Compounded by a thin high print of $.021 when the VWAP was $.0179
12,113 shares ($254 worth) traded at $.021. The bulk of today's volume (401,103 shares - still a paltry $7,103) traded at $.0175. I very much doubt that anyone legitimate from the oil and gas industry is excited about a project that hasn't even been fully financed yet and has no real results so it would be interesting to know what "folks" are making inbound calls. The easy way to tell it is BS - no 8-K filed so it isn't material and he would rather not log it with the SEC.
Given that, there may be royalties but I am sure they will be paltry relative to the $800,000 invested in the royalty especially when discounting the royalties by the 110%+ funding cost that LEXG has to pay to do the death spiral converts. Plus you can tell he doesn't really know the oil industry as LEXG will not be making money on the spike in spot prices which are a reaction to MidEast tensions - there are no royalties yet so even if you believe there will be you should be looking at the longer dated futures price which is up $2.92 to $57.46 this year (for the 2019 futures) rather than the spot which is up $6.70 to $67.12.
This never made sense. Alex Walsh repeatedly says that this was needed to be self-funding but they could have used the $800,000 that they spent on the royalties to fund the business until SonCav (or Black box blockchain or whatever they are doing - think about what this business would entail - and why does it need to be on a blockchain rather than just on a centrally controlled database that is distributed on the web - another BS thing that makes no sense but uses whatever Alex thinks is the hot buzzword of the moment - lithium / waste disposal / energy / ICo / blockchain - ugh!)) worked without taking on oil price and exploration risk on a field in which all the energy and financial companies that could have had a much higher return (as they finance much much cheaper) wanted no part.
AI
