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Well ladies and gentlemen, that is a classic example on how NOT to finance acquisitions and expansion, $135 Million debt with nothing to show for it apart from 1100 bopd, basically the fat idiot has only gone and repeated all the same mistakes as his last failed bankrupted company in the North Sea, history repeating itself.
Watch the crash continue tomorrow with popcorn at the ready.
Well I was going to buy at 0.07 but with the sp freefalling as it is now it's just too much of a risk. My guess what happens next is that the legal action (if you can call it that) will come to nothing, next week Billions of shares will be issued via bonds and then soon after the 1000 to 1 consolidation will be done, all preplanned of course.
If it ever got to court these are some of the questions a good lawyer must ask.
Who was the JVP?
Who are the Bond Holders?
Do any of the BOD or their family connections past or present hold Bonds?
What happened to all the money raised?
Why was production reduced in Q4 2023?
Is there a connection between Anavio and Atlas?
Anyone like to add anymore.
That quote is from me, unfortunately copl is a totally different kettle of fish to ctag where that was a complete scam, copl however was either mis-managed on an industrial scale or the legalised theft/transfer of pi's assets to the city boys, happens all the time.
But forming a Share Holders Action Group (SHAG) should always be the first step in fighting the corporate world.
I reckon Blackstout was either one of the bod or was paid by them to ramp this share so bondholders can escape, I always had my suspicions about him since he first posted those ridiculous multi post essays. Of course he's no where to be seen now as it's job done.
Customer accounts are always ringfenced anyway.
"Arthur’s inability to run a company" on the contrary he is very shrewd, very rich and it is almost certain that copl's sp destruction was engineered by him to remove private investors from the company, when the pi's have eventually gone just watch the production rocket, it is inevitable.
Pennies, Tiburn was exactly the same at BPC and look where that ended up and god knows how many others before, looks like his next target is TXP. He's either incredibly unlucky/naive or paid to do it but what he never does is come back and admit he was wrong, rampers are far more dangerous than derampers.
The problem is that share trading has got increasingly hard over the years with deceit and lies everywhere both with bod's and bb's. 2012 to 2017 was for me anyway the golden age and you could make money almost without even trying, those day's are sadly now long gone.
Cashking, you're probably looking at over 8 Billon shares once all converted, it will now go below 1p for sure, then the 1000 to 1 consolidation kicks in with the inevitable sp slide starting over again.