Replies to post #3517 on Daybreak Oil and Gas Inc (DBRM)

[alsobirdman]

No dilution. Jim doesn't do that and there is no need. They are funding drilling with revenues and the existing LOC.

I'd have to look up and see what kind of restrictions are in effect on the shares they issued to Maximilian for setting up the KY deal, but I doubt they would be selling for this amount. They know the potential payoff.

This time of year many people need money for Christmas gifts, paying estimated taxes, etc.

[xiws]

Very minimal dilution
jjwood- the good news about DBRM is that while they have been going a bit slower than we would all like. I've been accumulating for quite a few years now, and do wish there was a bit more PR and such - but I can say that James Westmoreland (CEO) has done it efficiently, responsibly, and with absolutely minimal dilution. There haven't been any pipes or other major stock actions in a long, long time. The funds for additional drilling have been obtained through loans - though some do have some non-cash terms related to revenues from some properties, and some stock, etc. They are now right on the edge of break even for operations. Might be there now, or 1Q next year, depending on production numbers. That finally frees them to use income for new land and wells, rather than outside funds. Some of the recent good news from KY and CA also allowed them to renegotiate a loan, getting lower interest, etc. Check out the various older news releases.