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Take care ChannelTrader! There's always been some potential here but they've never followed through. Remember when they said for the longest time that this would be huge once they started reselling fuel. Then they just silently got away from that and now all of a sudden it's getting leftover oil from holes that others left behind. Maybe not a horrible idea but then the financing was horrible and all these shares hitting the tape over many months has killed us. Hopefully you guys will recover some of your loss with whatever plan they put together. Maybe...
Who knows. When I first posted that I was going to email the company I got a reasonably prompt response stating that the CEO was going to call me. Well, that never happened. So when I emailed our old IR person back, I never got an answer (he said to email him back if the CEO didn't call me). Then I decided to email our new IR person and she responded in a few days telling me to have patience that things were moving forward. That's been weeks now. I just figured that even if they came up with some sort of marketing plan the amount of shares hanging over us was just to much and I don't think they have the money to retire all those CD's. GL and I hope I'm wrong and this turns around for a big gain for all those who've been here forever.
I'll still be hanging around as I still have a few shares left. I did hear back from the new IR person a while back stating to have patience that a IR program is being developed but how many times have we heard that before. If you have any other great future picks, just let me know! Hopefully this will turnaround for those who are hanging on.
I've moved on. ADNY has proven to me they aren't interested in the shareholder. GL to those who are still hanging around. Bliz...
I'm actually amazed there's only 135M shares outstanding as of today. Seems hard to believe that we've only added less than 13M shares since November 14th and only 26M since March 30th of 2011. Either way, most longs are down over 90 percent and without paying off this convertibles I don't see how we can stop the slide. GL to anyone still here.
Haven't had time to look through the 10K but I hope to do that in the next few days.
http://sec.gov/Archives/edgar/data/700815/000114420412021690/v309224_10k.htm
If anyone cares anymore about our dead company.
http://finance.yahoo.com/news/adino-energy-corporation-announces-delay-130000887.html
And where's our 10K? It's late!
She may be a great marketing person but they are also going to use her for IR so you would think they would want someone with experience in the field. I'm stuck now so I guess I'll hang around for a little longer until I see what she can do. I've e-mailed her to see if I get any better response this time. Several weeks back I was supposed to get a cal from our CEO but it never occurred. Another email to IR went unanswered. We'll see if we get any better responses now. Not holding out much hope. I want to know what the heck their plan is for these convertibles. Without paying those off and getting rid of them, we have no hope imo. We'll be at .001 or less in a few more weeks if we continue to see millions of shares hit the tape every week plus our valuation will be even worth with the added shares to the O/S.
Every day those shares are hitting the tape. I don't think ADNY cares one iota. I've been trying to get a response back from management on what's going and how they plan to combat this. My guess is they don't have a plan or the money to pay these convertibles off. And if that's the case, we'll have 10s of millions of shares hitting the tape over the coming months. I want management to prove me wrong and say this is nearing an end. Good luck with that!
Not until management addresses our convertible notes. We have another worth $37,500 due on April 12th and then one on June 12th.
The terms are not favorable. Do the math on that and it's pretty ridiculous. Take 65% of say .008 and divide that into $37,500. Just another 7M plus shares from just that one note! I've been trying to ascertain the status of these notes to no avail. Have we been able to pay some off? Are we going to get hit with more massive dumping when they convert another note next month? ADNY would rise probably a thousand percent if they announced all these notes were paid off with the money they made selling off our fuel terminal. One can dream...
During the third quarter of 2011, the Company issued two nine-month convertible promissory notes to Asher in the amount of $37,500 each. The notes have maturity dates of April 17, 2012 and June 12, 2012 and an annual interest rate of eight percent (8%) per annum. The holders have the right from and after the date of issuance, and until any time until the note is fully paid, to convert any outstanding and unpaid principal portion of the note, and accrued interest, into fully paid and non-assessable shares of common stock. The note due April 17, 2012 has an initial conversion price of sixty five percent (65%) of the three lowest closing bid prices for the ten days preceding the conversion date. The note due June 12, 2012 has an initial conversion price of fifty six percent (56%) of the three lowest closing bid prices for the ten days preceding the conversion date.
Oh yeah...and these too!
During the second quarter of 2011, the Company issued two nine-month convertible promissory notes to Asher in the amount of $53,000 each. The notes have maturity dates of February 16, 2012 and March 23, 2012 and an annual interest rate of eight percent (8%) per annum. The holders have the right from and after the date of issuance, and until any time until the note is fully paid, to convert any outstanding and unpaid principal portion of the note, and accrued interest, into fully paid and non-assessable shares of common stock. The note has an initial conversion price of sixty five percent (65%) of the three lowest closing bid prices for the ten days preceding the conversion date.
So how many shares have been converted recently? Are we attempting to pay these off or will we be hit with 10-20M or more shares over the next couple months?
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=8237776-1222-151235&type=sect&dcn=0001144204-11-063239
Because there really hasn't been many good PR's and they are few and far between.
We need an update on our drilling and a more in depth look for
the future and what it means to us shareholders.
We need the plan from ADNY on dealing with what most of us assume are CD shares hitting the tape from Asher.
It wouldn't take much for this to be trading 10 or 20 times higher with effective communication and more frequent updates.
I'd also like to know if they can pay off some of these CD's so we can avoid future dumps in the coming months. With our tight SS, we can certainly have a nice run but that's up to management and giving us shareholders a reason to hold (or add). I'm heard back from IR but I'm waiting for a call from management.
These are the notes with Asher that I'm worried about. How many shares have been converted recently. Could be a mixture of shares hitting and some investors deciding to quick dump. Either way, we need some answers!
On August 11, 2010, the Company issued a convertible promissory note to Asher Enterprises, Inc. (“Asher”), in the amount of $57,500. The note had a maturity date of May 13, 2011 and an annual interest rate of eight percent (8%) per annum. The holders have the right from and after the date of issuance, and until any time until the note is fully paid, to convert any outstanding and unpaid principal portion of the note, and accrued interest, into fully paid and non-assessable shares of common stock. The note has an initial conversion price of fifty eight percent (58%) of the 3 lowest closing bid prices for the 10 days preceding the conversion date and full reset provision. The note’s convertible feature was valued and resulted in a debt discount of $35,838, which is being amortized over the nine month note life, using the straight line method. In this case, using the straight line method approximates the effective interest method, given the short time to maturity. The Company has the right to redeem the note within 90 days from the date of issuance for 150% of the redemption amount and accrued interest. See Note 16 for a complete discussion of the derivative treatment and accounting of the Asher note.
During the first quarter of 2011, Asher converted $34,000 of the notes into the Company’s common stock, resulting in an issuance of 1,862,833 shares to Asher. During the second quarter of 2011, Asher converted the remaining balance of $23,500 into the Company’s common stock, resulting in an issuance of 2,036,820 shares to Asher. See Note 16 for a detailed description of each conversion.
On September 2, 2010, the Company issued convertible promissory notes to investors in the amount of $400,000, to fund financing and start-up costs of the recent Petro Energy acquisition. The notes have a maturity date of September 2, 2013, with accrued interest paid quarterly and an annual interest rate of eight percent (8%) per annum. The holders have the right from and after the date of issuance, and until any time until the note is fully paid, to convert any outstanding and unpaid principal portion of the note, and accrued interest, into fully paid and non-assessable shares of common stock. The note has a fixed conversion price of $0.10.
On January 10, 2011, the Company issued convertible promissory notes to investors in the amount of $272,500, to fund drilling activities associated with the recent Petro Energy acquisition. The notes have a maturity date of January 9, 2013, with interest accrued and paid at the option of the holder at an annual interest rate of six percent (6%) per annum. The holders have the right from and after the date of issuance, and until any time until the note is fully paid, to convert any outstanding and unpaid principal portion of the note, and accrued interest, into fully paid and non-assessable shares of common stock. The note has a fixed conversion price of $0.35.
During the second quarter of 2011, the Company issued two nine-month convertible promissory notes to Asher in the amount of $53,000 each. The notes have maturity dates of February 16, 2012 and March 23, 2012 and an annual interest rate of eight percent (8%) per annum. The holders have the right from and after the date of issuance, and until any time until the note is fully paid, to convert any outstanding and unpaid principal portion of the note, and accrued interest, into fully paid and non-assessable shares of common stock. The note has an initial conversion price of sixty five percent (65%) of the three lowest closing bid prices for the ten days preceding the conversion date.
During the third quarter of 2011, the Company issued two nine-month convertible promissory notes to Asher in the amount of $37,500 each. The notes have maturity dates of April 17, 2012 and June 12, 2012 and an annual interest rate of eight percent (8%) per annum. The holders have the right from and after the date of issuance, and until any time until the note is fully paid, to convert any outstanding and unpaid principal portion of the note, and accrued interest, into fully paid and non-assessable shares of common stock. The note due April 17, 2012 has an initial conversion price of sixty five percent (65%) of the three lowest closing bid prices for the ten days preceding the conversion date. The note due June 12, 2012 has an initial conversion price of fifty six percent (56%) of the three lowest closing bid prices for the ten days preceding the conversion date.
The Asher note’s convertible feature was valued and resulted in a debt discount which is being amortized over the nine month note lives, using the straight line method. In this case, using the straight line method approximates the effective interest method, given the short time to maturity. The Company has the right to redeem the note within 90 days from the date of issuance for 135% of the redemption amount and accrued interest, from days 91-120, the Company has the right to redeem the notes for 145% of the redemption amount and accrued interest, and from days 121-180, the Company has the right to redeem the notes for 150% of the redemption amount and accrued interest. See Note 16 for a complete discussion of the derivative treatment and accounting of the Asher note.
http://sec.gov/Archives/edgar/data/700815/000114420411063239/v239790_10q.htm
Who's dumping? Shareholders or Asher? I've e-mailed the company to see if they know what's going on. How many potential shares does Asher have to sell? Are there plans to pay those CD's off? Where are we at with those right now? A few things shareholders need answers too. I am still holding all my shares fwiw!
I'm just afraid it's more Asher shares hitting the tape. Without a solid, sustained IR program from ADNY, we may be toast. Heck, we already are since most of us bought in much higher. There's no doubt there's probably value in this company and it could still be a big play for us but right now we need help.
Way to go ADNY! Now we're going sub-penny! Why do you think we (the long time shareholders) kept telling you to get the communication going and help support the company and thus our shareholders. You better do something now! More than just a PR!
A few more 100K dumped since Thursday. ADNY we need some support here!
Well I'll take that as some good news. They never could get that terminal profitable so hopefully this money will be put to good use producing some profitable wells.
Hey Adino how about an update on the wells and future plans to improve shareholder value???
Classic!
Someday maybe we'll get an update! It's going on 3 months since the last CFO blog and the last PR dates back to before Thanksgiving! We sure could use some shoring up!!! ADNY you out there?
Stop all the yelling and BS!
Nothing strange about us at all. I'm more miffed by the constant complaining which has not been good for us. The company had 500K of revenue in the last K and we're likely to see some nice projects with Aderra down the road. Reggie has had only a few short months in charge and I suspect he'll come through for us in the next few Q's. I've been invested in a lot of penny stocks over the years but I've never seen one with this low of O/S producing significant revenue trading at 001.
So as of our latest filing we still had 87K of 203K convertible to go through. If I read this right, we've probably eaten through all of the March 2011 CD and now we're working through the April 2011 CD (hopefully winding down). The May 2011 CD will be a likely player then in February (9 month CD).
Welcome aboard. I agree! Let's get this ship turned around. A company with mid 6 figure revenue (O/S of under 200M in our 10K) and we're trading down here? Totally ridiculous! We should be in the pennies!
Thanks for the update Superhoops! I also remain very optimistic over the next few Q's. Low share structure, 500K in the last K and huge potential down the road. Our Ihub board needs to turn more positive and supportive so we can get more investors that see the potential here. I still hold all my shares and I'm adding when I can.
Time for an update ADNY! It's been 2 months!!
For all the new and potential RTGV shareholders, do your own DD and see what RTGV has going for it. How many other penny stocks actually have significant revenue (500K) (from Digital Clarity) in the past year with a SS under 200M O/S and is trading at a ridiculous tenth of a penny? Hopefully we're getting rid of the last of the shareholders that wanted out and that will set us up for a nice ride in 2012. We should be at multiple pennies now and I suspect we will in the next couple Q's. Meanwhile, shares at this price seem mighty tasty! GLTA RTGV shareholders!
I guess that makes you a significant shareholder!
I still think RTGV has great potential! I'm still holding all my shares (which I still add to from time to time). GL!
Quite frankly I'm tired of all the complaining about RTGV. Give Reggie some flipping time and quit the constant complaining! To be honest, the constant complaining has impacted our stock. Everyone needs to take step back and see that we have a solid revenue producing company with huge upside potential. Take a breath and let them grow over the next few Q's.
Just catching up on posts over the last week and this PR sounds very good to me! It's going to be a great 2012 for RTGV!
Digital Clarity is actually a 30% net profit business but due to our overhead with staff trying to grow the rest of our business, we of course don't have a net profit yet. I'm nowhere near as negative as some on management or where we're at. I still think the market has treated us as a start up penny stock with no business and no revenue. Digital Clarity has NEVER gotten it's due and neither has the revenue it's been producing. When people start realizing we actually do have significant revenue and that our upside potential is huge, the turnaround will begin. I think it will be soon!
Finally got a few minutes to review the 10K. Here's a few tidbits from my review.
Current O/S: Only 197,692,250 as of 12/13/2011.
Last year's O/S: 162,702,219 (12/13/2010)
Very well managed over the last year. A LOT less than many expected!
Revenue: 540K through mid-August. I'm sure this will be MUCH higher over the next 12 months! Less overhead now too!
Neither Linda nor Neil received a penny of salary again this year.
Reggie was paid in full (170K).
Linda still has all of her 16M shares!
Neil Gray still has all of his 6M shares!
Lancer Corp sold a couple million in the past year but still own 13.5M through Lancer Corp. Barry has only 11,625 and his son has 2M. (Last year the Lancer Corp had 17.8M)
6 Full-time employees. No litigation.
I thought the 10K was well written and we should all be excited about our potential going forward now with Reggie at the helm and a new focused outlook and plan.
Bliz...
I think we have about 2B shares already factored in. Oh yeah, we don't even have 1B or even 500M. It's just bizarre that we have a 7 figure penny stock but yet it's treated like some start-up with no revs. Oh well...that's why it's fun to play at this level. Invest just spare change and see what happens. I still really like our potential. We'll see...
Excellent and very exciting update! Why anyone would sell now is beyond me. Borders on insanity! Time to add a few more!!
Looks like this latest MOD change could be costly. Reminds me of what Netflix did recently. What they thought was a simple change to improve business could actually cost them their entire business! Ihub may end up in the same boat.
No plans to sell here whatsoever. Not when DC is a growing 7 figure company. Expect some interesting developments and continued growth in 2012. Long way from my 3-5 year plan yet so just kicking back and seeing what's up Reggie's sleeve. If people would stop selling, we'd probably be an easy 10 bagger or more in no time!
Back on track and picking up steam again. Really looking forward to 2012 and beyond! Having Reggie at the helm should give us all confidence!
Excellent. Sounds like taking what we already have with Digital Clarity and then growing and expanding from there. Looking forward to further updates!
Brutal day. We better see some upside volume this week or we're going to lose everything we've gained recently.
I've also felt the same way for many months. Another reason I want RTGV to win big!