Replies to post #57063 on Sixty Six Oilfield Services Inc (SSOF)

[Nobodys Fool]

Yup. And I can say I highly doubt Dave Ho had any intention of selling his company for 10M especially when its worth more than that.
Stay tuned....

I think it we will hear more.... just a gut feeling....

[ChaseDog31]

If Clayton were to PR a final decision to rescind the LOI, the next morning the stock would open above .005 and probably take out a penny later in the session.

Bland has to go, Jason. This is your company, your baby, and great dad's always protect the younguns.

[wadirum1]

The fact that the financials don't mention the LOI/S-1/PR could be good or it could be bad.

Yes, it could be that it is as if none of that happened and Bland is now finally gone.

Or it could be that things still aren't right. If the LOI and S-1 aren't happening, then the fins could have said that. Or the very recent PR could have said that. Or at a minimum the fins could have been signed by a new lawyer. Or they could have at least announced a new lawyer being hired as a supplement to the guy who worked all of Bland's prior deals.

But none of those steps were taken.

Perhaps there have been back-channel communications to selected shareholders who the company wants to keep informed about the truth? Does that make it all okay? Let's not worry too much about the rest of you all, who have been left to flail about in the wind, dumping shares at steep losses to folks in the know?

So, even if I can almost convince myself that current SSOF management means well, I'm left with the thoughts that this sort of back-channel strategy is WORSE than having no strategy at all. I find it unethical and will leave it to the SEC to determine if it is illegal.

But most of my thinking is that current SSOF management is NOT on the side of shareholders -- or perhaps they are, but somehow Bland still has leverage over them. I cannot say what the core issue is here, but I still don't like it. The initial Sixty-Six merger never made any sense to me -- what did those folks get in exchange for giving their company to Bland? Why has that never been explained? I have never heard a convincing explanation of what Ho's involvement entailed or why and how it has evolved. And then the continued involvement of Morris and the re-emergence of Bland, which many of us predicted... Was that just a coincidence? I don't believe in "coincidences" like that.

I hope for the sake of the little guys here -- if they still have their shares -- that SSOF decides to produce a FULLY TRANSPARENT explanation for all of this nonsense. And sooner rather than later. Back-channel BS is not sufficient in my book. It is worse than no communications at all, because it gives some people an unfair advantage over others.