Is the company even real? Why behind on the filings?
Is this company even real? Why is the company so far behind on its filings, plus what was this whole trip through the bankruptcy court about?
As near as I can figure, the people who did the filing didn't have the authority to do so in the end, so it got withdrawn.
How can a company that is nothing but a bunch of oil rights, cash in the bank and collects royalties be months behind in its filings? It is not like the guy in charge, Holmes?, would have to do any work, he would just pick up the phone, hire a law firm and a CPA firm, have them prepare the filings and show up to sign the filings.
I wonder if one of the people involved is up to their old tricks of where there is really nothing here, or nothing left, and refuses to file anything so no one can see that.
For the record, I seem to remember one of the principals, back in the 1980s or 1990s, of the company was involved in an incident years ago where they had some oil right and contracted for the drilling and in the contract asserted that they had the funds for pay. (Somewhere there is an earlier postings there is a link with filings in the case). After a while the company doing the drilling demanded payment and/or proof of funds but the person never came across and eventually stopped work. What that looked like to a lot of people is the guy through there was oil on his pil rights and faked that he could pay for it, and thought 'when' they struck oil they would be able to pay for the drilling out of the sucessfull drilling. Of course, they didn't strike oil in time and the drilling company wanted its money.
Now, there was a big sale of oil rights for cash, allegedly, but for some reason there is always all kinds of strange problems; long delays making filings, some kind of absurd buying of a small oil right for like $70K, a lawsuit as to ownership of a lot of shares and the company, the bankruptcy filing that got withdrawn.
Louis J. Desy Jr.
News 
Market Data 
Discover 
