From the latest newsletter.
Addressing Questions: Finances, Financials and Shares
We have heard from many of you regarding how we are financing the company given the lack of working capital and revenue. Indeed, the lack of capital has been duly noted in the recently updated financials that have been posted to Pinksheets.com, as a step in making the company a current information provider with Pink OTC Markets Inc. We wanted shareholders to know where the money has come from for things as varied as the payment of filings to the initial capital to help us begin reworking wells in the Crows Run Oil and Gas Field. These funds have been provided out of pocket by President Brandon Toth and his financial partners, these are loans and will be repaid after the company has found a more stable footing.
Mr. Toth and his financial partners have been providing funds for everything that keeps a small company functioning. They have provided funds for the salaries of talented individuals such as our new Chief Legal Officer, Shelby Clark. Mr. Toth will continue to provide these funds until the company is in a position to provide them. While this is a precarious position for a company to be in, the amount of talent, stockholder interest and hard work that Titan, in the hands of Brandon Toth, has been able to draw and depend on has been essential in helping us make it this far in turning the corner.
Management has been notified that there is an investment group accumulating stock to obtain a control position in the float. Of the 750m shares which remains the amount of authorized shares, Titan management, after close review of the stockholder list, has identified 225M of these shares in friendly hands; a term used for shares that are held by members with no intentions of selling. In the weeks to come we will be in contact with these investors and updating the amount of shares being held to gain a better idea of how many shares are actually available.
