Friday, June 22, 2012 1:35:47 PM
Barclay Lyon loaned PSRU and PDGO a ton of $$. Cedric took over as "CEO" of PSRU; and almost immediately announces that PSRU's "new" focus would be on Texas O&G (old focus was some goofy-sham CFL light bulb.) Then, Cedric announces a "JV" with PDGO (Mr. Kennedy.) Note: Cedric and Kennedy went to the same college in Canada (York U.) Nothing was ever real there (a typical pinkie-sham transaction.)
In mid-May 2012, PSRU (Cedric) sells 100% of PSRU shares and 70% of its "secured debt" to YTRV (where Cedric is also the "CEO.") for utterly worthless stock. Note: YTRV was trading at +/- 0.50/share then . . . now +/- 0.03/share.)
Now YTRV announces a "BIG" move into Texas O&G!
A common thread Barclay Lyon held a huge amount of PSRU secured debt. And it held PDGO debt too (Managing Director: Todd Violette.) Kennedy "leaves." And, Violette is now the new CEO of dear ole PDGO AND LHPT!
Quite a deal they have rolling along amongst themselves.
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