Empire Energy Corporation Intl. (fka EEGC)

[BobSinCA]

Yes, I think you have the right guy per my parallel research.

But, what part of Mr. Villarreal's background is appropriate to raising finance for an oil exploration company in Tasmania, more so than the current chairman, Mr. Burnett?

Let's review what we know (please add or correct):

- Grand Monarch's sole objective is to be a reverse acquisition candidate, per their SEC filings. They are described as a 'shell company' on the AUFS website (see next item) and in their own SEC filings (previously referenced by myself).

- AUFS (owned by Mr. Villarreal) owns some of Grand Monarch, per the most recent Grand Monarch 10K; the AUFS website says that as of November, 2009, Grand Monarch was looking into buying AUFS, but nothing since.

11.17.2009 Grand Monarch Holdings, Inc. (GMHI) is currently in negotiations with AUFS for the acquisition of the company and all its assets including AUFS' Mortgage Banking Operation and Credit Card Approvals. GMHI is a shell company and intends to go public in the first quarter of 2010.

- The 'go public' didn't happen, although the overall market went up between November and Q1 2010 -- net, can't blame 'market conditions' during that period.

- I have not found financials on AUFS, but the referenced website says they were in the US residential financing business during the bubble ($500M in 2007, nothing claimed since).

- They self describe as a 'leading provider of FHA loans in over 12 states,' but no dollar volumes are provided to support that assertion.

Meanwhile, what is the price of this acquisition and how is EEGC going to finance it? And when will Mr. Villarreal become chairman? Another poster has suggested this is the back up plan for EEGC's future if oil exploration isn't going to happen. But frankly, I (and most posters here) invested in oil exploration, not in US residential housing financing and vanity credit card distribution.