That's a HUGE discount, unbelievable ...
... well, not unbelievable, they keep on doing stuff like that. Amazing.
Warrants to potentially buy at discounts for YEARS too.
How many millions of shares did THAT just add to the ever increasing diluted pile of outstanding shares TIV has been foisting off on shareholders?
And I agree, Mr. Specialist helps boost the PPS up so these favored few can dump those shares right away at a tidy profit ... annualize THAT percentage return and see what you get lol.
It gets better...
"Tri-Valley also announced that it has recently completed the $700,000 cash sale of a surplus steam generator, with a rated heating capacity of 50 million British thermal units per hour, which had been refurbished by its Great Valley Production Services subsidiary."
Wow, if they're steaming the h--- out of everything and producing oil from tar sands, how could a great steam generator like that be SURPLUS?
"In addition, Tri-Valley is negotiating the sale of its South Belridge and Shields-Arms leases."
Say what? The magnificent cash cow Temblor oil fields up for sale? The fields where TIV was supposed to be putting in cookie-cutter wells well after well after well and pumping out those millions of barrels that are surely, or maybe just 'possibly', under there somewhere?
"Based on a multiple of current annual net cash flow, the Company expects that the leases could generate an aggregate sales price of between $2.5 and $4.0 million."
How does that compare with what the company paid for them plus what the company sank into them? Used to be a time when I'd bother to dig it out and compare, but I waste precious little time on this particular POP (piece of puffery) called TIV these days.
"However, the actual sales proceeds could vary due to a number of contingencies including, but not limited to, changes in oil and gas prices, future operating results or changes in reserve estimates."
Yeah, I'm sure there are a host of 'contingencies' which could 'possibly' result in the magnificent South Belridge / Temblor oil fields being sold at even lesser amounts.
Man I love this company lol, ALWAYS good for a hearty chuckle.
JMHO
jonesie
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
