Talked at length with Joe Christopher last night. I had sent a rather confrontational email to Bitters and JC phoned. Don't think Bitters actually sees these things.
Same old stuff, 'Wait' and 'Soon' and 'No chance to explain to shareholders until now'.
Said:
The shareholders didn't actually know diddeley about the Padgetts and the Nash-Murphy.
CB deserved 50-100% of the company. (!!!)
CB had increased value of company from $6M to $20M.
I told him my history of starting an offshore oil equipment/service company in Aberdeen, Scotland, and financing it with an 'overdraft facility' from a UK bank ('line of credit' on this side of the pond). He got a bit irritated, and said they had done something like that in the past, but would not consider a bank as the cost of money was too high.
That is pure Bulls**t. My starting interest rate was 16%.
If you can generate the income you can pay off the loan, and the Padgett and Nash-Murphy fields should do exactly that.
