A good question is raised. Is this a sham or isn't it? I personally do not know for sure. I have no access to the business records of this company and without that access no one could possibly know for sure.
I do know that I visited Independence and that I saw employees and heard conversations and phone calls. I saw wells, pumps and leases. I heard conversations with local residents and heard suggestions about land owners that should be contacted.
I have read the post of other investors that have also made the visit and confirmed everything I witnessed. I do not know Nuggetman but I do believe he spent several months on site and witnessed production and progress which he passed on to us.
A "biggey" to me is Blackoak. He verifies that Larry Sanford is real since he has been involved in joint ventures with Allenergy on old and new wells. He also verifies that there is income being produced by posting about the royalties he receives.
As I understand (please correct me if I am wrong), a company cannot issue fraudulent financial statements (even unaudited) without the CEO being liable to criminal charges. Therefore, the financial statement (even unaudited) may be relied on to show growth and financial standing.
Bottom line (TO ME) is that this is a real company and not a "pinkie sham".
PPS ??? I don't know. I feel it has a lot to do with the lack on confidence following the 40 million share dilution coupled with the "stop sign" associated with Allenergy standing as a "Pinkie".
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