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I recall reading somewhere, if a Fderal Judge sees, hears, reads or believes that a crime has been committed, he must refer the matter to the Justice Department. When the Justice department gets a referral from a Federal Judge they Do act. I wonder what Joe and his friends and family are doing now.
I just can't get the theme song from cops out of my head:
Watcha gonna do, whatcha gonna do when they come for you
Bad boys, bad boys
Watcha gonna do, watcha gonna do when they come for you
Black Dragon Resource Companies, Inc. Voluntarily Files for Bankruptcy Protection.
http://www.tradingmarkets.com/.site/news/Stock%20News/2088750/
I guess this was the only way to get rid of Joe.
I Love this line:
The company also expects the court to demand clarification of the disposition of certain company assets.
I guess we are all screwed, but Joe will get his ;~)
I would think this is not all bad, it seems to show Joe, or whichever of his flunkies signed the OGP may have committed a crime (perjury). It may be the forklift we need to get his fat a$$ out of BDGR. I just hope Smith has his attorneys ready to file suit.
I thought I would stop by and see what is going on at BDGR. It is the same old s*** different day. Kenco, I would agree with you concerning the typical Lanza mo / scam. In fact I think that Joe started this as a scam, and then the worst thing that can happen in an oil scam happened, the price of oil goes up 400%.
If oil went up and down in 30 - 60 dollar per barrel range Joe would have just sucked the money out of BDGR and the stockholders would bitch and moan. However, Joes business plan worked, and now he has to deal with the shareholders, the SEC and the US attorney's office.
Just think of poor joes panic, if he decided to let real oil men run the company, keep the stock over a dollar he would have over $100,000,000 in assets.
I think Joe realizes that he has to act soon, or his house of cards will collapse around him.
I agree that the bashing of Lou is nothing but BS. I agree with Swordchaser that that Lou has did more than anyone else on this board. Lou has given us his real name and telephone number, this, in and of itself gives him more credibility than anyone else on this board.
It is very obvious that the Summit deal put a monkey wrench in the hostile takeover. The new board was in an awkward position – if they continue the fight for the board and the Summit deal goes south, it’s all Lou’s Fault. Joe would have the perfect fall guy. With the New Board backing off and allowing the deal to progress, they have given Lanza the rope either climb out of the hole he created or to hang himself. The ball is squarely in Lanza’s hand. If the Summit deal does not work, all the legal remedies are still available. I for one continue to back Lou.
Lou,
It’s funny, when I checked with the Delaware Secretary of State on 10/31/07 and again on 11/1/07 the total authorized shares were 110 million. How did corporate counsel allow Lanza to issue more shares than Delaware allowed? BDGR filed a document to increase the authorized shares to 500 million the first week in November -- after the 10/31/07 date.
I would think that only the 110 million votes could be cast at this meeting. Did Froling give an opinion at the meeting?
Here is my take on the whole new BOD vs. the old BOD … I don’t care. I buy stock for one reason and one reason only … to make money. I think from my prior posts one can see that I am no fan of Joe Lanza, I have given my proxy to the ne BOD for one reason, Lanza took my $2.00 stock and made it 2 cents. Now, it appears that the planets have lined up and for whatever reason (probably the price of oil) , this company is going places.
So, here is my suggestion to Joe and Lou: forget about personalities and personal feelings. Joe invite the new BOD to see what is going on, Lou go to Oil City and see the new deal Joe has put together. Guys, I honestly do not want either of your egos screwing the deal, The guys from Summit are the real deal. Joe and Lou DO NOT SCREW THIS DEAL UP. As I said before all I want to do with BD is make money.
JJ
Joe, I never thought I would say this but maybe you pulled it off. I am willing to support your latest venture because my minimal review of the Summit guys gives me a much better feeling that my investment will go up. These guys seem to be the real deal, I hope so. So Joe, please don't screw it up.
JJ
When Joe pumps this up to $2 - $8 share, like the old Red Chip report then he will get my vote, all I have seen Joe do is take a $2+ stock to .02.
Please Mr. Downapenny, please tell me the date, time and location of the meeting. My notice of meeting and proxy must be lost in the holiday mail. Also, who sent you the proxy? Whose names were on the proxy? Just some simple questions, but it seems like you are the only person who received the document.
Joe,
I went online again, on November 1, 2007 there were 110 million shares authorized.
On November 8, 2007 you were fired.
On November 13, 2007 you increased the authorized shares to 500 million.
I hope you and Mr. Frohling are dotting all the i's and crossing all the t's.
I hope the transfer agent hasn't issued more than 110 million shares.
Joe, WHERE IS THE AUDIT?
Wow,
Joe Lanza himself. Well, if it is you, can you tell me why any shareholder would support you?
Can you tell me why the Delaware Secretary of State tells me there are only 110 million authorized shares of stock?
Can you tell me why my stock was worth $2.00 per share when oil was cheap and it is now worth less than 2 cents?
Can you tell me why you can’t produce an audit?
Can you tell me how much Black Dragon money has been sent to entities controlled or owned by your family and friends?
Can you tell me why I have not received any official notice of a shareholder meeting?
Please Joe, please tell me.
Just one last comment, if there are any shareholders who have not contacted Robert McGuire, Peter Lau, and Louis Chighisola and given them written consent, and or proxy it may be a good time. Lou has posted his number on this board many many times: 781-585-7400. Quite honestly, I would love the new board to have the support of every shareholder who is not named Lanza or Neely. LGL were these the forms you were collecting?
Lanza has already lost control ... he refuses to admit it. His November 26 press release is meaningless. I would think that any banks that Black Dragon has been using have froze the accounts and have told Joe that he will need a court order. The transfer agent probably won’t take Joe’s panicked phone calls. Joe is in over his head and he doesn’t know what to do. He is treading water. I only wonder how long he can last ... no money, no stock , no Black Dragon.
As have stated before, I am backing Robert McGuire, Peter Lau, and Louis Chighisola.
I guess that there is going to be a court fight in Delaware. I think Joe is going to have to explain the 150,000,000 shares when the most authorized according to the Secretary of State of Delaware is 110,000,000. Oh well, first Joe will have to explain it to the Judge and then the Secretary of State. Then the referral to the US Attorneys office. Mr. Neely will also have to “splain” himself.
I am putting my shares behind Lou Chighisola. I’m going to bet that Lou’s attorneys in Delaware are better than the “Fat Bastard’s”. The problem Joe is discovering is that with the benefits of a Delaware corporation come certain detriments, specifically, Judges who understand the corporate law and have no problem enforcing it swiftly.
I would think that prior to today’s purported press release, the transfer agent, Banks and the buyers of oil have already been notified, and have already frozen the accounts, waiting for the resolution from Delaware. I wonder how long the “Fat Man” cam survive without his cash cow, BD.
I opine that Joe has just overplayed this hand and it is about to comeback and slap him right in the a$$.
On 11/1/07, I checked with the Delaware Secretary of State ... 110,000,000 authorized.
Actually, I think it’s a great time. It's on a Saturday, easy to fly down on Friday, fly back on Sunday and be home for Christmas Eve. Anyone (Dragonman Localoil) know any good restaurants in Oil City?
LGL,
I am hoping that we are able to rid BD of Joe and his family forever. I checked with the Delaware Secretary of State, http://www.corp.delaware.gov/onlinestatus.shtml . There are 110,000,000 Authorized shares as of today.
I am putting my shares with Lou, I have faith in him. We only need 56,000,000 shares to control the board. Does anyone have a copy of the bylaws? My guess is that we will have more than enough shares to remove Joe, and void any of the BS contracts Joe entered into with his other companies.
Finally, any ideas what the PPS will be without Joe and family?
Here is what I don't understand: You blame Joe for everything. I don't disagree with you. My problem is you constantly bash the company. As a shareholder, that hurts my investment. I have asked you to take your facts to the proper authorities. I have provided you with the address and telephone number of your local FBI office. You apparently have not contacted them. This leads me to believe that you are more interested in keeping the share price low than removing Joe.
Local, LGL, SoSo, Dragon have you taken all that great information to your local office of the FBI? You guys should give up your day jobs and become investigators. Did your guys in Oil City see Joe yesterday? I hear that he was jaywalking. Is there anything this guy won’t do? Did you report all these crimes to the authorities? Can’t find your local FBI office? Here is a link, just click on your state and you will find the local office.
http://www.fbi.gov/contact/fo/fo.htm
Guys, come on, you are all shareholders, right? The only problem with BDGR is Joe, right? The only reason you bash BDGR is because of Joe, Right? You have proof that Joe violating all kinds of laws, right? So report it to the authorities. Don’t worry, they won’t hurt you, they don’t bite. Unless you can’t go to the FBI. You wouldn’t have ulterior motives would you? You wouldn’t be posting false or misleading information in order to manipulate the stock price would you? If that is the case, the may have to say
“You have the right to remain silent. Anything you say can and will be used against you in a court of law. You have the right to have an attorney present during questioning. If you cannot afford an attorney, one will be appointed for you."
Don’t worry it’s only a technicality, something they have to say.
Soso, you and your friends are so full of BS its killing me. You motive for posting everyday, all day long is because you want Joe in jail. I gave you the number for the local FBI office, call them, put all facts together and get it to the FBI. If Joe is 1/10 as bad as you say, the FBI and US Attorney would be all over him ... but you haven’t called.
That’s not the basher way, you could care less about Joe, your job is to beat BDGR down, either your boss is short, or he wants to acquire the assets of BDGR at a fire sale. You and the others constantly beat down the company in which you allegedly own stock, I guess you have a death wish for you investment.
I’m gong to hold my stock, and see how it plays out. My gut tells me you and your buddies are working way too hard on a 4 cent stock Soso “doth protest too much, methinks”.
Enough already. All this talk about the FBI and the SEC, please enough already. Just walk into the your local FBI office, they will talk to you.
Local, Dragon, here is the address and telephone number for your local office:
FBI New Orleans
2901 Leon C. Simon Dr.
New Orleans, Louisiana 70126
(504) 816-3000
LGL for you your local office is:
FBI Las Vegas
John Lawrence Bailey Building
1787 West Lake Mead Boulevard
Las Vegas, Nevada 89106-2135
(702) 385-1281
Go to the US attorney’s office, they will talk to you. If anyone lives in NJ, the US Attorney would love to talk to you. LGL the case you keep posting was prosecuted in NJ wasn’t it? Call the authorities. If Joe has fractured a few laws, bring it to the authorities. I can tell you that they are not reading your posts here, looking for good leads.
You bashers have nothing better to do then to post hundreds of times how bad Joe is and how bad the company is, constantly beating (or manipulating) the share price down. I always ask why and I always get the same BS reason. If you hatred for Joe and his family is so great go to the authorities. Bashing a 3 cent stock seems to be a waste of time.
Local, I think you want BD’s leases cheap. Why, I don’t know, maybe to work your leases with all your new fangled technology you keep talking about. I thought you said for some deep drilling you need 300 acres, BD’s wells aren’t in between any of your leases are they? Are they blocking you or someone you know or work for from getting more oil out of the ground? I don’t know, it just seems odd the bashers are spending so much time here on this board.
Just a thought LGL, I think your proxy Idea may be beyond what one can do on an IH message board. I have been a shareholder for a couple of years and do not recall any shareholder meetings ... ever. I thought that every DE corporation has to have an annual meeting of shareholders each year, if they don’t, after a 13 month gap, any shareholder can petition a court for a meeting. I would think that it would be a lot easier and cheaper than a proxy fight. An alternative thought is have all disgruntled shareholders join forces (and finances) and kick in $1,000.00 to retain er a lawyer in DE to file the lawsuit. Does anyone know a DE corporate atty?
Lou
Is this what you were looking for?
http://www.investorvillage.com/smbd.asp?mb=436&mn=13&pt=msg&mid=1472976
Wow, I don’t spend a much time reading this board anymore, boy I take a peek and wow, look at all the chatter. It looks to me like someone, is concerned about the trading volume. The bashers have came back with a vengeance since July. Look at theses guys, the bashers, they post everyday, all day long, how do they earn a living? Unless bashing is what they do for a living.
I’m guessing that whoever is paying for the bashing is worried something is up with BD and that’s why the bashers are back. Why else would they spend so much time bashing a company that is worth 5-6 cents a share? Their purported reasons: they hate Lanza, they were offended by Red Chip, they lost money, they work in the oil patch and have seen this before and are trying to protect us.
Lets look at what they perceived as the problems: they wanted transparency with an audit, BD posts financials on its web page and the Audit is due in September; they wanted new management, they wanted Lanza out, it’s done. Now they don’t like the management, they don’t know Mike Ellis, but Trooper is sure he is not an oil man. They relish in their anonymity and ask others to believe them, because they “know all about oil”.
They seem to be running out of things to bash about, then, OMDA issues a press release and files an amended complaint, that says the same old thing (and appears to be written by a fry cook). My guess is they will be harping on the lawsuit very soon. My guess is that OMDA is funding the bashers, although they may be short, I would assume they have covered at a nickle a share.
Lou,
You did a great job as a shareholder advocate on this BB, I hope you continue the work on the BOD. Of all the posters on this board, you are the only one who has any credibility. For as long as I can remember, you have posted with your name and number. No one else has had the courage to do that, myself included, certainly none of the “experts” (bashers). I am actually looking forward to a stockholders meeting.
JJerry
Ryan2,
You are correct, you actually have the best post that I have seen in weeks. It’s funny that nobody really posts any facts, they just bash, bash and then bash again.
The amount of bashing makes me wonder what draws them here. They all seem to fit the mold outlined in “Confessions of a Paid Stock Basher”.
I still don’t understand why the bashers are here. If they were short, they certainly would have covered by now. I just don’t know. Maybe they work for the company that wants to buy BDGR, but I think that would violate a few laws and contract provisions. Maybe they work for the actual owners of the wells, hoping that they can get their wells back and make money now that the price of oil is up. Maybe it’s Lanza, who wants to take the company private, maybe this was a scam when oil was cheap, he could skim the profits and screw the shareholders, but now he can’t do that at the current price of oil so he wants to take it private. I really don’t know, it’s obvious that the paid bashers are here, the only question is why.
Yankee,
I’m sure they will find another attorney, generally, they’re a dime a dozen. However, if they don’t, the case generally can’t proceed. In most jurisdictions, a corporation cannot represent itself, “pro se”, generally, a corporation must be represented by an attorney.
Tradedilly, the amount of attorneys fee awarded in a summary judgement motion are generally for the motion only, not for the entire case. The amount of money in question is peanuts, maybe 5 - 10 grand.
I have found that many law firms will continue to represent a plaintiff if they see a pot of gold at the end of the rainbow. If it is true that the law firm withdrew because they were not getting paid, then I would assume one of two thing, 1. the law firm did not have the resources to continue litigation, probably not or 2, the law firm did not see a pot of gold after trial. One may opine that the attorneys representing OMDA made a financial decision that they could not win at trial, or if they did win, only nominal damages awarded. Thus reducing any chance of the legal bill to be paid.
CT keep the faith, I only check the IH on the weekends now because it is being dominated by those, smarter than me, who are out to save us all, to protect us from our inability to do any DD.
Here is my 2 cents ( or 11 shares of OMDA): Why hasn’t OMDA posted their pleadings, orders and judgements on their web site? My favorite CEO, Patrick Byrne, tends to post all the litigation stuff on Overstocks web site so everyone can see what’s going on.
http://investors.overstock.com/phoenix.zhtml?c=131091&p=irol-lawsuits
I’m sure OMDA has the ability to do it, why not do it? I logged onto their site, went to legal proceedings
http://www.omogoil.com/new/legal.php
and found a big black box, no info, just some press releases.
If OMDA was so confident in their litigation, why wouldn’t they post the actual pleadings? With all do respect to the OMDA posters I think most people would prefer a PDF that they can read, rather than some cutting and pasting. If there is a link to the pleadings, please post it, thanks.
Trooper, your killing me, this will be my last post on this subject, I promise, but I cant take it.
It is abundantly obvious that you have never had dealings with the EPA, but the State where you drill does. Lets start with Louisiana, go to the CFR and you will see that LADEQ has be delegated by the EPA as the enforcement authority for “Oil and Natural Gas Production Facilities”, and just about any other Oil based industry. When the Feds delegate to the States, the “delegations are subject to all of the conditions and limitations set forth in Federal law, regulations, policy, guidance, and determinations”.
Take a look at 40CFR112.1 which states: “this part applies to any owner or operator of a non-transportation-related onshore or offshore facility engaged in drilling, producing, gathering, storing, processing, refining, transferring, distributing, using, or consuming oil and oil products”
Also, look at 40CFR 112.10.
Sec. 112.10 Spill Prevention, Control, and Countermeasure Plan requirements for onshore oil drilling and workover facilities.
If you are the owner or operator of an onshore oil drilling and workover facility, you must:
(a) Meet the general requirements listed under Sec. 112.7, and also meet the specific discharge prevention and containment procedures listed under this section.
(b) Position or locate mobile drilling or workover equipment so as to prevent a discharge as described in Sec. 112.1(b).
(c) Provide catchment basins or diversion structures to intercept and contain discharges of fuel, crude oil, or oily drilling fluids.
(d) Install a blowout prevention (BOP) assembly and well control system before drilling below any casing string or during workover operations. The BOP assembly and well control system must be capable of controlling any well-head pressure that may be encountered while that BOP assembly and well control system are on the well.
I can go on and on if you like, honestly, where do you think the “rules and regulations” come from Baton Rouge?
I have never had to drill a well, nor cap a well and I hope I never will. I only to deal with liability issues when TSHTF. As I have stated before, a landowner can never ever avoid liability by transferring to a third party.
Thanks, but I'll pass on the LADNR, it can't help with the liability issues. I do love the world today for many reasons, including the web, because I get the chance to see someone who drills and caps wells for a living try to explain environmental liability.
Ok, Troop, you want the facts, www.epa.gov will get you going. As you must know, the EPA is the main federal agency that seeks to abate and control pollution by research, monitoring, standard setting and enforcement. This includes oil spills and contamination. The EPA sets the basic rules, the floor if you will, the states set the ceiling. The States can set higher standards but not lower than the EPA’s floor. The EPA delegates to the states, and the states administer the EPA programs. In Louisiania, the EPA delegates to LDEQ, www.deq.louisiana.gov , who administers many of the EPA Programs. If you want me to continue, please let me know.
Also, if you go to the EPA page you will get the basics on environmental liability. The entire point of this liability lesson is that contrary to localoil’s statement, no landholder nor lessee will be released from liability by leasing, subleasing, assigning or any other transfer to BDGR. Thus, localoil's conclusion that the transfer of ownership or rights in property to BDGR to avoid liability is wrong.
Localoil, trooper, I would suggest that you go to www.epa.gov and start there. Maybe, I should clarify the liability issue. Of course a landowner can contract liability to a third party. However, the transfer of property via contract, lease, deed, etc. cannot and does not relieve the landowner of its liability. It’s like insurance, it doesn’t relieve you of liability, it just pays for your mistakes. I won’t belabor the issue. If you need help on the liability issue, I’ll post some links for you.
They’re back the shorters, the bashers, the experts out to protect us from this little stock. What kills me is they spend so much time on the boards bashing this little stock they must not have much else to do ... what a life or what a job.
Localoil, its obvious you are neither local nor in oil. How did I figure this out? Lets just say, your statement
“Dragon's assumption of the liabilities of plugging the wells meant that ANYTHING was better than nothing from the seller's perspective” is wrong.
If you were in oil, you would know that you cannot escape liability by leasing troubled properties to a third party. You would also know that if you lease your property to a third party you are responsible for the lessee’s spills and contamination. So an “Oil Man” would not take that risk for a few shares of pink stock.
If you were local, you would not have to obtain “an account at Caddo County Court House” you would walk down, give the records clerk a few bucks and walk away with whatever copies of documents you need. Then you would scan the document and post it. So please get off the “I’m local and in oil” thing because you are neither.
Cameraturret I can’t take it anymore. It is so obvious what they're doing. Lets see, they own the stock, but they did DD after they bought stock. They lost money on the stock, so now they are the white knight coming to the rescue of all other shareholders. We should all sell whatever shares we have and thank them for the rest of eternity. Here’s what I don’t get about bashers, their ability to do DD after they lose money is incredible, no stone is untouched. I just don’t get how someone with such talent could have made the mistake of buying this stock in the first place. Maybe they just discovered google.
Here’s what I think: I think that we have one or two bashers, each with a couple of IDs. These fella’s may have MBAs from a mid to lower tier school. They tried to make it on Wall Street, but failed. They worked in pump and dump shops for a few years and figured out the “naked short”. They didn’t have the ability to go after any big fish, so they go after the “pinks”. Maybe I’m wrong, I am not a altruistic person by nature, however, I have never seen so much time and energy spent trying to beat the price of a stock down as I have here.
That’s why I think I’ll continue to purchase this stock. If the bashers have to work so hard at keeping the price low to cover, they are worrying about something, my guess is that this company could make it and if they do watch out. Why don’t they just go down to New Orleans and check it out. Heck it’s only $340.00 round trip from LAX to New Orleans (Louis Armstrong International Airport).
Have a good Thanksgiving.
If BDGR is such a scam, what is the OMDA lawsuit about? It just doesn't seem to jive that OMDA would waste time money and energy on a company that is a scam. I am going to do some DD, somethind just dosen't smell right. I have not yet read a post with any real facts.
It seems to me that someone is throwing a lot on the wall and looking at what sticks. Why, is the question. I am always worried when someone comes to help, whether it is the government, a stranger, or a poster. Maybe the audit will finally come and we will see, or maybe the auditor will just quit. Then we will know something.