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Thats a short order, about 5 questions squeezes into 2 sentances
1. Why Native American Energy diluted my shares
2. reversed them (and)
3. gave themselves a bonus in a huge amount of shares
4. after landing the company on the Grey sheets.
And ...
5. why did they let my PPS drop so heavily
(when they could haved PR'd and explained away the very logical reason for ending up on the Grey sheets.)
"Stay on topic please and be very thorough."
well i see you didn"t ask the board moderator here, i think its safe to say no one who frequents this board
see's him as one of our peers, he really hasn't endured this with us.
So be it as it may we may not share the same views. Based on different perspectives.
Its not really much your asking for is it, i guess theres more than one answer that could be applied to those questions
and the easyest answer is the simplest And can be answer all 5 questions at once
It seamed like a good idea at the time !!!
could be used to answer all that, if you like easy answers
repeat outloud after reading each of the 5 questions again
"It seamed like a good idea at the time"
And go no further.
now i can't say with any certainty all my answers will not be unbiased based on perspective.
1. Why Native American Energy diluted my shares
Well, some dilution would have to be expected, time goes on money burns like fuel
the clock ticks, maybe the deaper question is Does it add up as equitable or Fair.
I think its safe to say the shareholders do not approve of the way things may have been valued
at different times and where we lost so much parity and capital in the structuring.
if we try to think of values in terms of "real value" "Speculative value"
"Potential Value" "Market cap based value" or even "fair market value"
So the issue's clouds some, from time to time and point of perspective.
at the prices we paid we felt we had some value based both on potential as well as based on real assets
Now were being told things like "our old stock became worthless" and other sudgestions
That we are "really quite lucky" as that may not be how any "shareholder feels" about
Question 2 is a easy one, given fitting the sharestructure of the old company and new company, to a degree it was needed.
However, question 2 is deaply intertwined with question 1
To make share structure of 2 billion A/S fit into company with 1 billion cap, the real issue seams to be
With the way "capital value" has shifted away from the retail investor
Yet has returned for the company, at least in respect to market cap and potential share values the biggest grievance seams to be in the "perception" of the ratios between what we may have expected and what we got, for us to get what we got for a split second the value of the company was decided to be .0001
by the number of shares ? which under the old share structure as you know was roughly 1.5 billion shares, including those shares that were collateralised @.0167 for 300 million shares 5 million dollars
Old news i know, but for that brief moment in time the company was valued at .0001 it had a market cap of one hundred and fifty thousand dollars,
thats one perspective, another perspective is
"we still had everything we had before, we didnt loose our leases
or licenses we had a drill sitting"
we had more, than when we were first halted, because the phantom drill arrived !!!
Had we been trading that would have been a green day no doubt.
Now, question 3. gave themselves a bonus in a huge amount of shares
Well tough one, there is the issue with value in the time space continue-um, Something seams to have been lost in the time space shift,
Now, if i may sudgest a bold idea, "Management felt they deserved to be right back to holding the same "Value" as they once did in there brokerage accts. (Thats what we all wanted i assume)
So they then issue themselves stock that at the current share price As a reward for returning
from the grey sheets to becomming eligable to trade, all cleaned up n good to go.
Now i am not against rewarding performance, but, there seams to be some disparity the reward has lessened the effects of the "share echange" for management by about 100 for 1
While we recieved 1 for 10,000 (which at the time of this writing i have not yet recieved my new stock, welcome to the club, welcome all.)
My shares (as were yours) were basically exchanged while the companys market cap was based on .0001 share price "While NON Tradeing" and were exchenged at the rate of 1 for 10,000
If that sounds Rough, its because it is
So the men from NYC once owned allmost a billion shares,
No one complained, at a penny "they were Oil men" any way you slice it, it was ok
Did the reward for getting onto the pink sheets Merit restoring them to 10 million shares at 1.85 market ask price ???
it certainly seams to restore them fully
Again, we could try to find value that seams so elusive it has escaped us, say it with Me !!!
US!!! value and capitol, has escaped US!
Those shares that were "collateralized" they were once valued at .0167 i bring this up for good reason
"That was a good thing, and those were good times"
Who would not be happy with that ??? One and 2/3rds cents, and we would have been happy
Although that does not account for possible succeses
So Lets say we slide the decimal point over 2 places to the right
On that share value from those old collateral NVMG shares
.0167 becomes 1.67 effectively a 1 for 100 shift
So right now, it appears that the value of those shares at that time was roughly accurate
With brokers trying to test the market in the range of a dollar ana half to buck eighty five lately
it would appear somewheres there must be another 1 for 100 in loss of percieved value,
Again searching for the capital lost
a 100 fold increase in the value of that "collateralised share" from another time brings us to roughly todays market price
Yet we who bought, and believed in the company, supported it and were
Unwaveringly loyal and have endured dare i say "as much as management"
We got tossed under the bus, right around the time "IMO" during the negotiations
for the new shell,
The company did the best they could ??? to get a shell ??? at a rate of echange of 10,000 for one, at a price based on .0001 loosely on the values you see on the grey sheets,
"while a good clean shell is worth near a quarter million dollars"
How does it seam that the value the company brought to the table to negotiate
to merge into a shell that that shell worth say? 250k $
Suddenly that shell has a market cap value of 20-30 million dollars ? but the actual assets of the company are all NAEG
Somewhere something was lost in that cloud of value in relation to time
if the aquisition of the shell can change the value of the company
from 150 thousand dollars at .0001 based on old share structure and grey sheet prices,
To 20 to 30 million dollars based on market cap with unconfirmed outstanding share data
The issue again seams to add up unfairly towards the retail shareholder
Now if you will allow me to quote Raj Nanvaan
And You cant imagine how obscure some of these press releases have become
to find the when and where things were said is becomming lost in time and space, But
NVMG currently trades in the Pink Sheets, where fair value is not necessarily given to companies that are showing our kind of potential and progress. Our longer-term plans may include a move to the OTCBB or to a larger trading Board such as the Small Cap NASDAQ Board or the American Stock Exchange as the Company increases its revenue and asset values. We have time to decide whether such a move will prove to be beneficial for the company.
Presumably the spirit of that statment could be to imply that
On the Pinksheets, a companys "Value" may not be recogniced by the market or market prices.
Simple enough concept, isnt it ??? are stocks correctly prices ? does the market
Reflect the price, or value of a company "Fairly"
And thats the central issue here isnt it, when did we get robbed of our value.
Raj Understood that the market price may not reflect the value of something
And he went in to negotiate, to aquire a shell, worth maybe 250k and into it he rolled in all the assets at the lowest values place on them
And the deal he struck, becomes questionable to say the least
if we think of the current bid ask
@ 1.60 x 1.85
and think back to collateralised shares
.0167
and then look at what we were given
.0001 value that you could call the grey sheets value
where no bid or ask are displayed.
We could assume there were some unmatched bids, and asks in dis-array on the Grey's
that rarely if ever match to a possible trade.
Seldom if ever does anyone make a match,
It was in this Pit of Inequity where the deal for the share exchange was conjured
Where values may not be reflected in the pinksheets
They are never ever "fairly" represented on the grey sheets.
To put it as plainly as possible it would appear, "management" negotiated a deal
giving the most unfair valuation possible for our stock and now they are trying to have its value based on
Something more substantial, the problem is, is we had it before, and never lost it.
With slight of hand and Pen
Management did not deal the shareholders a fair deal
when they failed to stand up for US and get a more appropriate value for US, they failed US, and served themselves, and they came through unscathed,
"they Hoped for more but....."
does that really cut it when your handing out your own rewards?
Somewheres there is a Man, who owns a lot of this stock Now
He got it for his shell company, it was idle, and this deal served him well.
It put shares ($) in his acct. in exchange for something layying around collecting dust.
A corporate entity if you will. That does have value but
Was valued higher than a potentially functioning oil company
so it would seam. at least it was when the deal was being negotiated and struck.
5. why did they let my PPS drop so heavily
(after landing the company on the Grey sheets)
well to be honest i think theres really nothing you can do, as far as the price, while
on the grey sheets, there was nothing to do, aside from possibly taking the company private, that costing money, the logical choice was to do nothing where nothing could be done.
You have no control in the grey market even if you wanted it.
As far as your referrance
(when they could haved PR'd and explained away the very logical reason for ending up on the Grey sheets.)
They did that, and they did it reasonably well
So again, were back to 3 men in a room somewhere, negotiating
And thats where they failed US
They failed to obtain us a "fair" "Valuation" for our holdings
where fair value is not necessarily given
Those words came from Raj nanvaans Mouth by way Of Press release
where fair value is not necessarily given to companies that are showing our kind of potential
Monday March 19, 2007 9:55 am ET
NAEG: CEO Update to Shareholders
It opened with,....
"Dear Friends and Fellow Shareholders"
Based on the following info
As of March 19, 2007 shares Authorized is 2,000,000,000
Collateral share issuances in conjunction with the recent $5M financing agreement resulted in the change to the O/S
and the number of shares Outstanding is 1,538,289,853.
Now 300 million shaeres were safely collateralized presumably leaving
1,238,289,853 of which some 895 million were owned by managment
Now if we try the math on that, it looks like "management" Held some 72.25% of the stock
That wont suprise anyone, its old news,
But through the cloudy slight of hand tricks of valuation
What was left in the public market,
that 27.75 % of the company Owned by the public Was Shrunk "like a lil shrunken monkey head"
the publically held share of stock, those some roughly 343,289,853 shares became 34,329 On which most of US shareholders
have a "significant cost averages on"
of coarse we seam to be lacking in an exact number of outstanding shares under the new structure
It could be presumed to be be at minimum some 11 million shares
i thought someone had posted getting a report from the T/A of some 18 million shares in the O/S but cant locate the post at this time.
Suffice it to say i am curious about the 20 million shares used to pay for that "License valued at 2 million dollars"
the last time i raised a question on that note it was never properly addressed
Similar to other posts, that may show contradicting statements
or similar annomalies
They go unnadressed and brushed to the side disregarded as if fecal.
if it is found that there are only 11 million shares of which we now own 34,329 shares
then it could be said that we now Own slightly less than one third of a percent of the companys stock
a far cry from 27.75 %
if the float is 18 million shares or 38 million shares (no one has called the T/A recently enough i dare say)
with a float of 38 million possibly in the forseeable future
(based on assumptions of the 20 million shares mentioned in the recent financials for "Licensing" that has not fully been explained to US
and also the sudgestion on this board that the Outstanding May allready have been up to some 18 million shares)
The math works out progressively worse, as you may imagine.
My calculator actually died trying to find the percentage of shareholders stock of the potential 38 million share float
Can anyone tell me what percentage of the outstanding shares are now owned by the public shareholders ?
Am i correct in my assumptions here so far?
did an estimated 27.75 % of the shares belonging to the public shareholders just Possibly become ?
In the Range of 1/3 of a percent to Less than 1 Tenth of a percent of the outstanding share structure
As based on these assuptions
it may be a given that "some dilution was to be expected"
The Underlying central issue seams to be "Failure" of Management to obtain a "Fair" valuation for our stock, at the time they negotiated for FMGI
They Failed US
Under the guise of...
despite NAEG management’s efforts to negotiate a lesser exchange ratio. As per the Plan of Merger, it was a
simple exchange
FMGM principals finally
agreed to merge with NAEG but only offered 1 share of FMGM for every 10,000
shares of NVMG (.0001 new share for 1 old share)
And here in the heart of the Issue is the problem,
now i expect you Hoped for a simple answer, for all five points covered in that 2 line question
It seamed like a good idea at the time !!!
Is that working for you Yet ???
But it drastically Failed, to represent the shareholders in a "Fair Valuation"
when share values "should have be set in the range of .01 to .0167"
they were based on .0001 thus effecting us a less than fair outcome
There is no doubt in my mind that the 10 million NAGP managment gave themselves is central to the valuation.
For it most drastically Impacts our holdings
when related to how succesfully they negotiated on our behalf.
They Failed US, and its safe to say no one likes it,
Now i have taken the time to try to give an answer Based solely On My Perspective
Out of respect for such, "i will not stand for phrases or sentances to be taken out of context of the whole post and retorted back to me in an attempt to put words in my mouth outside the context of this post"
Just Don't do it !!!
"managment failed in their responsability to obtain US a fair exchange"
The questions of legality or ethics or right will not be answered here
We can only hope that someone can come to the realisation that it simply should not be allowed.
Be it FINRA or the SEC or the company itself,
Failure has never payyed so well.
been wondering for a while now what happened to MN1
You know the one where Raj said "we have the best investors"
After thanking all the companys advisors and supporters.
Then Joe said "Fasten Your Seatbelts"
I guess they liked there investors "Creamed on Toast. with a lil garlic and lemon"
Joe could have more clearly explained the why we should buckle up
who knew the train was comming off the trax.
http://www.dallasnews.com/sharedcontent/dws/bus/stories/111307dnbusinvestorweb.356ddbc.html
Market News First under shadow in penny stock analyses
MN1 founder barred from trades; conflicts alleged in analyses
11:45 AM CST on Tuesday, November 13, 2007
By BRENDAN M. CASE and MICHAEL GRABELL / The Dallas Morning News
While CNBC and Fox Business Network vie to cover big business, Dallas' Market News First is bringing broadcast coverage to the penny stock world, a bazaar of volatile and often risky shares.
The start-up streams live video from its Web site, www.MN1.com, marketing its news as help that will make viewers better informed and more profitable investors. It bills itself as "News You Can Trust."
But viewers beware.
MN1's 33-year-old founder and top executive, self-made millionaire Joshua Lankford, was recently barred from the securities industry. His companies have also been major shareholders in several of the stocks the site has spotlighted over the years. Some featured stocks have been tied to his friends and business partners.
In one instance, a stock rated a "strong buy" on MN1 was the focus of a lawsuit in which investors accused Mr. Lankford of manipulating the share price.
Mr. Lankford's attorney, Spencer Barasch, said MN1 strives to be as transparent as possible.
"MN1 goes to every effort to disclose any potential conflict of interest or any interest that any employee in MN1 might have in any company that's featured on MN1," he said.
For Mr. Lankford, MN1 is the latest in a career that includes a lucrative stint as a broker at Oak Lawn brokerage Barron Moore Inc., lawsuits alleging he orchestrated stock frauds – even an arrest for leading Dallas police on a chase in his orange Lamborghini.
Now he's competing with a growing number of news sites, chat rooms and online bulletin boards offering to help investors make sense of penny stocks. These tiny micro-cap stocks sell for as little as a few cents a share on loosely regulated exchanges such as the Over-the-Counter Bulletin Board and the Pink Sheets LLC.
"He wanted to cover this market in a very professional and upstanding manner," Mr. Barasch said. "It was a market that was not well-served in the financial news world, and it was under-covered. Some of the outfits that purported to cover it weren't necessarily on the up and up."
Because of their generally low prices and volatile trading, these stocks can quickly generate big profit multiples, and the Internet has made them increasingly accessible to ordinary investors. Still, they remain one of the murkiest corners of the investment world.
"If you think of the New York Stock Exchange as the Cadillac and the Nasdaq as the Lexus, then the Bulletin Board is the thrift shop and the Pink Sheets is the stuff that's left on the curb for the junkman to take," said James Angel, a finance professor at Georgetown University in Washington, D.C.
Mr. Lankford envisions MN1 as the anchor of Lankford Media Group, a company he started with $4.5 million of his own money, he told the Dallas Business Journal earlier this year.
Like TV
Viewing MN1's Web site is like watching TV. Using streaming video, the site offers news reports, interviews and talk shows. MN1 even scored four one-hour interviews with O.J. Simpson last summer, making national news.
That mix has already attracted potential suitors. The company has held preliminary talks with media companies and venture capital firms with a possible interest in buying MN1, Mr. Barasch said.
In addition to news stories and video streams, viewers can read financial analyst reports about penny stock companies that are similar to the lengthy reports Wall Street produces about big companies. Nearly all the reports, prepared by MN1 TV personality Michael Willingham (nicknamed "Mike the Analyst"), carry "buy" ratings, recommending that investors purchase the stock.
Mr. Willingham has picked some winners, including one stock that has quadrupled in price since his report on it. Most of his picks sell for less now than when he chose them. Still, some of those losers rose for a while after his reports, meaning investors could have profited by taking the advice, then selling at the right time.
Mr. Willingham is another veteran of Barron Moore, Mr. Lankford's former employer. But he was fired in 2006 because he "attempted to open a stock account at another broker dealer in order to trade penny stocks without prior written notification to Barron Moore," according to the Financial Industry Regulatory Authority, or FINRA.
Mr. Willingham declined to comment for this story.
Barron Moore's president and chief executive, Katherine Moore, also declined to comment.
Mr. Willingham's reports often come at a price for the company being analyzed. An April report on Miami-based American Ammunition Inc., for example, was actually a "paid advertisement" that cost $30,000, according to fine print at the bottom of the report.
The climb up
Mr. Lankford grew up on South Padre Island and left high school in the ninth grade (he later earned his GED).
He joined the Navy and served in Iraq after the first Gulf War but was discharged for chronic alcoholism in 1995, he said in a 2006 deposition. (He has also achieved a longstanding recovery and has been sober more than 10 years, he said.)
He then worked odd jobs – waiter, car dealer, catering truck driver, circulation contractor for The Dallas Morning News.
For a time, he ran a company that sold neckties in downtown office buildings. In the late 1990s, he worked in sales for a local Web site development firm.
But he seemed to hit his stride when he earned his broker's license in 2003. In one year at Barron Moore, he earned $400,000 and eventually owned nearly 25 percent of the brokerage's parent company, executives said.
Living large
Mr. Lankford's standard of living improved. In 2005 and 2006, he bought two $1 million houses in Preston Hollow and sold his $220,000 northwest Dallas house to an investment firm controlled by his half-brother.
Other acquisitions included a Big Dog motorcycle and the Lamborghini.
In 2005, police tried to pull Mr. Lankford over after clocking the Lamborghini going 80 mph in a 35-mph zone. According to the police report, Mr. Lankford led officers on a car chase in the Knox-Henderson area, got out at a bar, threw his keys to a valet and fled on foot. When caught, he told police he was laughing throughout the chase, the report said.
The felony charge was erased from his record this summer after Mr. Lankford completed probation. His lawyer, Mr. Barasch, declined to comment on the incident. Mr. Barasch described Mr. Lankford as a dedicated family man with three young children.
Also in 2005, Mr. Lankford was questioned by the U.S. Securities and Exchange Commission. It's unclear about what.
But the SEC has requested numerous records from Barron Moore in connection with the possible manipulation of dozens of stocks by a Dallas-based network of lawyers, brokers, investors and consultants referred to by the SEC as the "shell creation group."
Mr. Lankford and Barron Moore have denied any wrongdoing. The SEC has not brought any action against either him or the firm.
On Oct. 24, however, Mr. Lankford was barred from the brokerage business by FINRA, the industry's main private-sector regulator. Authorities expelled him because he failed to provide testimony and documents in an inquiry that began in 2005.
Mr. Lankford did not admit or deny wrongdoing. Regulators declined to say why they wanted to talk to him.
There have been other controversies.
Addison-based Consolidated Sports Media Group Inc., which made a Girls Gone Wild-style video shot at NASCAR races, filed suit against Mr. Lankford, accusing him of helping to prepare a junk fax in 2004 designed to pump up the company's stock price. Shareholders, including several companies controlled by Mr. Lankford's half-brother, stood to benefit, according to the suit.
Mr. Lankford denied the allegations in a deposition.
The lawsuit was settled after other defendants in the case agreed to pay Consolidated Sports $4.8 million.
Mr. Lankford also became embroiled in a legal dispute with a group of investors in MicroTrak Inc., a Dallas-based maker of GPS mapping devices for cars. The company saw its stock jump from 40 cents on Dec. 8, 2005, to $2.29 in early January 2006 before steadily falling.
The investor group alleged that Mr. Lankford, through an investment vehicle called Shocker 100 Index LP, had barred it from selling its stock so he and his friends could sell their own shares first, before the stock deflated.
In a later court filing, the group said Mr. Lankford told it he had caused the price spike. He promised to manipulate the price again and asked the group to drop its lawsuit, the group alleged.
Shocker 100 denied the claims in court filings, and Mr. Barasch echoed the denial. "I can't believe that Josh would have said that, and I can't believe that Josh would have done that," he said.
Shocker 100's lawyer, Jules Slim, also noted that one of the investors is a convicted felon once described as "one of central Florida's most notorious criminals" by the Orlando Sentinel. The legal dispute, which settled earlier this year, was not disclosed in MN1's May 2006 analyst report about MicroTrak, a company now called Tracking Corp.
The report gave the stock a "strong buy" rating, predicting the price would shortly zoom from its dip to 63 cents back up to $2.44.
The stock declined steadily in the ensuing months. It now trades at about 7 cents a share.
do you remeber
Joe and Raj's voices from the Live IPTV interview
On News first first?
I do, anybody else???
as you said
'Rhubarb' - Feel free to jump to conclusions, why don't you,? LOL
You crack me up.
to which i replyed
"I Did no such thing"
Then you said
'Rhubarb' - Can you document some facts as a foundation for any of your conclusions? Or is this to be considered hearsay and just in your opinion.
To which i must reply
"if i cracked you up we would both Know"
See,... you gotta wrap your mind around stuff better
Lets try to stay on topic here.
Top this
'Rhubarb' - I'll have to take some time to respond in the morning. I am busy having little seisures now from one of the new msdications, sorry.
"I Did no such thing"
Shows a Minimum 21 Million shares comming to dump
some of them (a lot really) were handed out for 10 cents each
Man can you imagine what thats gonna do to the bid here !!!
Whats the bid ask ?
and how come those 20 million shares dont show up in the reported share structure
Need to call the T/A or wait for the next filing i guess
Maybe if you buy a lil bit yourself each day u can "Hook a sucker".
'Rhubarb' - EXCELLENT Post!
Guess you didnt know what else to say when the truth is laid out for you
Its gonna be a bottomless pit with more dead investors at the bottom
Each shareholder of NVMG shall be entitled to receive shares of the Surviving Corporation, Native American Energy Group, Inc. (NAGP.PK) to which the shareholders are entitled under the Plan of Merger.
http://www.pr.com/press-release/200466
they didnt even have the balls to mention the scale of the exchange there
1 for 10,000 isnt worth telling anyone about.
NOTE: Current equity positions are expected to decrease in the year 2010 as part of
any funding arrangement consummated or conversion of debt to equity to lessen
Issuer’s debt burden. Therefore, all current shareholders including the control
shareholders will be subject to dilution as per such financial arrangements. In addition,
the three officers listed above have not received proper salaries from the Company
since its inception, and in lieu of this, the Board of Directors of the Company may elect
to issue them shares as partial compensation
Company issued 535,000 shares as per conversion of certain loans provided to the
Company. There was no official offering of securities. The conversion prices varied from
$.10 to $1.00 per share.
Now lets just stop the presses for a minute here and pay particular note
To paragraphs A and B (a is taken from the initial company disclosure filing, while b was taken from the 2009 soon to be audited financial report
How do you aquire something in 2007 and PR that fact, then 1 for 10,000 share exchange your shareholders, then pay for the license in 2009
a) February 14, 2007 – NAEG acquired Exclusive License for Proprietary Wind Turbine
Products. The rights encompass all Indian lands in the United States & Alaska as
well as the entire state of New York. License and distribution rights cover approx.
112+ million acres in the United States equal to approximately 5% of the total U.S.
land mass.
In 2009, the Company issued 20,000,000 shares of its common stock as per a technology license and distribution rights agreement for proprietary wind turbine energy products. The shares were issued in lieu of a $2,000,000 payment for such license and distribution rights. The rights encompass all Indian lands in the continental United States and Alaska as well as the entire state of New York. License and distribution rights cover a territory of approximately 112+ million acres in the United States, equal to approximately 5% of the total U.S. land mass.
If something smells fishy in Denmark
You Should Smell the TRIPE comming Outta New York City
Wall Street Baby
You didnt think these numbers were accurate did you
Outstanding Shares 37,962,790 as of Jun 30, 2009
Float 1,350,997 as of Jun 30, 2009
so your painting tape on both sides ot the deal ???
would not suprise anyone,
i mean the one called for as a result of the Halt
You don't even know this stock's history
Untel u became involved "recently"
Halted pending the filing of a sucessful 15c-211
they were never successful, were they
Oddly Joe and Raj now hold 2 x the dollar values in stock
as compared to the price "MONTHS" before the halt
and now your going to show the value of this compamy as being a good OP to Make money
When really your here to sell your FMGI....
895 million shares between them over 1 penny price Circa 9 million
5 million each at 1.85@ 18.5 Million dollars
And you think the market will forgive ???
enjoy your weekend
i expect to see a lot more press releases
that read just like 2007
get well soon
i mean it.
so what ??? on a good day a clean shell is worth 250 k Max
They cheaped out the first time,
Now they spent as much or more in the form of paper handed to FMGI's director
Resulting in you, coming here touting this like it was Sliced bread
And these men As shinning examples of hero's of Wall Street
Raj didn't have the best name 4 years ago.
He failed to redeem himself and "failed" may become a frequent word
associated with his name.
Thats not off topic DUDE
that is a fine example of the improved efforts of the SEC
and your trying to Sweep it under the rug
When you speak of control shares, ???
Is that the 250,000 to each officer of Preffered Class A shares with a 1 for 1000
conversion rate? A quarter of a Billion shares. when fully diluted
Or you mean the 5 million free tradies they gave themselves for
keeping there Job ???
My post is every bit as on topic as your MVIV post
so lets not try kidding each other
The deal was tripe, we wont eat it and you wont sell it
Another old indian said this
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38272769
You were given new opportunity where other companies such as MVIV failed
Have ya ever heard of This ????
Richard J. Lewis III, CEO and Chairman of TCI stated that, “While the SEC was recently successful in having the United States District Court for the Northern District of California order the Hamedanis’ disgorged of over 14 million shares of TCI stock, new TCI management felt that there were still a substantial number of shares of TCI stock wrongly held by nominees of the Hamedanis’. We filed this lawsuit because we expect to prevail, and in so doing, we expect to have over 2 million more shares of TCI stock held by Nominees of the Hamedanis’ disgorged or canceled, including 1.4 million shares which as a result of the TRO, on March 19, 2009, were interpleaded by the online brokerage firm ShareBuilder Securities Corporation to the United States District Court for the Western District of Washington at Seattle.”
Mr. Lewis added that, “I felt we owed it to our shareholders and to the company’s bottom-line to prevent the Defendants from profiting from the sale of these shares and to get these shares back to TCI’s treasury, as if never issued.”
Now You Just Want To "Help People Make Money Right" ???
And you think Nothing Has ever come from shareholders raising issues with the SEC
The man named above "Lewis" won a legal battle to take control of a Pub-Co away from the directors,
And place himself in as management !!!!
Now its not like you have not heard anyone on this board
Making Claims that they have contacted, Or been contacted, by the SEC
So should anything come to pass from the numerous complaints
How will you defend that ???
Ive never asked for any such thing
and to be honest, if i was offered something to shut up
I would not touch it unless everyone invested was also
so fairly treated, what you fail to grasp is simple so simple
the ashare exchange 1 for 10,000 that WE the Investors find so offensive
Was also not in line with what managment would find acceptable
Or they would not have given themselves 5 Million shares each
"back in the day" managmentr had some 895 million shares in a penny stock.
thats a simple fact try to swallow it
When the 1 for 10000 exchange happenedthey each received some 45,000 and change shares.
they had suffered the effects of there own share exchange
so distasteful to them they rewarded themselves with a bonus
for continueing on with their Jobs
EFFECTIVELY GIVING THEMSELVES A 110 FOR 1 FORWARD SPLIT
Now, i'm forced to ask myself, exactly when did my investment loose
some 95 - 98 Percent of its Value.
Try to stay focused, cause i got questions for You.
Did we investors loose our value ?
Immediatly upon being halted and cast down to the grey sheets ?
Through those times we heard "they" were working to resolve the issues
the website for the company is filled with new photo's
any image involving equipment Had date time stamps on them
with dates ranging from mid summer straight through to late Fall and early winter
Posing with the drill at this site or that site through the later part of 2008
HAD WE ALLREADY LOST ALL OUR VALUE THEN ???
Or, maybe, was it when Raj and Joe were negotiating for a new clean shell ???
When the guy from FMGM said Ohhhhh i need 10000 shares of your stock
to equal 1 single share of my dead stock, BECAUSE MY SHELL IS CLEAN
AND GOOD TO GO !!!
Was that it was that when my investment lost all its value ???
To speak as plain as u can understand
My stock had more value on the grey sheets than it does right now
And managments stock does not need to move from this level to reward themselves
Over the "OLD" share structure.
we were suposed to share in there gains
hence the term SHare holder
they dont share in our losses but continue on
calling this an achievment
And then We were robbed...
Pray for your stock too,
i would bet you it falls apart before
you can sell yours or theirs, but whatever ya can get for it
cause you probly didnt buy it,
Probly had it dumped on you as a pale substitute for cash
Or maybe you were the only guy with much FMGM...
would explain a lot,
we got 1 pumper who thinks people
can channge there spots like a leopard
while playing the same old games
it wasnt a reverse split
it was a exchange,
and this guy seams to have got some
that is indicative of one of the most shodilly run share exchanges since
Don Platon said
"Mail us 20 $ to cover the postage and handling on your dividend"
and now he is in Jail....
why would we care about any potential anything
management traded one worthless bunch of stock for another dead companys worthless stock
Now lets say you had 10,000 shares of flight management
and it was essentially a dead company, just legit and relatively clean
But doing no real buisness other than being a buisness entity
so the director there gave his shareholders a 10 for 1 reverse split
simple enough ??? THEN
Raj and Joe negotiate hard as they can, and call a exchange rate of 10,000 for 1 to be OK,
Its ok for them cause they can issue themselves whatever they want
Now back to the FHG shareholder who's 10 k shares became 1 k shares
which then ? correct me if im wrong here the guy who had 10,000 shares FMG reverse splited to 1000 shares FMG
RECIEVES 10 MILLION SHARES OF NAGP WHILE THE SHAREHOLDER OF NVMG
Who had 1 million shares, recieves 100 shares NAGP
so, this seams to work out for Raj and Joe
but to the other 500 shareholders of record, Its a Kick in the Crotch.
FMG brings us aproxamatlty 1000 new shareholders, who all got rewarded better than NVMG shareholders.
but really FMG's float was allmost completely controlled by its director.
and his company could very well be filled with dead shareholders
who may never collect on there share exchange
so in effect only 3 people really benifited from this share exchange.
as we sit back and ponder the ethical and legal ramifications
The share structure swells with each passing day
For the sake of arguement, How many shares did you recieve ???
for your flight management ???
or did they just owe you money and offer some Paper, and tell you how you would be able to reap large selling it into the press releases.
What we commonly call the The Pump and Dump
September 12, 2006 - 9:45 AM EDT
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Native American Energy Group, Inc. Announces 20 for 1 Forward Stock Split; Split Will Increase Market Liquidity and Shareholder Value
Native American Energy Group, Inc. Announces 20 for 1 Forward Stock Split; Split Will Increase Market Liquidity and Shareholder Value
FOREST HILLS, N.Y., September 12 /CNW/ - Native American Energy Group,
Inc. (OTC Pink Sheets: NVMG) announced today that its Board of Directors has
approved a 20 for 1 forward stock split of the Company's common shares. Each
shareholder of record at the close of business on September 7, 2006 will
receive nineteen (19) additional shares for every outstanding share held as of
the date thereof. The payment date for the additional shares will be September
18, 2006.
The forward stock split will be issued as free trading shares for
stockholders who hold free trading shares, and restricted for those
stockholders who hold restricted shares, as of the record date of September 7,
2006. All shareholders that have free trading shares in their brokerage
accounts will be credited automatically by the transfer agent and those
shareholders of restricted shares will have their stock sent to them directly
from the transfer agent. The Board of Directors believes that this action will
increase shareholder value and create more trading liquidity.
About Native American Energy Group, Inc.
Native American Energy Group (NAEG) is a publicly traded, independent,
energy company that has established its infrastructure and operations on the
Fort Peck Indian Reservation in N.E. Montana. NAEG is currently enhancing and
reactivating many of the abandoned and previously shut-in oil & gas wells on
the Fort Peck Nation from the Company's portfolio of historically producing
wells, in a process that can be duplicated across the state or the country.
The NAEG business model also encompasses future expansion into the exploration
and development of new properties which shall include new drilling programs
and additional oil & gas recovery programs in other areas, such as the very
prolific Bakken Formation on which NAEG has also acquired several leases. The
U.S Energy Department has called the Bakken Formation the highest-producing
onshore field found in the lower 48 states in the past 56 years.
The Company's strategy is, through acquisition and development, to bring
vast economic improvement to this region and to strengthen Native American
communities by helping to secure their energy future. Native American Energy
Group specializes in acquiring and revitalizing abandoned oil fields with
substantial known reserves in place, as well as, introducing energy
alternatives such as wind & geothermal energy solutions. We spotlight oil
fields which were previously developed and capped due to depressurization,
production falling below commercial levels at that time, or in situations in
which oil & gas leases were terminated by the tribal governments due to
improper development and/or refusal to simply employ Native Americans. Today,
we have the technology to take abandoned fields and restore production with
enhanced recovery technologies. NAEG aggressively pursues any oil property
that has been selected through our screening process.
Since January 2005, the company has amassed a handsome portfolio of
historically producing wells in the Williston Basin in N.E. Montana that NAEG
management strongly believes can be enhanced through it's proprietary,
Enhanced Oil Recovery (EOR) capabilities, and will thereby establish a 10 to
20 year cash flow for the company. Native American Energy Group trades on the
OTC Pink Sheets under the ticker symbol: NVMG.
Joseph D'Arrigo, President and CEO
For more information and to view all previous press releases, please
visit the Investor Relations page on the Company website:
http://www.nativeamericanenergy.com.
Safe Harbor Statement: This News Release may include forward-looking
statements within the meaning of section 27A of the United States Securities
Act of 1933, as amended, and section 21E of the United States Securities &
Exchange Act of 1934, as amended, with respect to corporate objectives,
projections, estimates, operations, acquisition and development of various
interests and certain other matters. These statements are made under the "Safe
Harbor" provisions of the United States Private Securities Litigation Reform
Act of 1995 and involve risks and uncertainties which could cause actual
results to differ materially from those in the forward-looking statements
contained herein.
Source: CNW (September 12, 2006 - 9:45 AM EDT)
Again you show invalid information with those stock prices
based on the dates you have provided
You are showing Pre 20 for 1 forward split prices
Please try to keep up with the history so as you dont mislead people
into thinking You Have a clue.
Obviously you dont even Know when you are providing erroneous information
company’s two key officers & directors were offered five (5) million shares of
common stock each plus 250,000 shares of Series A preferred stock. Shares issued
increased both the common stock and preferred stock by more than 10%.
Preferred Stock Conversion Rights:
Holders of Series A Preferred Stock have the right to convert each
share of Series A Convertible Preferred stock into 1000 shares of
restricted common stock.
and that would bring the Outstanding to Over half a billion shares
Plus any and all additional 504 stock being sold
should those shares be converted what could the NAGP shares be valued at then ?
They should print them on like a 4 inch wide paper tape to "add value"
delete every message after 27018
and no one will say a thing about it again
if they ask why all the posts were deleted yoiu could delete them too
But dont get too carried away
or just click (the red) manage button and hit resign as moderator
and take your bat and ball and go home
on the NAGP Board from Post # 27017
Wrong again there dude theres no 27017 on the nagp board
I think that message was a reply to you
Right here on this board NVMG
where it says
Moderator: shining_star Assistants: plugger
And Your Point >???
Nobody answering that line except
the same old voice mail for the last two or more years.
Just as we all would have expected.
Maybe he clicked by accident, Being New here
it could have been that simple, Now
its Just funny, eheheheh
"who made me moderator" ROFLMAO
"You Think,.... Maybe"
thats good solid DD
either you know or you dont !!!
but you are allowed to speculate, we all are
however none of that "fully restores anything for the rest of us"
who will choose the sidelines on this one.
IMHO
YOU Mean like the 300 million shares
that were collateralized for a 5 Million $ Loan
That does not clearly appear Any of the last 3 Years Financials
that are presumably Now being audited ???
how can we even Know if that loan really happened ???
I cannot find it in the finacial reports no matter how many times i got through them
Can YOU Point it out to me?
Did they Only recieve a portion of it ???
Are your contributing to the Due dilagence of this stock specific Board
or are you simply antagonizing everyone because ??????????
because Why ? Do You have NAGP shares you would like a market For??
I know you wont answer that question, so far you have not made good on any answers....
ANYONE on this board would gladly tell you how much stock they have
What price ranges they paid With real Money money they earned somewhere
And what there cost averages they may have
WOULD YOU DO THE SAME.
Also i think your earlyer judgement of peoples trading abilities
or experience based solely On the fact they Have been trapped here by a Halt.
Is insulting to everyone here
Not to Mention reading every one of my posts on I-Hub will never even get you a half a clue regarding What other stocks i have traded over the years,
Not a glimmer of insight into my trading can truly be gained by looking at what I hub stocks i may or may not have posted on.
Truth of the matter i consider the Pinksheets and OTCBB to be "Slumming"
Go Look At my posting on the CHD Chariot resources Board
Scroll Way down to see how far back i Posted there
THEN ADD 3 Years or More of time i bought Dips And sold into Mini Uptrendstraded the stock Collected the warrants like playying cards.
Heck You might even find a time in the last year or two Where I pointed to an empty room how the recent market collapse And institutional Divestment had driven it down to Never before seen lows.....
and the bounce for any patient longs was a buy out
Might have been a year or so's hold to make a mear 1000% Yes a 10 bagger, No not some whipsaw done in a day, A company with real assets, expanding everyday, Gladly Fully bought out at a PREMIUM of recent trading prices
Why did No One Bite except Righty ????
Because the people here dont do what I or anyone else tell them to do, they do what they choose based on there own DD,
And also, ive never had ANYONE try to blame me for them being here.
Why because they Are Adults who take responsability for their own actions.
YOU'SE Americans dont like good solid Canadian resourse companys so Much
Generally Nobody on the Hub wants to hold something a Year
or trade it for a half a decade
So Again i state You dont know much about people there experience
reading the entire NVMG thread, does that tell you anything
That was in ANY Of the literalyy HUNDREDS AND HUNDREDS of posts deleted by ,...
Far more poeple on the hub have the power to wander onto any board
And delete anything they deam worthy of it, without a howdy do diddly
to answer why to anyone, and generally them posts dont ever get reinstated.
Your quite new here, and i dont think You actually Know much about the layers of Moderators, Ghost Moderators and Admins...
It really can take a fair while to have your eyes Open to it
spending a couple nights reading posts, will never give you a Full
comprehention, of what does has or Can go on within these forum walls.
"i'm not trying to bash your, I'm trying to enlighten You"
but , you can lead a horse to water but he won't serve you Kool Aid in a Tea Set.
Sincerly....
Correction I am moderating the napg board
Might just save people a lot of money
and that could be priceless
have you answered any questions that would help anyone make money here ??
This is after all a DEAD COMPANY
its like the Kool Aid breakfast club for people who learned a hard lesson
Are you buyying NAGP ? None traded yet today
what have you brought to this board?
Insults ?
everyone does there own DD and if anyone let the bag holders down here
its the very people you are trying to defend
While they try to sell 504 shares
and here is why
8:42 AM ET, February 1, 2010
TORONTO, ONTARIO, Feb 1, 2010 (Marketwire via COMTEX) -- Chariot Resources Limited (CHD) ("Chariot" or the "Company") is pleased to announce that it has received a formal National Interest designation for its Mina Justa Project ("Project") from the National Government of Peru. The Project has been declared to be important under the provisions of the General Mining Law specifically citing its overall future contributions to the nation.
"We are very pleased to have received this formal declaration as it now places Mina Justa into an elite category of projects that are of special interest," said Ulli Rath President and CEO. He went on to say that "This declaration could facilitate approval of our ESIA and permits which are the last major steps prior to being able to start construction."
"Our aim throughout the sales process, which has now moved to Phase Two, is to make available a compelling package that consists of a technically sound DFS, a completed ESIA and a project that is at or near obtaining regulatory approval to start construction," concluded Mr. Rath.
ON BEHALF OF THE BOARD OF DIRECTORS
Ulli Rath, President & CEO
CHARIOT RESOURCES LIMITED
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian Securities Regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
SOURCE: Chariot Resources Limited
and thats how its done !!!
http://cxa.marketwatch.com/TSX/en/Market/article.aspx?guid=http%3a%2f%2fsystem.marketwatch.com%2fnewscloud%2fdocguid%2f%7b0A0BF400-32AB-4CA8-9A10-AAC3253171E1%7d&symb=CHD
Chariot Resources Limited Enters Into Arrangement Agreement with China Sci-Tech Holdings Limited
9:04 AM ET, March 1, 2010
TORONTO, ONTARIO, Mar 01, 2010 (MARKETWIRE via COMTEX) -- Chariot Resources Limited (CHD) ("Chariot") announced today that it has entered into an arrangement agreement (the "Arrangement Agreement") with China Sci-Tech Holdings Limited (HK:985) ("China Sci-Tech") pursuant to which China Sci-Tech has agreed to acquire through an indirect, wholly owned subsidiary, by way of a court-approved plan of arrangement (the "Arrangement"), all of the issued and outstanding common shares of Chariot at a price of $0.67 in cash per common share (the "Consideration").
The Consideration payable under the Arrangement represents a premium of approximately 52% based on the volume weighted average price of Chariot's common shares over the 20 trading days prior to February 22, 2010, the date on which Chariot announced that it was in exclusive negotiations with a third party with respect to a potential transaction, and a premium of approximately 38% to the closing market price of Chariot's common shares on February 19, 2010, the last trading day preceding that announcement. The Consideration payable under the Arrangement also represents a premium of approximately 54% over the closing market price of Chariot's common shares on September 3, 2009, the last trading day preceding Chariot's annual shareholders' meeting at which Chariot announced that it was reviewing the timetable for launching a formal sale process.
The Arrangement represents the culmination of such formal public sale process which began in October 2009. As part of this sale process, RBC Capital Markets, Chariot's financial advisor, contacted over 60 parties of whom 20 parties entered into confidentiality agreements and conducted due diligence.
A special committee of Chariot's board of directors comprised of three directors has supervised the sale process and considered the Arrangement. At meetings of the special committee and board of directors of Chariot held on February 27, 2010, RBC Capital Markets delivered an oral fairness opinion to the effect that as of the date thereof the Consideration to be received under the Arrangement is fair from a financial point of view to the shareholders of Chariot. Chariot's board of directors, after receiving the unanimous recommendation of the special committee that the board approve the Arrangement and in consultation with its financial and legal advisors, has unanimously determined that the Arrangement is fair to Chariot's securityholders and is in the best interests of Chariot and has unanimously approved the entering into of the Arrangement Agreement and unanimously resolved to recommend that shareholders vote in favour of the Arrangement Agreement at a special meeting of Chariot shareholders to be held to approve the Arrangement.
The completion of the Arrangement is subject to, among other things, the approval by 66 2/3% of the votes cast by Chariot's shareholders at a special meeting of Chariot shareholders to be held to approve the Arrangement, the approval by a majority of the votes cast by China Sci-Tech's shareholders at a meeting of China Sci-Tech's shareholders to be held to approve the transaction as a "very substantial acquisition" in accordance with the listing rules of the Hong Kong Stock Exchange and receipt of court approvals. The Arrangement is expected to close during Chariot's first fiscal quarter in 2010. The completion of the Arrangement is not subject to a due diligence or financing condition.
Lundin Mining Corporation, Solway Finance Ltd. and the directors and officers of Chariot have entered into voting agreements with China Sci-Tech under which they have agreed to vote their shares (representing in aggregate approximately 36.2% of Chariot's outstanding common shares) in favour of the Arrangement.
Under the terms of the Arrangement Agreement, Chariot has agreed not to solicit or initiate any discussion regarding any other acquisition proposal. Chariot has also granted a right to match any unsolicited superior proposal and will pay a termination fee of $7.6 million to China Sci-Tech if the Arrangement Agreement is terminated in certain events, including if Chariot enters into an agreement with respect to a superior proposal or if China Sci-Tech terminates the Arrangement Agreement in circumstances where Chariot recommends or approves any other acquisition proposal.
China Sci-Tech, listed on the main board of The Stock Exchange of Hong Kong, is an investment holding company and its subsidiaries are principally engaged in investments in financial instruments and property and resources investments. China Sci-Tech has been pursuing opportunities in the mining sector to diversify its income and asset base. After the completion of the Arrangement, China Sci-Tech's mining operation will constitute the group's principal business.
Chariot is receiving financial advice from RBC Capital Markets and legal advice from a team comprised of McMillan LLP, Davis LLP in British Columbia and Rodrigo, Elias & Medrano in Peru. The special committee of the board of directors is receiving legal advice from Wildeboer Dellelce LLP.
China Sci-Tech's financial advisors are BOCI Asia Limited and Morgan Stanley Asia Limited and it is being advised by a legal team comprised of Fasken Martineau DuMoulin LLP in Canada, Freshfields Bruckhaus Deringer in Hong Kong and Muniz, Ramirez, Perez-Taiman & Olaya in Peru.
ON BEHALF OF THE BOARD OF DIRECTORSUlli Rath, President & CEOCHARIOT RESOURCES LIMITED.
Forward-Looking Statements: Some of the statements contained in this release are forward-looking statements. In certain cases forward-looking statements can be identified by the use of words or phrases suchas "plans", "expects", "anticipates", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", or "does not anticipate", or "believes" or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements inherently involve unknown risks, uncertainties, assumptions and other factors well beyond Chariot's ability to control or predict, including, without limitation, the risk that the Arrangement may not be completed. Actual results and developments may differ materially from those contemplated by such forward-looking statements depending on certain factors. Chariot's forward-looking statements in this release are based on certain assumptions. Any forward-looking statements included in this release represent Chariot's views as of the date of this release. While Chariot anticipates that subsequent events and developments may cause Chariot's views to change, Chariot specifically disclaims any obligation to update these forward-looking statements unless required by law. These forward-looking statements should not be relied upon as representing Chariot's views as of any date subsequent to the date of this release. Accordingly, readers should not place undue reliance on any forward-looking statements.
Contacts:Chariot Resources Limited, Toronto, Canada OfficeUlli RathPresident & CEO