Wescorp Energy Inc WSCEE

Confused and Frustrated.. Am I Alone?

[teetogrn]

Is there anybody out there who is having similar thoughts or am I just missing the boat?
This may turn out to be a long read but for those who got the time, please bear with me...  
To those looking to invest realize that this could be an excellent opportunity for you at these share prices, do your own due diligence as the technology seems positive.  This post is merely a long term shareholder looking for clarity.... 
To sum things up, I’m frustrated and confused.  I acknowledge that my frustration and confusion may very well be because I’m focusing on a subset of news releases (ie: i’m not savvy enough to totally understand quarterly and annual filings which may answer a lot of this) so if anybody out there can fill in the blanks for me, please do.  I caution that the following views are mine only based on my own view of things so I reiterate please do your own due diligence.  Having said that, I’m trying to understand why I am perceiving things a certain way so I thought I’d start by looking at the news releases on the company website.  I have enough faith in management to assume that everything that has transpired to date has been for a reason.  But I think the problem is I feel like I’m only getting bits and pieces as per below, so when you stand on the outside and look in it’s tough to understand the big picture.  Years ago I told friends and family about this company and many invested... now I try and change the subject whenever I think it may come up because like me they are three or four times below their purchase price.  And unfortunately, we are too uncomfortable to average down.  If other shareholders feel the same way it might explain why any news releases, even when they seem positive, aren’t getting a lot of traction.
The news releases only go back to January 30, 2007...  good news is that is shortens this post... bad news is it doesn’t give the full picture...
Brooks and Associates chosen for IR firm a couple years ago... I was excited at the time.  I think maybe later they switched to  Renmark.  More recently, Bibicoff + MacInnis chosen for IR firm.  This may be worth getting excited about but it’s difficult to be because previous changes haven’t yielded the desired results.
Navigator Process Management software introduced... seemed like a decent product... I recall there may have been some clients but did it ever take off?
Solution to locate and track oilfield equipment... seemed like a good product at the time and to be honest it still does... is it being used?
IFMWorks... I missed this one... is it still in use?
Excellent results from H20Maxx Independent Testing... excellent news!!  But if I recall correctly we had excellent independent testing results for Flowstar and Ellycrack... so again... tough to get excited about.
Weatherford... exciting from the aspect that it was a reputable company and there was no non-disclosure documents in place so we actually got to hear who the business parter was... is this dead or is it a work in progress?
H20Maxx set up in Kansas for site visits... excellent news!!! Now we are building a mobile unit.  Wouldn’t it have been cheaper to just fly some people out to Kansas... lots of people?  If we just paid to get them out to Kansas over the last few months wouldn’t we be saving a year or so of time and in turn giving ourselves a year or more of an advantage over the competition?
Some posters sounded excited about the fact that it was a reputable company putting together the trailers for the mobile H20Maxx units... again, great news.  But if I remember correctly I was excited a few years ago because a reputable engeineering company was doing the Viscositor upgrades when the unit landed in Canada... what came of that?
Lease agreement for 256 water remediation units... where are we at with this?
Cancen... seems like a positive relationship.  Does this replace Weatherford or complement it?
Flowstar gone... tragic from my point of view... I thought independent studies showed this thing paid for itself within a few months (ie: small foot print, better readings, less site visits).  Didn’t it work on coal bed methane gas sites as well of which there were a ton in Alberta alone... why did we move it to Texas?!  How did this not become a home run?
Viscositor... didn’t this also have excellent independent results?  Wasn’t there a building all ready for it at the research council... what happened?
I think we have the goods... there appears to be depth in the management team... why are we where we are?  What needs to be done so that more are aware about the positive benefits H20Maxx offers? 

[mlucci22]

Teetogrn, We need someone like you on the board of directors! Its good to see a post that is longer than one line here on stockhouse.Your summary of this company is excellent. Some of the things that you mentioned I've forgotten about. Your questions and concerns are valid and its the reason why shareholders do not get excited about the news releases they put out. Because us shareholders have

[teetogrn]

Mlucci22... thanks for filling in some of the gaps.  From what I recalled (and could be wrong), it was third parties who did the math to prove how quickly Flowstar could pay for itself... how effective Viscositor was... and how effective H20Maxx is (ie: reclaimed oil, etc.).  I think that's why I couldn't understand why we couldn't get these products to market... independent

[mlucci22]

As far as I know, results from third party testing(proveing) was never made public. Wescorp basically told its shareholders results but never did we see test results from the viscositor or h2maxx from a third party. The viscositor was to be independantly tested in the sasquateuan research council but that never materialized. Supposedly a few Universities (forget which ones) were out to look at the

[teetogrn]

OK... i get what you're saying... i was just going by the company posts (ie: Dec 2, 2008).  Assuming the results are valid, your posts still are concerning.  I did not realize that the Kansas thing was ineffective and I wasn't following the filings close enough to pick up on the missed targets and revenue deferrals.  I do know that when I posted earlier and referenced the

[b00gn1sh]

The management of this company has never proven that their interests are aligned with shareholders.  The share price goes down and they just grant themselves more shares at a lower price.  They continue to pay themselves a salary despite inability to deliver on promises.  The share price is in a 5 year downtrending channel.  If the Board of Directors was truly independent they

[teetogrn]

b00gn1sh... i re-read your post and one of mlucci's in this thread and both expressed a frustration with management and to paraphrase... their apparent lack of desire or inability to maximize shareholder value.  For what it's worth i am in total agreement.  Part of me is waiting and seeing what happens but as time goes by a bigger part is anxious to hear exactly what the plan is,

[b00gn1sh]

I would love to hear from other long-term holders too.It's hard not to conclude that the management of this company can talk the talk but are unable to walk the walk.  Frankly, I don't think they care, as long as they continue to draw salaries and reprice their options downward with the share price.  Even more cynically, I'm starting to wonder if it wasn't all smoke and

[teetogrn]

Do they not have a lot of their own money invested or is this information even available?  If they did you'd think it would be a driver for them to get the share price up. I guess i could go read the filings but the question that comes to mind is what is paying the salaries/bills?  I used to think it was Flowstar but I thought that's gone.  Somebody mentioned we still get a

[mlucci22]

Don't expect to get much of a response from this forum. I believe there are a lot of shareholders that are really deep into this company and are afraid to tell their fears publicly in fear of an even decline in share price. Not sure where the salaries are coming from. I'm guessing from the issuance of shares,,,, maybe some flowstar. You are correct Teetogrn, ellycrack is non revenue

[b00gn1sh]

I don't believe the management has any of their own money invested, but that's based on past reading of filings.  They are paid cash salaries, and compensated with share options that have been repriced as the share price has cratered for years.  I do not believe any member of the management of this company has purchased shares on the open market, but I could be wrong about that.

[teetogrn]

So in layman's terms... the longer we continue in this mode (if I understand this correctly), they are possibly accumulating more shares at lower prices and in essence averaging down.  Long term shareholders like myself who are afraid to average down because I have no idea what this company is doing (yes I know there are news releases but don't understand the rationale in the long

[rxpbrute]

Do some research to find out how many shares wsce had outstanding 4 or 5 years ago and compare it to the amount the company has now, I think you will see where the income is coming from. 

[pioneer69]

FWIW I thinks it is safe to say each and every shareholder is frustrated and displeased, how could they not be?The share price being the number one reason, followed by the constant change in direction and complete and utter lack of execution up to this point.Moving forward it appears they have chosen a technology and constructed an agenda to proceed with, the construction and deployment of the

[teetogrn]

You bring up some good points Pioneer.   There is no denying all of the powerful things to consider but as you state, it is the 'the constant change in direction and utter lack of execution to this point' that gives us angst.  As an aside, I too 'choose to stick around and see how this unfolds'.The jury is still out on whether emotion can be totally removed from decision

[mlucci22]

Teetogrn, I have to disagree. Shareholders do not need to hear more talk. We've been getting talk for over 5 yrs and nothing has materialized.We need units in the field produceing reveneues. The closest we are to seeing to h2omaxx revenues is Cancen and that is turning out to be a long drawn out thing just like anything else Wescorp has embarked on. The one and only h2omaxx unit they have is

[pioneer69]

teetogrn, I completely agree, accountability is a must. With the changes that have been made and with the new IR firm, etc., I am HOPEFUL the management of this company begins to keep its valued shareholders more informed. I do not believe you are naive, it is a fair request. I believe we are entitled. As I stated before, I am willing to look forward, I will give Power, et al some time, I want

[pioneer69]

mlucci, none of us want to hear the talk that produces nothing. We don't want false timelines and empty promises and if something is "off" I want a reason. As I mentioned, I'm hopeful this all changes, we'll just have to see. This certainly cannot continue.I too think the tech is real, otherwise I would be long gone. We'll know something soon enough. And

[mlucci22]

Pioneer, Read below and tell me when they released the "Assay results from an independent laboratory based in Wichita, Kansas.Is the testing of this tech really complete? I thought they told us a year ago that this tech was "extensively tested" Here's an excerpt ----- "Wescorp will be performing internal tests to verify the efficacy" Read highlighted area below. They

[pioneer69]

mlucci, to my knowledge they haven't. Which reinforces my point. We've received no explanation as to who, why, what, where, regarding many NR's wherein the information published did not come to fruition, wherein lies one of my greatest frustrations (along with the share price) with past management. This must change. If they press something and for whatever reason the event(s) does

[stockdom]

No doubt good news on cancen unit would be well received. However, the bad news is that management has misled investors so many times that the only thing that can be believed is revenues and then only as reported to the sec.

[mlucci22]

Pioneer, you and I are on the same page. The only difference is, I don't trust management! I don't necessarily mean that in a deception standpoint (though you could argue the case here). I don't trust them from a competence stand point. Just based on their projections alone tells me they can't foresee the issues not too far down the road with bringing a new technology to

[extortionist911]

It's not only management that has misled investors...theres one guy in particular that has done his fair share of bull$hiting while trying to round up investors.Anyone care to guess who he could be?I think Ike knows his name and I would have to agree with him.

[teetogrn]

Mlucci, I'm not so sure we're so far apart on this but i think i see the disconnect.  As you stated in an earlier post you are skeptical as to how solid the technology is... which is fair based on all you've stated.  I'm willing to give them the benefit of the doubt and accept that it's close, however, I am skeptical about their ability in getting something to market.

[tbrown35]

extortionisti think alot of us know his name...but he gets your posts deleted if you mention his name here....really quite sad that he is associated with the company...downright shameful...maybe he is down in his locker?  (hint-hint)