Replies to post #19432 on Empire Energy Corporation Intl. (fka EEGC)

[EarnestDD]

$7 Million of Malcolm's Executive compensation for the Mystery Technology was booked in EEGC's Q3 financials.

Sorry ... its a MATERIAL Event.
jmo

[BobSinCA]

The reason I thought that the GMH deal had closed -- with the accompanying transfer of flare gas technology rights -- is because EEGC issued a press release saying it had:

LEAWOOD, Kan.--(BUSINESS WIRE)-- Empire Energy Corporation International (Empire) (Pink Sheets:EEGC.pk - News) announced on Tuesday, October 26th 2010 that Empire has completed its re-acquisition of Grand Monarch Holdings Incorporated.

And an acquisition requires an 8-K (you do agree that, yes?). So, either

(a) The company's press release was inaccurate -- company has not completed its reacquisition; or

(b) The company has not issued the required 8-K for the acquisition.

Both sound 'inappropriate' to me.

Separately, perhaps the mystery technology in the 10-Q is not the flare gas technology; or, perhaps it is the flare gas technology itself, just not the distribution rights (so, Mr. Bendall is getting paid twice, once by EEGC for the technology, once by GMH for the Americas' distribution rights). But, why not say what the technology is??

There is also the separate question as to why EEGC should commit $21M, or several times its market capitallization, to such a technology -- why not devote those resources to drilling? On the other hand, no cash has changed hands, near as I can tell; Mr. Bendall has simply increased his ownership of the company at a signficant cost to other shareholders(dilution). I doubt those shares are coming back if the company can't come up with $14M more.

[Obi-Wan Kenobi]

knock knock--this thing alive