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Sorry for the typos - I don’t see an option to edit post.
It does NOT matter if I am the only one....
No but I think it’s fair to say the forensic accounting they hired and the auditor whose license is on the line will not let it out until all the known transactions have been properly accounted. Which means all you Parana are going to be really disappointed. There are so many salacious things you guys confidently say that I think and hope has no basis in truth.
As JRobin says, we will find out when the filing is done
The fact that we all know they are doing means all the trash talk about them being “shut down” is profoundly false. Temporary Suspended trading does not shut a Company down- not even close to the same thing. You guys do that so much. It does matter that I am one of the five or six people on the forum who say these things. Truth doesn’t rely on democratic votes.
Everything you just said is wrong
You seriously think they Haven’t had that information for many years?
I haven’t been on here. All my chips are going on the table
If you’re wise you won’t put any money on that bet against CEGX
I did not say they aren’t responding for 60 days. It was my understanding they had at least that long to respond. I don’t think it will take that long
Correct- but not in their website press release. I think the context of the filing is clear they want Tim and are concerned about protecting shareholders- that’s their mission. Cardinals response will be coming within 60 days. Filings would be a game changer in my opinion.
You sound very confident
Contrary to a lot of factually challenged posts there was zero criminal allegations made. The Bradford folks should be depressed because all the filing will do is prevent Tim from being involved in certain companies. This is a civil filing to stop activity and maybe levy fines. The Bradford folks were barely mentioned and no allegation of fraud to them. I think that clearly indicates the feds have no intent of taking up their cause, and Tim isn't going to cast a shadow on an jail cell for this deal. If Cardinal gets filing updated, the suspension likely falls off. Given the facts, this is close to a best case scenario for us Cardinal stockholders, not for Bradford investors. On the SEC website the title of the press release mentions Tim, not Cardinal. Hopefully, that confirms their thinking is in line with my thoughts.
Your a smarter man than I will ever be, however, you allow your bitterness over betrayal to make some really wrong conclusions about the people involved. Time will tell. Even though I have profound disagreements with some of what you say, I am very hopeful there is a way to make the revival of this company work for you.
I know a company is doing it now. It can be done at tremendous profit and I see no reason why it cant be continued.
That’s not an accurate reflection of widely known information at the time people were making those decisions. Like I said, if people knew what they were getting into, you would be right. The current reputation has nothing to do with new business plan, which doesn't involving leasing nor drilling. If the reputation was as bad as people on here think it is, how have they put together the new business plan. The answer is because the people involved have good track records and relationships.
Your question is not asked in a way that business works.
Have you ever taken a job and already known all there is to know about the financials of the company. Of course not. Does that make you crooked or incompetent? Of course not.
He knew it was bad but he has been through that before. This isn’t his first rodeo with the guy who put him in this company.
I don’t think anyone involved has ever seen anything like what they uncovered nor expected the mess they are cleaning up.
But I believe they are in fact trying to do an honest and legit restructure with a solid innovative business plan. But can they get past the existential threats? Time will tell.
As they have attempted to put together financials, I am certain that type of question has been asked MANY times. But if the answers never come, then you have to go the long way around. And as new issues arise, the process starts all over. I think you can read that into Stan’s reply posted on this forum. I think it would help to re read his statements every time you have a question like the one you just proposed. Then read into his statement what he likely can’t or isn’t able to give. Timing statements with other moving parts can get in the way as well.
IF the information is accurate and if they have records of BJVP. Maybe I am wrong (clearly we think differently), but if BJVP was run by renegade CEO (and there is a legal separation of entities) then reporting requirements may not be on them and if it is then gaining accurate records to report would be a challenge.
Much anger on this forum is due to lack of communication when communicating would potentially violate the law. And, is impractical if the books have been in such bad shape.
Think about that statement... lack of communication
In a public company, communication is heavily regulated. Stan appears to be saying the books were inauditable. If that’s the case then they couldn’t communicate for fear of SEC punishment if their statements were wrong. The house has to be in order before they communicate and he has said it has taken them this long to get the house in order.
...Only if they knew them to be scammers at the time. Do you think any BJV Partners knew the guys running the show were a scam? Keep your mind open that just because this forum may have known about the BJVP scam doesn’t mean other knowledgeable people knew. I am fully confident of this... If current mgmt knew what they were getting into they may have never gotten involved and maybe key investor cuts his losses.
Stan’s reply posted on here refers to a key investor. I am certain that guy is the only thing keeping the doors open, likely because he doesn’t want to lose what he has invested and has the money to make things happen... things like get Stan as CEO.
I understand your propensity to take the worse view of things given the way things have been but can’t you at least see that no scams nor crimes have been committed by current mgmt. Just maybe they aren’t sinister guys. Maybe they have been working their asses off to get this ship righted.
Someone on this forum once answered that these messy matters, as described, can take a very long time to sort out.
It is not logical to assume because one person is helping two upside down companies heal at the same time that that same person caused the companies to go upside down, nor that that same person was part of the problem
...in your character assasinations
You are profoundly wrong
Does this response from Stan sound like a “never do well” or someone who has a plan and knows what he hopes to do. There are always risk with such projects but he had rescued others and this investor has called on him yet again. There is a lot of understandable anger on this forum but reason may still win the day for shareholders. I don’t think Bradford Investors have much hope, and that is where the severe anger resides.
Some of what people say Stan should be doing is being done (read his response) or is planned when the time is right. People on here don’t know the whole story and the Bradford folks don’t care and some take a scorched earth approach. If SEC agrees with them, then we shareholders will be in as bad a shape as Bradford folks. If SEC says, let’s smack them but not crush them, and let’s go hard after perpetrators of Bradford screw up individually, then there is hope for us. “Hold on tight, a little longer”.
I don’t think one can ever expect to get a get return on true Promoter ran oil investment- that is simply not a way to get into the business. Someone who has been dissed on the forum teaches people that a warning and many more (some covered in two recent article posts).
It looks like a well-done article that is pointing out a common problem in the industry. Even worse than that scenario are stories of what have been done with joint venture partnerships. But I do not understand about the article is how they said that somebody making $10 an hour can qualify as an accredited investor. This seems to fly in the face of the clear rules. There was another story about the engineer who didn’t have $1 million and somehow he invested as well. All legitimate company will only offer oil and gas investments to accredited investors, which means $1 million. Nobody makes $10 an hour is an anywhere close to that threshold.
That helps me understand where your point of view. It’s totally reasonable why you would think that way. But I think there’s information you don’t know that has prevented that release. Maybe Things beyond their control. You have no idea how bad it is when there are no records to report and someone has to figure it out and then get auditors whose career and reputation is on the line to approve that reconstruction
I have looked through all the "evidence" this forum has provide over the last 2-3 months and I see plenty of proof for your points on Todd and Tim, but putting the past on current administration with no evidence is non sequitur.
This forum has some good information and insights but it goes completely off the rails of logic at times in vilifying people who appear to have no connection to the misdeeds. There is no evidence against current administration doing anything new to "fraud", "scam" or "steal", just anger over past admin who clearly deserve the worst the legal consequences possible.
Maybe I shouldn't have used the word "fraud". Clearly you are saying Doug is not a good guy because his company had this compliance issue. That's not fair. Anyone involved in a national business knows how challenging 50 states rules of compliance can be missed from time to time. No big deal.
Your reply brings up another point entirely, i.e. all O&G cold callers are bad news. I believe there are good guys in that industry, so I would disagree but that is another discussion.
If you are saying Doug is bad because he cold called for O&G company, that is a really broad brush and I believe many successful O&G investors would disagree with you. Success is out there but there is FAR more bad than good in that industry, so I totally get where you are coming from. It's just not a fair statement to make, i.e. Many/most people are hurt in this industry so the whole industry is bad.
This is an unfair statement. Read what you posted. No fraud is alleged. It's a simple failure to be listed with state regulator. If your doing business in 50 states, that is a very easy compliance thing to miss. No big deal. I understand you are angry, but that is an unfair charge.
It would be real interesting to see if that was really true at the time. Maybe previous management was managing partner and said it was CEGX in marketing and/or used CEGX address. If it is true, then when did it change? I believe CEGX is NOT managing partner of BJVP today nor has been in well over one year. One can't believe anything said by previously referenced management. Documentation likely available with the state. Can you send me your posts referenced so that I can see documents alleging that CEGX was managing partner of BJVP.
I am curious as to facts existing up which you base your linking of CEGX with Bradford Joint Venture Partnership. I think CEGX is just a part owner like all the other understandably disgruntled investors.
They are NOT involved. Tim was severed in an announced in public release December 2017. If you want to know what Stan is doing then read his response someone posted. Stan has a very credible history.