ucant
I appreciate the diligence you have brought to the board and the excitement it has caused.
Regarding this;
"I love this stock more than ever right now."
Please do not, fall in love with this or any other stock. A stock is an investment vehicle. By falling in love with a stock your diligence efforts become biased to the positive side. (I am not saying your report is biased)
Regarding this;
"When I ran the numbers on the oil wells we should have went to around .80 cents or so,"
At .80 a share this company would be worth $267M pre-conversion. I really don't think you can justify a $267M valuation even without any debt. Barely any sales, little capital to move forward with, etc. I would enjoy seeing more details on your numbers.
Also bear in mind that they are going to be doing fund-raising. The fund-raising will result in issuing lots more shares.
Just over the past few months the company sold stock at .01 to .02 a share:
"In November 2009, 1,500,000 common shares were sold to an entity 25% owned by Mr. Wirtz and 50% owned by former management or board members for $30,000 in cash proceeds to the company."
"During October, 2009, Mr. Wittenburg, a former officer and director acquired 5,000,000 shares of our restricted common stock in consideration of $50,000."
"During October, 2009, Mr. Dillon, a former officer and director acquired 3,500,000 shares of our restricted common stock in consideration of $35,000."
If they raise another 2M at .02 a share they will need to issue 100M more shares.
I agree the company is way better off than it was 3 months ago.
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