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Well Pilgrim,
I hope you have a lot of patience. I bought 200K @ .003 thinking that should be a test near the bottom. Not so. Massive selling will drive this down until the share spigot gets turned off. Not sure if it's shorting or inside selling w/ Cornell. No more of my $$$ going here until this changes and I can confirm.
Cheers,
DD
Not answering calls! Gosh, imagine that! LoL
Next time you leave a message ask him if he knows how to spell
L I T I G A T I O N.
It's coming, just like the sunrise tomorrow.
Cheers,
DD
MM bid walk down. No more buys for me until confirmation.
g62,
Agree. Made first round of buys at EOD yesterday.
Charts still need to shape up but the background here looks better than most. They need to let this have some air. LoL
Been noticing more MM games in the past two weeks. Large spreads and partial fills on many.
downside,
Thanks. Agreed.
DD
BTO
FTD,
10-4 on the profit taking. I bought most of my holdings in this at .055 then dumped all at .05 as the chart and trading action told me IRBL would be walked on down. Re-entered on the high volume games at .012. Recovered 60% of my penny share purchase Friday and will exit the remainder Monday to ride free shares. This is prudent to me having seen the manipulated walk down you noticed. If my freebies go to .07, I'll tip my hat to IRBL.
GLTU
DD
Post # 1489
Matty,
Your post: "He just does not get it."
The longer that this stock stays in limbo with no / limited trading (depending on what EDI you use) and the longer that issues remain unknown and unresolved for shareholders, the more likely it is that JP does get it. And the mgt / legal team "got it" long ago. Some might say that's pessimistic. I say it's realistic. I've had too much experience with pink sheet operators.
On one hand I'd like to think that JP is on the up 'n up and we will have an accounting for what went wrong and how they set things right. Couple that with good production news and KGLJ goes UP!
Reality check: On the other hand, I will not be surprised if JP was singing his song to John just to buy some maneuvering time for legal games. Seen it done many times before in these shark infested waters.
So here's the challenge:
Get this stock right side up by disclosing ALL to shareholders ASAP! Prove to us that the recent issues have been dealt with properly, the SEC is satisfied, the brokerages are satisfied, and KGLJ is a revenue generating legit business with an acceptably clean structure. A continuing failure to do so increases suspicion - and rightly so.
FWIW: JP and his legal eagles must be smart enough to know that a combined shareholder suit will put a clamp on precious time and resources.
Tick tock
I .007
downside,
I too have been patiently waiting. Got tired of questioning with no meaningful responses from company or SEC. When you reach a point where your focus shifts from waiting to the assets, get in touch.
DD
greggor62,
I had to unplug from IRBL at .05 with my last post of walk-down. I'd sent e-mails to Caterpillar for verification of commitment of their skid steers for Inrob UGV tech and didn't like the responses. Also didn't like the lack of response to several e-mails sent to IRBL and their IR regarding relevant questions of production, tech and share price declines.
If they really are going to produce from the Philippines plant, they should do a better job of updating shareholders of the progress. Especially as the PPS continued to reel off after the announcement of new facilities.
Obviously they don't care about shareholder stake. I took the downside hit on this and my rescued $$$ and plugged it into SOLM along with what I already had there. Upside on SOLM when I sold healed me up. :)
I still occasionally watch this. If they ever look like they'll stop bleeding, I'll play it for the bounce. But IMO unless there's something stellar IRBL can pull off it's a short pop play for me (if I do it at all.)
GLTY
DD
GC, Hope you held through the dip. Picking up those
.07 & .08 shares could be really sweet as this goes forward.
DD
Then we do share some common history. I worked the Williston Basin, the overthrust region and did oil, gas and mineral deposit logging across the western US and AK for Schlumberger (OH) and under contract to several other field engineering companies. We sometimes ran our OH tools in tandem with geophysical exploration.
DD
For anyone interested in the effects of an R/S:
In this instance, the management of this company decided to reverse split MGRA with only positive PRs and paid touts PUMPING the company before they did it. 1:200 R/S effective 03/31.
Ticker changes to MGRN, all the web sites change showing "no news" and MGRA at a sub, sub penny price begins trading as MGRN with the first trading activity showing up 04-02 at a price of $.75 per share. Since no PR or filing has been put out, one can assume that the only change is shareholders with 10,000 shares of MGRA now have 50 shares of MGRN. Since the same lame a$$ mgt is running the same lame a$$ company, I predict the price will fall immediately. It's now 04-03 and, sure enough, the last trade is $.50 with a bid of $0.05 and an ask of $0.70. Off 33.33%.
Note: TDAmeritrade will tell you that they have fulfilled their duty to swap out the shares but the T/A for MGRN has not returned the swap shares. The TDAmeritrade depository has no payable date established for the new shares therefore they won't trade MGRN - even as the price plummets.
So...in short, the R/S erased the history of MGRA and MGRN starts new and the fraction of shares that former MGRA shareholders have can't even be sold since MGRNs T/A is sitting on the swap shares as the price falls - virtually guaranteeing that prior shareholder positions are absolutely worthless.
Question: Would you say the R/S and handcuffed trading is by chance or orchestrated?
Duffau - well said. And not lengthy ;)
If the halt problems are resolved and I believe it because there is a transparent trail, I'll be right in there saying "that's more like it."
And if we get operations news from JP that rocks I'll say "this looks good." Until then, glossing things over with happy face posts is a disservice IMO to KGLJ newbys and anyone else who truly wants to understand what's going on before they buy or sell.
Not bashing at all here - look at my first posts. They were about the drilling area, reserves potential and assets. Then we halted. I'm still waiting on lots of disclosure from company and SEC before I get all warm and fuzzy. But I'd like to see KGLJ's issues cleared and explained and the stock openly trading as much as anyone else.
Cheers!
DD
First:
Thanks John for your contact. Keep calling.
Duke:
You are not alone, my friend, in your line of questioning.
Every time I get a new piece of intel here, it raises new questions. If a new 15c2-11 was tendered in Oct. and the SEC had issues, why did trading continue until the halt in 03-2008? If the SEC is now simply waiting on a new 15c2-11, does that mean that they accept the old shell as valid for trading? Are they going to issue any statement revealing the who and how of the shell issues so shareholders can quit guessing as to the quality of the shell and the likelihood of some future repeat? Is the company going to do likewise - or just let the PPS bounce like a yo-yo while KGLJ tries to find a market (other than grey/)?
I'm not sure how much slack is due lawyers who rely on concerned shareholders to send them the contacts, phone numbers, e-mail addresses, questions to ask, due diligence etc. etc. etc. Should we be billing them? Do they need directions to the restroom?
Message: Tick tick tick. SOLVE THIS AND REPORT TO THE SHAREHOLDERS - before you're reporting to their attorneys.
BTW: The attorneys I have in mind don't need me to tell them
how to reach the SEC or KGLJ principals.
I truly hope JP enjoys some time away. But if this sounds like someone who's growing weary of the dark veil, then I'd say that's a really good observation.
Not that satisfies me. I'm still really interested in the timing of the halt in the first place. Then there's the explanation of what they have discovered in the ensuing days since the halt regarding exactly who is responsible for the shell debacle . It is still within the realm of possibility that this entire event was orchestrated to part the shell (and thus the shares / shareholders) from the assets. Until I have acceptable proof that's not what is happening here, it's on the table. And until we have a clearer picture, I, like downside, will neither buy nor sell. Doing so muddies the water even further and jeopardizes your right to take legal action in the event that's necessary.
IMO only the shares that were held pre-halt have a pi$$ant's chance in he_ _ of being recognized if shareholder action is brought to bear. FWIW
DD
MD, I'm not reading anything into the trades. I just posted that to show that the trades did occur. They wouldn't post the transaction volume with a date and time stamp unless the trades executed. So...trades are occurring. And I'm with downside. They are occurring in a vacuum. Shell issue is not resolved as far as we know. Trading platforms and MM's are in disarray; SEC hasn't given any specific response (although they're so lame I've come to expect no better) and company hasn't presented any concrete evidence of what's taken place pre or post halt - that's what we do know.
Anyone who has shares of KGLJ and cares about them should be digging and demanding answers and a fix to the problems ASAP.
DD
Kingslake Energy Inc. (KGLJ)
$ 0.025 0.00 (0.00%) Volume: 257.0 k
11:08 AM EDT Apr 1, 2008
Time & Sales
Price Size Exch Time
0.025 10000 OTO 11:08:42
0.017 51000 OTO 11:08:30
0.028 2500 OTO 09:35:04
0.03 500 OTO 09:34:38
0.03 10000 OTO 09:34:37
0.026 8000 OTO 09:34:29
0.035 50000 OTO 09:34:10
0.026 25000 OTO 09:34:00
0.025 25000 OTO 09:33:46
t 0.025 25000 OTO 09:19:44
t 0.025 25000 OTO 09:18:13
0.025 10000 OTO 03/31
0.02 19950 OTO 03/31
0.008 15000 OTO 03/31
0.01 36155 OTO 03/31
0.005 1500 OTO 03/31
0.02 75000 OTO 03/28
0.02 35000 OTO 03/28
0.01 75000 OTO 03/28
0.02 15000 OTO 03/28
0.01 15000 OTO 03/28
0.02 1000 OTO 03/13
downside, way too much guessing going on here.
Reason: way too little specific information coming to shareholders by the SEC and the company. I know two east coast attorneys who are good at inviting people to share what they know. Wenn Sie wissen was ich bedeute, Freund!
DD
downside...on point. IF (i emphasize if) there is a play here by parties whomever that intend to strip the assets and leave shareholders with worthless shares they are in for a very rude wake up call. No further concrete evidence from the co that it's untangling this mess doesn't put me in the mood to absolve them.
Perhaps adding a shareholder suit to the mix will get their attention. PM me when your patience runs out.
DD
downside,
After the Enron (etc. etc. etc.) Worldcom (etc. etc.) Global Crossings (etc. etc. etc)on top of the wild west world of pinks I look at things from alot more angles. Take this SEC halt. Do you suppose that KGLJ and the other 25 were the only questionable shells? A: No! So why the timing? Funny that Cramer /others announce HUGE BREAKING NEWS that will cause other gas co's to have investor $$$ and PPS that ring the bell. But as you stated, not this dead horse.
Why would anyone want to run this into the ground with a SEC investigation? I mean the assets are supposedly there. The wells and all those acres under lease. Hmmmmm.....didn't you make the point of questioning asset control if KGLJ stops trading and gets bottle necked in litigation and trying to uncoil the shell predicament?
I tell ya, these *&%$#@* lucky stock 8 balls never lie! LoL!!
Latest whisper on the street (unverified) is that their new plan for MGRN will be a trust that oversees the pensions of widows and orphans.
Here's a bit of investor advice:
Think MG RN instead of MGRN.
MG RN MG RN Get it?
Now think RN RN RN OK?
Now, when the new symbol start trading you know
what to do. RN!!!
RN away!!! RN far away!!! RN far away fast!!!
LMAO!!!
See there! LoL! POS management must read these boards. They saw my post # 142!!!
downside, I'm with you - especially that last sentence.
downside,
Your post, ".. I think that when the laundry finally airs fully, as it will, some regulators will go to jail along with industry operators. Congress is investigating... laws will change... the next election will see changes that ENSURE heads will roll."
The BIG picture is that there are few hens left hiding in the corners of the hen house and too many foxes (shills, fraudsters, regulators, legislators) to tell them apart. So... on goes the fraudulent behavior with results we can track. Over and over again. I believe a huge deterrent would be appropriate punishment. Notice that when one fox does rat out another, the punishment for the crime is "no involvement in the market for six months."
To the SEC: Get real! Anyone involved in defrauding the market who gets that kind of slap on the wrist is laughing all the way back to the boiler room.
I say we invite all of the players listed above to join a two day fishing excursion off the keys where we could discuss the solution to these problems.
MM's as dumb as mgt here. Hope they're both reading this.
W/O NEWS or update on trading activity having a B/A spread a half a mile apart ensures NO TRADING dimwits! Not that it matters much.
bronktru - you know I have voiced similar sentiments on this board. Even reposting and crediting you with some of your Yahoo posts because they made good sense and I agreed with them. If accountability to the shareholders is not forthcoming with a resolution to the problem(s) by co management and the legal team, send me a message and I'll PM in return. I will work with you to begin the less desirable, but perhaps necessary process of forcing responsive action.
Seems like a continual walk down on low volume. IMO IRBL still has potential - called CAT. Chart forced me to sell all original shares as price trended down to hold only shares in the fives. Sometimes you take no gain to have powder for lower priced buying. No news and this could seek even lower prices. I do like that the OBV has held even as the price has dropped and the RSI is touching oversold while the CMF has been way green.
A little confirmation and it could be time to buy some more IRBL.
Ohhhh Nooooo! Mister Billlll! Cheerleaders and MOD have left the building! LoL!!!
And on it goes. See Post # 211 huge trading
at the EOD.
Here's some more. Note this EOD trade / price from Friday:
Pinks,
The Form 211 page 1 lists the same San Antonio address as I found in the NV SOS Search for Kingslake. From my post 1197:
Director - STEVE SCOTT
Address 1: 1777 NE LOOP 410
Address 2: SUITE 600
City: SAN ANTONIO State: TX
Zip Code: 78217 Country: USA
Also look at Note #2 Going Concern and the entity transitions are what Pinksheets shows. There's an accounting of oil & gas properties in Note #3.
IMO we shouldn't have to speculate on what is really going on. Someone in the company HAS to know. Obviously the SEC wants to know and so do we. It is no longer speculation to say that Kingslake and NAGF originated from NV. That's factual. I did not report as fact that Matthew Bardasian was involved here, only that he was involved in Sport of Kings Marketing (Sport of Kings, Inc.?) and that he was involved in the Desert Winds scam.
I sincerely hope he's not involved in Kingslake. Read the SEC link I posted on Desert Wind and you'll see what a shadow that would cast on the company's legitimacy. For the umpteenth time: The company and only the company can put the speculation to rest. The truth (if we ever get it) will either come from the officers &/or the SEC. Either way, the longer the questions go unanswered, the more it hurts the PPS and shareholders IMO. I'm not here to cast gloom and doom but I also refuse to put lipstick on a pig. Just searching for what's really going on here.
You too.
DD
I took the short cut. I went to NV SOS site and searched
Sport of Kings (Pinksheets actually doesn't have the full name so I had to Google a bit) Then Kingslake and then NAGF, LLC
Here you go:
From Pinksheets: KGLJ
• Formerly=Triad North America, Inc. until 6-06
• Formerly=Sport of Kings, Inc. until 4-06
• Formerly=Electronic Specialty Products, Inc. to 9-91
From NV SOS searches:
SPORT OF KINGS MARKETING, INC.
Business Entity Information
Status: Permanently Revoked on 6/1/2006
File Date: 9/19/1997
Type: Domestic Corporation Corp Number:
C20275-1997
Qualifying State:
NV List of Officers Due:
9/30/2000
Managed By:
Expiration Date:
Resident Agent Information
Name: GEORGE RITTER
Address 1: 316 CALIFORNIA AVE
Address 2: #1109 City: RENO
State: NV Zip Code: 89509
Phone: Fax:
Email: Mailing Address 1:
Mailing Address 2: Mailing City:
Mailing State: Mailing Zip Code:
View all business entities under this resident agent
Financial Information
No Par Share Count:
0 Capital Amount:
$ 25,000.00
Par Share Count:
25,000,000.00 Par Share Value:
$ 0.001
Officers Include Inactive Officers
President - MATHEW BARDASIAN
Address 1: 126 ISLE ROYALE CR
Address 2:
City: VACAVILLE State: CA
Zip Code: 95687 Country:
Status: Active Email:
Secretary - RUSSELL PONCE
Address 1: 2419 TAMARISK Address 2:
City: SANTA ROSA State: CA
Zip Code: 95405 Country:
Status: Active Email:
Treasurer - RUSSELL PONCE
Address 1: 2419 TAMARISK Address 2:
City: SANTA ROSA State: CA
Zip Code: 95405 Country:
Status: Active Email:
Actions\Amendments
Click here to view 4 actions\amendments associated with this company
KINGSLAKE ENERGY INC.
Business Entity Information
Status: Active on 9/25/2007
File Date: 7/11/2005 2:53:34 PM
Type: Domestic Corporation
Corp Number:
E0471502005-8
Qualifying State:
NV
List of Officers Due:
7/31/2008
Managed By:
Expiration Date:
Resident Agent Information
Name: EASTBIZ.COM INC
Address 1: 5348 VEGAS DR
Address 2: City: LAS VEGAS
State: NV Zip Code: 89108
Phone: Fax:
Email: Mailing Address 1:
Mailing Address 2: Mailing City:
Mailing State: Mailing Zip Code:
View all business entities under this resident agent
Financial Information
No Par Share Count:
0 Capital Amount:
$ 500,000.00
Par Share Count:
500,000,000.00 Par Share Value:
$ 0.001
Officers Include Inactive Officers
President - JAMES PAGNUM
Address 1: 6370 L.B.J. FREEWAY
Address 2: STE 178
City: DALLAS State: TX
Zip Code: 75240 Country: USA
Status: Active Email:
Secretary - JAMES PAGNUM
Address 1: 6370 L.B.J. FREEWAY
Address 2: SUITE 178
City: DALLAS State: TX
Zip Code: 75240 Country: USA
Status: Active Email:
Treasurer - JAMES PAGNUM
Address 1: 6370 L.B.J. FREEWAY
Address 2: SUITE 178
City: DALLAS State: TX
Zip Code: 75240 Country: USA
Status: Active Email:
Director - STEVE SCOTT
Address 1: 1777 NE LOOP 410
Address 2: SUITE 600
City: SAN ANTONIO State: TX
Zip Code: 78217 Country: USA
Status: Active Email:
Actions\Amendments
Click here to view 7 actions\amendments associated with this company
NAFG, LLC
Business Entity Information
Status: Active on 7/30/2007
File Date: 6/15/2006 2:00:05 PM
Type: Domestic Limited-Liability Company
Corp Number:
E0448032006-3
Qualifying State:
NV
List of Officers Due:
6/30/2008
Managed By:
Managers Expiration Date:
Resident Agent Information
Name: EASTBIZ.COM INC
Address 1: 5348 VEGAS DR
Address 2:
City: LAS VEGAS
State: NV Zip Code: 89108
Phone: Fax:
Email: Mailing Address 1:
Mailing Address 2: Mailing City:
Mailing State: Mailing Zip Code:
View all business entities under this resident agent
Financial Information
No Par Share Count:
0 Capital Amount:
$ 0
No stock records found for this company
Officers Include Inactive Officers
Manager - J.A. WHITE
Address 1: 6370 LBJ FWY STE 174
Address 2:
City: DALLAS State: TX
Zip Code: 75240 Country:
Status: Active Email:
Actions\Amendments
Click here to view 3 actions\amendments associated with this company
_________________________________________________
Thanks, Stockslayer for opening the door. There's a lot more that JP needs to disclose. But you can look at the above info and this link which clearly implicates Matthew Bardasian in the Desert Winds scam.:
http://www.sec.gov/litigation/complaints/complr17462.htm
The picture is getting clearer as to why JP might be getting threats and his "lawyers" have advised against any statements.
It looks like all of these are organized in NV and possibly that M Bardasian could have something to do with this. Time will tell but if these ties exist, it would certainly explain why KGLJ made the 26 list.
OK So post the info on the original FL corp that was hijacked, the linkage to KGLJ that proves the relationship, and the connection of KGLJ to the (named) criminal. These threads are only useful if we can collectively piece together the facts.
It's the company's responsibility to put out factual info that supports them - if they have any. One could argue that silence in the face of the halt implies that something smells - and it ain't NG. On the other hand, we need to post verifiable info too. I'd like to read the scoop and connect the dots to the FL corp and the criminal you refer to. Please post.
TIA
I don't get it!!! LoL This increase in volume should mean that the shorts are covering and the insiders are buying!!!
Why is the PPS dropping!?!?!? LMAO!!!!!
Stockslayer06 please post direct evidence that links
Michael Paloma or Matthew Bardasian to KGLJ.
TIA
DD
Stockslayer06
John posted:
I also told him about the NAFG thing and he said “I bought this company and I paid for it, I even asked back in 2005 if we shouldn’t change the name (I’m not sure who he was referring to, other than his backer’s maybe) and they said “Why should we? We paid a lot of money to get this all registered.” JP said “I told them I didn’t care about the money, I don’t ever want to have this happen to me again, and they said no, it’ll be OK.”
I posted in # 1069:
Although the address for NAFG, LLC is in Dallas, TX a search of the TX SOS data base produced no such organization. So I searched in KY. Result below.
(Important – I considered that this could be a different company using the same name until I opened the annual report dated 02/27/2007 The member manager who signed the report is: J Allen White Sr 6370 LBJ #174 Dallas, TX 75240 ) Note the filing as Foreign Ltd Liability Company
Link:
http://apps.sos.ky.gov/business/obdb/showentity.aspx?id=0643579&ct=06&cs=99999
Organization Number 0643579
Name NAFG, LLC
Profit or Non-Profit Unknown
Company Type FLC - Foreign Limited Liability Company
StatusA - Active
StandingG - Good
StateNV
File Date7/25/2006 Authority Date7/25/2006 Last Annual Report2/27/2007 Principal Office5348 VEGAS DRIVE
LAS VEGAS, NV 89108
Important to notice from the above that NAFG, LLC address is in Dallas, TX (actually same as reported for KGLJ in other posts) and that the managing member filed as a foreign company. Here’s where it gets even more interesting: The LLC showed up not in TX, but in KY when I searched there. Click the link for yourself to confirm. It appears that NAFG, LLC is tied to KGLJ by the address and the managing member. In addition, see John’s post in the first paragraph where he asked specifically about NAFG. JP’s reported response does not deny NAFG involvement in KGLJ. Lastly but very important, note that the principal office of NAGF,LLC (a Foreign Limited Liability Company) has their principal office located in Las Vegas, NV
I’d say there is plenty to divulge to investors. A transparent PR or explanation posted on the web site would be a step in the right direction. There are only so many ways I can say that.
DD
Said Douglas MacArthur. LoL