Bayport International Holdings Inc. (BAYP)

[DragonBear]

Banksy pointed to an update, published one week ago:

The JV with JFK Oil Terminal seems especially to pay out for the companies related to the fack water treatment after exploring

Yeah that was a bute. We have ...

During the past months the company has entered into arrangements with various natural gas firms in adjacent counties to clean their frac water...

Mystery firms. Where the mystery firms when approach ask to tour the JFK facility and are told:

We have also entered into agreements with equipment manufacturers for both reverse osmosis and vapor compressors to be installed at the facility.

In another words you have firms committing to breaking their current contracts, and contracting with this JV which has no equipment set up to fulfill the contract. No experience or track record in this area. What's wrong with this picture? Would you as a CEO of a driller commit to such an arrangement sight unseen?

but we believe that the main issues of infrastructure and location ,that we already possess...

That's the most hilarious part. How exactly is the frac water suppose to get to the site, and then back to the pads for reuse? Infrastructure??? No, that's not the comedy. Here's a hint: Siemens claims to be providing such services at 200K sites. This JV claiming to have multiple clients, and 1 wonderful location. They are pumping stuff they don't even understand.

Note also how the article starts out with financing. They never reference that Form D do they? Rather it's just financing - where that could mean anything. What exactly did they say the cost would be for the equipment? That's right, they didn't.