my only beef with charles volk is we had hardly any convertible debt until after he closed the deal with mason for black cat. then immediately after he started piling it on. look at the filings, it's all there to see.
volk brought in ironridge, more debt through asher, then la joya. was it all required to close existing deals, or get others in the works, like d bar? i think he had other, better options.
as many have said here, mason can probably turn this around when the oil is flowing, but i think volk did us all a disservice with the method of financing. think of how many shareholders would have written checks for private placements, which could have been non-convertible, non-toxic, and yet for some reason volk decided to go for financing that increased the OS by a lot and gave the shysters incentive to push the price lower.
anyway, volk may still be on the board, but i'm hoping he has a lot less to do with running the company. let him sit back and enjoy his jaguar (or equivalent) vehicle when production milestones are met. lol
goooooooo, mason! get us out of the ditch volk created! :-)
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