The 1,000,000 shares question:
You asked:
"is it me or did anyone notice the oil terminal 1,000,000 shares were not even issued from this September 30th report. To me that means they still have quite some time for this debt"
The 1,000,000 shares that El Maniel had to issue to JFK Petroleum were RESTRICTED shares, that El Maniel would be REQUIRED (under contractual terms) to RE-PURCHASE from JFK for $1.00 per share or $1,000,000 in cash.
The 1,000,000 shares at today's current bid price of .0007 would be the equivalent of $700 US dollars, so thats not the type of dilution I'm speaking about :-)
Clearly, JFK Petroleum is owed the $1.00 per share price, or $1,000,000 dollars. El Maniel has until May 26, 2011 (2 months from now) , to satisfy that obligation.
"On May 26, 2010, the Company entered into a sales and purchase agreement to acquire certain land, buildings, tanks, and equipment of an Oil Terminal facility in eastern Pennsylvania from JFK Petroleum, Inc. Under the terms of the agreement, the Company paid $50,000 in cash and will issue 1,000,000 shares of its restricted common stock in exchange for the assets. Additionally, the Company has committed to buy back the 1,000,000 shares for $1.00 per share, at the seller’s option, one year after issue date"
According to the mystery person thats emailing us from El Maniel, they are on "friendly" terms with the land owner of the non functioning Oil Terminal property.
Guess we'll all be here come the 26th of May, to see how friendly this individual is going to be.
What I also find odd, or very coincidental is that the stamp collection El Maniel has a 70% interest ($15,000 worth) in, is of a JFK collection.
And the name of the owner of the Oil Terminal Facility is also JFK?
Strange coincidence...
News 
Market Data 
Discover 
AI
