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Jan,
They don't have to accuse anyone as they know who the short is.
It is the company that bought the shares.
As soon as a 504 placement is contracted, the purchaser shorts the same amount of stock. For instance:
buy 100 shares at .005 of restricted 504 shares. At the same time you short 100 shares at the market or in this case between .012 and .10. Yes, I think they started weeks ago, that is why we are down from .10.
When the restricted shares come due, they hand them in to cover the short and make the difference. In the case of this example:
short 100 at .012 and cover with stock at .005 and you made .007 x 100 or $7. But in this case it is 225 million shares.
Swordchaser,
John is not a pumper, nor am I. I think we could be classified as hope'ers. Though hope should never be a criteria for investing.
Lou
Lanzamustgo,
I believe BDGR is 318.995.0404, if memory serves me.
Lou
Local said, "Leaving aside the rate of escalation of services, I'd say you're spot on. Uh, where's the money, uh your beef?"
So then, you would agree that if someone with knowledge, money, and integrity, got hold of this company, it would do well?
Swordchaser, I may have refered to you in conversation by your first name, never your last. If I ever made a mistake like that, I sincerely apologys. But I am guessing that it was not me.
Swordchaser,
You told them all about you and your SEC complaint. The only thing I said was that we were friends and that I thought you were honorable. However, that running to the SEC AFTER selling your stock was not typical of you and definately not honorable.
Be advised that many have complained to the SEC about this company, but BDGR is not on the top of the list. Unless a director with solid documentation speaks to them.
Lou
Local,
Some time ago you said that the 65% nri was no good and only companys with 75% could make money. That was when oil was at $60. So that meant BDGR got about 65% of $56/ bbl. or $36.40. And those great companys with 75% nri got $42.00.
Now at $127 oil and netting 65% of about $123, bdgr gets $79.95/bbl. Almost twice as much as what you thought a great oil company should get per bbl.
That tells me that BDGR is worth 2X what that great oil company was worth when oil was $60.
So now what is your beef?
Lou
up,
There are only about 1 mil. perf. shares and they have never paid interest. I believe they went to leaseholders for their property. I wouldn't see any connection between inst. and shorts.
Yes, now you believe everything Joe says.
Answer the question, did something happen to Mr. Neely?
dragoonman,
Are you saying that Tom Neely passed away? He was a nice man and that is nothing to joke about. BTW, when I heard the story of someone calling and threatening his daughter, I called him immediatly, and he already knew it wasn't me.
Lou
"We are continuing to execute similar minor projects with the limited monthly cash flows presently generated by the Company"
Summit just told all that BDGR is now cash flow positive.
Soso,
If you realy need someone to blame for your missforturnes, I have broad shoulders.
Should this whole thing end up in the trash though, it will be because people like you have encouraged others not to jump in and help.
Why should anyone put the effort, time, and money in this thing that I have, only to be belittled for thier efforts by poeple like you.
Hinding behind a call sign (soso) is not the act of a man.
Lou
Soso,
I will reply to you only in the hope that some enlightenment may help you.
Without reading every lease, you would not know if there are deep rights alocated or not. However, I was told by two poeple previously within the company that most leases contain deep rights. However, there is a minimum acreage requirement for deep drilling. So unlus you have large tracks or contiginous tracks, you can't drill to depth.
If there was a loophole found by Summit, it would be important, extremely important. Yet according to Local, no such loophole exist.
Next time, don't be so quick to pounce.
Local,
Thanks,
I had high hopes that Summit might have stumbled onto something interesting.
Lou
57,
Go for it. My concience is clean.
You should look inward.
Cadpine, or Local,
This paragraph was in yesterdays PR.
"Mr. Johnson added that his team had recently made a study of Louisiana State records and concluded that there exists a great opportunity to redrill older wells at different levels, noting that "even though Black Dragon's leases may appear to be located in a depleted, mature basin, the potential for exploitation of new horizons appears strong."
Does this mean that the wells are grandfarhered and are not restricked to acreage per depth. Meaning that if you had 10 1500' wells on a 40 acre track that you could redrill each to 10,000'?
Lou
Soso,
Never! And I think I can speak for the integrity of Spunky as well.
Lou
57,
An SEC audit is only neccessary for listing on an exchange. If your intentions are not to list this stock (maybe be absorbed by a clean shell), or to stay on the pinks for 2 years or more while running a clean ship, you then might get an sec audit.
Either way, a bank or any other funding institution does not require an SEC audit, just an audit.
cc,
Yes, audited, but not neccesserily SEC audit. Because of Joe's wrongdoings, it will never pass an SEC audit.
Plaintif,
You are right, there will be no SEC audit. But that isn't neccessary for the deal to go through. It is my guess that the funders are requiring just an audit of numbers and assets. That is doable.
And, to ruger. Your dislike towards me, now makes me feel better.
Lou
ruger,
I am not familiar with the phrase:
N**** in the woodpile here. Please enlighten me.
Tbird,
I have no idea what you are talking about here.
"I assume you now know how I was able to get the factual information despite your dismal denials of having any knowledge of certain and specific FACTS"
Get rid of the riddles and make an accusation.
Metro,
As I said in the post, "The way I believe it is going to happen, and this is only my take on it. I stress that I have no inside knowledge of this."
The story I posted was only my guess, as you must have yours. There is no inside info in it at all, at this piont I have none.
Lou
Soso,
I have heard nothing as of late either way. But the fact that PRs are quoting dthe summit guys and I haven't heard of them screaming foul, is a good sign.
Lou
Soso,
I know that the summit people are there and they appear to be honorable. I was told directly by Ben that they were brought in by the funders, though he would not say who the funders are.
So for now, we have to let it play out.
It was mentioned, I beleive by Tbird that the whole company can be bought for 12 mil, why would anyone want to pay 100 mil for 51%. I am afraid that is not accurate.
The way I believe it is going to happen, and this is only my take on it. I stress that I have no inside knowledge of this.
The funders take a stake in the company by purchasing a large block of stock that is already waiting for them when ready.
Say, 80 mil. shares at a set price. At approx 230 mil outstanding they need slightly over 115 mil for 51%. They then go into the market and buy the needed 35 mil shares, driving the price up to .50 or better for starters. They then loan the company 100 mil over time to buy assets and improve profitability. And remember why not fund it, they have summit running it and they have control. They also have 115 mil. shares that are now worth 200+ mil. The 100 mil is a note payable to them and they have 200 mil to leverage for other deals. If they conclude that nothing will deter thier success, it should happen and be great for us.
But remember, there are no sure things.
Lou
Tbird,
Why do you complain so much? I saw the nobo list, light wieght.
Swordchaser,
Please stay in touch even though you are out of BDGR and thanks for the SNG tip, I make a quick buck on the drilling anouncement.
Thanks,
Lou
kenco,
Yes, that was me and no Marsinvest is not an alias. Ask 57tbird, he has met Ed.
Lou
Soso,
Yes, I remember it well. And nothing has changed, except that haven't called me. 781.585.7400.
Lou
Soso,
Why would you want to stop a deal you know nothing about? Why would you want to stop a deal that you don't know isn't good for the shareholders. Let us all find out what the deal is, then you can decide how the world should react.
Lou
soso,
Call me if you like. 781.585.7400
Lou
Snowcrow,
In my opinion a large funding, and the departure of Mr. Lanza may be good for the shareholders. I have been given no details of any pending agreements, and make no judgments at this time.
But if this is in the works, it is just what we would have done.
Remove Lanza and bring in financing and capable management.
Lou
snowcrow,
Nothing is ever known for certain. However, there is some truth to this pending deal. IF it goes through, there will be much higher prices for the shareholders. That is what we all want. So we wait and see.
Lou
Wrong, real wrong.
Lou
On the record date of this meeting, Oct 31. Lanza wrote 56 mil to himself, some to his kids, 1 mil to dave taylor and 30 mil. to 2 other people I do not know.
The outstanding shares are north of 225 mil.
Thanks for the dillution Joe.
Plaintif, Thank you and many others for the support. And it is the support from people like you and many others that have brought in this funding program and Lanza's retreat.
Kenco, no one has underestimated the "family man". We have backed off to allow this funding to play itself out. If it works out, there is no need for our further efforts as we want what everyone except Lanza wants, an honestly run company and maybe even profits.
Lou
To all,
At the present, it appears that I am no longer a director of BDGR and thus have a lot more latitude in posting.
I am not sure I believe the claims of Mr. Lanza's voting count. With over 3000 shareholders and the fact that votes cannot be tallied until the close of today, I doubt very much that it could be done already. Nevertheless, the count will be what ever he desides it is. Unless it is challenged.
This is the first I have heard of us getting 5 mil. shares Joe. And even though this deal would never be happening except for the corner we pushed you into, I wouldn't want any shares from float.
However, if you would like to give me 5 mil of the 60 mil you handed out to yourself and family on Oct. 31st, or the 30 mil you handed to other on that date, that would be okay with me. And might be okay to the rest of the shareholders. Lets all take a vote on that.
Lou
Kenco,
Sorry for the confusion. Marsinvest is a consultant for my business and a lifelong friend. He has access to all my computers and must have been the last to log on to Ihub with this one.
As for all else. This deal could be good for the shareholders. The problem is that we do not know either way, as little has been forthcoming. However, an honest child could do better with this company than Lanza.
Lou
Dear Joe,
I will begin by saying that I had a wonderful time with you and your family in LA some months ago. That being said, I had encouraged the new BOD to do our best to allow you to make restitution to the shareholders so that the chances of your son, wife and yourself spending many years in jail might be mitigated, as we believe that it would have been the best solution for the shareholders. That opportunity has now past.
According to your PR of Nov. 8.
"Black Dragon's operator shipped approximately 4,150 gross barrels of oil in the month of October."
4150 bbls x .65% x $90/bbl. = $242,775. According to your lawyer today only $65,000 was escrowed. That left over $177,000 that was received on the 20th of Nov. Please explain to the shareholders how production stopped for the last 10 days of the month.
Please explain to the shareholders how according to the same PR,
“Inventory rose to 6,131 barrels up from 3,200 in September, an increase of 2,931 barrels.”
….that with 6131 bbls in the tanks and production that should have been at least 7,000 bbls for the month of Nov. and you only picked up 2,931 bbls.
Please continue to think these shareholders are stupid and come up with a whopper for that one. If you would like to explain how 12,000 bbls of stored oil disappeared previously as well, we could use a chuckle. After all, our stock is at less than .02.
I would not expect to have a shareholders meeting as you intend, while the shareholders are spending there holidays. Shareholders meetings deserve authenticity and availability of voting. Expect a change of plans Joe, for the meeting and the remainder of your existence.
Sincerely,
Louis Chighisola, Jr., Dir/Sec., BDGR
Dragonman,
If bdgr does well with the new board I will buy you a keyboard that works.
Lou
LGL,
I am begining to be suspect of your motives. You should know full well the good intensions of this board. We have invested a lot of money in attorneys along with other sharesholders that have donated funds, however you declined to help. I for one would be very interested in any real info you have on myself and the rest of the board that is spending many hours each day fighting for everyones investment, including yours.
Lou