Well, they keep on acquiring other wells, which is great, but the dilution will still happen until the money is paid out. Looks to me the company which UNGS acquired the 25 oil wells has been completed, but these others probably not.
The bigger question now is what is going on with the "Asset Sale" that was completed per UNGS PR last week on the 29th of July??? I've sent emails to their PR person, but no response. The deal per their last 10q was that the company buying the assets was giving $600,000 in cash, assumes $2,000,000 of debt, and payment of $1.4m over five years for wells in West Virginia.
The company has no problems issuing pr’s on new properties, but never tells how much or how they are acquiring these properties…….I guess they feel that the purpose of a 10Q (which is due in 2 weeks for the second Q) is to give out specifics of deals….
Anyhow, some frustration here, but I still feel the company will come around and people will be rewarded eventually.
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