Gayle Essary's Investrend announces yet another bleeders private placement success. Stock is down about 50% since Unbias Investrend analyst Gary Vassalotti PAR analyst at $25,000 a pop begain coverage.
INVESTREND PAR UNBIAS ANALYSTS TRACK RECORD OVER THE YEARS STINKS VERY BADLY. INVESTREND ANALYST COULD POSSIBLY OVER ALL BE THE WORST STOCK PICKER WALLSTREET HAS EVER SEEN.
basic 2 year chart. finance.yahoo.com
Analyst: Gary Vassalotti
Price Target: N/A
Time Horizon: N/A
Research Established: Nov. 3, 2003
Rating: N/A ?
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Far East Accepts $1.8M in Agreements For Private Placement Proceeds
Jan 7, 2005 (financialwire.net via COMTEX) -- (FinancialWire) Far East Energy Corp. (FEEC) said it has accepted subscription agreements for the purchase of units offered in a private placement for gross proceeds of $1,800,000.
Each unit consists of either (1) five shares of our Common Stock and one warrant to purchase one share of Common Stock at a price of $1.50 per share with a three year term from the date of its issuance or (2) two shares of Common Stock and one warrant to purchase one share of Common Stock at a price of $2.50 per share with a three year term from the date of its issuance.
The price of the Common Stock underlying the units was $0.80 per share.
The proceeds of the offering will be used to finance a portion of the company's operations in exploration for coalbed methane, our production sharing contracts in China and working capital purposes.
Certain investors have been granted specified price protection rights in connection with the sale of Common Stock in previous private placements. Full details are in the company's SEC filing.
Far East Energy Corporation is enrolled in Investrend Research's unique and pioneering professional analyst program, which facilitates independent analysts to provide financial coverage for shareholders and investors in companies that otherwise would have little or no analyst following. Enrollment in standards-based research is an important measure of a company's commitment to transparency and Good Governance.
In an initiating Benchmark report, Investrend Research analyst Gary Vassalotti said on January 14, 2004, that Far East Energy may benefit from China energy policies. On October 28, 2004, the analyst said the company's cash position had doubled from the end of 2003. The company has since elected to discontinue its analytical coverage, which will grow stale upon the release of new financials.
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