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What does this mean to my position in the stock? Will i ever be able to liquidate my tiny speculative position? I figured someone would pick up the company as a shell corp.
Anyone notice that parts of their site no longer work? I started getting 404 errors when trying to hit the investor relations pages, and a few others.
I'm trying to find out if the company is trying to restructure or if it is completely shut down.
I have an order out there at .0002, anyone want to give me their 1M shares at that price? I hope the order fills soon - before any more info is shared about the organization's future
Back when I enjoyed reading this board - that was a good time.
I agree with everyone who is optimistic on this stock. I think the company has something here that will make money and will be worth something - but I almost can't bring myself to read this board in the last few months as everyone chatters about how the stock will be worth .10, .50, 1.0+ etc. If this stock hit 1 dollar a share, think about what that means to the market capitalization of the firm. A pink sheet stock with a billion dollar market cap? Unlikely. It's easy to get lost in valuation when you consider the free shares that trade, but when you add to it the restricted shares, it makes the current valuation seem almost absurd for the company in the current stage with nearly no income. In 5 or 10 years, sure, then maybe it will be worth more once it has contracts in place, and revenue to support the price but for now, as an Investor, not pure speculator this stock which I am an owner of in several accounts, just does not seem to be worth any more than it currently is trading at.
According to OTC Markets, outstanding shares of 4,668,229,167. This makes for a market cap of 185M at a .04 price we are currently just below. Until we see revenue from the IP or sales of products I just don't see how this firm is worth even that much money.
So to those loading up - i hope you are planning to hold for a few years at minimum, and for those deciding if you want in, please keep your head about you, as the overall value of the company while great hasn't been proven yet and won't for some time.
While I applaud the enthusiasm I struggle with the very basic lack of due diligence and spinning of details.
"multi-billion dollar, NYSE publicly traded industry leader" is not a Nasdaq company, but an NYSE company.
I do believe things are in the works, which is why I am here as an investor, however I honestly know that spinning false details on a discussion board will do nothing to get additional investors into the company if they hadn't already heard about them.
What needs to happen is more market exposure and getting the EPGL name out there in the news.
Okay that makes sense, but then why specifically call it out that they apprised PWC of the deal? We know that they have board membership rights, and with that we would expect them to be informed of all deals of this magnitude wouldn't we? I really do believe this company is headed for greatness but it seems like they are reaching out to make news where there is none. Now if they hadn't informed the board members of such a large deal, then I'd be concerned. I'll digress though, I do still have those same concerns on the practices of the conference calls.
Honest question here. We've known for a while that PWC was apprised of this deal. PWC holds shares just like all of us do, granted they hold a major portion of shares outstanding compared to my few hundred thousand shares. I'm just a small time investor here but isn't it against the law for the company to share information in regards to this confidential deal with some shareholders (PWC) while not allowing the remaining shareholders in on the secret? I'm not saying that I don't understand the confidentiality agreement, but with that agreement, I don't understand how PWC should get treatment different than all of us who also have money vested here. Seems to boarder on questionable actions by the company in my opinion. I've had similar thoughts and questions when they do not post recordings of the conference calls which allow only limited number of investors to attend, and when they offer information conference calls prior to publishing actual PR's to everyone. They continue to act in a way that seems to allow some access to information in a way that does not make it available to all shareholders simultaneously and I really am concerned of the legality of it
I hope that in 2014 we see plans to reduce share count. I know the company has stated many times that restricted shares will not see the market but leaving them outstanding at all, impacts the share price of those on the market. I strongly believe that hearing about a share repurchase plan would greatly assist those of us long and short term into EPGL and would likely raise share price.
Admittedly this really would be a difficult thing for the company to do, since right now, PwC and Hayes hold so many shares. If they aren't ready to liquidate and reduce their slice of the pie at this price, why would they ever introduce a buy back program? Sure does seem like a vicious circle but lets be realistic and realize that us retail investors are such a tiny portion of the company ownership that this thing may not act exactly as we would expect a Nasdaq or even Pinky. I'd venture to guess this more closely resembles some level of a private venture, while adhering to the necessary guidelines for a OTC traded stock.
I believe in EPGL, and I believe management means well, however until I see them reducing the size of the whole pie, I have to believe the retails don't have much say, even for those who hold a few million shares.
FlaFlyersFan, you say it is an unknown amount of cash and revenue. What do you base that statement off of? It seems to be that while unaudited, the quarterly report shows revenue and cash. True they are unaudited BUT people don't work for free, so if they had no cash, I'm fairly certain those on staff there would not be working with EPGL.
Educate me KBing617, how does a company with little to no debt and lots of cash/revenues starting to come in, file bankruptcy so they can change the name and stock ticker?
I've got to believe that the company which has spoken to the fact of restricted shares not becoming part of the float, has a plan.
They have set aside a very nice chunk of additional cash and cash equivalents in the last 2 quarters and in the event any of the share holders of the restricted shares have intention of selling, I'd believe they would rather work with management to have EPGL buy back some of those shares and retire them - over several quarters in some structured deal rather than dump them on the open market. Dropping them on the open market would virtually tank the share price if they actually wanted them to sell quickly and that would eliminate any profit they would be have gotten by liquidating the shares.
These are smart entities holding those shares and they won't do something that will hurt their pocket books.
I agree that giving away working interest in these early wells will long term pay many dividends over struggling to drill them ourselves for 100% stake in the working interest. I think that we get hung up on the prospect of giving away possible revenue now, which could then be used to further develop without seeking further external funding. It's a double edge sword really since we couldn't afford to prove out the lands we have, based on our current funding situation, but can't earn more revenue unless we do get some wells flowing.
I for one appreciate the fact that the original deal with the drilling fund is paid from cash flow generated by the wells drilled, not by the company's check book directly.
At this point I fully expect that we would be left sitting until after the new valuation estimates are issued after the first of the year, which should change the assets of the company significantly and allow for much more favorable terms as it relates to obtaining financing. I think this is probably why the expectation is later 2014 for any real activity, as that allows time to see the valuation increase and then also work out financing deals, and schedule the actual drilling activity.
I bought in over 2 years ago with the belief that at one day, this would be bought out or sold off and the book value was much higher than the current market cap, so i fully expected a nice return when that occurred. If it happens tomorrow, or next year I'm fine with it, and if not, maybe I'll eventually be able to see a pps increase and liquidate at that time.
I think the biggest issue we have on this board right now is that people get to hung up on exact dates. They are important but you have to realize contract negotiations are not always predictable in nature. I read and read posts on here and everyone get so hung up on dates that they "thought" they heard. I wish the company would stop commenting on dates for releases of anything but earnings itself.
I heard in the call that they have this deal brewing, but if it takes a month to get details out, so be it. I am not looking for an impact of the deal this week, but an impact to the finances at next quarterly or annual report. I also thought i heard them say that the Form 10 hasn't been filed yet, but will be filed also in the next few weeks. I think there is up to a 60 day review period of the Form 10 - per what i can find researching form 10's.
Given that, I'd be happy to hear by EOY about any deals, and if we can also hear by then that the form 10 has been filed, I'd expect SEC complaint on or around the end of Q1.
I think they said a horizontal well would cost around 10M and if I recall regular well's would cost in the range of 2-3 million each. I may be wrong on the latter but i know that they borrowed around 7m to drill the last 3 of the 4 and finish all 4 Koko wells.