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I expect there will be a wall of resistance at .10-.11 and it will take a little while to run through that. Then .14 will give resistance. If we fly through those two, me thinks low .20s is the next stop.
I we get past the low .20s... Uff! College bills will be paid and adult drinks will be consumed a plenty.
I have no idea if they are incredibly smart, incompetent, void of any communications knowledge, or whatever.
Having said that, a public release is not shareholder value. That is just our desire for them to say something that would cause the stock price to go to some level we hold dear to us.
Shareholder value is valuable assets, cash, stability, and superb execution of a good strategy. Yes, they should communicate and make material events public. From my perspective, these guys are not children or morons that will knowingly put their company at risk by not disclosing information. I am sure a bunch of lawyers have discussed this at length and either employees or consultants are very much aware of what they can or cannot do as it relates to disclosing information. If anybody knows for a fact that they have not disclosed a material event, report them.
I am as pissed as anybody else that the price is at .06. We can all speculate why they have or not have said something, but that is just intellectual masturbation which is probably the main purpose of these boards anyways, so we all go at it.
The price is what it is. Press releases can make the price spike, but assets will let the price remain. If they find oil, the price will be much higher than .06 long before the press release hits the wire. We will find out last on this board.
Thats my opinion. You will feel good about yourself for "telling it like it is" and warning potential investors, and another group will feel good about themselves for explaining their reasons for optimism. I know, I am part of this cycle, but we are all obsessed with this stock or we would not be spending our days reading somebody else's opinion in hopes that "tomorrow" will be they day. I was hoping this stock would help me pay for college... Good thing I had a plan B (sort of).
The end.
I would submit to you that by the time we get the confirmed report on successful wells, the stock would have already taken off.
This is a penny stock, and therefore, speculative in nature. Therefore, it will move on "events" that might lead to announcements or pure speculation, dot connecting, etc.
We are individual investors. We will hear last.
Yes, my point is that is has been low enough that if they wanted it cheap, they could have had it unless:
1) Not for sale (what you suggested and I agree)
2) Too much risk
If anybody would be interested in buying us, they would have done so already at .08 for under $70M. That's a rounding error for a major oil Co.
So either is not for sale or there is too much risk for those companies.
+100000
Obviously, if I am still here, I do not believe that is where we are headed. I understand risk and willing to accept it.
I did not buy into a major oil company. I bought into a minnow that by mostly luck (or foresight) held some rights to an oil paatch. They are land owners hoping that somebody wants to build something in their lot. So you buy the land and you wait. And we wait.
You want them out with pom poms doing something. I'm ok waiting as we are not builders. They do have to manage flow. I'm not happy about their lost 5M and a couple other moves,but I am also not ready to fire them.
I respect your position. You feel compelled to ridicule mine. That's your right. I just want others in this public forum to know that you do not speak for all of us.
Just because you yell loud and often, it does not make your opinion fact or any more valid than mine.
Your delusional friend,
Hermit
Same here. I did not expect to be rich, but I thought it would help pay for at least 1/2 years with the profits. Little did I know.
My wife still jokes that ERHE was my midlife crisis toy. Crap, should have bought the Harley.
I did not vote and would have voted *for*. So to assume that all no votes would have been against would not be accurate. I did get the vote information on time, just spaced out and did not vote.
I do not share your views on management, so they have credibility with me.
Fair enough. Thanks.
Whether you agree with him or not, it seems to me that Strategy is the only person in this board who can articulate why he is still invested in this company.
Those who hate management either feel stuck with the stock or are just not very good investors.
Uncle, uncle. Ok I think I represent your typical clueless investor in this company who does not understand the oil industry, but through a friend and research thought this might be a good place to put some high risk money. So I did and held for a while.
Now I have lost faith in this company and am looking to decide if I should take the loss to offset some of my 2011 cap gains or wait until 2012 to sell. At this point, I am leaning to holding until next year, not because I necessarily think it will go up, but because my downside is .07 cents (cost basis .20). Its not much money I have on this compared to most of you.
So the point of this message is that when the average Joe Six Pack like me has lost faith, either it signals a bottom, or this company is cooked. It is not so much the .07 that kills it for me, but there is nothing coming out of the company that give somebody like me any hint that we will be better in 3 months than today. I understand it takes time for all this, but at the cash burn rate, what is it that will stop us from bleeding to death? That is the part that the company has not communicated. I can go with the *Partners wont let us disclose or the I don't know what our partners are up to*, but that has to be followed with some information on how you are managing the risk. Huge risk is part of this type of company. Risk management is what the leaders are being paid for and so far there is nothing coming out that even hints at a rational plan that manages *some* of the risk.
Merry Christmas!
This is going to sound far worse than I mean it to, but if you knew that their partnership approach was such a colossal blunder, why did you stay in the investment? I mean, something else must have kept your risk/reward equation in the positive.
Did you just equate SEO to Jesus and Buddah?
The fact is that we do not have a clue. We are banking in SEO's greed and desire for success in hopes that we can benefit to some extent in the process.
I have only played two penny stocks in my lifetime and this is one of them. The other one ended up at virtually 0.00. If I thought at any time that SEO/PN were in the process of screwing the assets, I will totally sell since .094 is better than .05
As long as the assets are there with a reasonable chance of monetizing them, I am holding. Somebody else pointed out the cash burn. That is a very good point and something that I consider as I, every morning, make a decision of hold/sell on this investment. So far I have held... for several years.
I am one of those lurkers that do not post much. I believe that we have unproven assets that have the share price where it is. I guess management could issues some PRs and prop the price up, but at the end of the day, the assets are what they are.
Why they are as silent as they have been, in my opinion, is because they do not have any meaningful to report. If our partners are OK going slow (for whatever reason) then they will have to go slow. They have certainly done some puzzling things, but I believe you have been more critical than deserved. I am not sure what you expect from a company that is dependent on others in order to exploit their assets.
I am here because I believe the assets have value. I also believe the share price is low because 1) The assets have not yet proven themselves (RISK) and 2) We are still a long time away from monitization of said assets (time to value). The biggest disservice to this company was the fact that many thought that the time to value was a LOT SHORTER than it turned out to be.
Management might not have been stellar, but at this point, they do not have much to work with in terms of solid information other than "we are waiting for our partners." If our partners decide they wont exploit these assets for another few years because they have other interests right now which are better for them to focus on, then we are stuck with that. It is what it is.
Thanks for the update. Will definitely keep him in my prayers.
Does anybody have an update on how BalanceBuilder is doing?
I go with thirties
Another rig exploded off the Louisiana coast according to cnn.com
The market action says that if there are news this PM, they are not going to be all that meaningful...
I am holding as well, but very carefully. While your argument is plausible, I have trouble completely buying it because how long this has gone on.
Basically, if you wanted to bring the price down so others could buy in, why not get it over with a year ago when the stock was in the .teens? In my opinion, SOE will never get $10 for a stock that is trading at .33 The buyer would have to explain that to his "people/shareholders/government". If he really wanted $2, a low price would be .50-$1. If he wanted $10 and that was a fair price, this stock would be in the $3-$5 with a discount for risk. At .33, with a large group of faithful followers, it tells me that nobody but those faithful followers believe that this could go for more than $1.
I have held this for over 4 years. The guy (and best friend) who recommended this stock to me died of cancer 2 years ago, so this is partly a sentimental hold for me. If this thing takes off, it would be my buddy giving me one last gift!
Finally, DK PR was hired as a crisis management expert in PR. The DOJ investigation is over, so the only crisis they have to manage now is the eroding perception of the Co. and the mgmnt team. This stock has some of the most stubborn, loyal, and passionate shareholders I have ever seen. EVER. I am scratching my head at the decisions made regarding the Shareholders meeting, information shared in there, website information/content, explanations of actions, etc. I can no longer figure out where they are or where they are going. Trust me, I represent the puny, little individual investor who would not know a dry hole for a a toilet hole or "biogenic methane gas" from a burp. It appears to this ignoramus that they had this meeting setup to share something else and at the last minute, they had to go with plan B. Plan B was sharing the same thing they shared on Dec 15th which drove the share price down 50% (.71-.35). The same news had a little better result (.47-.33) -30%. Interestingly, in the decline from 12/15 through 2/5 about 18M shares were traded. Last week alone, 12M shares were traded. Looks like some of the faithful capitulated this week and did not capitulate on 12/15 news. I almost capitulated myself before I noticed that it held support (I do not know oil, but I know how to read a P&F chart). So I held on.
Here is to you buddy, you thought this company would help you enjoy a comfortable retirement. May you rest in peace. It has been a wild 4 year ride. Too bad so far it just looks like one expensive ride and nothing else.
Thank you for your post. These are very encouraging words to me.
So wait, wait, let me get this straight. You read a couple of PRs and then went and bought this stock without doing any analysis whatsoever and now that you have lost $5k, you have decide to come here and go post after post to help us understand "The reality" behind this company and "save" us?
Oh please! Listen, we get it, you believe that this company is a scam. That is your well documented opinion. Now would you just stop posting it over and over and over? Talk about SPAM... you are just as bad as the pumpers.
I lost a bundle here too, but you haven't seen dozens of posts whining about it. Learn from this, stop buying penny stocks on news releases and move on...
This board is being played in this whole blog thing. If you read the stuff he wrote before and the last two blog entries, it just doesn't even come close to fitting even when the writer was in the fringe way back when.
My theory is that somebody hacked into his account and made the posts and now is laughing at the reaction. I mean, seriously, I'm on food stamps too? I will put you up? Living in the car?
Relax. Assume Mongo is back and ignore.
This is great. Thank you so much!
TGB - I would be interested on you thoughts.
OT: Make sure you stop by Flamingo Bay. One of the top 10 beaches in the world
Look, no I have not called Billy directly on this one. I have contacted him before, but not for this one yet.
Two points though. 1) I shouldn't have to call the CEO every time something material happens to this stock to find out what is really going on. 2) There is no harm in people asking each other pertinent questions. If you don't have the answers, then fine, don't answer.
I happen to think that the questions RUFF is asking are spot on.
I have tried to find answers to some of those questions unsuccessfully, so if anybody does have a perspective/answer, I would love to hear it.
Thats what I thought these boards are for: share and discuss the facts as some of us are not as skilled as others and the diversity of perspectives help everybody.
I lost all by friends by telling them the ERHC story a while back. I am just trying to hold on to me wife...
Wait a second... There is something screwy about that picture.
What was I thinking?
Well, it sure would be nice if either through the website or a news release he would give us some insight into his strategy. We are the shareholders and we are totally in the dark.
We should not be looking at the board for the answer nor should each of us should have to call the company to find out (assuming anybody would answer). Not that I am holding my breath or anything here, just basic, common courtesy to the owners of the company.
Unfortunately, right now, its my money...
So we are mostly dead? From the movie "The Princess Bride":
Inigo Montoya: He's dead. He can't talk.
Miracle Max: Whoo-hoo-hoo, look who knows so much. It just so happens that your friend here is only MOSTLY dead. There's a big difference between mostly dead and all dead. Mostly dead is slightly alive. With all dead, well, with all dead there's usually only one thing you can do.
Inigo Montoya: What's that?
Miracle Max: Go through his clothes and look for loose change.
Yeah, but who wants them other than you?
I agree TBG, we already lost most everything. I think Billy is in a desperate attempt to salvage what he can.
I actually think that Billy was trying to do the right thing with this company. The balloon gig looked for a little while like it had promise. It just didn't pan out. At this point, he might not have too many choices on who he partners with since his other option might be to fold. I am OK with him trying some desperate measures and again, he might be able to pull a rabbit out of the hat.
Lets remember that this is a pink sheet stock. Whoever buys this thing is willing to accept a lot of risk (and I mean a lot). I cannot be too upset with the outcome since I knew I was buying into a very risky venture. I learned my lesson...
Based on what?
Hope is not an effective investment strategy...
That line above is my lesson from this stock. This is the first and last stock I bought based on hope. I am glad I did not put money here that I couldn't lose because I sure lost it.
And what would possibly trigger that?
Facts? I am not sure those are public yet. But I will give you my interpretation of things. Please note that this is purely my opinion and I have had no conversations with any official from the company. It is my fantasy, so I get to tell it any way I want!
1) PRXT got in partnership with TechSphere and that didn't produce the results that anybody would like.
2) Mr. Robinson start looking for a plan B. From reading the PRXT filings, you can tell that the man can do one thing very well and that is to maneuver financial entities to keep things alive.
3) So he decides to use those skills to move his company and significant investment to a new direction... Financial/VC type work. Unfortunately, the worst sector these days is the financial sector, so why would you go out in that area in a market like these days. Best to wait for things to start turning.
4) So I think he is in a holding pattern. I cannot connect Proxity Financial to Proxity International except the change from "Financial" to "International" and the management team.
Frankly for me this is dead money. Not worth selling at this point and worth waiting to see if our friend Robinson pulls a rabbit out of the hat. I figure I would give this until year end and if I need a write off for other capital gains, then I will sell. Otherwise, hold and see.