Kingslake Energy Inc. (fka KGLJ)

[downsideup]

I don't see the same issues there as here... but, it is pinkie land and you never know. They try hard and often succeed in hiding those things that are what you need to be most concerned about...

Here, the assets were real, but it didn't matter since they never intended to have the assets or the value of them attach to a share... they just used investors $ to develop the assets for themselves, and then took them...

We still don't know what sort of a "deal" they made up with White, and the lack of any information probably tells you that there wasn't a deal... White likely just took them, claiming default... when the reality is that the developed wells were already paid for and belonged to KGLJ under the terms of their contract? Otherwise, if White opted out at a market price, Pagnum took the money and ran. I doubt that is what happened, since White tried to sell them again, while misrepresenting to the buyer that they had never belonged to anyone else.

I think now it is just a matter of waiting...