Polar Petroleum Corp. (POLR)

[DragonBear]

To be straight I really don't care what

they did or if they even did anything wrong

You should care. If this were say Exxon, and the CEO had violated securities laws for his own profit what would happen? He would be fired, have to disgorge ill begotten gains, and fined by the SEC as he was run out of the market. The company would be fined for lack of proper oversight, and then life would go on. How does POLR survive having its one and only employee Walker run out of the market?

Didn't the CEO tell you the company was dependent on selling stock to raise capital in its last 10Q? Didn't he tell you there is a $746K accumulated deficit? Didn't he tell you future annual lease payments averaged $200K+, and long term debt would be at least $1.85M by 2015?

You have a company which in the past sold stock to the market to pay for its operating expenses, and past debt notes. It no longer has that capability. There is a high probability the entire suspension was about stock issuance. It's to be questioned whether the SEC would allow the company to keep issuing stock, while being under a formal investigation. It's just another reason why these microcaps suspended don't survive after a suspension. Their entire existence depends on being able to sell stock to the market.

but what they have... Theres only one thing i am concearned and we will find out in time...

What they have are the leases that no big, mid, or even small cap oil company wanted. My guess is long before POLR, long before Cade and friend arrived, one of the large oil companies did a quick 2D seismic, and found the geology showing no promise. Else they would have jumped on it decades ago. No, I have no interest in digging through the last 20 yrs of seismic reports generated by all adjacent past and present owners to the POLR leases.

Along comes the twosome from Texas who bought the leases from ... whoever. They either find Walker or he finds them. Either way the twosome get what they want - a lease agreement, and money. Walker now has something to peddle to the market - stock in a start up oil company. Didn't matter if he went through the motions and actually drilled dry holes one after another. While it lasts Walker gets a salary, while selling more stock to the market. Only problem is he ran afoul of the SEC early on.