Dont Bail Out Just YetHello All,
A little background on me. I invested in this company a few years ago and got out for a marginal gain in 2010. When the stock dropped to
.05 in 2011 (before the reverse split) I bought back-in, without doing any due diligence of course...
I know it is difficult to be patient during this difficult time, but I urge all shareholders to hold onto their shares and quit f*cking dumping at these ridiculous prices.
I contacted Bruce to find out what the hell is going on and find out what the future holds for this company. Of course, for liability reasons, his response was not detail specific but it was candid, which at least shows he has passion and a determination to turn things around.
I guess when he took over this company two years ago it was damn near bankrupt. It was going deeper and deeper in the whole each month, much to do with interest on $2Mil in debt and a money losing property. He has worked very hard and has eliminated 1Mil of that debt. The 4 - 1 reverse split needed to be done to attract new interest in the company, and it has resulted in the $550K private placement. He is currently working on resolving the remaining $1Mil in debt to get things on even ground before being able to significantly move things forward.
In my opinion, Bruce has done well to keep this thing alive and give us at least a fighting chance to not only regain our initial investment, but make some actually gains. I'm going to give him 6 more months and I would ask all of you to do the same. Lets see where we are 6 months from now.
I think all of us who have been hanging on are doing so in hope that one day we can hit it big at the Bakken property. That hope is the only thing keeping me going. I have inquired further as to whether or not drilling at the Bakken site is the ultimate goal of this organization. Lets hope so.
Hang in there guys and feel free to share any info you have,
Iron