Rodinia Oil Corp. V.ROZ

This is all you need to know

[moneymaker75]

From last MD&A

During the three and nine months ended September 30, 2013, the Corporation’s remaining exploration and evaluation assets were written down to the estimated recoverable amount based on the fair value less cost to sell and as a result impairment of $2,321,822 was recorded. The fair value less cost to sell was based on the observable market price for the Corporation’s exploration and evaluation assets as derived by the Corporation’s current market capitalization and management’s assessment of the most likely net realizable value for those assets. 

The writedown leaves a value of about $900K for the land leases from the September balance sheet. The company has been bled dry of everything else. So best case scenario you are looking at market value recovery which is less than one cent per share. Less all the expenses it would take to go through the process, it really isn't worth the effort. Best to emotionally let go and move on. 

 

[birdie22]

With all due respect monymaker75, that MD & A was written by the very managment and BOD that resigned and set this company adrift. Strange how the MD&A was written and published on Nov. 27-2013 and the renewal of PEL 81 lease became official on Nov. 28-2013 so it did not have to be reported in the MD & A nor did they mention that they where waiting on the Extension renewal. This whole

[mattgub]

"This whole thing has a smell about it." Well said birdie 22. This management is even being scrutinized on the PFC bullboard. They don't care at all about the shareholders. This was obviously an orchestrated move. Hopefully, it wasn't to defraud investors. We will know soon enough. I guess they sold all our PFC shares and pocketed the cash?