News Focus
News Focus
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inspro

08/12/09 10:32 PM

#14479 RE: rrufff #14477

rob, you nor I have no idea what the delay has been, I give everyone cudos that I mentioned because with all the negative comments on this board including you , I was not expecting an increase in revenues as we have seen by the filing and I personally dont think its off very much after an audit, and I am elated by the filing no matter how you or earnst want to spin it ,I consider my investment to be sound in LBWR Im sorry you are so sour on this stock when just a few months ago you were high on it and I promise you I am down in dollars probably far more then you the only difference is I continued to buy on the way down and you havent. In retrospect I dont think you should be playing in the pinks, its not fun to lose money, and if you expected to make a fast buck and thats hardly going to happen in a pink sheet stocks. I once told you patience is a virtu that seldom goes unrewarded and your responce was if you were a doctor you would have more patience, made me lol. if in fact you still own the stock ( which at this point I am beginning to doubt) I sincerely hope you make big money. I said from the beginning that I had an advantage because I bought this stock for the very ,very long haul, I am investing in my grand childrens future.

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creede

08/12/09 11:10 PM

#14497 RE: rrufff #14477

rrufff,

ever watchful for dilution I did in fact call the TA on Monday.

They reported no shares added.

For some reason Dexter Morris seems REALLY stingy with the shares.

Is that odd?
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micham2012

08/13/09 6:17 AM

#14532 RE: rrufff #14477

rrufff:

This is the most interesting thing in the report. And I am also confused.:) Frankly, this "loan" does not make any sense to me.

As I understand it, on February 4, 2009, North American Energy Group entered into what is essentially a non-recourse "bridge loan" in which it agreed to accept a fixed amount of Labwire stock as currency for repayment. Apparently the loan came due on April 1, 2009 and the company permitted "foreclosure" of the "collateral" for the loan -- an understandable decision.

But why would anyone loan on these terms? Was something supposed to happen between February 4, 2009 and April 1, 2009 that would make the company want to repay this loan? How could this deal ever turn out well for the lender? Why would anyone pay $263,000 for stock that it could buy in the open market for a small fraction of that amount?

Is this the North American Energy Group that was the lender?

http://www.naeg.com/

Is this?

http://www.northamericanenergy.net/

Do you suppose the lender would like to loan me some money on the same terms? It could be a 1 day or 1 month or 1 year or 1 decade "bridge loan" as far as I am concerned. Even if one assumes that Labwire has a promising future -- and the latest numbers are comforting, but not exciting -- why couldn't I take the loan proceeds and go buy stock in the open market? I mean, does anyone really think that this report will drive the share price above a nickel, where it was before a crisis of confidence caused the latest death spiral?

Above all, what the hell am I missing here?

Thanks in advance for any light you can shed on this for me.

Steve