Deception, what I realize is that FNRC can still issue up to 20 billion shares if it wants to, but not an unlimited amount, as you say. Maybe some folks would say 20 billion is unlimited. In any event, I have never said FNRC is not a hugely risky company. It is very risky, at least at this point. The difference between you and me is that you think it is a scam. I think it is a failed company that is trying to give it one last shot. They know it is their last shot, so I would expect bankruptcy if they don't get a producing well in the Utica of Ohio pretty soon.
You say they have had no successes since the company began in 1988. This is a misleading statement as the company has been reorganized since then and has had some success with their methane production in Wyoming. However, it wasn't enough to overcome the depressed price of natural gas over the past several years.
The Utica venture is probably their last chance at survival. My take is that we should hear something by the end of the year, if not any day now. Anybody holding this stock at the moment who has done any research at all is probably betting that FRNC ends up with a producing well.
Why do you dislike FNRC with such a vengence? Did you lose money on them by investing in them at some point? Or maybe they fired you and you are a disgruntled ex-employee. Tell us what your problem is. You would probably get some sympathy here.
Cropduster
