Basic Energy Services Inc. (fka BASXQ)

[littlejohn]

Timeline of Fraud committed against BASX Shareholders

by BASX Senior Managers, Directors,

Ascribe, NexTier, and CJWS...


02/03/2020, U.S. Declares Public
Health Emergency...

https://www.ajmc.com/view/a-timeline-of-covid19-developments-in-2020


03/06/2020, Oil close $41.57/barrel
and already down about 34% or $21/bbl.
from 01/06/2020...

Week of 03/09/2020 thru 03/13/2020
saw all out carnage in oil price
drop that accelerated...


https://www.barchart.com/futures/quotes/CLY00/interactive-chart


03/11/2020 8K Filing...announces
the deal closing on 03/09/2020 with

$59.4 million cash outlay for close...

59.4 million of SHAREHOLDER VALUE...

https://www.sec.gov/Archives/edgar/data/1109189/000110918920000030/a2020-3x108xkcove.htm

03/13/2020 10K filing, Management
attested to deal closing details...


https://www.sec.gov/ix?doc=/Archives/edgar/data/1109189/000110918920000059/bas-20191231.htm


03/27/2020 8K Filing, Covid response
notification to defrauded shareholders...


https://www.sec.gov/Archives/edgar/data/1109189/000110918920000073/a2020-3x268xkcovid19respon.htm


03/30/2020 8K Filing, Appoints

new directors from deal...


https://www.sec.gov/Archives/edgar/data/1109189/000110918920000075/a2020-3x278xkboardappointm.htm


05/12/2020 8K Filing, discusses Annual
Corporate Meeting of 05/06/2020 after
Fraud deal was already railroaded thru...


https://www.sec.gov/Archives/edgar/data/1109189/000110918920000081/a2020-5x108xkannualmeeting.htm


05/19/2020 8K/A Filing, NO Financials
on the Fraudulent Deal were ever filed
with regulatory filings...


https://www.sec.gov/Archives/edgar/data/1109189/000110918920000085/a2020-q18xka70day.htm

As a result of the Company’s
determination that the Transaction
is not significant,


Not considered significant,,,

$59.4 million cash out lay...

Oh, this gets worse...

06/29/2020 10Q filing...03/31/2020
period ending quarter including the
03/09/2020 deal info...


https://www.sec.gov/ix?doc=/Archives/edgar/data/1109189/000110918920000113/bas-20200331.htm

$59,350,000 cash paid out for

businesses, net of cash acquired
shown on the...

Consolidated Statement of Cash Flows


$97,115,000 Asset Impairment recorded

as a write down in the same quarter...

Consolidated Statement of Cash Flows

yes, it is in 10Q...

https://www.sec.gov/ix?doc=/Archives/edgar/data/1109189/000110918920000113/bas-20200331.htm


During a U.S. Declared Public Health

Emergency, the Parties involved transferred

$59,350,000 cash of Shareholder Reserves

to parties of a deal in a quarter

which saw $97,115,000 of Assets Impaired

as worthless to company...


BASX Shareholders should be able to

get a jury of 12 Average Citizens to

recognize the timeline and disturbing

destruction of Shareholder Value...


An Attorney that represents BASX

shareholders and files suit should

also Petition Bankruptcy Court for

a freeze of any Management Salaries

until litigation is settled...


No position held in BASX...


So we watch...LJ