InvestorsHub Logo
Followers 1
Posts 542
Boards Moderated 0
Alias Born 05/21/2008

Re: Talc Moan post# 16338

Wednesday, 12/08/2010 1:47:55 PM

Wednesday, December 08, 2010 1:47:55 PM

Post# of 16569
As I had stated several times earlier this year. In 2008 with five start deal UPDV purchased 829 million shares from HTOG so that HTOG doesn't have to pay back loans back then. This represented 52% of HTOG. UPDV also purchased convertable bonds from HTOG, where once converted,UPDV will have 70% of the stock. When UPDV took over in 2008, they merged one of their other Oil Division into HTOG (I think it was Catlin Oil). Later that year they let go of all of HTOG Admin staffandthe admin staff of CNFU (anither UPDV Sub), in the intent of saving money, they would have UPDV take care of all admin work. In mean time UPDV stop funding Aztec Oil (an other sub) and this sub was forced to close its doors in earlier 2009. Also at this time CNFU was stealing Oil out of Mexico, was caught and officers were indited. Back in 2008 when UPDVtook over they stop giving news and also stoped filing 10Q for all of their companies. SEC investigated the non filing, issued papers for them to file, but those papers were returned to SEC because UPDV had moved. So SEC delisted UPDV. However UPDV still owns 52% of HTOG. In mean time, last time I saw HTOG official wb site (Which I no longer find), shortly after UPDV was delisted. The web site showed HTOG as the parent company and UPDV as a sub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.