Replies to post #3363 on Breitling Energy Corp fka BECC

[FM II]

OK, I'll waste a bit of time backing it up. I didn't know I had to document the obvious.

"...advisers and management, concluded that the financial statements for the annual periods ended December 31, 2013 and 2012 and the interim quarterly periods ended September 30, 2014, June 30, 2014 and March 31, 2014 should not be relied upon due to errors in the recording of oil and gas assets, revenue interests and drilling activities that were discovered during our preparation for our audit of the financial statements for the year ended December 31, 2014. The Company is still in the process of determining the extent of the errors."

This references financial statements covering periods back to January 1, 2012. This is why it is somewhat important and why some people may think Breitling was public three years ago--you know, because it was. Now, if you want to believe the corporation calling itself Breitling Energy went public two years ago, feel free. If you want to insist it is November instead of December, that OK, too. To everyone else, the corporation is responsible for its actions even if it changes its name, note the the reference to the 2012 financials.

I said at least five years because I didn't want to look up the date BECC was chartered, I just know it was at least five years from memory. If I am wrong and it was say 4.5 years, feel free to say I am wrong. My interest in documenting everything people should already know is waning. That is quite different from automatically saying everyone is wrong without a shred of support. Anyone who has read my posts knows I don't do that.

[FM II]

KPMG did not sign off on Breitlings financials. Are you inferring that Breitling had no idea they were wrongfully reporting for the three years they have been public the "recording of oil and gas assets, revenue interests and drilling activities?" Matter of fact - KPMG decided to DROP Breitling when they acquired Rothstein.

To be traded on the OTC QB they have to "provide a strong baseline of transparency." Given that they haven't filed anything for 2015 and haven't bothered to amend their previous years. It's highly doubtful. There is nothing transparent about them.

IMO.


I don't see anything in that post talking about Pump and Dump. The above is a response to one of my posts and I know I didn't say anything about pump and dump. You challenged the above statement on the basis of the three years period when BECC expressly said the financials were bad for three. Not that it matters whether it's three or two or five or six, but you had to say he was wrong. I guess that is all you have left.

This would be exactly the kind of thing Chris Faulkner uses. No one will really fault him for saying Breitling went public two years ago, but he knows that in certain people, saying "going public" conjures up images of IPO and corporate savvy that is simply not involved in a reverse merger with a penny shell so that everyone else can move to another penny shell. Those certain people are exactly the investors he is looking for.

CF also knows that he was not materially involved in the fracking of 1000's of wells, but I am sure he has some justification for saying it, like maybe his companies have had a royalty interest in a lot of fracked wells.

Admittedly, there is no way for me to know what goes on in CF's mind so the above speculation is not fact but opinion. I do find it difficult to justify another opinion.

On another subject, do you believe BECC has drilled a producing well every two weeks in the Permian?

[johnny46]

Breitling went public Dec. 9, 2013. So just over the 2 years they have been public they haven't filed any accurate financials.

Their financials that were audited when back to 2012. So from 2012 - 2015 none of their financial reporting should be trusted.

"...the Company has concluded that as of December 31, 2013 and 2012, a material weakness existed due to the fact that the Company did not maintain effective controls over its accounting for assets, revenues and expenses. In addition, the Company has concluded that its disclosure controls and procedures were ineffective at December 31, 2013 and 2014, September 30, 2014 and 2013, June 30, 2014 and 2013 and March 31, 2014 and 2013 because of these material weaknesses. If not remediated, these material weaknesses could result in further misstatements of annual or interim consolidated financial statements."