hehehe...jsc
Welcome to the group...Patch is a "wanna be" oil company who WAS a drug company.
But they used to be and still are involved in a drug company called Pharmaxis (PXS: Australian Stock Exchange) where it is the company's second largest shareholder with 11.2 million restricted shares. Others include CIBC, HSBC, and the Rothschild Group. Patch is involved in oil and gas projects in Saskatchewan, Texas, and the East Corning area in Northern California.
The CEO, David Stadnyk, is a pro at playing the shareholders of these little OTC oil/gas companies with fluff and puff PR's and getting them "trapped" into the stocks at a higher PPS.
If you do take a position, Be careful...ride it HARD, and set an exit point and stick with it.
A good example of hoe he works the system is what just happened at another company he's in control of..FRCD..Just announced a 1 for 25 R/S.
Only they are calling it a 25 for 1 CONSOLIDATION !!
In connection with the reorganization of the Company, shareholders will be asked to approve a 25 for 1 consolidation of the Company's issued share capital at a meeting of shareholders scheduled for December 31, 2004 in Vancouver, British Columbia.
rpt
