Be real careful before you start buying Avalon shares again, because the stock price went into the 20 cent range, just me, but I will not buy additional shares until it goes down to $.05 a share. I think KR might be trying to sell unregistered shares at $.08. Time is money and he, KR, needs funds to live on.
If you are thinking of giving KR any of your money for unregistered Avalon securities, do your DD before you write the check. No Nevada filing, as yet, to increase the authorized? You might want to call and speak with the Nevada Secretary of State. KR may be trying to sell you unregistered securities that he and Avalon’s management has not filed with the state. Our authorized is only filed for 3.33 million shares, regardless of what has been reported that our authorized is 200 million. No filing, no 200 million.
Why do you think that the Nevada filing hasn’t taken place? Maybe there is a big question mark regarding the vote, maybe a big question mark regarding the series “A” preferred shares KR gave himself and the preferred share vote. Check your own DD with regards to the boards authorization to give a director/ officer 40% of the company without a vote of the common stock holders. That is how KR obtained these series “A” preferred shares. Also check the Nevada statues in regards to this type of action and the requirement for a stockholder vote to approve such action. The time of this board action is also questionable as the history will show a possible merger in the works at that time.
No SEC 10Q filing to date. Why do you think that is? We just might not see a SEC filing for some time, again historical data, check your own DD.
Me, I am still waiting for that SEC filing, looking to see if the $160K deposit for oil and gas properties is still being reported after a couple of years. Who would give anyone a $160K deposit, held by the seller for over two years, for a possible oil and gas asset purchase? My guess is we will see that deposit disappear in the next 10Q report, will be an interesting paper trail. But when you know where to look, things are easy to find.
As we wait, do you think Avalon still has an interest in the oil and gas properties reported on Avalon’s web page?
Remember, the company, board of directors and KR reported the ownership of the University of Wyoming license for paraffin wax deposition for years, after they lost that license. It took lawyers for the university to get KR to remove the information from the web page and then we saw the loss in SEC documents.
Do you think any of those web page oil and gas reported holdings have been lost?
Those reported holdings are;
E.A. Chance #1 & #2 - Camp County, Texas
Operated by KROG Partners, LLC, a Kilgore, TX. We know that is Bobby Doviak’s company. Do you think Avalon still owns a stake in that property? No news here for years.
Do you think Avalon still has an interest in this property?
Dixon Heirs #1, Deltic Farms & Timber #1, the Gunn #1 - Miller County, Arkansas
These properties are also operated by KROG Partners, LLC. Again Bobby Doviak. Again no news here for years.
My favorite is Janssen #1A - Karnes County, Texas. Do you think Avalon still has an interest in this property?
PROEX Energy Management (TSX: PXE) (PXEYF.PK) is the operator of the well. X Avalon director RJ Abercombie’s company is the operator here. I’m sure everyone knows of the Abercombie / Boeckman conection! Again no news here.
Do you think Avalon still has an ownership position in the Lake Washington Field - Plaquemines Parish, Louisiana.
Swift Energy Company (NYSE:SFY) is the operator of the field. Again no news here!
Waters Well - Lipscomb County, Texas
Does anyone know who the operator is here? Does Avalon still have a position in this property? Again no news.
Grace Wells - Lincoln County, Oklahoma, the only property KR has spoken about in two years.
Avalon holds a 70% working interest in the 5 Grace Wells, Grace #1, Grace #2, Grace #3, Grace #5A and Grace #6 in Lincoln County, Oklahoma.
What a crooked road we travel sometimes, when it is so much easier just to build a small oil and gas company into something the management and investors could be proud of and the current board does nothing to fix the problem!
Guilty by association for doing nothing, KR needs to be fired!
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