Batting -- Reading PRs is not a strong forecaster of EEGC company performance. Go back for last three years, and see how many PR 'projections' have actually taken place.
You could argue that Mr. Bendall exercised his over-allotment privileges as committed, but if you dig deeper you will find he actually committed cash to that (LOC), but instead 'converted' some mysterious debt not found on the June 30 balance sheet.
If I can find the time, I will analyze all PRs I can find (caveat: EEGC does have a habit of moving some from their website; indeed, as of my most recent look prior to the recent website shutdown, the September 2010 PRs were not even posted).
Immediate 'interesting' ones I can think of, which have not occurred, are:
- Mr. Bendall's statement that a $50M LOC would be used for his execution of RO shares, including over-allotment.
- Flare gas technology distribution rights transfer from Mr. Bendall to EEGC.
- Hunt 'back to work' agreement.
- Sure Capital financing for oil and gas exploration, and flare gas technology commercialization (still could happen, to be sure; but almost three months later, no indication that due diligence has been successful, and IMO the conditions laid out in the Agreement (see 8-K) will be very difficult for EEGC to meet).
- Purchase of a credit card and waste management distribution business (could still happen; BUT, the company being bought, Grand Monarch Holdings, did not even own those businesses as of EEGC's announcement date -- and still doesn't, per SEC filings as of today).
Hopefully, the next PR will contain positive news about EEGC execution, not about intent
