Everybody, take a deep breath!
I can't imagine anyone here seriously believed that this stock would be headed to even a penny any time soon. Hmm Lets see here what have we all invested in:
A company in serious DEBT, A ton of outstanding diluted shares, and very little real revenue, and VC's that pulled out but standing at the door with a knife at our throats until they can be paid back.
We all chose to stay in because the stock is selling at a FRACTION OF A PENNY!!! so
this is nothing more than a gamble, a lottery ticket which never dies unless the company does.
I have known Raley for the past 2 years. I've drank with him, & I've broken bread with him, and I can tell you this. He is no dummy. He is a smart, and wealthy man & his losses here are minimal. The 300k that he has at stake here is nothing compared to his personal net worth. The buyout of his contract when he exited Progress Energy took care of him & his family for life. I can tell you that he is in this to figure a way out. he is no huckster EVEN IF THIS SHIP TANKS. In life there are no promises, and like the rest of you, I have spent plenty of time daydreaming about what I would do when the millions of shares that I own when I cash them in when this stock gets to my sell number. I think we all spend way way way too much time obsessing on that with these sub penny stocks.
So why did I buy into this boondoggle if I think all of this? Simple. I had friends who were buying 10K in shares when the price was 2.20 a share. I met & got to know the Raley, who is a bit of a squirrel, but he is smart as a whip and could sell a born again christian porn on Sunday. Hearing what I heard, I felt it was worth the risk at the right time. I then watched the stock dropping like stone, & I watched the stock go down to the basement & then I bought millions of shares which was an easy bet at 0.0001. (I spend more on a trip to Vegas and usually come home without a commercial worthy experience).
Remember, there is REVENUE (albeit not large but there re active wells), & Raley could just walk away and dump the stock & burns everyone's ass/ets if he wanted to. Yes he's running through the maze doing what he can to keep the ball in play. Throwing cr$% at him won't help. It really won't.
As long as production continues and he finds capital investment, and more revenue from leases that need to be drilled, this company can make it, but it will take YEARS to get there. That is the difference between an INVESTOR and a TRADER. There are traders on this board who think they are investors. My bet is if the company is around in 2 years, we will be .25 a share, and I'm a happy. Save your anger and wrinkles for your kids or your spouse..
AI
