Replies to post #16868 on Adapti Inc (ADTI)

[12thman]

James R. Renfro quote in an e-mail to me back in March...
"Under my leadership, mineral exploitation and exploration will be the primary focus of Brazos and development and exploration drilling of Renfro Energy's current oil property in Cameron Parish, La will be number one on the list."

BOOYAA!!!!!!!!! ;-)

It's not Renfro trying to raise the money, it's BRZL managament and Jim has been hands off on the fundraising from what he told me in an e-mail back in March. It'll get done imo and the market thinks so too or this would be in the triple zeros.

[ds650heavy]

This being a RM, you are correct that BRZL does not need to come up with 700k to buy RE. These are all just paper figures, and really equate to no money changing hands. The payoff for BRZL will be in the 10% interest in profit from product sales. I really think the delays stem from the legalities involved in making cash appear, transfer and then be reabsorbed into the books for account settlement over time. IMO

[Santes8]

I'm curious as to how you know they have been unsuccessfully trying to raise capital since last June? Did he tell you this? Or are you speculating because this is the only conclusion you can come to? With Renfro owning the majority share of this company, why do you think he would let it fail? I'm pretty sure his staff did more DD on this company than we have access to, before he bought controlling intrest...

[packerfanbud]

I know you don't really want to read and do research, so I'll bring it right up to the top for you. Yes, these companies are related and part of the deal.

At Closing, BUYER shall: 1) Release SELLER and Petroleum Capital, L.C. (“Operator”) (both SELLER and Petroleum Capital, L.C. shall be collectively referred to as “Manager”) from any and all future claims, demands, or lawsuits filed against Manager; 2) Defend, indemnify and hold Manager harmless from any and all claims which have been or could be asserted against Manager in any way related to any operations of Manager in Section 22, Township 14S, Range 13W, Cameron Parish, LA.


The definitive agreement will contain the customary representations, warranties and covenants by SELLER concerning title to PROPERTIES, existence of liabilities or contingent liabilities, requirements for various opinions of counsel and other matters required by BUYER and its counsel and reasonably agreeable to SELLER.


The SELLER and the operator of record of the Premises, Petroleum Capital, L.C., will provide any necessary releases and approvals required under all loan agreements, security agreements, financing statements, indentures or other debt documents of SELLER; approval by any necessary governmental authorities; and receipt of all necessary third party consents. Any and all expenses directly incurred by BUYER and SELLER in connection with the sale of PROPERTIES hereunder shall be borne by each party respectively.

http://sec.gov/Archives/edgar/data/1420924/000109635010000096/brazosloiex996.htm

[Entangled Proton]

You know as well as I do he's not paying himself. When a merger happens whether it's a reverse merger or not, the assets of one company has to be transferred to the other company. This is done through the exchange of restricted shares for those assets. If the surviving entity is the merging company then it is a reverse merger.

The shares of a shell like BRZL have no intrinsic value without assets (oil leases). Once the assets are transferred to the shell(BRZL), the remaining non-controlling share are then sold via private placement to improve the value of those assets. All the shares , including the controlling shares are then put up for sale to any large company or investor who wishes to buy those assets.

If the selling price of those assets equates to 1.00/share then the investors who get in on the beginning of the process also get 1.00/share for their shares.

Renfro holdings was created for the management of the assets of Petroleum Capital/Renfro Energy.