Replies to post #60040 on Energy One Corp (EGOC)

[martymech]

Good points James31 . we have to think that there have been a significant amount of delays and setbacks on the roll out schedule of the new EGOC as a result of Covid flu. How much I guess it's fair to say we don't know.

As far as the $2000 bucks that EGOC reported. First and foremost they had to report that income in the 3rd quarter filings because it was there and on the legal books. Also I would say that this $2000 qualifies them to become whole and not a shell.Let's not down play the fact that there may be some larger incomes in the 4th quarter along with assets that we are not aware of yet!!!

The standards they use for qualifying shell status and non shell status is purposefully vague when it comes to the regulators making a determination. In other words (and they even tell you this in their own words) the monetary threshold for determining shell or non shell status is not a set number and it is all pretty much what ever they decide is appropriate on a case by case basis (paraphrasing). If it were 100,000 bucks they could still say it doesn't meet their standards and on the flip side they could say that 5 bucks would meet their standard. There is no magical number. There are also other variables and what type of business it is that may or may not require massive assets etc etc. This creates a lot more chaos than if they would standardize their income level requirement for sure. I guess this gives the person making the decisions god like powers on every case based upon? Unlimited powers . Reminds me of many years ago driving through Montana when they had no speed limits on the freeways. It was simply up to the police officers discretion to determine if you would get a ticket or not for driving too fast or too slow. Drivers were pretty much at the mercy of what mood the police officer was in at the time..Seems like the same applies to reviewing shells for determining non shell status but I guess they know best. They deal with a huge number of shell determinations and by now should be pretty good at it would be my guess.

All said I think it is looking great for EGOC in my opinion. It's a process and it hasn't gone as fast as we would like to have seen it progress but at least it's happening and seems to be happily moving forward (Do these things ever go as fast as we want them to?). Just my opinions.