Biocentric Energy Holdings, Inc. (BEHL)

[Gofertrder]

BEHL Mortgaged to the Hilt!

I just read the Q2 Financials!

Please refer to my posts: 95167,95175,96020 and 96013
and you'll better understand what I'm talking about here! (Just type in the Post # and click enter and you'll be directed to it here on IHub)!
Then look at the financials posted on Pink Sheets regarding Q2 report!Read it through with notes.

I have suggested a scenario in my 1st post which fits to a tee the facts of what is taking place with BEHL. I've also referred to outstanding debts that had not ever been declared to cover operations which now are some $750k.

So, Please note!
1. Namely, they are $750k in debt secured by shares and Notes on Demand!
2. They are considering in Sept 2010 to issue a series C shares for $6,500,000 (at current share prices that will be 2.826 Billion shares ...That will more than triple the shares outstanding.
3. Along with those shares and paying off the debt the company will have raised a net of $5.8 million after Dennis collecting back money and settlement of on going debt (burn rate approx. $150k per month) BEHL will be in a position for Dennis to exit in January.
4. BEHL's Market Cap was misstated in the Financials it is $2.100,000 today they lost $3.9 million in just three months.
Brace your selves shareholders there's more to come on Thursday with another fluff announcement. The plays afoot!

This is perhaps Dennis's exit strategy. But perhaps, I'm wrong and only some of this is coming to fruition? Mongolian Oil looks good to me! (I thought we weren't going into the oil business!) What about those cash flows being taken care of with that LOI? and No Indian contract in sight or mentioned!

This not a negative post as much as it is an explanation of the state of affairs of BEHL!

In My Opinion and as I see it!