R/S to .05. Get S-1 approved. Report an "expected" 150bpd after this and that (more work/pressure/time needed). Dilution will happen but VERY controlled so as not to spook investors. Two months later(Sept) the results will be at 45bpd MAX BUT the next rework is already underway with an "expected" 100bpd...still on track to be profitable by year end and a focus on "shareholder value." Same thing over and over until people get wise then sp will tank to .01 or below (likely below). At this point the O/S will be at 500M with total production at 150bpd by year end...correlating to $5M in revenue on a yearly basis. Unfortunately, with 500M shares outstanding the sp will be where it should be @ $0.01.
The only people who will make money are insiders and lucky flippers riding the 10-20% ups and downs through 2014.
As expensive as this process is...there will not be enough cash on hand to support repressurization of existing leases and true to form FS will buy additional leases he can't afford with no way other than toxic financing to pay for it.
This is a complete cluster...and it didn't have to be. A friend of mine who is also invested here said "Floyd's plan is similar to McDonalds IF Mickey D's decided on global expansion before they every sold the first hamburger." That is how ridiculous this business plan is. If there was ANY CONCERN about shareholder value FS would have slowed down...focused..and used Simons production to fund the next lease and then step by step brought wells online using cash onhand. Instead he printed shares to fund a grand scheme of world conquest which included 6B in the month the website was down. TO ME...this one act was the ultimate in deception. Why? Because with 6B shares diluted at an avg of say $.0004 = $2.5M in cash. With that...why do they need to dilute ONE MORE PENNY??? Where did this cash go? If we need $3.5M just to "start the process" of repressurization on one lease then boys and girls we are SCREWED! This means we are so capital intensive that it will take forever for the daily production to fund even one lease at the pace FS is trying to move...which in the end can only lead to more and more dilution. With no S-1 we all know what this means.
The only thing left to hang onto is the old saying that "the difference between genius and insanity is but that of a hair."
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