Monday, May 30, 2016 1:10:05 AM
You have stated several times what you think happened and I have shown you to be wrong.
Breitling has not been a public company for five years as you have falsely claimed and it existed for about ten years before going public, not the six or eight that you incorrectly stated.
Just the fact that you stated "six or eight" years demonstrates that you didn’t know and were just guessing.
Let me help you out.
Breitling Oil and Gas was originally formed in the State of Oklahoma on Oct. 15th 2004.
Breitling Oil and Gas officially became a public company as Breitling Energy in January 2014. These are undisputable facts that I thought we all agreed upon until your post saying the corporation ironically failed to find oil as BERX.
Breitling Energy didn’t trade under the ticker symbol BERX, Bering Exploration did.
A completely different company, with different officers and employees that had no prior connection to Breitling.
As for your claim that Faulkner looked for a burned out corporation to merge with, I believe we are talking in circles again.
As I said before, Bering Exploration was a struggling company with a decent share structure and public float, with assets and liabilities that may have been advantageous to Breitling as they went public.
Some of those assets may have had development potential, while some of those losses and liabilities may have provided some tax advantages to offset Breitling’s revenue going forward.
The equity that Faulkner was willing to give up in the newly trading public BECC, could’ve have been largely offset in what he gained from Bering.
In hindsight, it actually looks like a strategic move that would have beneficial to everyone. Nothing about the process Faulkner used to go public looks malicious to me as many continue to claim.
It would have actually been easier for Faulkner to find a burned out, abandoned shell corporation with a maxed out A/S, O/S and public float, done a massive R/S split wiping out everyone and starting fresh.
He didn’t do that. He was conservative and tried to do the right thing for everyone involved, including the shareholders of BERX.
Hope that helps.
LOL, IMO and FWIW.
Breitling has not been a public company for five years as you have falsely claimed and it existed for about ten years before going public, not the six or eight that you incorrectly stated.
Just the fact that you stated "six or eight" years demonstrates that you didn’t know and were just guessing.
Let me help you out.
Breitling Oil and Gas was originally formed in the State of Oklahoma on Oct. 15th 2004.
Breitling Oil and Gas officially became a public company as Breitling Energy in January 2014. These are undisputable facts that I thought we all agreed upon until your post saying the corporation ironically failed to find oil as BERX.
Breitling Energy didn’t trade under the ticker symbol BERX, Bering Exploration did.
A completely different company, with different officers and employees that had no prior connection to Breitling.
As for your claim that Faulkner looked for a burned out corporation to merge with, I believe we are talking in circles again.
As I said before, Bering Exploration was a struggling company with a decent share structure and public float, with assets and liabilities that may have been advantageous to Breitling as they went public.
Some of those assets may have had development potential, while some of those losses and liabilities may have provided some tax advantages to offset Breitling’s revenue going forward.
The equity that Faulkner was willing to give up in the newly trading public BECC, could’ve have been largely offset in what he gained from Bering.
In hindsight, it actually looks like a strategic move that would have beneficial to everyone. Nothing about the process Faulkner used to go public looks malicious to me as many continue to claim.
It would have actually been easier for Faulkner to find a burned out, abandoned shell corporation with a maxed out A/S, O/S and public float, done a massive R/S split wiping out everyone and starting fresh.
He didn’t do that. He was conservative and tried to do the right thing for everyone involved, including the shareholders of BERX.
Hope that helps.
LOL, IMO and FWIW.
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