If you have followed this company since the pre-Y2K years, you'll recall that the original equipment machine, the model that B.C. had tried to sell never did rightly function and actually process crude into the product for which it was intended. Last year, I was told that the mobile equipment unit the company had ordered and had been expecting had arrived. That is true, according to the most current verifications. The rest of the story is that, the "unit" was shipped and did arrive but with one very important missing internal part, the name of which has escaped the memory of those in the position to pass that kind of information on to shareholders.
I'm sure I recall this very same situation with the mobile unit B.C. had also been waiting for; it was missing just one important part that would be installed by the mechanic known as, "Pete", just as soon as it arrived in Charleston. Of course, it never arrived and it never was installed. I failed to ask whether this most current mobile unit might be or is that same mobile unit B.C. had out in his front yard but now I'm wondering if it is.
I was also told that, as of about a week and a half ago, management's intentions were to get some press releases out to update the current status of the company. This information should be available some time next week.
As for the Jerry Williams (Monk) situation, at this time no summons has been served requiring management to attend or appear. That meeting is still over two months away, leaving plenty of time for surprises.
I was told that management is meeting it's financial obligations due to receiving payments for downtime that are said to cover just about all of the costs incurred in the aftermath of the Wibaux, MT Michels facility explosion. The site has not been completely cleaned up, at this time. There is no production at all, at this time and has not been since the mishap. That means there has been no revenue from production and no pickup by Shell Trading.
I asked about current share structure, due to the 1 mm plus share trading of today. I was told there has been no change in share structure and it's the same as it was in 2011. I called attention to the most current share structure tally that I had received from Tom Curtis in Dec., '12. Mr. Taylor made note of the tally.
