To expand your view point: USBO's press release states that they estimate that PHS Group's revenue can be expanded dramatically by simply increasing refinining capacity. It could be that the current PHS management is simply not interested in expanding their business?
Regardless, I will not get too excited until a definitive press release containing factual information instead of projections is released. I have seen way too many wishfull "news" releases in over two years and none came to fruition.
My opinions on USBO are as follows:
- I think this company is for real. If it was a scam, we would have seen a much higher authorized share count in the billions instead of the current 35 million or so. There would have been millions of shares traded daily and a sub-zero share price. They would have then initiated a reverse stock split, bought and/or merged with another shell company, changed their tickerand name and start all over again. This scenario is happening right now in penny-land many times over.
I was going to rave about why they did not release any financials until I checked in pinksheets.com. They released the financials on December 6th and 8th! They released the 2005 year end figures and a separate statement for Q1, Q2 and Q3 of 2006 as promised! Way to go! They are now in compliance again with the pinksheets.
To all concerned: check out the financials, let's re-group and provide any opinions!!
Thanks.
