Replies to post #1323 on Savoy Energy Corporation (SNVP)

[crynik]

http://biz.yahoo.com/e/111214/snvp.pk8-k.html

bankruptcy in the filings....pump and dump going on here...beware tomorrow bagholders..

ITEM 8.01 OTHER EVENTS.
The Company believes that moving forward it may be unable to pay its debts as they become due. Currently, the Company is dependent on funding from third-parties (including the amount loaned by ASL, which is evidenced by the Addendum, described above) to support its ongoing operations. There can be no assurance that sufficient funds will continue to be available to the Company on favorable terms, if at all, to enable the Company to continue its business operations, maintain its Securities and Exchange Commission filings and pay its debts as they become due. As of the date of this report, the Company is in default of approximately $245,000 in notes payable and as of September 30, 2011, the Company had negative working capital of $1,043,438 and a total accumulated deficit of $3,064,421.

Additionally, as of the date of this filing, the Company has been threatened with litigation from certain of its creditors, and does not currently have sufficient funding or resources to defend itself against creditor claims or allegations.

In the event the Company is unable to raise additional funds moving forward, the Company could be forced to abandon its current business activities, sell a substantial portion of its assets and/or the Company could be forced to seek bankruptcy protection. As a result of the above, the Company has recently retained a bankruptcy attorney to advise the Company regarding its rights in bankruptcy and its potential filing for bankruptcy protection. In addition, the Company may file a Form 15 with the Securities and Exchange Commission which would result in the suspension of the Company's filing obligations with the SEC and the Company ceasing to make periodic and current report filings with the SEC. As a result, there may not be publicly available information regarding the Company, its operations and results of operations moving forward, and the Company's securities may be ineligible to be sold pursuant to Rule 144, which could cause the value of the Company's securities to decline in value or become worthless.

[Namaste Charting]

Nice to have you aboard, by the way i enjoyed the gains on mbs*...nice...this should do much more though imo.

[Namaste Charting]

Board marks climbing fast here, tomorrow is up to the shareholders, if we have good traders they won't be selling anytime soon...imo we will have those that know how to play a stock of this magnitude with this 30 million float and we get close or even test 0.01's.

All bets are off if we get an update from company, then sky is the limit.

SNVP$$$$

[Chasing Stars]

***SNVP Video Chart 2/1/2012***

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[$tock_Professor]

SNVP gobble gobble 10 baggas!!