Replies to post #16494 on OMDA Oil and Gas, Inc. (OOAG)

[fAtnhapy]

doing the math its clear that he had to put in on the order of 3/4 of a million dollars into the company to get an ownership position and wrestle it away from lanze. All for a company that had a market cap of 100,000 dollars

Check your math. He agreed to raise $400K for Lanza and gave him $20K down and a note. Lanza gave him the blank certs which he gave himself a majority with took to DE and took control then told Lanza the balance of $380K was owed to Omda which was now him. So Lanza kept the assets and a law suit ensued. Barnett never put anything like 3/4 million into this. Not of his money anyway. Simply isn't true.

I would not be supprised if there are fewer shares around than we think...

Is the TA gagged?

Bottom line, unlike lanza who diluted this stock as a strategy, barnetts dilution, many 10's of thousands of times less than lanzas, was a necessity in order to keep the company alive

Simply not true. Barnett was a dilution machine. And the money he raised to this day has never accounted for. He clearly raised at least $3M selling billions of shares and spent less than a third of what was raised on litigation.

Yes the company did owe him mony, we all knew that years ago when we first invested in the company

How many times is he going to pay himself back? Twice already that I know of. Not to mention what's missing. And there will still by design be no audit of that period of time. Why do you suppose that is? I'd want an audit if people were calling me a thief.
fAt

[cjstocksup]

Excellent DD, keep up the great work and DD. Yours are the only posts left worth reading for the most part, this board smells rotten and you and i both know why.