Here is a negative post I found on AOL. Anybody wants to take a crack at it?
Subject: Questions
Date: Thu, Nov 13, 1997 12:48 EST
From: Derif
Message-id: <19971113174801.MAA16146@ladder02.news.aol.com>
I know I am probably taking too skeptical view on this but I love the way these investment boutiques work. Notice the way they take an equity stake and now recommend the stock, but they also will help fund oil & gas ventures. I am sure they will want the company to raise money (at higher stock prices, they hope), probably through S3 fundings....they aren't even a full SEC filing company, so don't expect any legitimate equity offerings. Still can't
find how many shares outstanding, although someone says 13+ million. Where can we get any financials? I am also skeptical of this Enviro-Tec situation, just getting an upgrade in the in the class status of the waste site is going to allow them to charge 18 times what they do now to dispose of NONHAZARDOUS wastes???? Are they taking the same wastes now that they expect to charge 18 times the amount when approval comes through? If so, what will
stop those waste generators from going to a different class II facility once Enviro-Tec gets the approval? I have seen lots of great waste stories related to Superfund, nuclear disposal, yada, yada, yada. Seen stocks like ONSE, WSTE, etc, never pan out. Any of you posters got answers here?
SALT LAKE CITY, Utah, Oct. 27 /PRNewswire/ -- Coconino S.M.A. Inc.
(BB: CSMA) announced that Dallas-based venture capital and
institutional research firm, M3, Inc., has initiated research coverage on
CSMA. M3 will also assist the company in selecting and funding oil and gas
projects. M3 specializes in emerging, energy-related public companies.
"We have great confidence in Coconino's management and their ability to
identify and acquire income producing properties," says Michael Pickens,
president of M3. "We have taken an equity position in Coconino as an
expression of our commitment, and we look forward to working closely with the
management in exploring the tremendous opportunities in the oil and gas
industry."
According to Hamlin K. Elrod, chairman and president of Coconino, "Mr.
Pickens and M3 have an excellent industry and institutional following, and we
are particularly fortunate to have developed this affiliation. With M3, CSMA
will receive the skilled support and recognition it deserves from a
significant force in the financial community."
Both Pickens and his associates possess extensive experience in energy
analysis. They have served several major Wall Street firms which have
directly provided their services for major industry investors, including Carl
Icahn, Gordon Getty, and T. Boone Pickens.
M3 has expressed particular interest in the potential of Coconino's
subsidiary, Enviro-Tec, which operates a uniquely situated disposal well in
Northeastern Utah that services oil & gas operators. Enviro-Tec is working to
upgrade its status from a Class II to Class V. It has achieved full EPA
approval for Class V non-hazardous wastes, and with the State of Utah's
anticipated approval by next spring, it will become the first well of its kind
in the state and the only one within 400 miles.
The state's Class V rating will allow Enviro-Tec to dispose of commercial
non-hazardous wastes and charge $16.80-$29.40 per barrel, rather than the
$0.40-0.70 per barrel it currently charges. Enviro-Tec has applied for a
7,500 barrel per day permit.
The region surrounding Enviro-Tec has several major commercial facilities
that produce an estimated 50,000 barrels of non-hazardous man-made liquids per
day. This includes salt water from hide tanning, and lettuce juice and
chicken fat from food processing. These commercial facilities usually dispose
of their waste fluids in ways that adversely affect the environment and the
community's various waste water treatment facilities. Government regulation
is forcing an end to these practices, creating a large-scale opportunity for
Enviro-Tec.
Coconino S.M.A. is a diversified holding company involved in the consumer
product and services, and natural resource industries. Coconino's subsidiary,
Ad-HaTTeRs, Inc., manufactures and markets unique air fresheners for the home
and auto. The company's newly-formed Coconino Oil & Gas subsidiary has an
interest in a productive oil well in northeastern Utah. Its Enviro-Tec
subsidiary owns and operates a Class D Type II disposal well, also in
northeastern Utah, that is undergoing reclassification to Class V. The LPS
Ltd subsidiary is a financial marketing organization involved in personal
financial education and the refinancing of mortgages.
Safe Harbor Act Disclaimer: This release may contain forward looking
statements that involve risks and uncertainties, including, without
limitation, continued acceptance of the company's products and services,
increased levels of competition, new products and technological changes, the
company's dependence upon financing, third-party suppliers and intellectual
property rights, and other risks detailed from time to time in the company's
federal filings, annual report, offering memorandum, or prospectus.
SOURCE Coconino S.M.A.
-0- 10/27/97
/CONTACT: H.K. Elrod, President, 800-471-0171, or Mike Millis,
800-733-0087, both of Coconino, or Michael Pickens and Devin Slager of M3,
940-825-3034, or Investors: Fred Johnston and Geoffrey Plank of GFC
Communications Corp., 513-248-9534/
|
