Probably because it will take months to settle any of them. If all those settlements take months, price could drift down while lawyers are billing for hundreds of hours of "negotiations and bickering". The lawyers will be the ones to win in the end!
T,Give me your thoughts on this one BDGR. How did I miss the vol. spike????????
Great earnings and stellar projections,bad side it is a pinkie,share count states as following,I have a call into the CEO Outstanding Shares: 9,657,000 as of 2005-07-20
Estimated Market Cap: Not Available Authorized Shares: 25,000,000 as of 2005-01-01 Float: 2,390,000 as of 2005-06-05
This from recent release Mr. Rick Michael, President of Black Dragon stated, "Our recently released reserve report and report by Red Chip Companies have both confirmed our asset base and revenue potential. We are gratified by our results for 2005 and expect this momentum to continue into 2006. We believe that our revenue goal for 2006 of approximately $14 million is highly achievable."
"The analysis report by Red Chip is conservative in light of the recently released engineering report showing 66 million barrels of oil in proven recoverable reserves. 66 million barrels is in excess of 2 barrels per outstanding share. This does not include our Caddo Lake bed property, further commented Mr. Michael." http://biz.yahoo.com/bw/060403/20060403005953.html?.v=1
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