Atikwa Resources Inc. V.ATK

Kehoe

[renoit7]

I basically decided to stop looking at this company all together because I had gotten so frustrated with the complete incompetance of management. I took a look over the weekend at what our old buddy Sean Kehoe is up to; he's gotten on as a financial advisor (I had to chuckle about that) with Beringer Capital in Calgary. Their office is Suite 201 1401 1st East, and a picture of it is the same picture that Atikwa use to have on their website. Can anyone remember what Atikwa's address was before Hansar took over? I'm pretty sure that Beringer Capital is now operating out of the office that Sean had Atikwa working out of. If I had to guess I'd say that the private equity financing Sean arranged at a very generous interest rate of 15% (its compounded daily so it actually works out to 35% annually) was with Beringer Capital. I know Sean told me a lot of information he should not have during the negotiations he was having during the period Atikwa was trying to get a deal done and I know he did the same to quite a few other people. I had an ambiguous conversation with the Alberta Securities Commission and asked them what would be the treatment of a person acting as the CEO of a company who divulged information to individual shareholders from negotiations that were supposed to remain confidential and their response was that they would bring a formal investigation against the individual. That is on top of the fact that the entire time he was skimming money from Atikwa to pay the company that he owns, Drilling Fund,s to do the work that he was paying himself to do. Now he works for a company that could possibly be getting $3million a year interest on a debt that he arranged. This guy deserves to be in jail. I don't want to bring the complaint forward on my own because without an corroboration it is just my word against his. Is anyone else interested in pursuing this?

[Drillin_is_Thrillin]

Maybe someday, Suite 201 will be part of a tour that tourists take when they visit Calgary. " this is the room where many companies were formed, put in a desk and paid Drilling Funds outrageous amounts of rent which was then distributed back to the Drilling Funds management at the expenses of the shareholders. It was a very lucrative arrangement for a few years but in the end their House of

[JD150]

It might get worse before it gets better. They lookn to water down the share price even more by offering to pay contractors back with shares and then do a 80-1 roll back nxt year.

[Drillin_is_Thrillin]

Wouldn't they want to go after the assets first?  Why would they accept pre-consolidation shares knowing that the price will be destroyed post-consolidation.

[JD150]

Going after the assets is easier said than done. Especially if your the 30th company in line. Also, Kehoe strung most companies along until they were 45 days out from last invoice. After 45 days its very difficult, almost impossible to put a lien against assests.