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Not a lot of selling going on at these prices. Must be a few people that think ARET is worth more than ~$4.50.
They might if they want to release good news on the heels of bad news to reverse a decline that results from the bad news.
Oil, if the stock starts dropping on bad news about the debt ceiling it would be good to have some good news to release to turn it around.
I guess as long as gasoline prices continue to go down this stock's price will go down, even though it is under valued to its holdings.
Wall Street Resources report did not help another company I am invested in. That company is finally making a comeback but the WSR report was a few years ago and it has been way down since. You have to actually have net worth or revenues. Unless you have that no amount of reports is going to help.
panther9191, what report are you talking about not being released until June 30th? The Ryder Scott is already out.
I'm still around. A month late getting anything planted and it rained again today. Got some ground worked. Hopefully can plant soon. Not much to say about Arete. Waiting to see what happens next. Hopefully I will be proven right in not stop lossing out at $6.
There's an old one that was capped and never developed, no pumping equipment or anything. Don't even know if there was anything there by modern standards. Most oil production in Ohio is to the north and west gas to the east.
rubberworm, I agree either DNR has been busy the last couple of years or there was more than originally offered.
I have been switching to organic crop production the last few years. Still the mainstay corn, soybeans, and wheat, or other small grains only grown to organic standards. There is an organic feedmill at a nearby cage free organic egg laying farm that also ships feed to other farms. Looks like our main crop around here will be mud this year though. Haven't got anything planted yet because of record rainfall and the forecast is for more rain. Shame Ohio is too far north to grow rice.
rubberworm, I'm not sure if you are splitting hairs or not but the old website said that the deal was to buy a company and they are buying all of the property that DNR and Tindall own. I would consider that buying them out.
Seems like the volume is picking up. Wonder what is up?
Waterfall, that's not big losses. That's just the cost of doing business. Did you think they could acquire all of those oil wells and leases for nothing? I'm starting to think you are a basher and not just a concerned shareholder. The board members put up this money out of their own pockets. Now they have shares at $8 for their trouble.
"The Company had a director of the Company pay for consulting services related to the marketing of the Company, its financing and financial operations. The director paid the consultants 42,000,000 shares of his stock in exchange for the services valued at $ 430,000."
Would this be where most of the "Selling General and Administrative $461,000" went to?
"And finally: "The Company owes its directors for services for part of 2008, 2009, 2010 and first quarter 2011. They are accruing $128,000 during fiscal 2010 and first quarter of fiscal 2011 to be paid in the future with 7,284,273 shares of Common Stock valued at an average of $0.0176 per share.""
That would be pre reverse split.
Thank you for posting boiler plate statements that have to be put in the 10Q so no one sues them. You did post one thing (I have not read the whole filing) they had said would be taken care of with the cash flow from the pipeline and the main reason I thought for acquiring it, the back payroll taxes from the first part of the last decade. The statement you posted from the 10Q is interesting because past filings had indicated there was already an IRS lien. What you posted suggests there is no lien at this time.
It's been too wet to do any field work this spring, and we just got another 3.3 inches of rain yesterday. I'm an organic farmer so I have to till the ground to control weeds. I can't just no-til plant some seed in ground that is normally too wet to even no-til into, hope the soils don't then dry out preventing the seeds from germinating and the roots from penetrating the seed trench walls, and then spraying chemicals to control the weeds. I won't be doing any field work for at least two weeks if it doesn't rain. Most every day on the 10 day forecast calls for rain. Right now it is even too wet for the no-tillers.
We've only traded 350 shares? It may be that no one is buying, but no one is selling either. Maybe we're all steedy.
You don't think I'm steedy?? Maybe I'm just steady.
Am I greedy or stupid? I'm already up 322% after 7 years of waiting. I still believe I'll double my money if I wait for the deal/Ryder Scott report. Sorry I asked. I know who'll answer what. I just couldn't stand the lack of activity.
Echo20, under "Extensive Portfolio of Mineral Properties in South Africa" you should delete the mines we know they don't have anymore and warn people that more may have been given away then we know about.
dis0wned, only buy if you are going to day trade and sell on a few .0001s of a rise. They gave everything away a few years ago. CGHI no longer owns anything of value.
That is correct. Stock price alone does not move you up. Without referring to the requirements Oilbull has posted previously there are other requirements which usually include a certain amount of net worth.
No, still over the counter but Yahoo still thinks we're pink.
No, water is being snide.
basilio4, the Ryder Scott report was due a few weeks ago. The latest news on it that I saw a couple of weeks ago said they were still working on it. They will not release it to the public until the deal is finalized. The deal won't go through until the Ryder Scott report is presented to the board, so I would say we will see it as soon as the deal is finalized.
Private means they are not publicly traded (having shares that are quoted and traded on an exchange or through the bulletin board. This is why Arete is getting such a sweet deal in this acquisition. It is expensive to do an IPO so DNR is backing into becoming publicly traded through this deal. Some companies by shells like Arete was before the pipeline purchase for the few hundred thousand dollars that their market cap is worth so they can become publicly traded without doing an IPO. Somehow the old Arete board members talked the owners of DNR and Tindal into doing the opposite. A sort of reverse merger where one company, ARET buys another that is actually worth more than they are. They set up the pipeline purchase so Arete could pay off the IRS tax witholding lien so this deal could then go forward.
'basilio4' From the website
"Arête Industries, Inc. is currently following the path it put forth in April 2009. We are engaged in accomplishing our 4 goals:
1. The cash flow purchase of two existing oil and gas companies.
2. The completion of all past and current filings.
3. Pursuit of other opportunities that meet our strategic plans.
4. Creating value for our shareholders.
The reason this is such a sweet deal for Arete is DNR/Tindal gets to back into becoming a fully reporting publicly traded company without the cost, receive 10 million in cash and probably enough stock to make them rich when it goes to $35. Oh, and also pretty near if not out right control the new company. As I said they are basically backing into becoming a fully reporting publicly traded company.
Manhattan2, what is the url of the new website?
The Ryder Scott report is supposed to come out when they announce the closing of the DNR/Tindal deal.
ARETD correct
We've got the D. Now Yahoo can't find any information on Arete for awhile.
Barney, did you even click on the link to see that it is just a generic business listing that Arete probably doesn't even know about?
In start up penny stocks the odds favor the shorts.
Poltava, "We expect that the acquisition of these assets will be the start of our long-term development plan for Arête,"
Do you suppose the management doesn't consider Arete to actually exist until after the DNR/Tindal acquisition? Or is it that they have considered the DNR/Tindal acquisition "immediate" since they first announced the plan to acquire it years ago and everything else "long term"?
""We have submitted an application for an (additional?) $7,500,000 line of credit at a bank and expect to be able to have final details on this credit facility by the middle of May 2011.""
Yes the $7,500,000 line of credit would be in addition to the money needed to acquire DNR/Tindal. They will need that money to drill and develop the 5+ wells plus the joint venture in Wyoming.
Do you suppose most don't believe DNR/Tindal could be worth over $100,000,000 if Arete is able to buy them for $10,000,000 plus other considerations? Maybe the owners of DNR/Tindal are counting on 5 million post R/S shares, if that's the "other considerations" being worth $150,000,000+.
I should have added IMHO. I don't know that they have their bank funding, if the survey or the deal is done, or if there will be any shares issued as part of the deal. I presume this last is one of the big reasons for the r/s, so they will have shares available to issue as part of the "other considerations". I'm just pointing out some of the possible benefits DNR/Tindal may have for "being acquired" by ARET.
I thought I remembered reading something that made me think there had been a previous study. I haven't been able to find it again. I presume the study funded by the ARET board member to be repaid in stock is the Ryder Scott study. As for "But you can bet ARET had a pretty good idea of what was in the ground before they started this whole process" I'd have to say the old ARET, no, the new ARET is a different story. Maybe the reason this is such a sweetheart of a deal is that DNR did not have a reserves audit they could go to the bank with so besides backing into becoming a listed company and getting rich off the appreciation of the shares they're getting they're getting the Ryder Scott survey paid for.
Te stock price does not have to be .08 for the debt to be converted to stock. It depends on what the agreement says.
Most reverse splits done in desparation to shore up failing stock prices in companies that do not have the valuation to support anything are bad for shareholders. If they have a high valuation (say if the Ryder Scott report supports a 100 million dollar plus) and they get the visibility of being on a higher exchange then that has been good for shareholders in some other cases.
If it goes straight up it can come straight back down. A little bit of consolidation along the way won't hurt. I still say this ain't no volume. If it moves down on 7 figure volume then take notice