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Thanks you Randy for your hard work at

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biztech   Monday, 08/31/15 08:31:18 PM
Re: None
Post # of 712 
Thanks you Randy for your hard work at trying to build shareholder value! Market volatility and commodity decline killed our chances to see Armada become a high-growth entreprise not your lack of leadership vision and experience!

Folks, Randy didn't give less than 100% of his effort and was the biggest loser (time and his shares).

I am not selling my shares at this point. At this point, why do that? Give some shortseller a cheap way out? Nope, they can pay .009 like what happened today for 50k at end of day.

For many of you traders, time to move on...i saw the volume one person sold out or maybe two small holders.

The value remains and I'm holding out for a unique scenario that may unfold--I am not living in denial! I consider this a loss now.

However, properties were just purchased for $6 million before crash. Surely, that could cover the debt. Then what about the well? I would expect more than a million for the almost $6 million it cost.

The only concern I have is the honesty in dealings from court-appointed trustee and any other unscrupulous actors in picking up the assets.

Randy did his best, the deadline neared to drill wells on anadarko farm out and it didn't happen.

Only silver lining (I know you don't want to hear it--but remember stock was already at .01) that the lease is not void due to BK filing so anadarko has a choice...let trustee sell the lease to get some money back and have someone come in and complete the well and extract value. If anadarko does nothing or says no, then you have armada property sitting there wasted which cost too much money to forget.

Maybe a gambler comes in and buys the well with the risk of not being able to do anything to it because they can't own the mineral rights...

This is a very interesting lessons learned to me and I consider this education in the oil business during these tough times. Randy was on track to build a good company but he hit some bad luck no one could foresee.

Good luck all, please chime in on your thoughts of Chapter 7. I nkow usually nothing and chapter 11 usually nothing but they didn't go chapter 11...business had to stop couldn't make money anymore...contracts with creditors stop...only owe would they owed to the date of filing...could be something.

--possibly more than 500k in value right? also, how much would a trustee cost each month?

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