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ah yes the insider acting all high & mighty and preaching to the common folk about market timing.
I guess a timely reminder of what has been previously published about "Helpful":
"I caution all shareholders to be VERY, VERY careful of certain postings on bulletin boards (in particular one that goes by the moniker “Riddler” and also “Helpful” on the LSE Board aka Stephen Lundy of Bespoke Capital Solutions and who is anything but “helpful” as his posts on Red Rock Res and Attis Oil & Gas illustrate for anyone that followed him) and social media forums where, sadly, less than honest and transparent intentions are at play and that are at a 180 degree opposition to your interests."
No misunderstanding Helpful. I never said you were in Recon.
I know you are a shareholder in EOC and you're making a comical read-across from a highly promoted stock in RECO.
"It probably is over-valued at the moment" - might be the understatement of the year. The bubble is bursting over there, already a -65% collapse in market cap from its ramped high. When it looks and smells like a pump & dump...
But let's return to EOC. This is a corker "We believe that the net proceeds from this offering, together with our existing cash and cash equivalents, will enable us to fund our operating expenses and capital expenditure requirements for the next 24 months following the closing of this offering"
That statement hasn't changed since they've had to walk back the raise from $15m to $10m ($7m net).
They believe $7m is going to last 24 months. For a junior oil explorer. Who are they trying to fool?
But it gets better. Remember that Lofgran gets $360k + 50% bonus and the CFO gets $220k after listing. Pure greed.
So that $7m net has to last 2 years and pay out 22% of that just for 2 greedy greedy employees.
It's a lifestyle company and you would have to be a clown to be involved with EOC. I'll praise Bell if he dumps the lot on IPO but not holding my breath. I'm confident EOC will join the -99% club just like Lofgran's other horrendous vehicle NTOG.
No drama LS - just noticed the embarrassing walk down in the expected raise. $7m does not go very far for an o&g junior explorer these days. I highly doubt a serious campaign is possible.
I was simply suggesting that if AB is smart he will dump the lot asap to maximise value - we will see. Heavy dilution in juniors from IPO is highly likely, especially when the company has to lower its fundraise by 50%. Then you have the Lofgran factor. Whatever value you attribute to this lifestyle company, halve it, halve it and halve it again.
Hahaha Recon Energy... Yes DYOR indeed. Viceroy's research reports make for enlightening reading.
A bubble that is ready to pop but thank goodness that EOP is right next door. Whatever "Helpful", keep pumping these ****e investments!
Elephant Oil IPO is being well received then... IPO documents state that it was looking to raise $20m in March. Then down to $15m in Aug and now only $10m in the latest filing in Oct.
The management estimate net proceeds of only $7m resulting in a 40% reduction in proceeds outlined for exploration and paying licence fees.
So either everything has got a lot cheaper (ha!) or the sounding out process has been poor and now management are praying to get it away for much less. $7m will get spunked straight away and the company will be back for a discounted raise in short order. If AB has absolutely any sense at all he will dump the lot on IPO (if no lock in!), the shares will only go one direction and it isn't up. Par for the course when it comes to RRR.
Guessing you were home schooled then otherwise the school system hasn't served you well. Do Canadian's also expect everything to be handed to them without doing any work?
So lazy that you think anything that disagrees with your views is a lie... so sad. Believe me, don't believe me. I couldn't care less.
how so - what lies? Why would I ever post anything for the resident fool? The fool who is too lazy to look for himself. Sad old codger with 40 years in finance can't do the leg work and instead has to resort to calling others liars. Anyone can check if they possess a couple of brain cells. Pathetic.
You think the MM sets the buy/sell flag? Whatever platform you're looking at is comparing the exec px to the mid px of the displayed quotes.
If you're able to buy a SETSqx stock below the displayed mid px then the MMs are offered within the displayed spread. It will show up as a Sell. There are really no games or mystery involved.