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Re: Don post# 47479

Thursday, 12/01/2016 4:46:23 PM

Thursday, December 01, 2016 4:46:23 PM

Post# of 60104
Worse yet it is a recycled PR from the past, this scam cannot come up with anything new. The morons should read their own bullshit filings, according to their own 10K filed to the SEC on EDGAR:

In February 2013, the Company acquired a 28% Working Interest in the Grand Chenier oil and gas prospect in Louisiana.  The property contains an estimate 9.0 million barrels of oil and was in production until approximately 2009 when the then operator failed to manage the interests and certain repairs were not made leading to the cessation of production.  The Company believes that with approximately $2.0 million in capital, the field can be returned to production and additional wells within the prospect can then be brought online increasing production to a profitable level.

In November 2014, the Company returned the working interest in the Grand Chenier oil and gas prospect to the original holders due to its failure to raise the capital required to “work over” the existing wells.
 
Simultaneously with divesting the Grand Chenier prospect, the Company entered into negotiations to acquire Vitall, Inc. and was renamed CaerVision Global, Inc., and closed on this deal in January 2015.  The newly renamed Company had 60 days to close on a minimum $500,000 in debt or equity financing to support the new direction.  When this was not achieved, the prior owner invoked a rescission clause and terminated the deal.



THEY OWN NOTHING AT ALL...

https://www.sec.gov/Archives/edgar/data/1427644/000142764415000018/f10kcaervision113014.htm



February 28, 2013 @ 8:47AM (End of QTR)
NEWS:
Sungro Minerals - announced today that it has acquired a twenty eight percent (28%) interest in the Grande Chenier Field in Cameron Parish, LA from Sigma Gamma Interests, LLC. The interest was acquired for $2.0 million. The property, which was evaluated by Netherland, Sewell & Associates, Inc. a worldwide petroleum consultant, has an estimated net present value in excess of $100 million dollars with proven reserves in excess of $8.0 million.
http://ih.advfn.com/p.php?pid=nmona&article=56503155&symbol=SUGO

WARWICK – Sungro Minerals Inc. has acquired a 28 percent interest in “proven reserves” of oil and gas valued at more than $8 million in the Grand Chenier Gas Field from Sigma Gamma Interests LLC for $2 million, the company announced Thursday.

As a result of the deal, company executives expect to achieve profitability and see positive cash flow by March 1 of its second quarter, Sungro’s Chief Financial Officer Erwin Vahlsing Jr. said in prepared remarks. The company also expects to acquire sole management of production within the next few weeks, and as the Operator of Record, will handle resource extraction and financial relations with shared interests in the gas field.