Replies to post #24818 on Rock Ridge Resources, Inc. (RRRI)

[rickyracer]

Toth issued the stock to Bialy, then was supposed to put up money to get the wells going and pay a monthly fee to Bialy. From what I heard, nothing was ever done to the wells, no fees paid to Bialy, and it is now in default, so Bialy will probably get it back. How could Brandon let this go, didnt he say it was supposed to have like $300,000 month income? LOL

On this forum, Toth claims that he did not pay Bialy because Bialy represented to him that the wells were producing prior to the purchase. I did some DD and found that was untrue. In the purchase and sale agreement, Bialy represented that the wells were capable of producing and that GSRE would put up all of the money to get them producing. So it looks like Toth did whatever was necessary to tie up the property, flip it to a sub company for a huge paper profit, then lost it, never putting up a dime.