Black Dragon Resource Companies Inc (BDGR)

[swordchaser]

The big question is what is the "set price". Lanza can just vote or issue more shares for the 115mil. He gets all the proceeds and you get nothing. If they needed shares in anticipation of this don't you think they would of bought all these "cheap" shares over the past 2 months. Now think about it and read my prior post as to what the real value of this company is irrespective of the outstanding shares. Look at what SNG paid for Seeker "1200bbls/day and future drilling prospects. The same as Black Dragon has or should I say with a large dose of reality "Not Verifiable but probable". Black D does not have anywhere near 1200bbls/day and their net is pretty poor. Also one more thought. Do you think Lanza will give up his overriding interests-I Think Not-Those are like dividend's to him-probably help pay for all the oxygen he uses!! So payback will take a lifetime for our mystery loaner!!!! These stripper wells cost a ton to get just a barrel out of. You will need thousands of wells just to get to our long promised 3k barrels/month. Ain't going to happen!!! The loans will have to be paid back first! One thing I have learned is make sure you know the debt levels of the companys your invested in. I got burned in El Paso -great company with a ton of assets but mega debt that killed them. They had to sell of most of the company to pay off the debt. So dont forget about our debtors who want to loan us 100mil. You will be the last to collect when the bills come due!!!