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Remember when certain TIV/CEO lovers and die hard supporters condemned everyone, especially industry savvy types, who questioned the CEO's veracity of his outlandish and untruthful (ya think??) claims about "billions and billions" and "Rivers of Oil" (along with tons of other crazy stuff he spouted publicly to raise millions and strip investors of their life savings? Well, I think the SEC should go after them too because they helped propagate the self serving/self enriching scam, IF ANY, which fleeced investors of over $100 million.
Is the fact that the Chapter 7 Trustee hired a forensic accounting firm to analyse TIV's accounting and Insider transactions meaningful? I sure think it is because I have long questioned the possibly incestuous(?), if any, relationship (good old buddies from Bakersfield?) between Blystone, his CFO's and their long time accounting firm that audited their books and signed off on stuff for decades while Blystone controlled TIV with an "iron fist". I forget the name of that firm...I seem to recall some accountant named Bob, Brad or Burt Armstrong who was a very very dear/close personal and family friend of Blystone and I believe his accounting firm audited all the TIV's books for decades, right? Did that accounting firm and/or CFO's put in "going concerns" early on when possibly they should have to warn shareholders of existing or pending financial problems? All we ever read was grand, glorious and embellished newsletters from Blystone. Did they make darn sure all TIV "income" was allocated correctly, like show that income was really from Working Interest partners earmarked for specific drilling or acquisition purposes and not TIV's corporate funds for them to use for overhead, or 100% owned TIV properties? That could possibly make things "look" different than they actually were so shareholders didn't get "spooked" and sell shares, no??
I'm sure all those folks were on the up and up and there wasn't any shenanigans but since there is now a forensic accounting firm reviewing everything TIV did in past (or hopefully they are), I would love for them to make darn sure there weren't any shenanigans and/or hanky panky going on between close friends (between Officer/Directors/accounting firms, etc?) and everything was done according to the law and SEC regulations. And if not, I would like anyone involved, if any, to be prosecuted to the full extent of the federal, state and local laws, since so many shareholders and investors (and vendors?) collectively lost over $100 million of this debacle.
Just my personal opinions with no facts or true names asserted or inserted. It may all be fictitious.
It is kind of funny to see that all those die hard TIV supporters/lovers on this board and the other one have gone absolutely quiet and disappeared with their tails firmly planted between their quivering legs. They were all so proud, pompous and so sure how great TIV really was in spite of savvy oil men doubters (like yours truly), even during BK (at least while it was still in Chapter 11), and now they are humiliated and quiet for being so very wrong and they paid dearly (and so will their heirs) for that ignorant mistake.
I think an apology is in order from many of them, but that takes a real man to do and we all know how most of these folks are.
Its nice to know all those (and there were many) Blystone (along with his felon accomplice) bluff callers/naysayers/doubters/BS callers/haters were spot on about those self serving dead beats. And all those who praised/loved/followed/supported/defended/bowed to/gave life savings to and drank their purple koolaide...paid dearly for their ignorant mistake. The funny thing is, I imagine both are still at it with a new company and a new fresh batch of ignorant and naive money-handing-over saps. Should of listened to the smart/honest industry savvy folks...
Still "no way to tell" what would be the final results for TVLYQ? LOL
I bet VI is making bongo bucks off of TIV these days with their "big" swings in share price..Heck, $10 every few days (IF you play the swings right...LOL) could add up to a $100/month. LOL
Hey Howard, ya got legal representation against the TIV clan for ripping you off yet? You, like a majority of shareholders, if not all, are just going to roll over and say .."but they tried to make us millionaires as they said they would"? LOL
I believe they've either done it or are in process of doing it. But then, as everything TIV and their past CEO/his accomplice money raiser did, it seemed like one more deceptive move to pretend they were doing one thing for the benefit of the shareholders but in reality could care less about the common shareholder. Like filing Chapter 11 to "make it look like" (so TIV..) they would reorganize debt, etc and one day emerge with some stock value intact but in reality were feverishly selling off all their assets for pennies on dollar (of course, that is all they were really worth..) and then convert to Chapter 7, have the stock be worthless and skate on a legacy of wrongdoings, if any. Thats what I think...
Does Docket 657 mean the shareholders (i.e. "Unsecured Creditors") now have legal representation?
Still in the Chapter 11 process? LOL
Converting from Chapter 11 to Chapter 7 is a big...oh duh! Any thoughts Howard or the True Value guy?
Pretty funny reading some recent BK Dockets (624, 625, etc) whereby various Opus members who lost MANY $10's of millions (naive and ignorant?) are re-filing claims that were previously rejected by the BK judge. This time they are showing the Opus Newsletter whereby Cunningham stated alleged misconduct for improper accounting stuff by TIV (really? LOL) and particularly by Blystone (No, really? LOL) for Insider trading (and attached the SEC Insider Trading settlement notice)and his main Principal finder/money raiser/accomplice Beerooze Sassafrass who was convicted of a felony (No, really? LOL) in 2000 for making false statements to the SEC in their prior investigation of him. That clown was convicted of a felony and Blystone kept it secret for a decade(No, really? LOL) from Beerooze's and Blystone's "dearest friends" (as long as they had millions to throw at Blystone pet projects) Opus members and other investors/shareholders while he fleeced them for >$100 million, right? Two peas in a pot! And didn't Blystone think he was John Wayne with a full sized poster of him in his office and portray himself as a "good Christian" guy? I think I even heard he was an Elder at his church. Now there's a hypocrite Christian!
I imagine many of the "true TIV longs" (i.e. naive and ignorant believers) are dieing left and right because most were in such terrible health to begin with with obesity and other associated medical ailments and then you add in the fact TIV turned out to be the opposite of what they thought and hyped, and bingo, droppin like flies.
That's a shame they were so clueless, ignorant, obsessive, loyal and mean spirited to everyone who questioned their beloved TIV...and in turn their idols and mentors pissed in their faces and stripped them of their wealth. Kind of a cool turn of events, no?
Its nice to see that all the TIV hypsters and pumpers have slinked off with their tail between their legs after having their beloved TIV totally make fools and liars out of them.
LOL... TIV no longer has an office, just a PO box...LOL
Too funny! They sold ALL their furniture and had to vacate office. They are officially just a PO box! LOL
Wow, it was up 175% to .003..for about 5 minutes..LOL
Hey VI, do you think Tri-Valley Corp. is going to "reorganize" and stay a pubically trading stock under the same symbol after they sell every asset (actually that's past tense..like already sold everything, right?)? Will the CEO (will that be Cunningham? Gamble?), with no assets or money in bank, still be doing dog and pony shows and say some good sounding and money luring cool stuff like, "we got the dog and ITH has the tail", or maybe "we got big plans to build shareholder value"? Hey, I bet if the team of Beerooze and Blystone were still involved it could really bring in huge money after they crafted a few well worded PR's, no? LOL
Yea, its still in Chapter 11, even after they liquidated ALL their assets..sounds like Chapter 7 huh...looks what's comin...LOL
Oh I know it is..LOL...at a price of a 10th of ONE cent..LOL. But how long after it converts to Chapter 7 do you think it will remain a "pubicly traded stock"? A month? "2 weeks"? 3 days? LOL
And for some, there is no difference between a publicly trading company, a non-existent company and a private company...LOL
LOL Keep up the good work! LOL Hey, one day it may go up to .002..if it doesn't convert to Chapter 7 first..LOL
.0009 is the "joke low"? LOL. Will it still be a joke low if TIV converts to Chapter 7, since 1) they sold all their assets, or 2) they won't be able to resolve their legal differences between TIV, Gamble and Opus during this BK "Standstill" period?
Was that a dollar trade? Wow! Person must have free trading fees. I bet its those darn pesky manipulating shorts again, who the former CEO was fixated on, still trying to drag TIV down even though TIV has "billions and billions". Oh that's right, last year TIV closed the sale of its "billions and billions" by cheaply unloading Edison, all their minerals, if any, and PV, so they don't have any shareholder value "assets" left, right? Unless of course you think Cunningham is "shareholder value", then they have one left. LOL
LOL Too funny. Now is that "support" you show going to hold up when TIV sells its final asset and closes up shop...soon, very soon? LOL
"What you are talking about? TVLYQ never dropped to .0001!"
Oh reeeeelllly...
"then got to $17.50 by 2005"..Yea, after some heavy pumping on message boards by the felon and Blystone's proclamation, "$45 in '05". In my opinion, those high share prices were a consequence of purposely misleading and embellishing PR's, along with his accomplice's message board pumping about Echo and other supposed "Shareholder Bonanzas", to artificially elevate the share price so certain people could "indemnify" their TIV investments.
Just many naive, industry ignorant, Blystone and Sassyfrass trusting, poor souls...And A LOT of them! Blystone and his accomplice Sassyfrass were good, really good! LOL It appears to me Blystone and Sasyfrass were so good they were able to connive or finagle Baker Taniguchi into "believing" their embellished and misleading hype so much that he in turn convinced all his Japanese relatives in Hawaii to pour millions into "no-Lose" Blystone/Sassyfrass deals and they lost EVERYTHING...but WTFDIK! LOL I wonder how good old Baker is liked on the island? LOL Looks like a couple other guys named Chalmers and Groblebe also sucked in a lot of their relatives. Groblebe wants many $100's of millions. Too funny! LOL.
All these "investors" are just going to pay $100's of K's to attorney's to dance around and charge them $500/hour, until TIV officially goes tits up.
I find it hilarious that both Blystone and Sarafrass are represented by the same law firm. Two pees in a pot! I also find it hilarious that the accounting company (Armstrong?) that signed off on Blystone's financial "doings" (like allowing Sarafleas to take a million out of the Opus fund and not pay it back), is claiming money.
Man, those Kaui Hinode funds (1-30? aka "the Hawaiians") sure have a lot of claims for many millions. Looks like the head guy, Baker Tanuchi(?), ate up Blystone's embellished and misleading rhetoric for many many years, along with many other extremely naive and ignorant investors. Its fun to scroll down the version in alphabetical order (they have both numeric and alphabetical order versions) so you can read the names of all the folks who got sucked in by Blystone and his accomplice Sassafrass, the amounts they are claiming and where they live. Even has Sarrassfrass' address on Tiburon.
I sure didn't see a class headed by Howard. He must have got cold feet.
Want a chuckle...check out Docket 493 and open Claims Register and read the names...and the MILLIONS some of them want!
1.75 BILLION of secured and unsecured claims! Whadda frickin laugher!
Hey Howard, how ya doin with that class action shareholder lawsuit? Got a firm and class yet? I'm sure you would want to also name the auditors and the BOD's, etc, individually and personally, right? A lot went on with their full blessings, consents and encouragements, or so it appears. I bet between all them, the shareholders should be able to get back a big chunk of money lost, if of course the firm could prove fiduciary duties or SEC laws were grossly ignored and breached, right?
Just my humble opinion based on reading the BK dockets whereby they have liquidated, or in process of liquidating, ALL their assets, including vehicles, equipment, etc. You're probably right though...the "winding down of affairs" (closing up shop) along with various lawsuits/depositions/SEC investigation/etc will likely take more than a month. When all assets are sold, lawsuits concluded, the SEC investigation concluded, money distributed to secured and unsecured creditors, etc, I sure can't imagine the stock would be worth more than zero. You?
The reason why shareholders are dumping their Tri-Valley shares in great quantities is because in a very short time there will be no more Tri-Valley company as they have liquidated all their assets and are wrapping up their affairs (that means closing up shop). You are calling someone stupid for getting $300 today for their shares when in a month they'll get zero?
You ought to read the BK dockets to get a feel for how long the company will be around.
Do the math....that's a $500 Bid! LOL
Docket 473 states that upon closing the sale of PV, TIV will have sold substantially all its assets and are in the process of winding down their affairs.
Its amazing that there are still die hard TIV Blystone believers (I believe they are called "true longs", right?) who somehow think (of course most of them aren't the sharpest tools in the shed..) that after TIV winds down its affairs by selling all its oil, gas and gold assets, including its trucks, office equipment, etc, and letting all its 26 employees go, their TIV stock will be worth something.
Its also amazing TIV filed Chapter 11, which is most commonly used to reorganize, but actually liquidated all its assets and wound up its "affairs" (oh, they were affairs alright..LOL), more like a Chapter 7 filing. Could that be the last great TIV head fake?
And of course the crookedist fish in the group, who actually amassed millions from "his people" (under the table mordida???;), is that pompous dead beat accomplice, the rogue country (an illegal alien too?) unlicensed felon money raiser.
I would really like to see the SEC nail that crook to the wall and strip him of his millions, his lavish life style and his multimillion dollar mansion on the "island". Of course some, IF NOT ALL, of his money was derived from illegal secretive fleecing (or skimming off top?), of "his people"(with the aid of the CEO?, who the investors thought was an honest Christian guy?). Next time the SEC calls, IF ANY, I will fill them full of all kinds of juicy stuff about his nefarious ways, IF ANY!
Hey, just my thoughts and opinions with no facts asserted!
I thought for sure I would see Cunningham's and Blystone's names in this article..
http://finance.yahoo.com/news/worst-ceo-2012-greenberg-makes-150151946.html
The common shareholders never really did have any standing with TIV's Officers/Directors. They always talked a good story in PR's and newsletters about "shareholder value" and wanting the shareholders to make money on TIV stock but we all knew (well, not all folks did) it was just BS rhetoric by a self serving carnie barker. It was the Insiders and their "dearest friends"/accomplices with Insider info (to trade accordingly?) that was always their primary focus. Why? Oh duh, a lot of "early" folks (includes Opus members?) made huge bucks on using Insider info to trade on to indemnify their TIV project investments, in my opinion. I wouldn't be surprised if most, if not all, the early investors (Sassafrass' "dearest friends"?) were able to pay back all their project investment outlay thru stock trading so it was a free ride, but once again, that is just my opinion with no facts asserted.
Looks like TIV aint gettin much for their 25% of PV ($4 mil?), surely not the "crown jewel" as hyped by the former CEO.
Well, as they say...thats IT!! NO MO TIV!
Docket 416 is great reading...it seems like it may relate to why PV didn't get sold to that one Qualified Bidder, who I believe is a Beverly Hill diversified investment company who intends to start up an oil company after it buys PV tar properties in Ventura County (tough environmental standards county in CA). It seems the landowner has a lot objections with their properties being assigned to an investment company outfit with lack of prior oil/gas experience (really?) and absorbing all of the monetary/environmental/etc issues attached to the properties, if any (really?). It appears from what I read that millions are owed the landowner along with dealing with cleaning up contamination.
Anyway, everyone should read the dockets themselves because my interpretation, opinions, comments and/or understanding of whats going on in BK may not be accurate or true and and there may be no facts asserted. I am glad all this stuff is made public on that epiq11 website as otherwise we would have no clue what was going on and how all those BK gyrations/motions/filings affect our investment in TIV.
Howard, do you think any of these attorneys working on the TIV BK case at the tune of $100's of K's per month (millions?) are representing any common shareholders' interests?
http://dm.epiq11.com/TVA/Docket#Debtors=4773&RelatedDocketId=&ds=true&maxPerPage=25&page=1
See Dockets 394 and 395 for list.
Got a shareholder class action attorney yet Howard? Times running out. Gotta get em while they are still around and have assets.
Geo