So in Mid Novemeber, NRPI (NOW NRES) files an 8k and tells of a merger/debenture deal...
So I warn all of the devoted that it is going to slaughter them...
Turns out that the merging comany "2217 Acquisition inc" was a Nevada Corp created on Sept 22nd, by Richard Astrom, Ceo of NRPI(NRES)
Well, Richard writes up this "Floorless debenture" Lending 2217 Acquisition inc $1 million ....of which he pays $300,000 up front, then subtracts 2 years of interest and a finders fee (Totals $205,000) and then he has to issue the remaining $495,000 at a later date...
OK...
So Richard Astrom has a debenture issued to 2217 Acquisition inc for $1 million of which he fronted $300,000
Next 2217 and NRPI(NRES) merge and NRPI(NRES) assumes the debenture...
OK..
So, Astrom has a convertable that is floorless for $1 million worth of NRES shares...
And I spelled all of this out for these people in Novemeber...the stock was 3 cents at the time...
So...
Fast forward to January..
NRES announces a forward split of 3:1..
a 1.5 cent stock (that's where it went after the debenture news) Announces a 3 for 1...
And the NRES alumni are euphoric...
Oh, on other point..
That $300,000 that Astrom lent to 2217, then nres...
Well...last year NRPI(NRES) loaned Richard Astrom $302,000 at 8%...3 months later in a SEC filing he announces that the loan has been converted to a management fee including unpaid interest.....
So...
Here is an example of what the NRESers have to say to me for my Detective work:
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