Replies to post #18851 on OMDA Oil and Gas, Inc. (OOAG)

[Sheepdog]

These financials are apparently only submitted as a precursor to an attempt at restating history. Just laundry washing.

The attorney fees are capitalized as an asset indicating the terms of the "settlement" are contained therein (no settlement win, no attorney fees asset), yet no other assets from the "settlement" are shown so I assume there are none. (where is the big bad Concord dome that is worth a zillion dollars?)

Even with the "loan" to Barnett shown as an asset (a negative liability - Why did we loan him money - thought he was loaning the company money - hmmm...wonder if this has anything to do with his 50M shares he intends to "Buy back") and assuming he will pay it back, this company has an equity value of MINUS $370K. It is bankrupt. And people are advising that we buy more based on this financial statement?

This statement is from a quickbooks program and it is missing the P/L and cash reconciliation, simple printouts. A financial statement without such is worthless. Does this seem similar to BDGR's recent Statements where half of the info is left out by "accident"?

$7K cash is enough to buy a European bio-diesel company? Buy more leases worth another zillion or so? Drill wells in the Concorde dome? All on a "cash basis" with no dilution?

All this says is that the company has raised $3M from investors and has nothing to show for it. The only reason it has been filed is to lay the groundwork for a bogus "audited" statement later and a "distribution" to the shareholders of exactly ZERO when AEB skips with the money IMO. DelaJoya better be careful here, they may have more assets than AEB to pay the shareholders back.

Which Company is this for? OUR Company or BARNETT's Company? It doesn't say. That is not the only thing not said because this report doesn't say sh..! What it does tell us is the kind of info we can expect from the "auditors" The only thing this company has is the "settlement" which info is being withheld from us.

[ooag_long]

If you look at my old posts I suggested that Barnett was actually entitled to much higher compensation than the current financial statement says here,

as far as any aquisitions, w/ cash flow from bdgr AND LANZA, we are looking at 4 x 500,000+ or upwards of 2 M / year as it stands now, its a very simple balance sheet, I am not sure if it suggests there has been a settlement w/ the lawyer, or will be used as evidence in the upcoming hearing,

I am getting excited about the company again, and w/ the full ignore, its a pleasure to be posting again free from all of the blowhards

:)

cheers