Yes, that's no verifiable substance whatsoever.
"1. change in management, removing filth from previous dilutive counterparts" I have no idea what that last clause is supposed to mean, but Brandon Toth works for Novak Capital. Novak Capital touted TNOG stock on a compensated basis (disclosed) at least from 2005 into 2006. Clayton Smith was averring that TNOG stock would reach six cents in 2005. John Marconette is connected to Drake Gold Resources, Inc., another scammy looking little penny pink sheet stock touted by Novak Capital. He was presented at Drake as a mining expert. I suppose both mines and wells are holes in the ground, but beyond that, the only thing I can see that qualifies Marconette to run Titan is that he's drawing a salary elsewhere. Great change in management, huh, from Novak sponsored to Novak controlled.
"2. formation of an advisory board...." Including Pete Maupin, who sold Titan a lease for a low five-figure amount, telling the company that it might produce 100 barrels per day. It didn't. But he is the "soul" member of the old team to be invited back, according to the company. (He's been around the company for years.) Hope he's got a lot of soul. The advisory team also includes Reed Conar, an "accounting graduate", presumably to replace the now scorned ex-C. E. O., John Haylock, who had an "accounting background". There is also Reed Pitney, about whom we know little other than that he has a sales background and is tasked with "augmenting the revenue production and resource management aspect of the company turnaround." Sales? Is he going to drive an oil tanker around peddling the stuff? The only way the company could augment the revenue production is to find more oil! I don't think you need a salesman to get rid of it.
"3. settlement of major debts of company...." But nothing has been settled. There is supposedly a settlement agreement, but Titan hasn't performed it, and we have no idea what the terms are. I doubt satisfaction of the judgment has been recorded, or will be until the company performs the settlement agreement in full, issuing stock which is not yet even authorized and handing over cash from those future operations which remain unspecified.
"4. selling off oil of current projects...." More like selling off oil from past projects--the entire inventory of it produced over the period of a year or more, evidently. I love the part about putting new wells on line, except for the fact that they don't have any, nor any money with which to put them on line. Hey, I got a report that a grocery store in my town sold some groceries today, too. But they didn't put out a press release about it. That's the kind of lapse you get when you don't have a sharp advisory panel guiding you.
Are you at all serious about "verifiable substance"?
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