Post by
taxdemicco on Apr 28, 2011 9:10am
FUNDS IN PLACE NOW!!!!!
Hello Everyone,
A major concern was the required funding for LFD.
This concern is now resolved. LFD has now the necessary funds to drill and put into production its oil property.
I guess all of the selling came from these 4 underwriters whom probably sold the stock, are covering their short position with the purchase of units and, get free warrants.
There is less dilution than if July 75 cents warrants were exercised. We are up to 204 million shares o/s compared to 244 million shares o/s had we gone the July 75 cents warrants avenue.
This is the last financing LFD will do since Oil production in October 2011 will bring sufficient funds for future drill operations.
It confirms that drill plans are going ahead, on schedule, in June 2011. I am excited to see that we will indeed have oil production in 2011, massive oil 41API.
It also confirms that VST hit mud.
JMHO