Post Deleted. Read What they want Hidden So, it looks like my post from yesterday has vanished ... organizing complaints are we? There must be something in my post that the stock promoters don't want others to see.
Emperor has failed to come up with enough cash to earn even a 1% interest in Block 7, Sudan ... this despite deadline extensions from their buddies over at Azure.
Now yesterday's news release is putting the focus back on the previous property promoted ... the Catalca license, Turkey. But keep in mind that EM had a 22.5% interest in that but have failed to follow through with the cash required to sustain that percentage.
According to the latest MD&A found on SEDAR:
On November 20, 2012, the Company?s entered a further amended agreement to acquire a 22.5% net working interest in the "Catalca Licence" by agreeing to (1) pay Azure US$1,500,000 on or before December 31, 2012 (if this is not paid, the Company interest in the Catalca License will be reduced from 22% to 14.5%), and an additional $800,000 on or before January 15, 2013, (if this is not paid, the Company interest in the Catalca License will be reduced from 14.5% to 10.5%). The Company is in negotiations with Azure to extend this date to January 31, 2012.
With two more payment deadlines having past, we should ask whether Emperor was able to put up the cash and what happened to the private placement that we were led to believe was all but finalized? From the MD&A we do see once again that Emperor is seeking yet another extension.
I predict nothing will happen except the Anonymous sellers will continue to unload that stock acquired for less than one cent per share.