Many people are voting with their shares and valueing it much less. It looks like when the price got down to .03 it was over sold. Yes, I have not gone down to Big Foot and looked at them pump the oil, have you? If I did go down there, it would probably be a waste of time, IMO. Why? Because if you look at the 10-Q they haven't pumped that much. If I was patient then my ISSM shares and my OLEX shares would both be worth a fraction of what I paid for them. I don't throw good money after bad. (In other words, I don't average down. There are some exceptions, but very few. I don't like having my money in downtrending stocks.)
Yes, Ajay, tell us how to read the CF statements. Also tell us why they couldn't get other funding with so much in proven reserves and Ray Dirks did a wonderful writeup and was going to help them with financing. Did you ask yourself why they couldn't get any other type of funding? If all of the money was received before the end of the quarter, then where did it go? Why doesn't management answer these questions. They should be easy.
Respectfully,
Eric
P.S. How do you know there is a lot of oil around Big Foot? Are the independent auditors really independent? Why didn't OLEX work to get Jefferson and Jackson counties producing when they gave over 8.5 million shares to Allen Burditt for the leases? Was that a good business transaction? If yes, for whom? Many questions, answers will be hard coming, but they probably will come. |
