Sixty Six Oilfield Services Inc (SSOF)

[wadirum1]

Don Keer is claiming over $1M in "deferred salary." WTF? That's beyond ridiculous. It is half of the whopping $2M in debt the company has run up.

They are completely insolvent.

So, the market cap is $300K, which is where I would like to be buying shares. But $2M in debt? And nothing to show for having take on all of that debt? The enterprise value is NEGATIVE $1.6M. LOL!

And how about the $600K in debt that was "settled" a while back? Was somebody legit owed $600K and they just accepted nothing as payment? Nobody does actual business that way -- walking away from $600K that they were owed. Why was that debt on the books, and how exactly was it "settled." LOL

And what is up with those new debts? That is how Bland used to do things around here. Big debts would materialize out of nowhere, with no corresponding asset to show. Then the lawyer Morris would settle the debts with unrestricted shares (his company is or was "Rule 144 Solutions"). So, he'd get around the restricted shares problem. I wonder if this will happen again?

I used to understand Bland's deal, and I could make money buying low and selling a good bit higher. $0.0004 seems attractive. But that $2M in debt is a deal-breaker. Plus, I can't yet tell what their play will be here. Quite the bewildering sequence of shell transactions!