Yes, my dividend shares disappeared also about a week ago.
I have e-trade, but have not bothered to ask them about it, because of what I have been able to piece together from this board and other places.
Seems the agency that issued the shares in the first place to the brokers simply reversed what they had previously done. Seems like there was some kind of a problem with the issuing procedure. Now apparently a different agency will be issuing the dividend shares. But, keep in mind that they are not really shares yet, but rather reference number units, so to speak, to claim actual shares in 6 to 12 months. So that's my story and I'm sticking to it, at least for now :)
The real action should take place in the next 45 days. My guess is that we will get a press release announcing that drilling on the test well has begun at the Ohio site. That should get some reaction from the market and could send the share price to $5. We should eventually get a second press release about production, which could send the share price on up to $10. These are just estimates I am using based on some research I did earlier.
Keep in mind that there are only 167,000 shares in the float and slightly less than 1 million outstanding. With such a small float it shouldn't take much buying to greatly move the share price. What if we get a buyer who wants 50,000 shares, or maybe 100,000? Say we get several buyers like that on news. Do the math and you can see the potential.
But it all depends on actually starting to drill and then actually getting a normal rate of production for that area. If that happens, FNRC will get a new lease on life. If it doesn't, it could be lights out sooner rather than later.
Good luck,
Cropduster
