Your questions and opinions are prescient and they deserve answers and Ari should address them, if he can, and if he can't he should get out of the deal.
How can he ever get out of the deal?
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--MediaTechnics Corporation (Pink Sheets: MEDT - News) is pleased to announce that it has acquired Forward Energy, LLC of Billings, Montana (“Forward”).
Pursuant to a Stock Purchase Agreement executed April 19, 2010, MEDT has acquired 100% of Forward, as a wholly owned subsidiary. Forward’s assets, liabilities, and results of operations will be fully consolidated with those of MEDT.
In retrospect wouldn't it be easier to make one simple phone call to Montana DEQ: Underground Injection Inspector before this deal was made?
If so it would have been revealed. The wells in question were shut down in 1989 & 1990 since that time they have produced 2 truckloads over the last few years during testing
What I don't understand is why make a statement on the PR that Forward asserts that these wells have “proved undeveloped reserves” approaching 200,000 barrels of oil. That I feel gives the impression to investors that this deal had substance that most likely bought into the hype.
So what recourse do shareholders have for this mistake management made? or are they going to hang their hat on this statement where shareholders are left high and dry.?
Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied.
I am all for a deal that will benefit ANYT and MEDT shareholders, this adds no value whatsoever to either.
IMHO
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