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I'm assuming you are referring to a warrant. A warrant is the right to purchase xxx number of shares at a specific price. That price could have a variety of determinations before it is finalized.
1. stock pps at time of warrant execution may determine the warrant purchase price...ie...warrant value is 25% below current stock pps.
2. warrants may or may not be exercised for a variable length of time...as long as 15 years in some cases.
3. Pre-agreed upon company performances may determine when the warrants may be exercised.
4. pre-agreed upon company progress ( execution/completion of business plan) fulfilling the loan requirements.
5. stock warrants are not part of the OS until the warrants are actually executed and the warrant holder receives the shares. At that time they become Issued shares and part of the OS...even if they are not sold into the market. The Outstanding, Issued, and Treasury share totals combined are always equal to or less than the Authorized share total.
various items/restrictions/incentives may trigger the ability to exercise a warrant. typically with OTCC/pinksheets those items/restrictions/incentives become much more volatile/flexible than say warrants for Apple, or Exxon. or Amazon.
keep in mind there is a marked difference between Authorized, Issued, and Outstanding shares.
Today's action
symbol
PGPM
pps close
0.0034
% chng
-29.17
$ vol
547,184
share vol
174,243,570
# of trades
863
looking at the date...probably both.
How Trump Plan Would Ease Mortgage-Lending Rules
Tobie Stanger 6 hours ago
Consumer Reports has no relationship with any advertisers on this website.
The Trump Administration's plan to loosen financial regulations could make it easier for many banks to issue mortgages—and for less credit-worthy Americans to get them.
The proposed financial overhaul, unveiled late Monday by the Treasury Department, is aimed at easing many of the regulations imposed by the 2010 Dodd-Frank Act, which was passed in reaction to the 2008 financial crisis and mortgage-market meltdown.
Mortgage bankers say the new proposals could help unplug the mortgage pipeline for many borrowers who have been shut out by Dodd-Frank. But detractors say easing current regulations could put individuals who can't afford to repay their loans—and their lenders—at financial risk, which is what helped spark the financial crisis.
Other proposals in the 149-page Treasury report, which is similar to a financial overhaul bill passed last week by the House, would change how the embattled Consumer Financial Protection Bureau (CFPB) is funded and run.
But while the House bill faces an uncertain future in the Senate, most of the Treasury proposals could be implemented without going through Congress, Treasury Secretary Steven Mnuchin said.
Redefining 'Ability to Pay'
One of the biggest changes involves the so-called ability to repay, or ATR, which requires lenders to document that borrowers can pay back their loans. If the loan meets ATR standards, it's considered a "qualified mortgage."
Issuing a qualified mortgage protects the lender from a lawsuit by a borrower in default who claims he was sold something the bank knew he couldn't repay.
To be eligible for a qualified mortgage with a bank or other private lender, a borrower's total debt must be no more than 43 percent of gross income. In mortgage-speak, that's called a debt-to-income ratio.
One proposed change would allow banks to raise their debt-to-income ratio for qualified mortgages from 43 percent to match the 45 percent now used by Fannie Mae and Freddie Mac, the quasi-public entities that buy most home mortgages in the U.S.
Fannie Mae will raise its debt-to-income ratio to 50 percent for loans originating after July 29, 2017.
"Right now, private lenders are at a disadvantage compared with their competitor, the federal government," says Keith Gumbinger, vice president of HSH Associates, a mortgage information website headquartered in Riverdale, N.J. The change, he adds, could allow more borrowers to get bank loans.
Another proposal would let banks with up to $10 billion in assets take advantage of a rule that lets smaller banks meet fewer requirements for a qualified mortgage. The Treasury also proposes raising some qualified-mortgage caps on fees and points.
'Rules Need Fine-Tuning'
Banking organizations, particularly community banks, have complained since Dodd-Frank was enacted that the current rules are overly restrictive, and have suppressed post-recession lending. They contend that relaxed regulations would allow for more flexibility in lending to borrowers with non-traditional or irregular income, such as the self-employed.
"The changes will allow community banks to do more loans outside of that tight, qualified-mortgage box,” said Paul Merski, executive vice president, congressional relations, Independent Community Bankers of America. "Banks could customize more loans to the needs of the community."
Merski added that a lot of the mortgages that community banks make in rural areas, for instance, aren’t cookie-cuttter, 30-year, fixed loans, but specialized agriculture farm loans. That type of lending has dropped considerably in the past several years, he said.
Supporters of the existing rules maintain that they protect consumers from the type of bad loans that triggered the housing crisis in the first place. And they maintain that community banks and other small lenders aren't hurt by current standards.
"We have not seen evidence that the qualified mortgage rule, as it now, is restricting lending," says Sarah Edelman, director of housing policy at the Center for American Progress, a left-leaning, Washington, D.C., think tank. "Tinkering with the qualified mortgage rule, providing relief to community banks when they already have relief, isn’t going to move the needle."
Karl Frisch, executive director of Allied Progress, a progressive consumer watchdog group based in Washington, D.C., noted that the Treasury's mortgage changes, coupled with more lax rules related to how much capital banks must keep in order to make loans and the defanging of the CFPB, could presage another financial fiasco.
"If there's a problem in people having access for loans for home buying or otherwise, is the solution to offer loans they can’t pay off?" he said. "Make it easier for consumers to have mortgage problems, make it easier for lenders to lend money with horrible terms, remove oversight or ability to hold financial institutions accountable, and what you get is a perfect storm for another crisis."
Changes to qualified mortgage rules do not require legislation and could be implemented directly by the CFPB, which is a division of the Federal Reserve. Recently the CFPB announced it was taking comments on qualified mortgage rules with an eye toward making changes on its own.
Gumbinger, the mortgage information expert, acknowledges the risks and benefits of loosening regulations for borrowers and lenders.
"Any time you expand a definition of what's qualified, there could be some enhanced risk," he notes. "But with Fannie Mae's changes, the market is adopting a higher level of debt already.
"These individualized tweaks that allow lenders to go after certain reasonable niche audiences is not a bad thing," he continues. "What we have to avoid is the layering of risk like we had before: a subprime borrower with no down payment and alternative income stream."
at least 10 years or longer...if I remember correctly, JPHC was out of vancouver BC...Paivis might have been a Georgia company...or at least HQ'd there...SCPT I believe was in Arizona...maybe New Mexico...and was involved/affiliated/merged with Motion DNA. Been too many years to remember a lot of details.
3 companies that I can recall. Jupiter global holdings...ticker JPHC...then they merged with Paivis ticker PAVC...both now defunct...nothing from either in at around 10 years. I recall another company got involved with them in a merger called trustcash...that was about the time I gave up on them. the third was a company called sports concepts ticker SCPT....don't think they have done anything in a decade or longer either.
agreed...problem is, as you've found out...they have no interest in giving you any information over the phone. I have seen the CE removed in around a month, and I've seen it take 6 months. The issue is...did the company give them everything they required...was it all accurate and verifiable...are they over worked...on vacation...having a bad hair day...one can't get them to give you any good info...I've tried for many years and it has been no different than what you received from them.
hopefully soon we will find out.
The general info is available on the OTC Markets website. They don't much like you to call them as you've found out.
http://www.otcmarkets.com/learn/otc101-faq#learn-market-faq4
When is the Caveat Emptor warning removed?
Generally, OTC Markets Group will remove the Caveat Emptor designation once the company meets the qualifications for Pink Current Information, has verified the information on its company profile on www.otcmarkets.com, and OTC Markets Group has determined that there is no longer a public interest concern, typically no sooner than 30 days. Information on how to qualify for the Pink Current Information market designation can be found here. During the time it is labeled Caveat Emptor, any stock that is not in Pink Current Information will also have its quotes blocked on www.otcmarkets.com.
Click here to learn more about the Caveat Emptor Policy.
some further info
http://www.otcmarkets.com/marketplaces/otc-pink
thanks...yeah...the RRC website was giving me fits again last night...will check them out.
I am sure hoping this plays out as a good investment for peeps this time around. We got caught years back, but were able to recover...hoping my last 625k shares can buy me a new truck...lolol
thanks again...I have most of this info already...here is a quick link to check out. not much info, and what concerns me is that they decline to disclose the funding amount, and the offering is for less than one year.
I feel it will be a PIPE transaction and can possibly end in major dilution....but who knows...miracles do happen...lol
Thank you sir...I had forgotten about Lariat. I did a bit of looking and have yet to find the Lily Hooks field listed at the Texas RRC.
all in all...I hope this plays out for everyone and they win...I just can't ignore the history pinhead has ...lol
gonna do some more digging just to satisfy myself on this...thanks for the info
ncpti...sure has been a long time. where is this verified info? would love to see it. Question still remains...will the share holders make any bank on this.
I've seen the pr about the 3 mil investor...but nothing other than that...no name..now DD at all for the investor.
there is a form D filing rule 506(b) but it doesn't disclose anything at all as far as $$$ value. I suspect a PIPE transaction which could be why so many shares have come into the market.
if you can post some info I can research I would sure appreciate it.
getting burned way back then still leaves a bad taste in my mouth. Hope you were able to recover yur nickels...I did and, a few extra as well...took 10 yrs, but at least I was able to.
of course it's possible he will do something positive. that the company will actually turn out to be real with real assets and benefit shareholders. I personally don't believe that is what will happen, but if it does..that's great for the people that have money invested here now. I got out after 10 years with a decent profit, and still hold some shares in one of my accounts...a lotto play for me at this point as they are freebies now.
My concern is when oil was over $100 bbl...he had all these wonderful assets and went dark...why come out touting great things when oil is less than half that value now?
what happened 10 years ago is exactly what is happening now....had fantastic assets...lots of money...great filings...the sky was the limit on their plans...then poof...nothing...went dark for almost a decade with a ton of bag holders and no verifiable assets.
as far as him being involved with "too many companies"...not an issue with the number of companies...it's the QUALITY of them. not a single one of them has any verifiable proven tangible assets that can be positively tied to him.
hey...I'm not about to suggest that you or anyone else invest/not invest in this...I'm simply showing verifiable info that shows his proven track record is pretty much a disaster. as I said earlier...I was lucky enough to get my money back and then some after 10 years...good luck to you and all if you win on this.
exactly...it's his HISTORY.
Think about it...he has a company (with no money...all on paper only) that buys assets from a company (with no money...all on paper only)that is financed through a company (with no money...all on paper only)that bought them from a different company (with no money...all on paper only)...that got them from another company (with no money...all on paper only)...he is directly associated with each and every company at the "executive level"...makes a person wonder why solid verifiable info related to anything he does is next to impossible to find.
I will do some digging and see if I still have the records from the Arcland Energy scam (which is now inactive). Might have to sort through old posts to find some of it.
Bottom line...history shows this guy is not honest, nor are his cohorts. People will lose money here...some will make bank...the P&D players...flippers and day traders...but if one plans to hold long term....could be MUCH longer than anticipated.
Here are links, and some general info. connect the dots with these companies. Look at the VALUE of these companies...how they are all inter related. I got caught in this scam 10 years ago, and was able to get out with a nice profit this round. A lot of people won't be so lucky when this implodes.
Also.go back and look at posts from 6 - 10 years ago...you will see exactly the same crap...when oil was over $100 bbl...they still did NOTHING.
https://www.corporationwiki.com/Texas/Irving/rafael-a-pinedo/35651592.aspx
http://www.4-traders.com/business-leaders/Rafael-Pinedo-06HZ2G-E/biography/
https://www.bloomberg.com/profiles/people/16665691-rafael-a-pinedo
Crescent Hill Capital Corporation
Crescent Hill Capital Corporation filed as a Domestic For-Profit Corporation in the State of Texas on Thursday, July 1, 2004 and is approximately thirteen years old, according to public records filed with Texas Secretary of State.
Rafael A. Pinedo
Chairman
President
Director
Known Addresses for Crescent Hill Capital Corporation
7229 N Miami Ave Miami, FL 33150
4020 N Macarthur Blvd Irving, TX 75038
4400 Westgrove Dr Addison, TX 75001
4553 Jimmy Doolitle Dr Addison, TX 75001
1549 NE 123rd St North Miami, FL 33161
crescent hill capital corp
100 CRESCENT CT,
DALLAS TX 75201
Business Phone: 214-208-0590
http://crescenthillcapital.com/
http://www.google.com/finance?cid=14237705
********************************************
Gold and Gemstone Mining Inc.
Gold and Gemstone Mining Inc. filed as a Domestic for Profit Corporation in the State of Florida on Friday, March 18, 2016 and is approximately one year old, according to public records filed with Florida Department of State.
Rafael A. Pinedo
President
CEO
Treasurer
Secretary
Director
Known Addresses for Gold and Gemstone Mining Inc.
4020 N Macarthur Blvd Irving, TX 75038
204 W Spear St Carson City, NV 89703 - personal residence
2144 E Whitekirk Way Draper, UT 84020
http://www.google.com/finance?q=Gold+and+Gemstone+Mining+Inc.&ei=Y_k-WdjQIYGajAH8pIKYCg
************************************************
Chancery Resources, Inc
Chancery Resources, Inc filed as a Domestic for Profit Corporation in the State of Florida on Wednesday, March 16, 2016 and is approximately one year old, as recorded in documents filed with Florida Department of State.
Rafael A. Pinedo
President
Known Addresses for Chancery Resources, Inc
7229 N Miami Ave Miami, FL 33150
http://www.google.com/finance?q=Chancery+Resources%2C+Inc&ei=m_o-WbjbE4byjAG0laD4Bw
*************************
Art Capital, LLC
Art Capital, LLC filed as a Domestic Limited Liability Company (LLC) in the State of Texas on Thursday, September 17, 2015 and is approximately two years old, according to public records filed with Texas Secretary of State.
Rafael A. Pinedo
Director
General Manager
Known Addresses for Art Capital, LLC
4020 N Macarthur Blvd Irving, TX 75038
Doesen't appear to be traded
*********************************************
Pilgrim Petroleum Corp.
Pilgrim Petroleum Corporation Overview
Pilgrim Petroleum Corporation filed as a Foreign For-Profit Corporation in the State of Texas on Friday, November 9, 2007 and is approximately ten years old, according to public records filed with Texas Secretary of State. A corporate filing is called a foreign filing when an existing corporate entity files in a state other than the state they originally filed in. This does not necessarily mean that they are from outside the United States
Pilgrim Petroleum Corp.
4400 Westgrove Drive
Suite 106
Addison, Texas 75001
http://www.google.com/finance?q=OTCMKTS%3APGPM&ei=5vw-WaGPL87AmgH0l7S4Bg
*******************************
Neugenics, Inc. Overview
Neugenics, Inc. filed as a Domestic Corporation in the State of Nevada and is no longer active. This corporate entity was filed approximately twenty years ago on Wednesday, February 19, 1997 as recorded in documents filed with Nevada Secretary of State. There are a couple of officers known to have been associated with this organization.
Rafael A. Pinedo
President
Treasurer
Known Addresses for Neugenics, Inc.
PO Box 669 Palm Beach, FL 33480
7612 Tallow Dr Irving, TX 75063 - personal residence
8619 Oak Valley Ct Irving, TX 75063
INACTIVE
**********************************
American Bnp Resources LLC Overview
American Bnp Resources LLC filed as a Domestic Limited Liability Company (LLC) in the State of Texas and is no longer active. This corporate entity was filed approximately thirteen years ago on Thursday, July 1, 2004 , according to public records filed with Texas Secretary of State.
Rafael A. Pinedo
Manager
Known Addresses for American Bnp Resources LLC
4020 N Macarthur Blvd Irving, TX 75038
3050 Regent Blvd Irving, TX 75063
4553 Jimmy Doolittle Dr Addison, TX 75001
4400 Westgrove Dr Addison, TX 75001
INACTIVE
******************************************
Consumer Tax Resolution, L.L.C. Overview
Consumer Tax Resolution, L.L.C. filed as a Domestic Limited Liability Company (LLC) in the State of Texas and is no longer active. This corporate entity was filed approximately fifteen years ago on Monday, December 2, 2002 , according to public records filed with Texas Secretary of State.
Rafael A. Pinedo
Manager
INACTIVE
******************************************
American Petroleum Exploration Company, LLC Overview
American Petroleum Exploration Company, LLC filed as a Domestic Limited Liability Company (LLC) in the State of Texas and is no longer active. This corporate entity was filed approximately fourteen years ago on Friday, October 3, 2003 , according to public records filed with Texas Secretary of State. There are a couple of officers known to have been associated with this organization.
Rafael A. Pinedo
Manager
1 Known Address
4400 Westgrove Dr Addison, TX 75001
INACTIVE
******************************************
The Highlands Education Foundation Overview
The Highlands Education Foundation filed as a Domestic Nonprofit Corporation in the State of Texas and is no longer active. This corporate entity was filed approximately ten years ago on Monday, September 10, 2007 , according to public records filed with Texas Secretary of State. There are a couple of officers known to have been associated with this organization.
Rafael A. Pinedo
Director
Known Addresses for The Highlands Education Foundation
17101 Preston Rd Dallas, TX 75248
1451 E Northgate Dr Irving, TX 75062
INACTIVE
******************************************
American Petroleum Corporation Overview
American Petroleum Corporation filed as a Domestic For-Profit Corporation in the State of Texas and is no longer active. This corporate entity was filed approximately fourteen years ago on Wednesday, December 31, 2003 as recorded in documents filed with Texas Secretary of State
Rafael A. Pinedo
Director
Known Addresses for American Petroleum Corporation
3050 Regent Blvd Irving, TX 75063
INACTIVE
******************************************
American Capital Investment, LLC Overview
American Capital Investment, LLC filed as a Domestic Limited Liability Company (LLC) in the State of Texas on Tuesday, July 15, 2003 and is approximately fourteen years old, according to public records filed with Texas Secretary of State.
Ratael Pinedo
Director
Known Addresses for American Capital Investment, LLC
4020 N Macarthur Blvd Irving, TX 75038
3050 Regent Blvd Irving, TX 75063
Corporate Notes
[Texas Secretary of State] 7/24/2009 Tax Forfeiture
[Texas Secretary of State] 6/27/2012 Reinstatement
American Capital Investments LLC
Investor Relations
300 South Duncan Ave.
Suite 295
Clearwater, FL 33755
619-864-0166
American Capital Investment LLC has agreed to sell 100% of its equity
interest in its oil and gas subsidiary Alpha Petroleum Resources LP (Texas Corporation)
to Crescent Hill Capital Corp a Dallas Texas private equity firm providing a credit
facility at closing of $615 million US Dollars
******************************************
Nathan Resources, Inc. Overview
Nathan Resources, Inc. filed as a Domestic For-Profit Corporation in the State of Texas and is no longer active. This corporate entity was filed approximately nine years ago on Tuesday, July 15, 2008 as recorded in documents filed with Texas Secretary of State.
Rafael A. Pinedo
Director
Known Addresses for Nathan Resources, Inc.
17101 Preston Rd Dallas, TX 75248
INACTIVE
******************************************
Arcland Energy Corporation Overview
Arcland Energy Corporation filed as a Foreign For-Profit Corporation in the State of Texas and is no longer active. This corporate entity was filed approximately nine years ago on Friday, July 18, 2008 , according to public records filed with Texas Secretary of State. It is important to note that this is a foreign filing. A foreign filing is when an existing corporate entity files in a state other than the one they originally filed in. This does not necessarily mean that they are from outside the United States. There are a couple of officers known to have been associated with this organization.
Rafael A. Pinedo 13
Director
Secretary
Known Addresses for Arcland Energy Corporation
17101 Preston Rd Dallas, TX 75248
INACTIVE
******************************************
Alpha Petroleum Resources, Lp
Alpha Petroleum Resources, Lp Overview
Alpha Petroleum Resources, Lp filed as a Domestic Limited Partnership (LP) in the State of Texas on Tuesday, July 13, 2004 and is approximately thirteen years old, according to public records filed with Texas Secretary of State.
Known Addresses for Alpha Petroleum Resources, Lp
4020 N Macarthur Blvd Irving, TX 75038
3050 Regent Blvd Irving, TX 75063
Alpha Petroleum Resources, Lp lists two other companies as an officer in their company.
American Bnp Resources LLC Active General Partner
Crescent Hill Capital Corporation Active General Partner
[Texas Secretary of State] 8/28/2009 Tax Forfeiture
[Texas Secretary of State] 6/30/2011 Reinstatement
[Texas Secretary of State] 8/30/2011 Certificate of Amendment
[Texas Secretary of State] 12/6/2011 Report Notice
[Texas Secretary of State] 1/12/2012 Notice of Forfeited Rights for Non-Filing of Periodic Report
[Texas Secretary of State] 5/18/2012 Certificate of Involuntary Termination
[Texas Secretary of State] 5/3/2016 Certificate of Amendment
CPA firm NOT PGPM HQ.
Bulloch, DuPertuis, Seger & Company, PC
17101 Preston Rd.
Suite 210
Dallas, TX, 75248
United States
BSW & Associates
5057 Keller Springs Road
Suite 300
Addison, TX 75001
BSW & Associates is a unique financial advisory
and business office consulting firm offering your
business all of its financial statement preparation,
general ledger maintenance, QuickBooks expertise,
and tax preparation services for small-to-medium-sized businesses.
http://www.bswcpas.com/index.html
I have verified many times.
Unfortunately the pic you posted is of the offices of
BSW & Associates
5057 Keller Springs Road
Suite 300
Addison, TX 75001
BSW & Associates is a unique financial advisory
and business office consulting firm offering your
business all of its financial statement preparation,
general ledger maintenance, QuickBooks expertise,
and tax preparation services for small-to-medium-sized businesses.
http://www.bswcpas.com/index.html
PGPM "HQ" is
Pilgrim Petroleum Corp.
4400 Westgrove Drive
Suite 106
Addison, Texas 75001
yeah he does...he's been scamming people for well over 10 yeas now.
Look at any of his companies...they are all under the outhouse. This is nothing more than a recycle of the scam he ran 10 yrs ago.
lol...great addition.
I don't for a second believe he is our "friend". He is a seasoned politician and knows how the game is played. I see his statements/actions geared more towards the CYA motive more than anything. He is stuck between two administrations, and he is going to do what he "legally" can to push the spotlight away from himself. IF he halts the NWS, he will do so based on hes responsibility per the requirements of the conservatorship.
I believe a twofold move on his part. He sees the conflict between the current administration and the past administration, and he is going to attempt to position himself in a place where he can say " I am doing what is required (legally) of me as conservator to best serve the needs of the GSE's and the taxpayer. (and the wishes of the CURRENT administration)" He will effectively show he is/was in a no win situation based on two different administration's motives. His loyalty lies in his wallet.
of course they did...they want to give all the GSE assets to the TBTF banks. I do see a positive in the first paragraph though.
"Federal Housing Finance Agency (FHFA) Director Mel Watt recently delivered two direct messages to Congress: First, it is dangerous to operate the two institutions that undergird half of the U.S. mortgage market and support over $5 trillion in mortgage backed securities with little to no capital. Second, as the safety and soundness regulator, he intends to take steps to reverse that situation. "
hopefully Watt will force something positive to happen.
As capital dwindles, trouble looms for Fannie Mae and Freddie Mac
By Glen Corso, Scott Olson and Hilary Shelton, opinion contributors - 06/07/17 06:40 PM EDT
http://thehill.com/blogs/pundits-blog/economy-budget/336829-as-capital-dwindles-trouble-looms-for-fannie-and-freddie
As capital dwindles, trouble looms for Fannie Mae and Freddie Mac
Federal Housing Finance Agency (FHFA) Director Mel Watt recently delivered two direct messages to Congress: First, it is dangerous to operate the two institutions that undergird half of the U.S. mortgage market and support over $5 trillion in mortgage backed securities with little to no capital. Second, as the safety and soundness regulator, he intends to take steps to reverse that situation.
Hopefully, these steps will be taken in concert with the U.S. Treasury, however, the director was clear he would take action, if necessary, on a solo basis.
The big lesson that came out of the 2008 financial crisis is that there is no substitute for equity capital. Capital, in sufficient amounts, spelled the difference between survival and failure for banks and other financial institutions. Those with a strong financial cushion survived, and those without one did not.
The Main Street Coalition — an informal group of small mortgage lenders and affordable housing groups — believes this issue is of vital importance. The one thing we learned in the financial crisis is that consumer access to mortgage credit is harmed — as is the broader economy — when sources of mortgage credit are compromised via undercapitalization.
The critical importance of this fact appears not to have been considered when it came to fashioning the Preferred Stock Purchase Agreements (PSPAs) between the U.S. Treasury and Fannie Mae and Freddie Mac, commonly referred to as government-sponsored enterprises (GSEs).
You may recall that these two federally-chartered mortgage giants were placed in conservatorship in September of 2008 as the mortgage crisis was reaching its peak because their capital situation was imperiled. As part of the conservatorship, the U.S. Treasury entered into PSPAs with each entity, promising to extend $200 billion in lines of credit to each company in return for senior preferred stock and warrants equivalent to nearly 80 percent of the common equity of each company. Lines of credit are not capital.
Subsequent to being placed into conservatorship, the Obama Treasury Department presented a plan to the Office of Management and Budget (OMB) that would have required the GSEs to have a $10 billion capital buffer until 2020. However, under the terms of the August 2012 amendment to the Preferred Stock Purchase Agreement, capital for the GSEs was frowned upon.
Rather than acknowledging the importance of capital to ensure safety and soundness, the PSPAs, as amended, required the GSEs to shed their existing capital by $600 million per year, until they reach zero on January 1, 2018. So today, the plan to strip their capital has continued — even though Fannie and Freddie have repaid not just the $185 billion advanced in 2008 — but an additional $75 billion in profits to taxpayers.
In 2016, Fannie Mae and Freddie Mac purchased $941 billion of single-family mortgages out of a total loan market of $2 trillion. The mortgage-backed securities issued by the two entities accounted for 65 percent of all mortgage securities backed by single-family loans in 2016. Additionally, the two GSEs are vital sources of financing both to low- and moderate-income home buyers, and they provide affordable financing to rental units that serve those same income groups.
Yet these two entities, which together form a vital part of the foundation of the home loan market in the U.S., will be running on zero capital by the first of next year. This dangerous reality is the result of a decision by senior officials in the prior administration.
Understandably, the agency that acts as both prudential regulator and conservator for the GSEs is quite concerned about the prospect of having these two giant organizations running on zero capital in less than 12 months.
Both organizations have generated significant earnings over the past several years, all of which have been paid to the U.S. Treasury pursuant to the terms of the PSPAs. But as Director Watt pointed out, a loss in a single calendar quarter could be realized through non-credit factors, such as a paper loss on a hedging position, which would be reversed the next quarter.
However, the PSPAs as currently structured, would require the GSE suffering the quarterly loss to take a draw from the Treasury in order to avoid a negative capital position. In turn, there could be unforeseen consequences from such a draw, which FHFA as conservator is focused on avoiding since the consequences for the U.S. mortgage market could be so severe.
Director Watt and FHFA are correct to be concerned about the potential consequences for running these two companies on zero capital, and they are right that these two companies are so vital to the U.S. mortgage market that they would be remiss in gambling on the prospect that future draws under the PSPAs would not cause any disruption of the market.
Their concern is absolutely appropriate for a conservator charged with safeguarding the assets of the two companies and guiding them back to financial health, as well as for a soundness regulator charged with protecting American taxpayers.
There are interest groups in Washington that shrug off the potential consequences of market disruption. They are willing to risk the unknown, unforeseen consequences of a Treasury draw and possible disruption of a $5 Trillion global MBS market and subsequent disruption of the U.S. housing market.
Their perspective is contradicted by the views stated by Director Watt, going back more than a year ago. The mortgage market and the ability of American consumers to finance the purchase of a home for their families is too important to be left to chance.
Director Watt and the FHFA have our full support to take the steps necessary to allow the GSEs to build a capital buffer, to protect taxpayers and avoid gambling with the health of the mortgage market.
Scott Olson is the executive director of the Community Home Lenders Association,whose mission is to promote federal housing policies that increase affordable mortgage loan options for homeowners and borrowers. Glen Corso is the executive director of the Community Mortgage Lenders of America, which was founded out of concern that emerging federal policies threaten to severely diminish community based lending, while increasing concentration among the nation's largest financial institutions. Hilary Shelton is the director of the NAACP Washington Bureau and senior vice president for policy and advocacy.
He should have at least 5 job opportunities once he gets out
1. Walmart greeter.
2 Lowes/Home depot - instructor on the proper use of knee pads.
3. Apparel industry - how to quickly open long johns back flaps.
4 Medical technician - how to breath through your nose with your mouth full.
5. gym/exercise facility - how to quickly grab your ankles while keeping legs straight, and keep your balance.
After 9 years of sweeping Fannie and Freddie under the rug, risks begin to emerge
By Mark Zandi, opinion contributor - 05/27/17 12:40 PM EDT
http://thehill.com/blogs/pundits-blog/economy-budget/335329-after-9-years-of-sweeping-fannie-and-freddie-under-the-rug
When mortgage giants Fannie Mae and Freddie Mac were put into conservatorship, few thought the two agencies would still be wards of the federal government nearly nine years later. But they are, and taxpayers are still on the hook for any losses they may suffer. This is becoming a more meaningful threat; under the terms of their agreement with Treasury, the agencies will have no capital to absorb any losses by the end of the year.
Mel Watt, the director the Federal Housing Finance Agency, the agencies’ regulator, is rightly worried about this possibility. He recently testified before the Senate Banking Committee that he may curtail the dividend that the agencies pay the Treasury each quarter with their profits — the current arrangement the FHFA has with the Treasury — so that they can instead rebuild their capital.
The FHFA director argues that this action is necessary to ensure that investors in the mortgage-backed securities backed by the agencies don’t worry about their investments if the agencies were to suffer a loss. That’s because without capital of their own, a loss would require the agencies to fill the financial hole with the limited capital available to them from the Treasury.
As the agencies draw funds against that increasingly binding limit, investors will eventually grow concerned that their investment in the agencies’ securities may not be safe from credit-driven losses.
Investors currently believe that investing in a Fannie and Freddie mortgage security is almost as safe as buying a U.S. Treasury bond. This is because they believe that the government is sheltering them from any credit risk — the risk the mortgages backing the agencies’ securities default. If they ever come to doubt this, however, they will demand more compensation for the perceived credit risk they are taking, or simply refuse to invest at any price, which means higher mortgage rates and fewer mortgage loans.
While Director Watt is right to recognize a problem, allowing the agencies to withhold their profits from taxpayers to build capital isn’t the right solution. This runs the risk of putting us on a path back to the future. By allowing the agencies to recapitalize, he is allowing them to begin the process of re-privatization, which cannot take place until and unless they rebuild capital. While Director Watt has made it clear that he would not go any further down the road of administrative re-privatization, to take even this step is concerning.
link to Bethany McLean talk
Unfortunately it isn't the "ALPHA PETROLEUM" based in Guildford England...it's the "ALPHA PETROLEUM" that is just another scam shell that Pinedo has.
Alpha Petroleum Resources LP
100 Crescent Dr STE. 1000
Dallas Texas 75201
which happens to be the same address as Cresent Hill Capital...which Pinedo also owns.
Mnuchin expects Fannie and Freddie to keep sending profits to the U.S. Treasury
Published: May 18, 2017 11:55 a.m. ET
http://www.marketwatch.com/story/mnuchin-expects-fannie-and-freddie-to-keep-sending-profits-to-the-us-treasury-2017-05-18?siteid=yhoof2&yptr=yahoo
Shareholders of Fannie and Freddie will have to wait a little while longer
Freddie Mac headquarters
By
Andrea
Riquier
In 2008, as the financial crisis swirled, the federal government rushed Fannie Mae and Freddie Mac into conservatorship. The two giant mortgage-finance companies became wards of the state under a new regulator that would manage their affairs until they were healthy enough to stand on their own.
Nearly nine years later, they’re still under government control. And while in some ways their crisis has receded, in other—and what some would call self-inflicted—ways, Fannie FNMA, -1.70% and Freddie FMCC, -0.40% still teeter on the edge of needing another taxpayer bailout.
As congressional testimony of recent weeks has revealed, that precarious position is starting to make policymakers nervous.
Treasury Secretary Steven Mnuchin on Thursday told the Senate Banking Committee that he expected Fannie and Freddie would continue to pay dividends to the Treasury Department, despite earlier comments from the enterprises’ regulator that he might suspend the dividend to allow the companies to retain enough money to operate safely.
Read:Fannie and Freddie are nearly out of money and Washington is getting anxious
The regulator, Mel Watt, director of the Federal Housing Finance Agency, testified before the same committee early in May that reform is “urgently” needed. “These conservatorships are not sustainable and they need to end as soon as Congress can chart the way forward on housing finance reform,” he said.
The question of the dividend has to do with a 2012 amendment, which directed the companies to send their quarterly profits to the U.S. Treasury and progressively reduce capital buffers down to zero by 2018.
Read: Keeping mortgage giants Fannie and Freddie under government control is increasingly risky, regulator says
Fannie and Freddie’s zero-capital target was a self-created ultimatum. In a way, it was meant to replicate Congress’s own self-imposed sequester, in which lawmakers set a hard cap on government spending while moving toward a more comprehensive budget agreement.
With no capital, there’s little margin for error. One bad earnings period—whether due to credit losses or accounting vagaries—could send Fannie or Freddie back to the government for another bailout. That’s the last thing anyone in Congress wanted just a few short years after the crisis.
Read: Fannie Mae reports $2.8 billion quarterly profit as capital buffers dry up
Instead, it was believed, that risk would force Congress to take action to enact a comprehensive overhaul of the housing finance system that could keep the mortgage enterprises from trying to survive quarter to quarter.
Some congressional attempts have been made, and those ideas may just need more time. Efforts largely centered on a more market-oriented structure that would combine private capital while retaining some level of federal government backstopping. Analysts considered bipartisan Senate efforts developed over the past few years to be important starting points.
And still, 2018 is drawing near.
In his testimony, Watt repeatedly drew a distinction between his stewardship of the enterprises and broader housing finance reform, which he said was Congress’ responsibility.
If Fannie or Freddie needed to draw funds, Watt argued, it would undermine private investors’ confidence in the broader housing finance system. He likened his situation to knowingly driving passengers in a car with a faulty airbag: there’s a low risk that something bad will happen, but if it does, the impact could be catastrophic.
Also read: Housing finance overhaul may be finally in the cards, Mnuchin says
And, Watt told the committee, he has the right to suspend a quarterly dividend payment if he believes that payout would jeopardize the safety and smooth functioning of the enterprises. And, it’s just this kind of decision-making that lack of broader reform forces upon the regulator, he said.
Some lawmakers bristled at that.
Sen. Bob Corker, a Tennessee Republican who helped draft one of the earlier stalled reform efforts, told Watt that the federal money available to the enterprises in case of emergency is no different than a firm tapping a line of credit to smooth out fluctuations in cash flow.
“Go ahead and draw on it,” Corker said.
Mike Crapo, the Republican who chairs the committee and who also participated in earlier reform efforts, tried to smooth the differences between Watt and Corker.
If Watt made a change to the 2012 amendment by preemptively deciding to withhold a dividend, Crapo argued, it might roil markets just as badly as an unplanned draw would.
But Watt pointed out that it’s his agency that would bear the brunt of any negative fallout from an unscheduled draw. “If the two parties can’t dance then I may have to dance by myself,” he said. “It may not be pretty, but I have the ultimate risk here.”
On Thursday, Mnuchin said in his prepared remarks that “housing finance reform is a priority of mine,” but when pressed by Corker and Crapo, told the committee that he didn’t expect to tackle it until the second half of the year, after tax reform had been settled.
Shares of both Fannie and Freddie were up about 2% in Thursday trading.
Holders of the companies’ stock were wiped out when the government began to sweep the quarterly profits, but the stocks have rallied on hopes that the Trump administration will be more friendly to investors, and that the approaching zero-capital milestone may just be the hard deadline that forces some action from Congress or FHFA.
GOP chairman warns agencies about requests for records
Here is the entire article
https://www.yahoo.com/news/gop-chairman-warns-agencies-requests-records-064831360--politics.html
WASHINGTON (AP) — A House Republican chairman has told a dozen government agencies to exclude communications with his committee from requests made by news organizations, advocacy groups and others through the Freedom of Information Act.
In a series of letters, Rep. Jeb Hensarling of Texas said communications the agencies had with members of his panel and committee staff should not be released, arguing that it often includes sensitive and confidential information.
"All such documents and communications constitute congressional records not 'agency records' for purposes of the Freedom of Information Act, and remain subject to congressional control even when in the physical possession of the" agency, Hensarling wrote in one April 3 letter to Treasury Secretary Steve Mnuchin.
Records and material from the executive branch are subject to requests under the 1967 Freedom of Information Act. Congress, which wrote the law, has exempted itself.
Hensarling's letter to the Treasury Department was first reported by BuzzFeed. The Associated Press obtained additional letters that the Republican lawmaker sent to other agencies within the jurisdiction of his Financial Services Committee. Among the agencies were the Consumer Financial Protection Bureau, the Federal Emergency Management Agency and the Federal Deposit Insurance Corporation.
The committee's top Democrat, Rep. Maxine Waters of California, said Hensarling for years has made what she described as "intrusive and aggressive demands of agencies," citing his request of more than 150,000 pages of documents from the Consumer Financial Protection Agency.
"Anytime he's called on it, he says that Congress has the right to conduct oversight. And while Congress does have that right, it is the height of hypocrisy for him to take such extraordinary measures to shield himself from the oversight of the American public," Waters said. "People should ask themselves: What is he trying to hide?"
The advocacy group Public Citizen said Hensarling's letter violates the spirit of the open records law though the legal ramifications are murkier.
"What's clear is that it's an outrageous move," said Robert Weissman, president of Public Citizen.
The Financial Services Committee has jurisdiction over issues relating to banking, insurance, federal monetary policy, housing and international finance. On Thursday, it passed legislation rolling back much of the Dodd-Frank laws created under President Barack Obama in response to the 2008 financial crisis.
Weissman said that the committee's taking on such legislation is one reason to be hypersensitive to secrecy.
"We know these are not technocratic policy matters removed from broad public interest or the influence of the most powerful industry sector in America," Weissman said.
Jeff Emerson, a spokesman for the committee, said the letter was simply a reminder of legal obligations. He said a federal appellate court recognized in 2004 that records created by the Treasury Department at the request of Congress are not considered agency records if Congress intended to retain them. He said the court has long recognized that Congress' constitutional oversight role may be threatened if agencies don't maintain the confidentiality of congressional records.
"This newfound liberal outrage is just performance art," Emerson said in a statement, adding that Waters had known about the letters for more than a month and failed to object publicly.
I agree 100%...the SEC DOES go after and prosecute these pink and grey sheet sub penny guys on rare occasions. It seems more often than not, it is only a scare tactic to try to get them to NOT be so blatant in their scams.
Mac, I can't do PM's..."pinhead" is a reference a lot of us old time bag holders that have been here for the last decade use to refer to Rafael Pinedo...the CEO of Pilgrim Petroleum.
Problem is...there are no REAL assets. Pinhead has been playing this game for years...Do a little DD on Rafael Pinedo...you will see he is nothing more than a sub-penny scammer. Some of us unfortunate bag holders fell for his crap 10 years ago....great PR's...hundreds of millions in assets...the only thing that happened...WE (retail investors) got stung. The company went dark....now...it's time to wash, rinse, and repeat.
a bit of DD
http://www.bloomberg.com/research/stocks/private/person.asp?personId=21959163&privcapId=33301942
https://www.corporationwiki.com/Texas/Irving/rafael-a-pinedo/35651592.aspx
DD some of the companies listed
why didn't this company go ballistic back when oil was hitting $100 BBL plus...he had the "assets" back then as well...simple answer...it was and always will be a scam.
My suggestion is do a LOT of DD before dropping a penny in this.
GOP to advance bill aimed at unraveling Dodd-Frank next week
http://money.cnn.com/2017/04/24/news/economy/gop-dodd-frank-repeal-bill/index.html
A top House GOP lawmaker is pressing ahead with his plans to roll back the 2010 Dodd-Frank financial regulatory reform, scheduling a markup of his bill next week, two people familiar with the matter told CNNMoney Monday.
Earlier this month, Sarah Rozier, a spokeswoman for House Financial Services Chairman Jeb Hensarling said the Texas Republican lawmaker had set a deadline of unveiling an updated version of his bill, dubbed the Financial Choice Act, "in the next few weeks."
The committee is holding a hearing on the bill this Wednesday. Rozier declined to provide further comment on the committee's plans.
The latest version of Hensarling's bill would give the president authority to fire the heads of the Consumer Financial Protection Bureau, a consumer watchdog agency, and the Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae and Freddie Mac, at any time and for any -- or no -- reason.
Hensarling's bill would also give Congress purview over the CFPB's budget, meaning lawmakers could defund the agency entirely.
The GOP proposal would also bar the Federal Deposit Insurance Corp. from overseeing the so-called living will process, which requires banks to write up plans on how they would safely be unwound in the event of a collapse. The FDIC and the Fed are the two regulators responsible for overseeing this requirement under the 2010 law.
The GOP plan would make it easier for Wall Street to overturn regulations. And it would force policymakers to study the benefits of regulations, including Dodd-Frank, versus their costs.
Hensarling's bill would allow banks to run their own stress tests instead of putting the responsibility in the hands of regulators, a requirement that was instituted under Dodd-Frank. It would also revise how often banks would have to undergo a separate stress test by regulators from once every year to two.
Trump has remained steadfast in maintaining his pledge to do a "major elimination of the horrendous" Dodd-Frank reform law. The White House could reshape bank rules through legislation or by appointing top officials who are likely to slash the regulations.
On Friday, the president directed Treasury Secretary Steven Mnuchin to review regulators' authority to unwind a bank on the brink of failure and to label nonbank firms -- insurance companies, private equity firms and hedge-funds -- as risky institutions.
Mnuchin and his Treasury staff are already fulfilling a prior request by the president to review regulations and find ways to reduce the burdens on businesses. That review is due in June. His staff has also been working on finalizing a tax policy plan that Mnuchin said would be completed "very soon."
A top priority for the Trump administration has been to drive economic growth through tax reform and loosening regulations.
Last week, Mnuchin endorsed Hensarling's latest plan to replace and repeal the 2010 reform law. "We are supportive of him bringing forth this legislation and looking forward to working with him," said the former Goldman Sachs banker.
Even with an updated version of the House bill, the Senate will want to put its own footprint on any potential changes to the 2010 regulatory reform law.
Mike Crapo, the ranking member of the Senate Banking Committee committee, has already set the tone of seeking to find areas of common ground with Democrats.
so the argument for shareholder rights is, does State ( Delaware ) laws take precedent over the ( conservatorship )FED?
Question for the Legal minds out there...
Could SOME { State ) laws take precedent, while others do not?
haven't been by there in years...but I will be passing through that part of town this weekend, and I will make it a point to drive by and see if there is any life/activity
I am all for this company doing well...thats why we "invest" our money. I am not going to say don't invest here...I am saying do a ton of DD on these guys BEFORE you invest...read through old post going back over the last 10 years...look at the history of what Rafael Pinedo has accomplished...you will most certainly see a pattern of scam after scam after scam.
I live in the Dallas area...I have been to the "company offices"...one of my old posts I show some pics of it...don't remember which post. It's located at Addison Airport. When I stopped by there, ( on several different occasions) the place was empty...broken windows...not a single person around...place was not in use.
Pinedo never returned phone calls...or emails...was never available for any information.
Of course there is an opportunity to make money if you hit the momo at the right time...but most likely that profit will be at the expense of other shareholders and NOT based on company value increasing due to good old fashioned HONESTY, EFFORT, and HARD WORK on their part.
This is one of my old posts from years back. I believe oil was between $85 bbl and just over $ 100 bbl during this time frame. As you can see, the pps did move around a bit...but was far far below where it should have been if the company was viable.
************************************
Dallas66 Friday, 06/11/10 04:32:14 PM
Re: iambrok post# 15243
Post # of 19727
Here are the stats for this year, to date. I wonder where all these shares
are coming from. Of course there are some flippers, peeps that just wanted out and dumped...but my guess is the company has been raising a bit of cash to pay expenses...at our expense.
Date Open
High Low Close
/Last Volume
Today 0.0005 0.0005 0.0004 0.0005 3,516,964*
6/10/2010 0.0005 0.0007 0.0004 0.0004 2,081,428
6/9/2010 0.0004 0.0006 0.0004 0.0006 204,100
6/8/2010 0.0004 0.0006 0.0004 0.0005 1,562,238
6/7/2010 0.0007 - - 0.0007 0
6/4/2010 0.0007 - - 0.0007 0
6/3/2010 0.0004 0.0007 0.0004 0.0007 224,500
6/2/2010 0.0004 0.0004 0.0004 0.0004 2,571,748
6/1/2010 0.0007 0.0007 0.0007 0.0007 40,000
5/28/2010 0.0006 0.0006 0.0006 0.0006 1,404,400
5/27/2010 0.0004 0.0004 0.0004 0.0004 3,499,999
5/26/2010 0.0004 0.0004 0.0004 0.0004 345,625
5/25/2010 0.0003 0.0003 0.0003 0.0003 1,500,000
5/24/2010 0.0005 0.0006 0.0005 0.0006 450,000
5/21/2010 0.0003 0.0005 0.0003 0.0005 121,000
5/20/2010 0.0004 0.0004 0.0004 0.0004 462,500
5/19/2010 0.0006 - - 0.0006 0
5/18/2010 0.0006 0.0006 0.0006 0.0006 400,000
5/17/2010 0.0006 0.0006 0.0006 0.0006 200,000
5/14/2010 0.0006 0.0006 0.0004 0.0004 2,739,999
5/13/2010 0.0006 0.0006 0.0005 0.0005 177,000
5/12/2010 0.0006 0.0006 0.0005 0.0005 1,342,500
5/11/2010 0.0004 0.0004 0.0004 0.0004 630,000
5/10/2010 0.0005 0.0005 0.0004 0.0005 4,632,226
5/7/2010 0.0007 0.0008 0.0004 0.0004 19,799,856
5/6/2010 0.0005 0.0007 0.0005 0.0005 1,195,499
5/5/2010 0.0007 0.0007 0.0006 0.0007 2,591,400
5/4/2010 0.0005 0.0006 0.0005 0.0006 155,000
5/3/2010 0.0008 0.0008 0.0005 0.0008 965,000
4/30/2010 0.0005 0.0008 0.0004 0.0008 8,305,999
4/29/2010 0.0006 0.0007 0.0006 0.0007 2,744,999
4/28/2010 0.0007 0.0007 0.0005 0.0006 5,982,367
4/27/2010 0.0008 0.0008 0.0007 0.0007 8,321,833
4/26/2010 0.0008 0.0008 0.0006 0.0008 949,398
4/23/2010 0.0007 0.0009 0.0005 0.0009 1,797,924
4/22/2010 0.0009 0.0009 0.0009 0.0009 666,500
4/21/2010 0.0005 0.0009 0.0005 0.0009 1,116,250
4/20/2010 0.0006 0.0008 0.0004 0.0008 3,852,333
4/19/2010 0.0006 0.0007 0.0006 0.0007 5,175,160
4/16/2010 0.0006 0.0008 0.0006 0.0008 13,499,167
4/15/2010 0.0009 0.0009 0.0008 0.0008 1,300,000
4/14/2010 0.0009 0.0009 0.0006 0.0009 11,965,204
4/13/2010 0.0005 0.0009 0.0005 0.0009 21,351,200
4/12/2010 0.0006 0.0006 0.0005 0.0006 4,727,800
4/9/2010 0.0008 0.0008 0.0007 0.0007 4,622,800
4/8/2010 0.0009 0.0009 0.0006 0.0009 2,452,424
4/7/2010 0.0007 0.0009 0.0006 0.0009 3,349,100
4/6/2010 0.0009 0.0009 0.0009 0.0009 161,200
4/5/2010 0.0009 0.0009 0.0006 0.0009 2,537,500
4/1/2010 0.0006 0.0009 0.0006 0.0006 4,934,150
3/31/2010 0.0009 0.0009 0.0006 0.0009 4,984,080
3/30/2010 0.0009 0.0009 0.0006 0.0009 11,740,907
3/29/2010 0.0009 0.001 0.0006 0.0009 7,590,887
3/26/2010 0.0008 - - 0.0008 0
3/25/2010 0.0006 0.0008 0.0006 0.0008 9,963,666
3/24/2010 0.0007 0.0012 0.0006 0.0009 9,738,000
3/23/2010 0.001 0.001 0.0007 0.001 1,707,750
3/22/2010 0.0007 0.001 0.0006 0.0008 22,662,548
3/19/2010 0.0011 0.0012 0.0008 0.0008 42,731,120
3/18/2010 0.0007 0.0014 0.0007 0.0012 181,394,544
3/17/2010 0.0006 0.0006 0.0005 0.0006 75,625,184
3/16/2010 0.0004 0.0007 0.0004 0.0005 78,443,528
3/15/2010 0.0003 0.0004 0.0003 0.0003 4,435,000
3/12/2010 0.0003 0.0004 0.0003 0.0003 4,146,500
3/11/2010 0.0003 0.0003 0.0002 0.0003 5,439,563
3/10/2010 0.0004 0.0004 0.0003 0.0004 11,329,876
3/9/2010 0.0002 0.0003 0.0002 0.0003 5,326,872
3/8/2010 0.0004 0.0004 0.0002 0.0003 1,715,000
3/5/2010 0.0003 0.0003 0.0003 0.0003 1,278,500
3/4/2010 0.0003 0.0003 0.0002 0.0002 1,882,000
3/3/2010 0.0003 0.0003 0.0002 0.0002 5,899,999
3/2/2010 0.0003 0.0003 0.0002 0.0003 2,999,999
3/1/2010 0.0001 0.0003 0.0001 0.0003 29,644,300
2/26/2010 0.0002 0.0002 0.0002 0.0002 453,750
2/25/2010 0.0002 0.0002 0.0002 0.0002 5,015,000
2/24/2010 0.0002 0.0002 0.0002 0.0002 1,050,000
2/23/2010 0.0002 0.0002 0.0002 0.0002 5,068,750
2/22/2010 0.0004 - - 0.0004 0
2/19/2010 0.0004 0.0004 0.0004 0.0004 50,000
2/18/2010 0.0002 0.0002 0.0002 0.0002 1,000,000
2/17/2010 0.0002 0.0004 0.0002 0.0004 402,730
2/16/2010 0.0003 0.0004 0.0003 0.0004 2,173,246
2/12/2010 0.0004 0.0004 0.0002 0.0003 2,860,150
2/11/2010 0.0004 - - 0.0004 0
2/10/2010 0.0004 - - 0.0004 0
2/9/2010 0.0004 0.0004 0.0002 0.0004 1,200,000
2/8/2010 0.0003 - - 0.0003 0
2/5/2010 0.0003 0.0003 0.0003 0.0003 250,000
2/4/2010 0.0004 0.0004 0.0004 0.0004 500,000
2/3/2010 0.0004 0.0004 0.0004 0.0004 20,000
2/2/2010 0.0002 - - 0.0002 0
2/1/2010 0.0004 0.0004 0.0002 0.0002 2,999,000
1/29/2010 0.0002 0.0002 0.0002 0.0002 937
1/28/2010 0.0004 0.0004 0.0004 0.0004 450,000
1/27/2010 0.0004 - - 0.0004 0
1/26/2010 0.0004 - - 0.0004 0
1/25/2010 0.0003 0.0004 0.0003 0.0004 2,655,000
1/22/2010 0.0004 0.0004 0.0002 0.0002 100,000
1/21/2010 0.0001 0.0004 0.0001 0.0004 100,750
1/20/2010 0.0003 0.0003 0.0002 0.0002 3,647,096
1/19/2010 0.0002 0.0003 0.0002 0.0003 1,524,375
1/15/2010 0.0003 - - 0.0003 0
1/14/2010 0.0002 0.0003 0.0002 0.0003 82,000
1/13/2010 0.0003 - - 0.0003 0
1/12/2010 0.0003 0.0003 0.0003 0.0003 180,000
1/11/2010 0.0004 - - 0.0004 0
1/8/2010 0.0004 - - 0.0004 0
1/7/2010 0.0004 0.0004 0.0004 0.0004 81,000
1/6/2010 0.0004 0.0004 0.0004 0.0004 2,632,000
1/5/2010 0.0002 0.0002 0.0002 0.0002 2,500
1/4/2010 0.0005 0.0005 0.0005 0.0005 100,000
Total 714,387,433
I agree with you 100%...in theory you are correct. Problem is...some of us have been here ( stuck in PGPM )for many years and have gone through this before...back when oil jumped up well over $100 bbl...same thing happened...WONDERFUL news came out from the company...going to make millions upon millions of dollars with all the O&G leases they acquired....and it was nothing more than lie after lie after lie to suck people in.
I'm quite certain there are some other companies out there that will do well and actually follow through and turn a profit...I don't believe this one will. I hope they do, I really really hope they do.....but history ( Pinedo track record )tells me this is nothing more than a new run to line pinheads pockets...nothing more.
of course they are...my question is who would be buying this based on the history of this company. I suppose there is a possibility that leadership is going to change hands and they are moving shares around to facilitate that, but again...the history of this company dictates it is most likely nothing more than a money grab for Pinedo....at the expense of shareholders.
it came from right here...IHUB