Wayne shows a "streak of rare genius" by describing UNGS as being..."principally engaged in..." That other unnamed part is likely "Real Estate dealings" via strategic land purchases by UNGS so the boys can hang out in classy swivel chairs for the rest of their land-dealing days...if there was just some way to flush the investors out of the way...don't forget UNGS did claim to bring their infrastructure up to working condition more than a year ago so UNGS should be ready for sale...As I recall, they indicated getting minimal revenue by leasing their delivery system to another company....and they are supposed to be in a "hot-bed" of oil, and natural-gas production. One strategic land-development deal by UNGS might generate more income potential in one-year than UNGS could generate in 100 years of oil, and gas production...What about the first dilution of one-billion 400 million shares to underwrite their declared debt of 1.78 million more than a year ago when OS was less than 400,000,000? They should have banked millions on that dilution alone unless it was intended finance endless consultation fees....good thing they don't have to report it anymore...And the next hasty round of dilution at one-billion 800 million shares sealed the apparent fate of any loyal investors hoping for a serious production company.
If Wayne has a wild-card up his sleeve...it might be the sale of UNGS. They now have the luxury of sitting at the bottom of the tic chain lunching on one's forever, if they want to, while holding on to an eternal guaranteed tax-loss which pays them a generous salary for doing as little as possible.
Do I have any part of it right? Three-billion 800 million shares of UNGS valued at .0001 appears to be the modest sum of $380,000....if this is so, then how can UNGS be valued at more than five million dollars? Why sit on the asset forever just for tax write-off purposes?...Why not bank some cash, and hit the road? Hard work makes the hands dirty anyway....Wayne can now save on his soap bill. Are they really trying to buy the entirety of UNGS for a mere $380,000? It looks to me like the Real Estate deals appear to be the true focus.
If one is part of the "crew" pumping out all the so-called "fiat currency" to save the world economy from collapse then you respect, and honor all those who can make trillions of dollars vanish into thin air since it takes the harsh edge off of inflation, and currency devaluation. Does anyone feel this line of thinking holds any validity in term's of today's global economy? I'll keep my UNGS on hold for the taxman unless UNGS is sold....We all know UNGS had been on the trading block several months ago, and prior to that when UNGS announced a hoped-for closing of partial assets which would have covered the 1.78 million debt. I faintly recall someone on the board alleging the buyer appeared to be a cock-tail waitress living in a trailer park. Nothing wrong with that picture...is there? It must be legal according to the Securities Acts from the days of big Al from Chicago....1933...1936....The Safe Harbor provisions of the early Securities Acts appear to be a cozy protective umbrella to stand under... To give this spin another perspective...I recently sat next to a retired CPA who said he once handled lots of corporate returns...so when he heard my concerns...he replied, "Why do you think Congress passed the Securities Acts of 1995?....What you talk about is not supposed to happen." If I could return to the dinner table with this knowledgeable CPA, I would be asking how this apparent UNGS fiasco can happen today?
Is there a way to learn the truth with any certainty? Is it just a waiting game now? I sympathize with all those who have suffered serious losses.
Best Wishes
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