Quite so... not lost on me in the least that the timing may be not at all coincidental. Also not lost on me that when the water is full of sharks, only an idiot jumps into the water with a bloody nose... which is what KGLJ did by filing for a ticker symbol using a shell company that had been permanently de-registered, and that was directly tied to criminal activity by mobsters???
Neither the SEC nor Cramer MADE them perpetrate that stupidity and position the shares to have their value destroyed. That the stock is not listed now is no ones fault other than the company and those insiders who structured this the way it is.
Again, the people who put KGLJ together and into the shell, and the lawyer(s) who approved that... were not doing their job. It may be the case that they were not doing the job as a result of threats... and maybe that is why JP is not doing his job either, while playing dumb about his responsibilities to shareholders.
I don't care. FIX IT ALREADY.
Cramer has been touting nat gas as a major new opportunity developing for some time... but tonight was as specific as the touting has been. Not at all lost on me that he touted ONE particular stock... when there are probably more than a dozen that are in the play as big or bigger than the one he touted...
He touted ATN, mentioned Chesapeake, maybe a few others.
I know others that are there big time...
The advantage a small company like KGLJ should have, even with what is a really small project... is the tiny float... which also brings up an issue of the 5:1 we found out about recently, that took place in the middle of last year. The stock is trading again on the gray market... did a little over 200,000 shares on Friday, and about 82500 today. Friday was flat at $0.02, today opened at $0.01 dropped a hair, then popped up to $0.025, but the chart I see shows only three trades taking place... so, whatever price you get shares at... you still have to wonder: What price SHOULD you have been getting if the market were working. Who sold the shares you bought? Were they NEW dilution? Right now I don't see that ANY of the problems have been addressed by the company. All that has happened is that the ten days expired, and we seem to have either someone facilitating trading on the gray market, or at least one MM willing to risk being seen as flouting the SEC rules.
It is good news that the volume the last two days has been fairly inconsequential. If the plan was to get the stock blown apart by imposing the SEC trading halt... to enable buying back shares a prices way cheaper than $0.02... THAT at least didn't work out too well. A big part of the reason for that is that there is more ACTUAL information available HERE because of the efforts of the investors to dig it out, than there is available from the company.
Still MAJOR unanswered concerns: Who paid for the spam. Who were the "asian investors" blamed for dumping shares (another source of potential fodder for conspiracy theorists... that someone didn't want the Chinese owning any part of the Appalachian gas play...) and were the shares sold overseas cheap as Reg S exempt with kickbacks to management as they were sold back into the market here? Then, why no announcement of the 5:1 split and the massive dilution dumped into the market?
We heard one little squeak from the company that they were going to work to fix the problems... and have heard nothing since. And I am still being patient... but I'm unhappy that this is trading again WITHOUT having the problems fixed. It only takes like two weeks or so to fix the problem with the shell... the clock is ticking... and the shell dealer ought to be highly motivated...
It isn't the case that the current problem with the tainted shell and the FACT that the shares are STILL not properly registered... is the only concern with how this company is being, apparently deliberately, mis-managed. It is just the first and most obvious problem that is obstructing shareholders from having the market recognized an honest, fair value of the shares. The assets are only part of the story... the same way $100 that is yours isn't worth $100 to anyone if you handed it to a thug the mobsters use for running a protection racket... and you have to get it back before it is worth $100 to you. Hmmm? THAT is the concern here... that no matter what the assets are worth... the shares don't represent the value they should, because the "management" will hand YOUR assets over to someone else just because they have been threatened?
I had a first meeting today... will worry about the lawyers later... but soon, without progress.
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