Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The Los Monteros hotel in Marbella, Spain has reopened for business on August 13, 2010 after having debt troubles. The hotel was sold to a private group. The hotel is trading under bankruptcy protection with no debt at all. The article mentions Ernest Malyshev and Northwest Oil by name.
http://blog.elitemarket.com/2010/08/los monteros-reopens-after-debt-trouble/.
I am only a buyer of Northwest Oil Grp. Let's enjoy the ride up.
OOAG has had a spectacular run. GBDX and OOAG were victimized by the same group. Recent actions suggest that FINRA is going after Brokerage firms that distributed unregistered stock without a restrictive legend to investors. An anti money laundering program was never in place for many of the firms that handled this type of stock.
GBDX was never indicted. Only the promoters who made illegal gains on the sale of unregistered stock or issued false Press Releases. Conviction on RICO violations carry a 25 years to life sentence.
I remain very optimistic. Whoever is going to buy GBDX in South Africa is looking for a clean shell. All the bad is out in the open.
How is it possible for BEDA to have such a large number of shares trading daily with such a small public float? Trading activity suggests a public float in the billions of shares. Are there any other companies out there like BEDA with such a large NSS relative to public float?
I'm still holding on to my shares. The trading environment is just great for companies like KSWJ.
Tuesday, April 27, 2010
http://www.finra.org/Newsroom/NewsReleases/2010/P121331
FINRA (Financial Industry Regulatory Authority) fines five brokerage firms $385,000 for the sale of Unregistered Securities, other Violations relating to Penny Stocks. They were also found to have an INADEQUATE ANTI-MONEY LAUNDERING PROGRAM. FINRA found that 4 of the 5 firms FAILED TO DEVELOP AND IMPLEMENT A REASONABLE ANTI-MONEY LAUNDERING PROGRAM AND FAILED TO DETECT AND REPORT THE SUSPICIOUS ACTIVITIES OF ITS CUSTOMERS WHO INGAGED IN THESE TRANSACTIONS.
Didn't the Dodge group deposit the $12 million they received from the illegal naked short sales in offshore bank accounts in the Cayman Islands? Did any of the brokerage firms have an anti-money laundering program in place when the hundreds of millions (billions?) of unregistered GBDX shares from Jeffrey Turino et,al were issued to the public who bought them.
We may see even more dilution than the 110,000,000 shares yet to be sold by Truimph. 58,600,000 shares were issued by BGOI from the conversion of various loans, accounts payable and executive compensation (per 10K). There is a 2008 loan that BGOI is attempting to convert into common shares. I have been doing research into the completion of the Sprayberry pay zone. There are wells that come in as high as 300 BOPD with flush procuction. However, production tapers off to about 5 to 10 BOPD. What event is it that will change the direction of BGOI?
Buyins.Net states that 3.24 billion shares are short. However, the public float is stated as 404 million shares. How do we reconcile this. It appears that shorting took place on Wednesday. Why would someone be shorting if BEDA plans to buy back half of all the O/S or public float. It doesn't add up. Is the buy back for half the O/S or half the public float? Where is the money coming from to do this.
I am very troubled by the number of loans that are in default. There may be much more dilution than what I touched upon. BGOI has no cash on hand and can only raise it through the sale of common stock. I am looking for a good entry point.
COYOTESAZ is too conservative in his analysis of BGOI. I have analyzed all the dilutive items in the most recent annual report. There is about 135,000,000 shares yet to be disposed of by Truimph. In addition, there are 58,600,000 dilutive shares caused by the conversion of various loans, accounts payable, and the granting of executive compensation which was converted into common shares. Then there is the matter of a balance of $425,000 on a 2008 loan which may be converted into common stock. This is what the management of BGOI is hoping to do with the creditor. This may increase the dilution by an additional 170,000,000 shares. The net effect is raising the total float to about 1 billion shares. Could BGOI eventually drop below .001?
NWOL has access to all the capital it needs. There doesn't seem to be any interest in becoming transparent at this time. NWOL recently purchased the Los Dunas 5 star hotel in Marbella Spain for in excess of $100 million from a Lebanese investor. Details of the transaction were made private. The Libyans and Royal family of Saudi Arabia have hotels in the vicinity of the NWOL assets in Spain. It boggles my mind why this company is not trading in the $10 to $20 range or more.
NWOL currently has 4 licenses for oil production in the Saratov region of Russia. Total proven and probable oil reserves are about 208,000,000 barrels. NWOL last mentioned that they produce 120,000 metric tons of oil a year. This is equivolent to about 900,000 barrels of oil per year. In addition, NWOL purchased as many as three 5 star hotels in the Marbella area of Spain. The hotels cost about $100,000,000 each.
SZNG, the parent company from Russia, owns 59% of the outstanding stock of NWOL. Vladimir Putin owns 1/3 of the stock of SZNG. NWOL has 23.5 million O/S. There is a public float of 5.5 million shares. One shareholder owns 10 million shares (Sinopec ?) of NWOL. These shares are restricted. According to one of the prior posters there is a NSS of 10 million shares (twice the public float). The Dodge group is involved in the shorting of this company.
The MM's are bidding up NWOL. They have picked up most of the cheap stock on the way up. NWOL doesn't have any need for additional capital. Otherwise, they would be issuing PR's like some of the other pump and dump companies. NWOL has some great partners like Sinopec and wealthy Lebanese.
I have studied the annual report for BGOI just released. Did you overlook the conversion of loans or debt (other than Truimph) into stock. Also, the issuance of stock for executive compensation. Finally, the issuance of stock to acquire assets. These items are dilutive. This means there is more than 140 million shares yet to be dumped by Truimph. It may be too difficult to separate the Truimph dumping from other dumping coming from the other areas. The conversions are made at .0025 per share. BGOI has very little cash on hand. Where will they get the cash to finance their operations other than dilution. Production was mentioned on the 2 Apclark wells. No numbers were mentioned. The Spraberry formation is too tight to open hole produce. I remain very optimistic.
NWOL could run several hundred times in price if there was some transparency. NWOL has connections that are as good as any in the oil industry. I own a lot of shares. I plan on doing a lot more buying in the future. This investment requires a lot of patience.
I still think it is much too early to start accumulating again. Truimph will dump another 140 million shares before the nightmare is over. You suggested the dumping would stop mid April. I stated the dumping will be done as late as June. I don't believe .0050 will hold. My target is .0030. I am excited to find the results when BGOI starts testing the Sprayberry pay zone. There should also be a lot of commercial gas from that zone. We should find out the results in the next 2 months.
I assume the new CMKM Transfer agent will fine tune the prior cert pull. There are some very difficult decisions that have to be made with the shares.
The Department of Home Affairs office handles immigration/permanent residence requirements in South Africa. I am reviewing these requirements. Also, the Immigration Act of 2002. It is much easier for a foreign entity to start doing business in South Africa if the company already employs South Africans. This is the case with GBDX.
CMKM Diamonds is doing a cert pull. They have a new Transfer agent. I will follow closely how the new Transfer agent deals with the unregistered CMKM shares without a restricted legend. They were given to Edwards, et al for services that were never performed. There are hundreds of billions of these type of shares. There is also a massive naked short position in CMKM. The same issues are also present with GBDX. However, in a much smaller scale. I applaud the SEC for finally getting their act together.
I will explain why GBDX replaced the two Russians on the Board of Directors of GBDX. They were replaced by two South African blacks. Also, why GBDX relocated to SA. South Africa introduced a "use it or lose it" policy in mining about 2001 that granted the Prime Minister discretionary powers to strip mining companies of their mining exploration rights in the interest of BLACK EMPOWERMENT promotion. Small and junior mining companies employ 20% of the mining workforce. This legislation allows for the confistication of mining properties that are not worked on by the larger white owned companies in South Africa. Small mining companies can now negotiate with the SA government to be granted concessions to the confisticated properties. This will work favorably for GBDX.
THERE MAY BE A RESIDENCE REQUIREMENT IN SOUTH AFRICA THAT GBDX IS FULFILLING. This is before they can do anything there.
I have TRADED grey sheet companies before in significant amounts. I had my broker call the floor trader to see what shares are available. Then I bought or sold. EVIDENTLY, SOMEONE HAS A STANDING ORDER to buy GBDX shares at the floor price or near to it. Whatever the volume. There is no transfer agent. The shares traded may be used to cover short positions. It will become more difficult to pick up shares as time goes on.
I believe it is getting safer to go above the floor price. I have yet to see anything derogatory about the GBDX management in any Federal proceeding.
The Dodge boys can't knock the stock price any lower than what it is. Have you tried to buy any GBDX shares lately?
The thrust of the Federal indictment against Helen Bagley is that she cooperated in the selling of unregistered securities without a restrictive legend to CMKM shareholders. These securities were granted to Edwards, et al for alleged services rendered. She is facing a prison term of 20 years to life. Bagley was arrested when she was served with the Federal indictment. She may be out on bond until the trial commences. During this time, Bagley's attorney may be filing motions to sever her from the other defendants. Also, she may be offered a plea bargain to disclose where the assets are.
I don't think we will hear from Orangeman3 and his accomplices again. THEIR ASSIGNMENT ON THIS BOARD IS COMPLETED.
Centurion gold looks like an interesting investment. The iBox states that CGHI has an extensive portfolio of mineral properties in South Africa. However, the stock continues to drop. Is this mainly because of lack of transparency?
Botswana and Namibia are two of the largest diamond producers in the world. I like what I read should GBDX consider the trading of their shares on either of the local exchanges through a merger or being taken over. I have emailed Darby Uguma expressing my views on where the takeover or merger should take place. It seems that both of Global Diamonds partners are getting busy in both countries. Excellent post which should be of encouragement to GBDX shareholders.
The dilution of BGOI is starting to slow down. This is probably because it is getting harder for Truimph to dump shares without dropping the share price too low. The complete dump may go into May or even June.
CGHI appears to be worth much more than it is selling for. Low O/S.
The next 180 million shares that are being dumped into the market are going to be hard to absorb. I think BGOI will fall to as low as .002. I don't think there will be any PR's issued until after all 180 million shares are dumped into the market.
Do you have an accurate O/S count. Also, what is the public float. The share price could be alot higher if the company released some current information.
Excellent post. Sometimes these small companies resort to bad deals for the shareholders to raise cash. I think you confirmed that the direction of BGOI will continue downward until results are announced on the Apclark drillings. That was smart that BGOI drilled two deep wells. I don't have familiarity with the formation they are drilling into to understand difficulties in the completion of each well. Other than the casing gas pressure they must have encountered as they reached total depth (TD).
The money from the dilution of BGOI stock may be going into further drilling of horizontal wells on the Apclark field. Or to acquire nearby leases. each new well should cost at least $200,000. BGOI doesn't have much capital to work with. The only way they can raise capital is to dilute the stock.
Most of the big producing fields in the JoMill Spraberry formation are drilled to depths of about 6000'. The 2 BGOI wells were drilled horizontally to a depth of 10,000'. I'm sure, BGOI is encountering problems with casinghead gas pressure. In the old days, the gas used to be flared. There are probably some productive zones higher up in the casing that are being tested. The JoMill Spraberry formation only produces about 15% of what oil is in the ground. Horizontal drilling substantially increases the amount of recoverable oil.
For me, it is too early to buy in to BGOI.
I am real interested in hearing the outcome of the 2 - 10,000 foot wells drilled into the JoMill Spraberry formation on the Apclark field. The wells, if succesfull, could encounter some good commercial casinghead gas in addition to oil. I'm sure, there are gas gathering facilities nearby. It may be possible to bring in these wells in the 300 + BOPD area. Then, the sky is the limit for this company.
The stock price of BGOI should continue its downward trajectory until it reaches .002. The price won't hold at .005 with that much dilution ((500 million shares O/S). Then, I may be a buyer. Good completion results on the drilling of two wells on the Apclark field will change things in a hurry.
LHRP looks like an empty shell. Otherwise, I would be interested in buying some shares. Are you aware of any Nursing Home stocks trading on the Pink Sheets or OTC BB.
Neighboring NUMIBIA has the largest concentration of diamonds of any country on earth. It is estimated that Numibia has 1.5 billion carots. Much of the country is largely unexplored. This is where I hope GBDX finds a suitor. The country also has a growing gold mining industry.
Mary Turino (wife of Jeffrey Turino) has a 2 million dollar house in Clearwater, Fl. The step daughter to Jeffrey Turino was driving a brand new Mercedes Benz. Her name is Jennifer Lynch. Both parties have numerous bank accounts that Turino set up for them. That's why the Federal judge signed an emergency Order freezing all Turino family assets. Jeffrey Turino does not have to be present when his assets are being liquidated. I understand the associates have some good assets.
The CMKX and GBDX situations are not the same. There are too many shares out there for CMKX shareholders to collect anything. I am more optimistic about a Court Order distributing money to GBDX shareholders.
The Federal judge will have to sign a Court order directing how the proceeds from the judgement for fraud from the Turino clan will be distributed. There should already be money in the crime victims fund for distribution. This fund is normally set up immediately after the judgement is entered. The Feds file the judgement with the county clerks office in any location where the defendant has assets. We are unsure if the money is to go directly to the GBDX shareholders or to the company (for distribution to shareholders).
It's kind of nice not being taunted by the paid bashers from the Dodge group. Perhaps the papers ORANGEMAN3 received was a subpoena for something other than "civil rights."
I have had extreme good luck buying into companies that were taken over by a foreign company. One company I traded was Chapperal Resources (Caspian Sea play) that was bought out by Lukoil. We don't know where the buying of GBDX is coming from. Perhaps from South Africa. The trading volume is an indicator of how close we are to a merger or takeover of GBDX by an African resource company. There are other regional stock exchanges that I have not mentioned nearby to Tshipisi, South Africa. An SEC administrative hearing should have happened when GBDX issued its last PR in 2008. It did not. There is probably no reason to have the charter revoked. GBDX is not the same situation as CMKX. It is not correct to make any comparisons other than both used the same transfer agent. Also, that there was outside manipulation of the share price. An indicator that the merger or takeover will eventually happen is when the two Russians were replaced on the Board of Directors by two Africans.
The best we GBDX shareholders can hope for is an African company from neighboring Numibia taking over or merging with GBDX. There are only 7 listed local companies on that exchange. Numibian stocks are always in short supply. The business community tends to buy the shares. However, they don't sell them. This creates a constant upward pressure on the share prices. Numibia is well known for its high quality diamonds.