using a verifiable source like this PA site, or any other site for that matter. Where are all those Phantom wells?
http://www.portal.state.pa.us/portal/server.pt/community/oil_and_gas_reports/20297
Name L.P. County Township Area Acreage Wells Operating Wells Prodn bbl/day Net Revenue Interest
Glover I Venango President Eagle Rock 80 18 10 10.4 87.5%
Master VI Venango Cranberry Van - SGL 45 457 50 2 0.7 87.5%
Myers VII Venango Cranberry Van - SGL 45 66 12 2 1.6 87.5%
Morrison VIII Venango Cranberry Seneca 396 60 6 2.8 87.5%
Frank Farm IX Venango Cranberry Seneca 50 12 2 1.6 78.1%
Rensma X Venango Cranberry Van - SGL 45 559 147 1 0.1 87.5%
"No just going by what the company posted on it web site under Q&A section on front page. I think there are laws against companies post false information so I am going with that knowledge."
NEVER, NEVER, believe what DKGR puts on their website or in PR's. If there are LAWS against companies that post false information, how did they get away with this;
Here is the PR concerning DKGR's claim to have purchased Pegasus.
http://findarticles.com/p/articles/mi_pwwi/is_200607/ai_n16522763/?tag=content;col1
Drake Gold Resources Inc. Announces Completion of the 100% Acquisition of Pegasus Oil Well Services with Projected Revenue of $2.3 Million for 2006
Drake Gold Resources, Inc. (PINK SHEETS: DKGR) is pleased to announce the 100% acquisition of Pegasus Cementers Inc. D.B.A. Pegasus Oil Well Services which is projected to do up to $2,300,000 USD of revenues for 2006.
Live and learn how DKGR lies to investors. I don't care if they have new management. DKGR management are always controlled by the Smith and Peter M. cartel.
Pegasus later put this out;
Pegasus Cementers Clarifies Acquisition Statement Made by Drake Gold Resources, Inc.
Pegasus Cementers today announces clarification of a supposed acquisition statement made by Drake Gold Resources, Inc. On July 10, 2006, Drake made a public announcement of its "100% acquisition of Pegasus Cementers, Inc. dba Pegasus Oil Well Services." This was not true as Pegasus is not now, nor has it ever been, owned by Drake in whole or in part. An initial agreement made between the companies was never finalized as Drake defaulted under the terms of said agreement. Pegasus now takes this opportunity to correct this misstatement made previously and to invite oil and gas well operators as well as water well owners in the central and south Texas area to visit our web site at http://pegasuscementers.com for information about our services.
About Pegasus Cementers:
Pegasus Cementers, Inc. provides services for owners and/or operators of oil, gas, and water wells in the south Texas area. We provide an economic alternative to these owners and/or operators for these shallow wells. We have been serving this area for over five years.
This is just the tip of the iceberg of DKGR lies. Go here to read dozens of others over the years.
http://findarticles.com/p/search/?qt=DKGR&sn=0&tag=content;col1
"phase 1 took us over 1700% gains, and we've held over 400%."
It wasn't phase 1 that took it to 1700%, it was the hype about phase 1. When the PR came out about phase one, nobody liked it and the SP came way back down. Those who bought on that 1700% rise on hype are now several 100% underwater with their investment! I bet they aren't laughing!
"Lets Roll Phase #2 Go Drake!"
Well, seeing as how phase one turned out to be a joke on investors, phase 2 will no doubt be a bigger joke on investors.
Anyone still think DKGR's past, doesn't predict it's future.
The reason is very simple! DKGR is still run by Clayton and Peter!
The proof is apparent!
MC, you say; "Did I ever cut and paste DKGR Bio's over here ?"
Where did I say you did?
And just what was "nasty" about my post, unless you consider posting the truth about DKGR is nasty.
MC, you say; I'm "one of the few on the "other side" I pay attention to
until you get to the cut and pasting too much".
You don't seem to have a problem with those who cut and paste DKGR management's bio over and over here when it is right here in the ibox for all to see.
Personally I wouldn't be mentioning DKGR management right now if I were pro DKGR. It seems a few LONGS here are pretty fed up with them, although I don't believe those currently listed as management are in charge, just puppets of Clayton and Peter. Their MO is still all over DKGR.
MC, you say; "if we could just sticks to facts and not come up with things as if they were facts"
You are so right MC!
FACT; A thing that is indisputably the case. Information used as evidence or as part of a report or news article.
Now if DKGR would say things that are "indisputably the case", and use "Information as evidence or as part of a report/PR", we wouldn't have all these rumors.
Case in point, they list 299 oil wells as theirs, but only the first 18 can be found using this PA site, or any other site for that matter;
http://www.portal.state.pa.us/portal/server.pt/community/oil_and_gas_reports/20297
Even those 18 wells are unverifiable as to being DKGR'S.
Now if what I just said about DKGR and their supposed wells are not a FACT, please post the FACTS!
"Like, I think they should be posted, but the problem with that (I guess) is all the negative posters that will call and hound those people, seriously, who needs that,"
One problem with that is that they did publish a list of their wells, but only the first 18 on the list are verifiable to even exist, let alone belonging to DKGR. Also if they are good wells, nobody could post anything negative
"I am 99% because we got some verification which is all I will tell you"
So you are claiming some inside info?
MC, you say; "I am 99% convinced the leases and project is real"
DKGR hasn't even identified their supposed oil wells with verifiable information yet. Nothing matches the info given. I’m sure it was designed that way so investors can’t verify anything. Not that it really matters though, because nothing about DKGR is ever REAL!
I'm 99.99% convinced that this is just another DKGR scam.
Now since you are, "99% convinced the leases and project is real" I challenge you or anyone else to post the DKGR wells that they listed, using a verifiable source like this PA site, or any other site for that matter;
http://www.portal.state.pa.us/portal/server.pt/community/oil_and_gas_reports/20297
Even mediocre management would give their investors verifiable links to what they claim they have.
"ONE THE FIELD? MOVING IN BIG RIG?"
What field would that be? DKGR hasn't even identified their supposed oil wells with verifiable information yet. Nothing matches the info given. I’m sure it was designed that way so investors can’t verify anything. Not that it really matters though, because nothing about DKGR is ever REAL!
I challenge anyone to post the DKGR wells using a verifiable source like this PA site, or any other site for that matter;
http://www.portal.state.pa.us/portal/server.pt/community/oil_and_gas_reports/20297
If DKGR management is so GREAT, give your investors verifiable links to what you claim DKGR has.
" No legitimate company would publicly display its float information from 2007 as if it were meaningful, nor conceal its current float information as if it were not."
It's issues like this that point to the same old people like Clayton and Peter as the ones still running DKGR, and NOT the new all star management. The all start management that gets touted over and over here is nothing more than a diversionary tactic as to who the real bosses are, Clayton and Peter.
"Let me know if I'm missing something, by the way, finding this is good DD, Seriously.."
MC, I didn't find this. VT posted it in a reply to your post # 41263 earlier today.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=76534101
Vegas_trader
Tuesday, June 12, 2012 2:26:53 PM
Re: Mastercraft7 post# 41263
Post # of 41296
STRONG SELL...according to barchart.com
Additionally, you should note this filing that all of you brilliant DD hounds have yet to uncover.
Form 144: Filing to Sell 8823530 Shares of Drake Gold Resources Inc (DKGR)
Document Processing Date: June 05, 2012
Filer: SE MEDIA PARTNERS, INC.
Relation:
Stock Name: Drake Gold Resources Inc
Stock CUSIP: 26144G106
Stock Symbol: DKGR
Exchange: OTC
Transaction date: May 30, 2012
Shares for sale: 8823530
Value held: $26420
$26k in stock to this SE Media Partners. What for? All this DKGR advertising we see on CNBC????
Here is what VT was referring to. I'm not sure why you think this was referring to "Dutch Gold"
http://barchart.com/headlines/story.php?id=4979287
Form 144: Filing to Sell 8823530 Shares of Drake Gold Resources Inc (DKGR)
Vickers Stock Research via CMTX - Wed Jun 06, 4:45AM CDT
Related Stocks
DKGR - Drake Gold Resources
Sym Last Chg Pct
DKGR 0.0028 +0.0010 +55.56%
Document Processing Date: June 05, 2012
Filer: SE MEDIA PARTNERS, INC.
Relation:
Stock Name: Drake Gold Resources Inc
Stock CUSIP: 26144G106
Stock Symbol: DKGR
Exchange: OTC
Transaction date: May 30, 2012
Shares for sale: 8823530
Value held: $26420
Broker:
Copyright (c) 2012, Vickers Stock Research Corporation. All rights reserved.
"DKGR and it's management team is legit and this oil project seems to be the real deal."
DKGR's management team may be REAL legit people, but they are definitely Clayton's puppets. DKGR is running true to Clayton's style of scamming investors.
As for the use of words like "seems", what "seems" to be real about DKGR always turns out to be "false".
"for information you keep referring to for records on production is not Peters responsibilty"
blowout, I'm not sure if you are replying to my post or to someone else, since you post to "none" instead of a reply.
If to mine, I never referred to "records on production". Now if the assets are REAL, tell Peter to prove it by providing verification using the PA site. The problem is that DKGR has listed all the wells, along with the lease names, but only the first ("Glover" 18 wells) can be confirmed on the PA site. When I say confirmed, I don't mean confirmed that DKGR has any interest in them, just that there is such a lease as described by DKGR. As for the rest of the list, Master VI Venango Cranberry Van - SGL 45 457 50 2 0.7 87.5%, Myers VII Venango Cranberry Van - SGL 45 66 12 2 1.6 87.5%, Morrison VIII Venango Cranberry Seneca 396 60 6 2.8 87.5%,
Frank Farm IX Venango Cranberry Seneca 50 12 2 1.6 78.1%,
Rensma X Venango Cranberry Van - SGL 45 559 147 1 0.1 87.5%,
nothing can be found.
Can you explain that? Peter as IR should be able to explain it! Ask him about it.
I would rather trust GB, since he worked with Peter and Clayton. I also have seen all the past PR"S put out by Peter and Clayton over many years on several other companies they have been involved with.
Nothing but lies and excuses! Never a dime of revenue, other than selling shares!