Traverse Energy Ltd TVETF

Insiders own 30% in TVL

[stockfy]

Some posters clearly ignore that the insiders own 30% in TVL, see presentation. And they were buying below 10 cents until March 2019 when they hired the advisor.

[Executer99]

I spoke to the ceo last week at length. He seemed deflated and had given up...he told me he would not sell his company for peanuts...he rather lose it.he said he has invested over 2 million  I should have sold my 300k shares but at half cent?? i thought there was a chance and $1500  I suggested a rollback, anything..he was done. Said hes.old . Very disappointed...

[Theconsortman]

Nuts, They must have been delusional to keep buying. I could never figure out why a micro junior thought it was a good idea to enter the Duvernay with limited Capital. One swing and they were done.

[Executer99]

It gets even odder...they had paid down their debt from 6.8 to 6.5 in recent months Who knows. Maybe there is a chance here if salvaging something 

[bandit69]

It wasn't "his" company.  It was owned by shareholders. It was inevitable they would end up in this position.  Many of these downtown guys were simply lucky and hit the right time in history when money flowed like water from ibanks and investors.  But then, as is human nature, they drank their own cool aid and thought they made some money because of their own genius

[mike49]

Bandit- you are wrong., The boss here never drew a salary and was pretty consistant with his share purchases,even on the way down. So maybe not 'his' company but certainly one that he was dedicated to. Right time in history and downtown guys? Sounds like easy troll to me. The mistake here was betting the wad on a wildcat well and assuming the real estate was worth more than it was.who

[Theconsortman]

They were burning about $110k per month in G&A so they were paying someone!