Earthstone Energy Inc (ESTE)

[stylecounciler]

are you ready for your reverse split cram down?

what do you think management will choose to stuff their sharemolders with ? 5? 10? or worse?

how about the news that after all the hype, and the facts that Ray "kept the polls open" until he was able to force the vote and change all of the corporate by-laws that installed him for life,.... that now the news is he can;t change the symbol to match the snappy new name?

did these BSIC.OB boys not read the FINRA fine print when they were thinking thur a waste of time like a name change? changing the name does not produce a drop of product!.... once again,... what a royal f-up on managements part. one more time with feeling!

what a press release/SEC filing.... way to endure yourself with Federal regulators, Ray and company!

"we were infuriated to learn that their approval for our name change was not completed before their new policy took effect; numerous attempts to bring our pre-June 1st filing to the attention of staff and supervisors met with "government-employee-like" apathy and indifference. It would be an understatement to say we are displeased with FINRA's position concerning a trading symbol change."


*Investopedia explains Reverse Stock Split
For example, a 1-for-2 reverse split means you get half as many shares, but at twice the price. It's usually a bad sign if a company is forced to reverse split - firms do it to make their stock look more valuable when, in fact, nothing has changed. A company may also do a reverse split to avoid being delisted

http://www.investopedia.com/terms/r/reversesplit.asp



"Competition"

"The oil and gas industry is a highly competitive and speculative business. We encounter strong competition from major and independent oil companies in all phases of our operations. In this arena, we must compete with many companies having financial resources and technical staffs significantly larger than our own. Furthermore, having pursued an acquisition strategy for over a decade, we did not develop an in-house geologic or geophysical infrastructure, as have many of our competitors. Rather than incur the time and expense to develop in-house capability, we chose to enter joint ventures with other companies to accelerate our efforts. Competition is intense with respect to acquisitions and the purchase of large producing properties because of the limited capital resources available to us. As such, we have historically focused on smaller and/or marginal properties with behind-pipe potential in our acquisition efforts. Ultimately, our future success will depend on our ability to develop or acquire additional reserves at costs that allow us to remain competitive".

-Ray and BSIC.OB friends.