It seems that there would be alot of rigs available right now with the soft oil prices. I have read that the rig count is down substantially in the last few months due to the weak oil and gas prices. It would seem that other equipment would be easy to obtain, if you have the money. Which brings me to my "real subject". If Coconino management had the money, all of this work would have already been done by now. If Coconino had the money, the Form 10 would have been filed by now. If Coconino had the money, they would not have to get a loan from a Roswell N.M. bank, plus 144 stock, to buy a well. The loan, of course, is a load on the earnings of the well, and the issuance of stock is dilutive to the shareholders. Look at the press releases - all positive, yet all are extremely vague when you read them. And then each press release leaves a way out on each subject. These guys are like moving targets. I called MM last week, asked some very direct questions, and got hung up on. I did not know then if he was pissed off because the stock was plummeting or what, but something had scared him. And that's when I started putting 2 and 2 together.
Where is the money going? Where are the net profits from Ad-Hatters going? How much are these guys being paid? What is Hk's salary? What is Mike Millis' salary? I found out that ad-hatters is netting $50,000 a month. Where is that money going? I found out that there is salt water being disposed into the disposal well as we speak. Where is that money going? The well that was bought in Oklahoma, where is that money going? No wonder there has been no Form 10. No wonder we read today that the Buff deal could have some delays. That was one of the purposes of the press release this morning. One of the other purposes of the press release was to get the stock up, and create some buying. So, get the stock price up, and put the shareholders on notice that there could be some more delays in the BUFF deal. We were supposed to get proxies on the BUFF deal on July 15. Now, there is another delay, and that could lead to other delays. They are only NOW talking about the SEC. You think that we will see a proxy and registration statement on August 1? What a JOKE. For their information , this is July 17. And they expect to get SEC approval in 10 working days. Come on! I can guarantee that there has been no registration statement filed, there are no audited financials(which are required), and no one is working on any of it. Wanna know why? No DESIRE to become FULLY REPORTING. Why would you want to report that you are a thief? The money that belongs to us, the shareholders and owners of the company, is not being used in the best interests of OUR company. It is being used for other stuff, and I will report later on what it is being used for, exactly. And the stock price? Who do you think has been selling all the while these positive press releases and never ending delays have been taking place? Take a GUESS.
Hey, I just got started, thanks to the MM hang-up, I got a little more interested in my "investment." And every time I turned a rock over, there was something there. More to come as I hear back from the "field." |
