Findit Inc. (FDIT)

[mcmike]

ACKO

I also received the "Murdoch" glossy and, because of all the oil&gas frenzy, decided to check it out.

Last SEC filing:
no revenues
meager assets

undefined working interest in 1 well that Holyfield Oil is working

option to obtain working interests in 5 other wells:
"
( a ) Plan of Operation for the next twelve months . Our plan of operation is substantially changed from our annual report for the year ended December 31, 2003, and our previous quarterly report for the period ending June 30, 2004. Austin Chalk Oil and Gas, Ltd. is actively pursuing that new business plan to engage in the oil and gas development of existing wells and new properties.

On or about July 8, 2004, the Company entered into agreement to acquire a working interest in a horizontally drilled oil and gas well in the Giddings Field of the Austin Chalk Trend in South Central Texas. The well is being drilled by Holifield Oil Company which is owned and operated by Ray Holifield. Over the past three decades, Ray Holifield has drilled almost 25% of the 9,000 wells in the five-county areas that Giddings Field encompasses. He has collected an extensive database of geological and engineering records on Giddings Field at a cost of approximately 10 million dollars ($10,000,000).


In the early 1970's, Mr. Holifield was associated with D.R. McCord and Associates, a pioneer in using computers for oil field modeling and simulation. While working for McCord in the Middle East, Mr. Holifield developed innovative techniques in Giddings Field, which enabled him to quickly identify fractures and faults containing hydrocarbons. In Lee County Texas alone, he has used this seismic data to drill 647 vertical wells. Many began production at more than a thousand barrels of oil per day. Overall, these 647 wells averaged 147,902 barrels oil equivalent - a production rate 4.7 times greater than the average of all other operators in the same area.

The Company, has obtained an option to participate in the next five wells to be drilled by Holifield Oil.

( b ) Discussion and Analysis of Financial Condition and Results of Operations . We have enjoyed no revenues during the periods covered by this report or corresponding periods during the previous fiscal year. "

This company has no direct relationship to the revenues of Holyfield Oil that I can see. Nor does it appear that Holyfield Oil has any direct relationship with ACKO other than letting them have "contracts"? for participation in 5 wells that have already been mostly played out, but can now be reworked profitably.

You posted a P&F chart for the ticker symbol, but the company is a reorg out of something called Knowledge Networks or KNW Networks which may or may not have been real..Marlen Roepke, one of 2 identified officers in ACKO, was a principal in the previous incarnated company.

Even though the company had nothing happening last fall, they had to file for an extension of the 10Q because they were "busy travelling"

My price target for ACKO is under .30 and soon.
I'm frankly amazed....set me straight if i am off base and point me to any verifiable info.

Their own website refers to a news release about their participation in an inflated stock price, but I haven't seen that news release.

base on the diminishing size of the white candles i'd say this play is just about kaput.

good luck