The wolf,thanks for your post,
I appreciate your true concern about folks investing in Avalon. Trying to weed through the information out there is difficult at times. What is fact and what is fiction, when KR has had a history of attracting less-than-scrupulous promoters bringing oil and gas and or technology deals to Avalon. One fact is clear from my DD on Avalon’s history; once these less-than-scrupulous characters are exposed they are removed from the business element.
Just me, and based on my own DD, I have found KR can be influenced very easily and very naïve at times, I believe he needs to do a better job of researching the folks brings these business opportunities to the table. It is easy for me to say as I look at the history and he is presented with the present and future, some of these chameleons are hard to see.
Dilution is an interesting topic here, raising capital and paying the bills with stock vs cash and or debt, I’m OK with. When more shares are issued it changes the dynamics of the ownership structure. Based on the last DEF 14C filing, KR has a fixed 40% position with his preferred shares;40% does not give you control. He only holds 5.6% outside his preferred position and when he converts his preferred shares that position gets reduced to 3.36%, 43.36% still doesn’t give you control.
Control of the company is in the hands of 51% percent of the voting stock. Sooner or later that 7.64 % that gives KR control will make a change. Since KR uses stock to pay the bills and raise capital those control positions get reduced with new investors. That is why a say large block holders will one day have a say.
You have suggested “you may want to chat with several depts in the SEC about all the filings of AOGN and AOGN does just what they need to do to stay trading". Your suggestion is well noted. My DD also includes SEC research on the company, the SEC does take “securities fraud” very seriously. Those companies that use convertibles and or have sales of unregistered equity securities are high on the SEC radar. But the amazing thing to me; is the number of public traded companies in this “pink market” that have no reporting at all and folks buy and sell these securities. I am reminded by the cost associated with being a fully reporting company. It is expensive, at least Avalon does file, maybe not always on time, but does file.
I think you make a very good point with Oiltek, as Avalon has a majority position in this private company. The IPO has not been done, but looking at the IPO documents, who benefits; a few of the current shareholders. There is no money being raised for the company. There has been a suggestion that Avalon’s position in Oiltek may be distributed to the Avalon shareholders. Me personally I would rather see Avalon maintain its majority position vs. distributing that position to shareholders. Those current stockholders that hold minority positions in this private company should be the most upset. The IPO lists those folks. Let’s also not forget about ex-director Thad Kaplan and his influence in bringing these technologies and business spin-off to Avalon.
The biggest concern to me is what Jill was supposed to be doing in building this company (Oiltek). Her public profile only suggests she is a director at Avalon, but the IPO lists her as an officer of Oiltek. Nowhere do I find her working on developing the IP as KR has announced in his Stockhouse interview. We know information is lagging with Avalon; maybe she has made some progress but I can’t find any that suggests she was involved. Then again maybe she has been fired from this role.
I did find the reports on the progress reported by KR, in the interview, concerning the Ultrasonic Mitigation Technology IP work and I did find the company that has agreed to the field testing. I did see the video on the testing of the technology and I did see the technology work. I know the inventors of the technology still believe the technology will work commercially. I also found what I would consider issues for Avalon. All of the information I am reporting here was my own DD, you too can find this information yourself if you are willing to look and ask questions.
For me it has always been about the oil and gas assets. Fields that were not commercial in the earlier days are commercial today because of technology. These older fields have hidden treasures that technology will help extract. To me it’s just a matter of assembling the right team to make Avalon profitable. I believe this new JV just might be the ticket.
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