I don't believe Pinedo is doing ANYTHING to help retail investors.
A letter of intent means very little when it comes from a person/company with a very poor history of execution. A few questions/concerns.
1. If Pinedo has access to this kind of money...$175 million ???, why has he let the current leases he acquired from PGPM go down the toilet?
2. Why are essentially all of the wells/leases acquired from PGPM red tagged and in a state of financial penalty through the RRC?
2. Why hasn't Pinedo performed his fiduciary responsibilities according to ARCLAND ENERGY Bylaws and Code of Business Conduct and Ethics?
3. Why hasn't Pinedo made a concerted effort to create a profit by either selling, subletting, or partnering with another company to exploit the value (based on the Gustafson Report) of the leases.
4. Why has not Pinedo made an effort to MAKE PAYMENT to PGPM based on the agrement to obtain the leases, or returned them by defaulting on said payment?
just rambling...comments...ideas...concerns...bring'em on.
a few more things
From TEXAS SOS
Entity Information: ARCLAND ENERGY CORPORATION
17101 PRESTON RD STE 210
DALLAS, TX 75248-1369
Status: NOT IN GOOD STANDING
Registered Agent: BULLOCH, DUPERTUIS, SEGER & CO., PC
17101 PRESTON ROAD SUITE 210
DALLAS, TX 75248
Registered Agent Resignation Date:
State of Formation: UT
File Number: 0047089080
SOS Registration Date: Not Registered
Taxpayer Number: 32037545418
*******************************************************
From UTAH SOS
ARCLAND ENERGY CORPORATION
Entity Number: 7085520-0111
Company Type: Business Name Reservation
Address: 17101 PRESTON RD STE 210 Dallas, TX 75248
State of Origin:
Applicant
Applicant Name:
Name Reservation
Status: Expired
Status: Expired as of 12/08/2008
Status Description: Failure to File Renewal
Employment Verification: Not Registered with Verify Utah
************************************************************
ARCLAND ENERGY CORPORATION
Entity Number: 763770-0142
Company Type: Corporation - Domestic - Profit
Address: 20-30 47TH STREET SECOND FLOOR ASTORIA, NY 11105
State of Origin: UT
Registered Agent: CT CORPORATION SYSTEM
Registered Agent Address:
136 E SOUTH TEMPLE STE 2100 Salt Lake City UT 84111
Status: Expired
Status: Expired as of 07/06/2009
Status Description: Failure to File Renewal
Employment Verification: Not Registered with Verify Utah
