Financials - worse than I thought
OMG - by this time next year the company will have every possible asset leveraged and there will be next to no value in the stock. The bank and other lenders will own it all at the end of the day. Production is down to 145 BOED but they were promoting 275 BOED just a few months ago. Artisan is being sued for over $900,000 and in my opinion have no way to meet their obligations as they come due, although they will suggest otherwise because they plan to issue a 5 million debenture by the end of the April 2014 (suicide loan) accomplishing nothing but deferring the inevitable.The comapny needs to raise money just to repay debt ...who in their right mind would touch this thing even at .10 cents per share??? I honestly do not believe the company has the liquidity to see the end 2015. This thing is a time bomb and they keep advancing the clock. Oh and I must also say... another frac ball story. Go figure...LOL!!!
I am sure Mr Seal will be along shortly!
Good luck