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This is from the PR of 3/19/14: "We are in the middle of completing acquisition contracts."
The more recent PR refers to a joint venture, not an acquisition. The optimist in me says there will be announcements of other contracts and acquisitions in the coming weeks and months in the medical marijuana sector. The other possibility is that what started out as a plan to acquire a single target turned into a JV agreement by which Bayport will market a line of hemp-based products once it has a signed contract in hand. The work they claim has already begun on product design sounds like they are putting the cart before the horse without having a formal contract in place.
EXTO beginning to run.
EXTO -- Nice way to start off the week -- Green!
Now .002 X .0023
I liked that chart showing support at .0017 so I picked up a few shares today at that price and will sleep well tonight.
I could not find the accounting firm ZOMETA listed anywhere.
Check out the website of their new law firm, BCF Business Lawyers:
www.bcf.ca
We need to see daily moves bigger than one one hundredth of a penny.
As told to me by Clay Franks, the Company (EXTO) is planning to make acquisitions of entities that are already in the production stage. This could be a game-changer, and we should be hearing more about these plans early in the new year.
Expecting news from the oil division in upcoming weeks.
I'm more interested in the black gold. Results should be coming soon.
I guess that means this is not a scam.
If Bayport eventually increased its A/S to acquire projects that are already producing, would you consider that a scam, too? I'm not saying they will do that, but it is one way for them to become a holding company of producing entities which appears to be the new direction the company will be taking, beginning in 2013.
The year 2013 will be the year of production for EXTO according to Clay Franks. He expects the direction of the company to change in terms of future acquisitions. They now intend to focus on acquiring projects that are already producing.
That is a wise observation, that a company with more than one division would either be scam or legit through and through.. I just spoke to Clay Franks and he said he invites naysayers like yourself to call him directly to find out more about the legitimacy of the Company. If you are interested, here is his number: 903-920-5938.
You've already made your point 100 times about mining, but what about oil and gas and the division overseen by Walter Steele -- real estate? Why be fixated on mining when there are two other viable divisions? Mr. Steele was the main contractor for several huge construction projects. Do you think Bayport gave him 2M pfd shares to pan for gold? A single project under his supervision could bring tens of millions of dollars in revenues to EXTO. There is a lot of potential here but you have to look around to see it.
What EXTO does have in terms of mining is claims. We all know there will be no production in the near term but that they intend to develop mining operations over time. Patience is required. What we also know is that Walter Steele, an accomplished contractor with some huge projects in real estate to his credit, is now on the Board of Directors and is an Executive Vice President, as well, in charge of the company's real estate portfolio. This could be huge, but once again, patience is required. It is probably the oil and gas division that will be first to produce revenues.
If you have no faith in their mining division, consider their oil and gas projects and the potential of their real estate division under the direction of Walter Steele.
I believe it was in the Report of the Second Quarter that they stated a beta site was required to test their drilling before going to the first well they planned to rework. In that report they predicted there would be oil production before the end of 2012.
If anyone can confirm that, it will give us an idea as to when we can expect revenues. Otherwise, I'll put in a call to Clay Franks since this is his area of expertise, or so it is said.
It does not appear that the managers of Bayport are intentionally misleading shareholders, which seems to be the essential element in a scam. Inexperience and incompetence, well, that's another matter.
Yes, they do. Hopefully, EXTO will too.
Must be taking a loss to offset gains in 2012. Then, buy back in 30 days later at the same pps to avoid the wash rule.
This could run to a penny on news of oil production which may begin in 2012. Initially there were three mines that were to be reopened, but if even one of them becomes operational in the short term, we could see a nice run.
The symbol change has built-in meaning for the managers. They see it as the completion of all the administrative work they needed to get done so they could move on, get the funders to provide the needed capital, and to generally get this show on the road. It's a psychological hurdle, even though it looks to us like a non-event.
I think the symbol change will inspire the managers to shift gears and get this Company off the ground.
I'm looking forward to seeing revenues from oil & gas, mining, and eventually from their real estate ventures. If all of these materialize, we will hit the jackpot. If even one division is successful, our ROI will make us all very happy campers.
Rubs1 -- Wasn't there a claim that is expected to add .20 to the pps? When is that supposed to kick in?
Excellent DD! They should really post the other assay samples, though, and be more transparent in the future.
Thanks, rubs1, for the offer to call. Please do. If there were other samples taken, it should have been clearly stated in the PR and on the website. The company should be much more careful to avoid leaving so much room for shareholders to doubt the competence and straightforwardness of management. Please convey this message to EXTO. TIA
I am not at all experienced in that field, but my impression is that it is highly speculative, REE mining, that is. The assay sample report they posted showed gold and silver in quantities highly profitable, but why only one sample? Either way, they are still a long way from production, but oil drilling results should come much sooner. Also, Walter Steele should give the company a shot in the arm once he gets to work developing a real estate portfolio for them. The 2M pfd shares he received is compensation for his expected future contribution.
Git -- Why don't you contact the Directors of this company and question them on what you consider to be indicators of incompetence? Why do you keep bringing up the same issues here again and again?
No one here is answerable to you, but if you are a shareholder, the Directors of the company are. Give them a call if you really want to share your opinion and expertise, and see how they respond. You really shouldn't expect other posters here to defend the company against all of your negative statements and accusations.
People here with mining experience don't seem to be impressed by EXTO, but oil and gas is another story.
If all goes as expected, we should have production within six weeks.
The financials looked okay until I got to the very last line and saw an ending balance of $726,716,049. It should be the number of outstanding shares, not a dollar amount.
Interesting read.
Besides a more detailed assay report, the big news that should be announced by the end of the year will be production in the oil division, if we can trust the timeline most recently announced by Bayport. In April they said we could have oil production by June 30, 2012, but as you pointed out, there is always the likelihood of unforeseen delays.
Good read, ND, and yesterdays gains will be lost if volume is not sustained. That's why we need to see a detailed assay report and more news about other divisions as well.
It does seem that the area of expertise of the Directors does not lie in the field of mining, but this is no scam. It appears to be a learn-as-you-go endeavor, but it is a sincere endeavor nontheless. As long as they are properly guided by someone who is more experienced than they are, there is every chance the endeavor will be successful. IMO
In one week we will be half way through the fourth Quarter. I have a hunch we will not see revenues before the end of 2012. I do expect to see a comprehensive assay report by then which could double the current pps if the assay results are shown to be positive in the aggregate. When oil production is announced, we could easily see .01 again. Rubs1, I know you have the required patience to make bank here.
Didn't the last PR say the projected income from one claim, the one from which assays were provided, would justify a share price of $.20? Then why are we sitting at .0013? That's a 150 bagger from here. Why can't we get any traction to move this along?
Actual production and the resultant revenues is the key, I believe, to a higher sustainable pps. Plus, they really have to put out regular PR's of substance to maintain interest in their tiny start-up enterprise.
Good to see the Nevada SOS names Walter Steele as a Director. Thanks for the link. Now Bayport should update its website to reflect the same.
Walter Steele was named Executive V.P. on July 23, 2012 and will be handling Bayport's real estate portfolio, from what I was told.
It's been more than three months since the announcement was made, and they have not added his name under Management on their webste. I wish they would be more attentive to this type of administrative detail.
Stating the precious metal content of a single assay sample and then calculating the value of the entire claim based on that sample was very misleading. Looks like Bayport is back to its old tricks from a year ago. They should post the overall assay results ASAP to give shareholders a clear picture of the company's true economic viability.