Couldn't disagree more. XNRG CEO Jerry Mikolajczyk has the shareholders interest in mind as he moves the company toward profitability.
Takes time to answer intellectual questions from shareholders on the company forum like this one today for which I would like to personally thank him for taking the time to explain things to the shareholder asking the question:
#10 Posted : about 6 hours ago
Question #3:If Xun is successful in purchasing the jet fuel from the supplier, how does the process work for Xun to sell to a buyer in general?
Response #3:Based on demands and requests for jet fuel FOB Rotterdam, the demand ranges from 30 to 40 million barrels per month of jet fuel. Once we can provide POP to the Major (airline, end user), the transaction can close within 36 to 72 hours. It is a very simple process of providing POP and a pro forma invoice. The End Buyer will complete their inspection and tests of the product and upon acceptance, request the Commercial Invoice (CI) and then wire the funds to the designated bank to receive the funds. After payment for the product, title is transferred to the End Buyer. The funds received by the designated bank are then disbursed first to the funder that provided the funding to purchase the product from our supplier and then the profits are distributed to the various parties per the joint venture agreement or profit sharing agreements.
Question #4:If Xun is successful in completing the acquisition and sale of jet fuel, are the subsequent lifts (if we have financing) going to be going through the same process?
Response #4:In the physical commodity trade industry, there are usually two types of transactions, SPOT (single order) or SUPPLY CONTRACT.
A Spot is a single or one time transaction.
A supply contract is usually for 12 or 13 months and may have a condition for Rolls and Extensions. A 12 month contract is a specific amount to be delivered each month over the 12 months. A 13 month contract usually starts out with a trial first month (trial lift) followed by a 12 month contract. The trial lift may be a small amount, usually one ship load to test the procedures and confirm the supply of the product for the Buyer and confirm proof of financial capacity of the Buyer to the Seller. Once the trial lift is successfully completed, the 12 month supply contract kicks in. Depending on the form of delivery, the monthly quantity and the point of title transfer, the monthly quantity may be delivered by several shipments during the month. Example: With Jet Fuel, a typical supply contract would be 61 million barrels over 13 months with 1 million barrels being the trial lift and then monthly delivery of 5 million barrels. The monthly delivery of 5 million barrels may consist of 5 x 1 million shipments of jet fuel. Each shipment would consist of replicating the procedure used in the trial lift and would count as an individual transaction or sale.[/I]
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The statements contained in this post may not be historical fact, are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The forward-looking statements contained herein are based on current expectations that involve a number of risks and uncertainties. These statements can be identified by the use of forward-looking terminology such as “believes,” expects,” “may,” “will,” “should,” "projects" or “anticipates,” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. The Company wishes to caution the reader that its forward-looking statements that are historical facts are only predictions. No assurances can be given that the future results indicated, whether expressed or implied, will be achieved. While sometimes presented with numerical specificity, these projections and other forward-looking statements are based upon a variety of assumptions relating to the business of the Company, which, although considered reasonable by the Company, may not be realized. Because of the number and range of assumptions underlying the Company’s forward-looking statements, many of which are subject to significant uncertainties and contingencies that are beyond the reasonable control of the Company, some of the assumptions inevitably will not materialize, and unanticipated events and circumstances may occur subsequent to the date of this report. These forward-looking statements are based on current expectations and the Company assumes no obligation to update this information. Therefore, the actual experience of the Company and the results achieved during the period covered by any particular forward-looking statements may differ substantially from those projected. Consequently, the inclusion of forward-looking statements should not be regarded as a representation by the Company or any other person that these estimates and projections will be realized. The Company’s actual results may vary materially. There can be no assurance that any of these expectations will be realized or that any of the forward-looking statements contained herein will prove to be accurate. There is no guarantee that the Company will close on the financing or close on the acquisition of the producing oil and gas leases.
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