Tuesday, January 24, 2006 4:27:28 PM
According to the latest 2nd quarter report of 2005, the Net loss available to common stockholders is going down.
I guess you can say this is good but will they be able to sell enough oil (the price of oil is not dropping anytime soon)
to get rid of the death spiral financing?
They have over 4million in convertible debentures and are paying interest on this:
As of September 30, 2005, interest of $552,054 has accrued on all of the
convertible debentures and is included in current liabilities.
During the six months ended September 30, 2005, convertible debentures in the principal
amount of $201,955 were converted into 18,600,000 shares of common stock at the election of the holder.
At this rate we will be very diluted in a short period of time.
They can't lower their expenses (oil) and this winter(2005-2006) is warmer than usual.
Any thoughts?
I guess you can say this is good but will they be able to sell enough oil (the price of oil is not dropping anytime soon)
to get rid of the death spiral financing?
They have over 4million in convertible debentures and are paying interest on this:
As of September 30, 2005, interest of $552,054 has accrued on all of the
convertible debentures and is included in current liabilities.
During the six months ended September 30, 2005, convertible debentures in the principal
amount of $201,955 were converted into 18,600,000 shares of common stock at the election of the holder.
At this rate we will be very diluted in a short period of time.
They can't lower their expenses (oil) and this winter(2005-2006) is warmer than usual.
Any thoughts?
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
