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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (119188)	9/11/2003 11:01:44 AM
From: tool dude	Read Replies (1) \| Respond to of 150070

I cant find news on it either but I'll take a wild swing @ it;9 oil wells drilled over night producing piles of monopoly $ to run another 604 3000%! :)

To: Jim Bishop who wrote (119188)	9/11/2003 11:02:27 AM
From: Taki	Read Replies (1) \| Respond to of 150070

FRCD 4 million shares in just a month more,And on going concern 24,051,031 common shares, $0.001 par value outstanding as of April 9, 2003 26,893,888 common shares, par value $0.001 as at May 16, 2003 Results of Operations Fiscal Quarter Ended June 30, 2003 Compared to Fiscal Quarter Ended June 30, 2002 We incurred a net loss of $(67,246) from continuing operations for the three months June 30, 2003 compared to a net loss of $(54,556) for the same quarter ending June 30, 2002. The net loss from continuing operations is due primarily to costs associated with maintaining our existing oil and gas interests and actively seeking new oil and gas exploration opportunities. We have generated a cumulative loss since inception of $(2,021,943). Due to our continued losses and lack of revenues there is substantial doubt about our ability to continue as a going concern. Lack of Revenues At this time, our ability to generate any revenues continues to be uncertain. The auditor's report on our December 31, 2002 financial statements contains an additional explanatory paragraph that identifies issues that raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustment that might result from the outcome of this uncertainty. Expenses and Cash Requirements Our expenses for the three month period ended June 30, 2003 were $96,777 compared to $55,864 for the same period ended June 30, 2002. The increase in expenses was primarily due to an increase in financing costs, production expenses and professional fees. We intend to continue to maintain our existing oil and gas interests and look at new opportunities in the oil and gas industry. We will be primarily dependent upon proceeds from the sale of our securities for the near future. We anticipate that we will require approximately $210,000 over the twelve months ending June 30, 2004 for general and administrative expenses and approximately a further $295,000 to fund our currently proposed oil and gas exploration activities. Revenues received for our existing oil and gas interests will be applied towards our anticipated general and administrative expenses although there are no assurances that such revenues will continue to be received or be sufficient to cover our expenses. To the extent that we participate in further oil and gas exploration activities or proceed with the development stage with respect to our current property interests, we will require additional funds. There is no assurance that we will be able to obtain such additional funds on favourable terms, if at all. Our inability to raise sufficient funds could cause us to lose the existing oil and gas interests and any work conducted and/or payments made on the properties and could preclude us from participating in other exploration opportunities. Liquidity and Capital Resources These financial statements have been prepared on the basis of a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Our company has suffered recurring losses and has not generated profitable operations since inception. The continuance of our company as a going concern is dependent on obtaining financing from third parties. We are currently relying on our existing cash reserves to fund our continuing operating expenses and to fund our interests in certain oil and gas exploration and development properties. As of June 30, 2003 we had net working capital of $94,010. We would likely seek to secure any additional financing necessary through a private placement of our shares of common stock in order to fund our interests in certain oil and gas exploration and development properties.