More info on Jack Uselton, etc.
Jack Uselton, CEO of Mountain Energy, told me his management team will be moving into their new Houston offices on June 1. I expect that is around the time when the name of this company will change from ICVI to ME, and your shares will so reflect the new name
I had absolutely no interest in buying or holding ICVI, I only did it because I expected a reverse merger without a reverse split. So any talk about dilution, or why ME would want to do this, etc, although it has been answered repeatedly, is irrelevant to the fact that we now own ME! I find it hilarious that anyone would make an issue of this.
Now, a better issue is that the coal in WV is in the ground, there are expenses to take it out, etc. Uselton knows this better than anyone else on this thread, which is why he told me he is going after the gas first, get that flowing, which is simple and relatively inexpensive, and while that is going he can do a complete geological assessment of the mineral and coal deposits. I expect more details on this next Wednesday or Thursday.
But what Mr. Uselton seemed very interested in are other acquisitions that he is aggressively pursuing. I am looking for details on these subsequent properties and acquisitions, and I think we will begin to see these details as early as this week, but certainly within 30 days. For obvious reasons he could not be specific, but they are actively pursuing properties with existing wells, and these are far from West Virgina and have nothing to do with coal.
Mr. Uselton understands naked shortng, and the abuses of the BB market maker world. He also understands tactics that work against this, and is not unfamiliar with stock buybacks if that is needed. I am not saying he will do this, I don't know, but he told me that he intends to grow this company and do whatever it takes to go nasdaq within a year.
As far as his experience, he has drilled in 93 countries, he owned and ran US Petroleum Consultants, a company that went in after Red Adair to refurbish oil fields He also owned and ran IBIS engineering in the 70's oil boom years.
June 1 you can call them, their tentative numbers are 334-4111 voice, 4666 fax (Houston area code, forget what that is)
Again, this is a speculative play. If you want security, buy T-bonds. If you want to worry about dilution, buy Microsoft. But do it becuase you have carefully considered all the DD and made your own decision, not because of some $4.50 an hour fearmongering MM shill comes here to steal your shares.
|
