this stock seeing alot of buzz around town in penny land , had a nice 24 % gain on avg. volume today
Posted by mrchipper on :
with the ongoing good news we see from this company one can only see higher pps imo. keep up the good work FOFU no more foreign oil
Posted by mrchipper on :
$FOFU a very strong chart showing growing accumulation mfi at 77 and rsi in the power zone on a daily time period
Posted by mrchipper on :
$ FOFUNice mfi indicator showing no selling and with small buys coming in its only time before she goes on the great news the last week or so . People i called EVCA to .005 this week in the chat room last sunday it hit .0065 pay attention to this stock
Posted by mrchipper on :
$FOFU looking for continuation of buying volume to come in again this week . If mfi holds above 70 and the rsi continues to rise we will have a winner
Posted by mrchipper on :
FOLKS when you see upgrades on stocks pay attention this stock up 50% since upgrade. $FOFU going higher imo. to good not to
Posted by mrchipper on :
Vice-President and Director of $FOFU Force Fuels, Tom Hemingway, believes that this 4-phase program should push oil production to levels in excess of 10,000 barrels per month for the Company within two years. Per the plan, operations will be continuously profitable from the start of the 2011 forward. At current oil prices, Force Fuel anticipates that it will be generating $1 million per month in gross revenues from the Kansas property alone.
Posted by mrchipper on :
$FOFU holding here, pullinback a bit after nice 50% run Friday
Posted by mrchipper on :
very nice buying volume once again today and both accumulation indies are again rising $FOFU getting well deserves attention
Posted by mrchipper on :
lots of chatter on $FOFU as to be expected with the volume and such a low float, one of the biggest things about penny stocks is patience
Posted by mrchipper on :
$FOFU all eyes on this one even the big PR firms paying attention to this company, seeing the full potential of what they can do with existing wells and at what cost to bring them in
Posted by mrchipper on :
$FOFU we are seeing nice continuation play today and is a nice sign she has gained traction in the otcbb world look for more upside next week u all have a great weekend
Posted by mrchipper on :
Hope you all have been paying attention to not only this stock but others that our gang have been posting about. We only deal with real companies not shell waiting to be sold. $FOFU Dec quarter end should be out soon due, should have some nice information in it and expect a PR to follow...keeping an eye on FOFU - this will fly once it hits
In the last few weeks we have seen this company blossom from having been up listed and existing wells positive revenue report
Posted by mrchipper on :
well i hope you all paid attention to my call on this one its not done $FOFU is very strong company that is in a good sector
Posted by mrchipper on :
$FOFU had a nice low volume technical pullback , im glad to see that so we can see the day flippers have pulled out, giving INVESTORS now a clear path to higher ground imo
Posted by mrchipper on :
Compensated Awareness Post - View Disclaimer $FOFU.OB~ 1.2 Float, 7.4 outstanding. With last weeks breakout above that 100d sma, she looks like shes setting up again imo PAT ATTENTION Folks this week may be a gooder
Posted by mrchipper on :
So far we have been right on the money with the growth of this company over the last month or so. This company has great potential and it looks like the peeps are catching up with latest news from $FOFU. whats cool is its protecting its share holders by not getting loans fron so called consulting companies. lol
Posted by mrchipper on :
Look for accumulation next week no matter how small or large, so long as we see positive volume with out large chunks of sells , it will signal a longer and safer move higher in the weeks and months to come. $FOFU again sharing all information as it comes out, and a current filing company. Please visit pinksheets.com and click the financials tab and take the time to read and understand them Folks if you dont know whats in them find out before you buy them. Trust me I learned the hard way and know very successful at pennies
Posted by mrchipper on :
$FOFU we going to be here for a long time. and we will see nice gains for our loyal investors, does someone hear a train coming tomorrow . Remember folks a full reporting and transparent company. Dont miss the train
Posted by mrchipper on :
accumulation is the key to any stocks success to get to the next tier in a stock price, you must form a base as you go, $FOFU took another step in that direction.Not bad at all for FOFU closed up 23% yesterday and looking for it to trade back to the top of the trading channel today
Posted by mrchipper on :
$FOFU ok we have a channel going on here . 60 minute chart shows we are channeling from .10 to .26 range. As you see when the stock hit .10 she bounced and now we sit at .16. There is another 60% left to the top of the channel and the 100 day ma line sits there as well
Posted by mrchipper on :
$FOFU all I can say if you see a stock getting bid whacked with small selling on the ask, it only can mean one thing. Someone knows something we dont know
Posted by mrchipper on :
$FOFU continues to trade in a very tight range and low volume hearing news on Wednesday so be looking for some good results from that imo
Posted by Jamesk on :
PYBX is going to hit some highs tomorrow
Posted by Homersbud on :
MrChipper is a paid pumper....he don't care what the stock does, he gets his 100k shares no matter what.
News today, the worthless IRP group can't even move it...lol
Company could have put the money to better use them these idiots.
Posted by CAPTNEMOS on :
a stock will never move up if they keep issuin shares every month can it?stock is garbage.
In August, 2010 the Company issued 100,000 shares of common stock for consulting services at the market rate of $0.65 per share, or $65,000 in the aggregate.
In September, 2010 the Company issued 500,000 shares of common stock upon the default of a note payable. The shares were valued at the market rate of $0.45 per share, or $225,000 in the aggregate.
In September, 2010 the Company issued 60,000 shares of common stock as a loan inducement fee. The shares were valued at the market rate of $0.26 per share, or $15,600 in the aggregate.
In October, 2010 the Company issued 150,000 shares of common stock as payment for prepaid consulting fees valued at the market rate of $0.45 per share, or $67,500 in the aggregate.
In October, 2010 the Company issued 25,000 shares of common stock for services rendered. The shares were valued at the market rate of $0.45 per share, or $11,250 in the aggregate.
In November, 2010 the Company issued 300,000 shares of common stock for services rendered. The shares were valued at the market rate of $0.35 per share, or $105,000 in the aggregate.
In December, 2010 the Company issued 150,000 shares of common stock for services rendered. The shares were valued at the market rate of $0.20 per share, or $30,000 in the aggregate.
In January, 2011 the Company issued 700,000 shares of common stock for services rendered. The shares were valued at the market rate of $0.10 per share, or $70,000 in the aggregate.
F-14
Posted by CAPTNEMOS on :
At January 31, 2011, we had $3,000 in cash and cash equivalents and our current liabilities consisted of $239,772 in accounts payable and accrued expenses, $253,066 in notes payable and convertible notes, $1,352,265 in notes payable relating to the purchase of oil and gas property, and $536,663 in accrued officer salaries.
For the six months ended January 31, 2011, net cash used in operating activities was $141,342, inclusive of a $1,164,593 net loss for the six months ended January 31, 2011. Additional significant factors effecting cash flows from operations were depreciation charges of $9,878, common stock issuances for services totaling $430,183, a loss on settlement of debt in the amount of $225,000, amortization of debt discount totaling $62,463, a change in inventory of $52,291, an increase in accrued officer salaries in the amount of $225,833, and a change in accounts payable and accrued expenses amounting to $15,513.
Cash used in investing activities during the six months ended January 31, 2011 totaled $2,500, all of which related to the Company’s note receivable from a related party.
Net cash provided by financing activities was $60,000 for the six months ended January 31, 2011, resulting primarily from proceeds from notes payable in the aggregate amount of $105,000, partially offset by payments on notes payable in the aggregate amount of $45,000.
Posted by CAPTNEMOS on :
At January 31, 2011, we had $3,000 in cash and cash equivalents and our current liabilities consisted of $239,772 in accounts payable and accrued expenses, $253,066 in notes payable and convertible notes, $1,352,265 in notes payable relating to the purchase of oil and gas property, and $536,663 in accrued officer salaries.
For the six months ended January 31, 2011, net cash used in operating activities was $141,342, inclusive of a $1,164,593 net loss for the six months ended January 31, 2011. Additional significant factors effecting cash flows from operations were depreciation charges of $9,878, common stock issuances for services totaling $430,183, a loss on settlement of debt in the amount of $225,000, amortization of debt discount totaling $62,463, a change in inventory of $52,291, an increase in accrued officer salaries in the amount of $225,833, and a change in accounts payable and accrued expenses amounting to $15,513.
Cash used in investing activities during the six months ended January 31, 2011 totaled $2,500, all of which related to the Company’s note receivable from a related party.
Net cash provided by financing activities was $60,000 for the six months ended January 31, 2011, resulting primarily from proceeds from notes payable in the aggregate amount of $105,000, partially offset by payments on notes payable in the aggregate amount of $45,000.
Posted by CAPTNEMOS on :
Our registered independent accounting firm expressed substantial doubt as to our ability to continue as a going concern in its report on the accompanying financial statements for the period ended January 31, 2011 based on the fact that we do not have adequate working capital to finance our day-to-day operations. Our continued existence depends upon the success of our efforts to raise additional capital necessary to meet our obligations as they come due and to obtain sufficient capital to execute our business plan. We intend to obtain capital primarily through issuances of debt or equity or entering into collaborative arrangements with corporate partners. There can be no assurance that we will be successful in completing additional financing or collaboration transactions or, if financing is available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we may be required to further scale down or perhaps even cease the operation of our business. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments. Our financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Posted by Homersbud on :
lol...such a pos.
Posted by CAPTNEMOS on :
yep/ive seen too many people put there savins into these stocks just to watch it dwindle.do your homework people.
Posted by mrchipper on :
$FOFU debt reduction , no share dilution Acquisitions, what are you people waiting for , Its amazes me that we have a current and transparent company and we cant get more peeps to see the value here
Posted by mrchipper on :
$FOFU Stats & Chart 4/1/2011
Total Volume Total Sales # of Sales Average PPS 40,781 $5,599.53 23 $0.13731 Price Shares Total $ % of Total Vol 0.13 15,981 $2,077.53 39.19% 0.14 19,800 $2,772.00 48.55% 0.15 5,000 $750.00 12.26%
Posted by mrchipper on :
$FOFU Stats & Chart 4/1/2011
Total Volume Total Sales # of Sales Average PPS 40,781 $5,599.53 23 $0.13731 Price Shares Total $ % of Total Vol 0.13 15,981 $2,077.53 39.19% 0.14 19,800 $2,772.00 48.55% 0.15 5,000 $750.00 12.26%
Posted by Homersbud on :
quote:Originally posted by mrchipper: $FOFU debt reduction , no share dilution Acquisitions, what are you people waiting for , Its amazes me that we have a current and transparent company and we cant get more peeps to see the value here
Why would anyone buy your sh!tty stock that you are getting paid to say everything that you posted in this thread? It's all bs, the stock is doing sh!t while you are FORCED to say this crap over and over and over again.
STAY AWAY!!!
Posted by mrchipper on :
another nice accumulation day for $FOFU as we saw buyers come in at support at the lower channel range, congrats to those who got those cheapies today. Dont wait for the financials to come out before you grab these cheapies. Folks do your home work on this one
Posted by Homersbud on :
quote:Originally posted by mrchipper: another nice accumulation day for $FOFU as we saw buyers come in at support at the lower channel range, congrats to those who got those cheapies today. Dont wait for the financials to come out before you grab these cheapies. Folks do your home work on this one
Wow, about 25k in vol. Someone is really buying up this pos.
Give it up, your worthless group is a joke.
Posted by mrchipper on :
$FOFU Force Fuels have NO SHARE CONVERSION DEBT – They need funds to drill their Proven Oil Reserves, but they are taking a different approach to getting those funds, they are offering a cut of the profits on individual wells in return for the funds needed to extract the oil – Brilliant! Not going to Accredited Investors who would recklessly dilute, killing shareholder value – Brilliant! FOFU is getting ready to open more wells, generating more revenues – Brilliant! Oil is at a current high of over $113 per barrel – Brilliant! With the current unrest in the Middle East, looking like it will escalate, pushing oil prices even higher – Brilliant! FOFU.OB is a fully reporting stock on the OTCBB – No Yeild Sign – No Stop Sign & No Caveat Emptor Sign on Pink Sheets – Brilliant! FOFU is trading at a price to fit all budgets, last trade on Friday @ 0.149 – Brilliant! FOFU has a Share Structure you dream about: As of last month - Outstanding Shares ONLY - 8.7M Float ONLY 4.3M – Brilliant!
Posted by Homersbud on :
quote:Originally posted by mrchipper: $FOFU Force Fuels have NO SHARE CONVERSION DEBT – They need funds to drill their Proven Oil Reserves, but they are taking a different approach to getting those funds, they are offering a cut of the profits on individual wells in return for the funds needed to extract the oil – Brilliant! Not going to Accredited Investors who would recklessly dilute, killing shareholder value – Brilliant! FOFU is getting ready to open more wells, generating more revenues – Brilliant! Oil is at a current high of over $113 per barrel – Brilliant! With the current unrest in the Middle East, looking like it will escalate, pushing oil prices even higher – Brilliant! FOFU.OB is a fully reporting stock on the OTCBB – No Yeild Sign – No Stop Sign & No Caveat Emptor Sign on Pink Sheets – Brilliant! FOFU is trading at a price to fit all budgets, last trade on Friday @ 0.149 – Brilliant! FOFU has a Share Structure you dream about: As of last month - Outstanding Shares ONLY - 8.7M Float ONLY 4.3M – Brilliant!
Brilliant is for the company to stop pissing money on you and your worthless IRP group to pump this stock when you haven't done anything.
Unlike the other board, you have no one to cry to ban me...LOL
Posted by Homersbud on :
FYI - if you bash any of the stocks mrchipper and his worthless IRP group is in, watch out for threats...LOL
Posted by Homersbud on :
Stocks up 50%, only a matter of time before this idiot mrchipepr comes back and brags about how great this stock is.
Stay away!
Posted by mrchipper on :
$FOFU getting my hiking boots on we are going for a trail ride . Holding support around .15
Posted by Homersbud on :
13.4k in vol...doesn't appear anyone wants to follow your worthless a$$ anywhere...LOL
Posted by CAPTNEMOS on :
value????maybe for you if your stuck holding it.Lol.
There is dilution.call their transfer agent and ask what the current share numbers are.acquisition.??? you need to read the 8k smart guy.they have to give all the revenues for the acquisition to those people for the 1.5 million they received and 10% advisory fee..read for yourself.this is a pos stock.
On 12 April 2011 the Company entered into a Letter of Intent Relating to Transaction (the “LOI”) with Duke Capital Management, LLC (“Duke”). There is no material relationship between the Company and Duke or any of their respective affiliates.
Under the terms of the LOI, subject to certain conditions, Duke will arrange for the investment of up to $1,500,000 in new oil wells to be developed by the Company. Repayment will be based on the payment of 100% of revenue from the oil pumped from the wells during the first 12-months, and then 30% for the following 60-months. The investment is conditioned on satisfying certain tax objectives; the execution of definitive agreements; and, the approval of the transaction by each party. Duke will be paid an advisory fee equal to 10% in cash; 5% in common stock of the Company; and, 5% in the form of two year warrants at market price.
The foregoing descriptions of the LOI do not purport to be complete and are qualified in their entirety by the terms and conditions of the LOI. A copy of the LOI is attached hereto as Exhibit 10.1 and is incorporated herein by reference. A copy of the press release issued by the Company with regard to the LOI is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Posted by CAPTNEMOS on :
and there other so called aqcuisitons ha.!!
On 30 March 2011 the Company entered into an Agreement Terminating Asset Purchase Agreement (the “Terminating Agreement”) with PEMCO, LLC (“Pemco”). The Company and Pemco had previously entered into an Asset Purchase Agreement dated 23 April 2010 (the “Purchase Agreement”) which was disclosed in a Form 8-K filed by the Company on 26 April 2010, with a copy of the Purchase Agreement attached to that Form 8-K as Exhibit 10.9. Exhibit 10.9 is hereby incorporated by reference into this current report as if actually attached to this current report as an exhibit.
The Terminating Agreement served to terminate all obligations of the parties under the Purchase Agreement. As such, the parties released each other from all remaining terms and provisions of the Purchase Agreement.
The Terminating Agreement also provides that the Company will sell to Pemco a fifty percent (50%) interest in four of the thirteen leases originally acquired by the Company under the Purchase Agreement. The Company will sell these interests for all amounts owed by the Company to Pemco and all other parties under the Purchase Agreement. The four leases are referred to as the Mann, Mann AB, Bayless, and Doebrook leases. With regard to the nine remaining leases originally acquired by the Company under the Purchase Agreement, Pemco will become the operator of drilling operations for each of those leases and subject to a separate development agreement to be executed in the future.
The foregoing descriptions of the Terminating Agreement do not purport to be complete and are qualified in their entirety by the terms and conditions of the Terminating Agreement. A copy of the Terminating Agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference. A copy of the press release issued by the Company with regard to the Terminating Agreement is attached hereto as Exhibit 99.1 and incorporated herein by reference.
B. Joint Venture Agreement:
On 30 March 2011 the Company entered into a Joint Venture Agreement (the “JV Agreement”) with PEMCO, LLC (“Pemco”). Under the JV Agreement the parties will work together to develop oil and gas leases located in Kansas and Oklahoma. The leases are the four leases owned jointly by the Company and Pemco (the “Joint Leases”), and the nine leases which the Company owns, known as the Ball, East Ball, Kelso, Moore, Smith, Bain, Clark, Thorne, and Pendleton (the “Company Leases”).
With regard to the Joint Leases, (i) revenue (after operating expenses) generated from existing operations will be divided equally between Pemco and the Company; (ii) any new development be funded by the Company and the execution plan will be performed by Pemco; and, (iii) revenue (after operating expenses and cost of financing) generated from the new development will be allocated seventy five percent (75%) to the Company and twenty five percent (25%) to Pemco.
With regard to the Company Leases, (i) the Company and Pemco will use their respective best efforts to develop these leases; and, (ii) revenue (after operating expenses and cost of financing) generated will be allocated seventy five percent (75%) to the Company and twenty five percent (25%) to Pemco.
The foregoing descriptions of the JV Agreement do not purport to be complete and are qualified in their entirety by the terms and conditions of the JV Agreement. A copy of the JV Agreement is attached hereto as Exhibit 10.2 and is incorporated herein by reference.
Posted by CAPTNEMOS on :
after all things paid out will they have enough to cover $600,000 there losing every quarter.So looks like for this company to be profitable is going to be highly unlikly.so basically your profit to earning ratio is garbage.but what do i know
Posted by CAPTNEMOS on :
this reminds me of the old ttog.titan oil and gas.
Posted by Homersbud on :
quote:Originally posted by CAPTNEMOS: this reminds me of the old ttog.titan oil and gas.
LOL, I remember that worthless POS.
Posted by CAPTNEMOS on :
not to many people i see around here were here back then.was like ttcs then rev merg to act tnog i think now there tngs.Had all these great fields to explore and was going to be the next best thing since sliced bread.But had constantly release shares to keep it going then when they ran out they reverse merger.Even the investor relation guy we used to speak swore the wouldnt do a reverse merger,being they had used up almost all of there alloted shares.
Posted by CAPTNEMOS on :
January 31, 2011 July 31, 2010
(Unaudited)
ASSETS
CURRENT ASSETS:
Cash
$
3,000
$
86,842
Account receivable, net
-
7,451
Inventory, net
29,689
81,980
Deposits and prepaid expenses
2,723
10,000
Note receivable - related
2,500
-
Total Current Assets
37,912
186,273
LONG-TERM ASSETS: Deposits
12,638 -
Oil and gas property, net
1,259,070
1,258,292
Property and equipment, net
123,483
133,361
Total Long-Term Assets
1,395,191
1,391,653
Total Assets $
1,443,103
$
1,577,926
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES:
Accounts payable and accrued expenses
$
239,772
$
224,258
Notes payable, net
253,066
139,747
Convertible notes payable, net
25,000
-
Notes payable for acquisition of oil and gas property, net
1,352,265
1,368,121
Accrued officer salaries
536,663
310,830
Total Current Liabilities
2,406,766
2,042,956
NON CURRENT LIABILITIES:
Asset retirement obligation
37,400
36,622
Total Non Current Liabilities
37,400
36,622
Total Liabilities
2,444,166
2,079,578
STOCKHOLDERS' DEFICIT:
Preferred stock at $0.001 par value: 1,000,000 shares authorized;
none issued or outstanding
-
-
Common stock at $0.001 par value: 100,000,000 shares authorized;
8,541,875 and 6,475,129 shares issued, respectively
8,542
6,475
Additional paid-in capital
3,196,633
2,543,518
Deficit accumulated during development stage
(4,216,238)
(3,051,645)
Total Stockholders' Deficit
(1,011,063)
(501,652)
Total Liabilities and Stockholders' Deficit
$
1,443,103
$
1,577,926
The accompanying notes are an integral part of these consolidated financial statements. F-2 FORCE FUELS, INC. AND SUBSIDIARY (A DEVELOPMENT STAGE COMPANY) CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
For the Period
from July 15,
For the Three Months Ended For the Six Months Ended 2002 (inception) January 31, January 31, through January 2011 2010 2011 2010 31, 2011
REVENUES:
Oil and gas
$
8,909
$
-
$
41,758
$
-
$
49,209
COST OF SALES
9,712
-
52,291
-
52,291
GROSS PROFIT (LOSS)
(803)
-
(10,533)
-
(3,082)
OPERATING EXPENSES:
Well operating costs
15,000
-
30,394
-
55,394
Depreciation on well operating equipment
4,939
-
9,878
-
9,878
Research and development
-
-
-
-
115,434
Salary and wages - officers
120,328
17,500
221,160
72,500
550,740
Impairment of intellectual property rights
-
-
-
-
344,000
Stock based compensation
-
410,210
-
335,210
494,933
General and administrative expenses
401,538
116,642
589,185
175,362
1,963,533
Total operating expenses
541,805
544,352
850,617
583,072
3,533,912
NET LOSS FROM OPERATIONS
(542,608)
(544,352)
(861,150)
(583,072)
(3,536,994)
OTHER INCOME (EXPENSES) :
Loss on settlement of debt
-
-
(225,000)
-
(535,014)
Loss on disposal of assets
-
-
-
-
(19,915)
Interest expense
(16,204)
(2,802)
(78,443)
(4,573)
(124,315)
Total other income (expenses)
(16,204)
(2,802)
(303,443)
(4,573)
(679,244)
NET LOSS BEFORE TAXES
(558,812)
(547,154)
(1,164,593)
(587,645)
(4,216,238)
INCOME TAXES
-
-
-
-
-
NET LOSS
$
(558,812)
$
(547,154)
$
(1,164,593)
$
(587,645)
$
(4,216,238)
NET LOSS PER COMMON SHARE
- BASIC AND DILUTED:
$
(0.07)
$
(0.10)
$
(0.16)
$
(0.10)
Weighted Average Common Shares Outstanding
- basic and diluted
7,966,875
5,472,541
7,508,502
5,911,967
Posted by CAPTNEMOS on :
Common Stock
On October 1, 2009, the Company issued 1,000,000 shares of its Common Stock to the Company’s chief executive officer as a signing bonus for entering into an Employment Agreement dated October 1, 2009. The shares were valued at $0.30 per share, or $300,000 in the aggregate.
On January 28, 2010, the Company issued 1,122,366 shares to various consultants for services provided to the Company. The shares were valued at $0.30 per share, or $336,710 in the aggregate.
On March 16, 2010 and March 30, 2010 the Company issued 172,000 shares, of its common stock to various consultants for services provided to the Company. The shares were valued at $0.30 per share, or $51,600 in the aggregate.
Between March 1 and April 30, 2010 the Company issued 138,000 shares of common stock upon conversion of convertible promissory notes at an average price of $4.07 per share, or $561,613 in the aggregate.
On June 25, 2010 the Company issued 150,000 shares of common stock as an inducement to an unrelated third-party lender. The shares were valued at at $0.89 per share, or $133,500 in the aggregate.
On July 31, 2010 the Company issued 10,000 shares of common stock upon conversion of convertible promissory notes at a price of $0.94 per share, or $9,400 in the aggregate.
During the year ended July 31, 2010 the Company cancelled 3,800,000 previously issued shares of common stock.
In August, 2010 the Company issued 50,000 shares of common stock for prepaid consulting services valued at the market rate of $0.65 per share, or $32,500 in the aggregate.
In August, 2010 the Company issued 31,746 shares of common stock for consulting services rendered at $1.05 per share, pursuant to a consulting agreement. The shares were valued at $33,332 in the aggregate.
In August, 2010 the Company issued 100,000 shares of common stock for consulting services at the market rate of $0.65 per share, or $65,000 in the aggregate.
In September, 2010 the Company issued 500,000 shares of common stock upon the default of a note payable. The shares were valued at the market rate of $0.45 per share, or $225,000 in the aggregate.
In September, 2010 the Company issued 60,000 shares of common stock as a loan inducement fee. The shares were valued at the market rate of $0.26 per share, or $15,600 in the aggregate.
In October, 2010 the Company issued 150,000 shares of common stock as payment for prepaid consulting fees valued at the market rate of $0.45 per share, or $67,500 in the aggregate.
In October, 2010 the Company issued 25,000 shares of common stock for services rendered. The shares were valued at the market rate of $0.45 per share, or $11,250 in the aggregate.
In November, 2010 the Company issued 300,000 shares of common stock for services rendered. The shares were valued at the market rate of $0.35 per share, or $105,000 in the aggregate.
In December, 2010 the Company issued 150,000 shares of common stock for services rendered. The shares were valued at the market rate of $0.20 per share, or $30,000 in the aggregate.
In January, 2011 the Company issued 700,000 shares of common stock for services rendered. The shares were valued at the market rate of $0.10 per share, or $70,000 in the aggregate.
F-14 FORCE FUELS, INC. (A Development Stage Company) Notes to the Consolidated Financial Statements January 31, 2011 and July 31, 2010
NOTE 6 – FORMATION OF SUBSIDIARIES
On May 5, 2010 the Company formed Force Fuels Services, Inc., a Kansas entity (“FFS”) as a wholly-owned subsidiary of the Company. On September 13, 2010 the Company formed Cheetah Motor Corp., a Nevada entity (“Cheetah”), as a wholly-owned subsidiary. Both FFS and Cheetah were formed so as to allow the Company the opportunity to explore additional business opportunities in the green energy industries.
NOTE 7 – SUBSEQUENT EVENTS
On February 18, 2011 the Company issued 200,000 shares of common stock to an unrelated third-party entity for services rendered. The shares were valued at market, resulting in an aggregate expense of $30,000.
In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and there are no subsequent events to report other than the event listed in the proceeding paragraph.
F-15 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Plan of Operations
Assignment and Contribution Agreement between the Company and ICE Conversions, Inc. On July 31, 2008 we entered into an assignment and contribution agreement (“Assignment and Contribution Agreement”) with Lawrence Weisdorn and ICE Conversions, Inc. to operate a business engaged in the development, manufacture and marketing of electric drive systems for installation in short-haul commercial trucks. The transactions consummated by the Assignment and Contribution Agreement include:
(a) The contribution, transfer and license of certain assets and intellectual property rights of ICE to the Company;
(b) The issuance of 1,000,000 shares of Common Stock to ICE; by subsequent agreement 600,000 of these shares were returned to the Company for cancelation on December 9, 2009.
(c) Confirmation of the previous issuance of 2,500,000 shares of Common Stock to Lawrence Weisdorn pursuant to a consulting agreement; by subsequent agreement these shares were returned on, August 31, 2009, for cancelation.
(d) Cash payment of $400,000 from the Company to ICE, made payable as follows: 100,000 on or before March 15, 2009 and $300,000 on or before June 15, 2009.
(e) on January 30, 2009 ICE agreed to extend the timeline for the $400,000 cash payment to allow Force Fuels to make eight separate installment payments, each in the amount of $50,000, due on or before the last day of each quarter of Force Fuel’s fiscal year, commencing with the first installment due on or before October 31, 2010 and the eighth and final payment due on or before January 31, 2012.
The Assignment and Contribution Agreement replaced the Joint Venture Agreement dated May 12, 2008. Five hundred thousand (500,000) of the 1,500,000 shares previously issued to ICE were to be cancelled on July 31, 2008, pursuant to the terms of the Assignment and Contribution Agreement.
In June 2010, the agreement was amended effective April 2010. By virtue of that amendment, the Company returned to ICE all of the intellectual property rights described above and received, in exchange, intellectual property rights for the development of a hydrogen/electric hybrid automobile. For this non-monetary exchange of assets, the fair value of neither the asset received nor the assets relinquished is determinable within reasonable limits and hence, the new asset was recorded at the book value of the relinquished asset. In addition, ICE cancelled the $400,000 debt owing to ICE for the acquisition of the above referenced intellectual property rights The Company intends to pursue the development of this new intellectual property, per the discussion below, however, because ofr the inability to determine the fair value of the asset, the specific timing of its development, and the lack of certainty regarding the Company’s ability to fund the project, management fully impaired the asset.
The Company changed the focus of its business plan and on April 23, 2010 signed an agreement with Pemco, LLC to begin the process of engaging in the new direction. The primary products of the Company will be regulated and standardized energy-based products, which do not require a significant marketing or sales force. These energy-based products include traditional hydrocarbon-based oil and gas, as well as “green” or “alternative” energy, which includes solar and wind.
In the oil and gas field, the Company focuses on: 1) the purchase of marginally producing shallow oil wells, which are relatively inexpensive to operate and can be optimized with existing technologies; 2) the purchase of leases with potential for additional drilling in proven producing areas; and 3) the acquisition of in-house know-how to further optimize production through stimulation, refurbishing and site optimization.
The strategy of the Company is to invest principally in the acquisition or installation of energy-based assets that can contribute immediately and substantially to cash flow through sales to local energy companies, thus only requiring external or government financing for subsequent acquisitions and not for operating expenses.
1 In the short term, the Company will focus on maximizing revenue from its recent acquisition of over 2,600 acres of oil producing land leases with 49 oil strippers and 5 natural gas sites located in southern Kansas.
Subsequently, in the field of electrical energy production, the Company will focus solely on the exploitation of proven and established technologies that can generate a positive return on investment and tax benefits applicable to green energy and oil revenues. While naturally taking full advantage of current government assistance and incentives, placing a significant premium on the economic self-sustainability of all our projects and how new technologies and policies may affect us.
The Company intends to continue to leverage its Intellectual Property assets through further development, expansion and marketing of the technology licensed from ICE Conversions, Inc. This development will be implemented through the creation of a fully owned subsidiary.
This drive train technology consists of a proprietary, zero emission hydrogen fuel cell/electric battery hybrid drive system. and relies on hydrogen fuel cells to produce electricity and acts as a range extender for electric drive vehicles. The Company is currently in the process of selecting a manufacturer to build the first prototypes. The Company intends to combine components purchased from various suppliers and partner those items with its proprietary technology and integrate all of the parts into complete electric drive vehicles.
Going Concern
Our registered independent accounting firm expressed substantial doubt as to our ability to continue as a going concern in its report on the accompanying financial statements for the period ended January 31, 2011 based on the fact that we do not have adequate working capital to finance our day-to-day operations. Our continued existence depends upon the success of our efforts to raise additional capital necessary to meet our obligations as they come due and to obtain sufficient capital to execute our business plan. We intend to obtain capital primarily through issuances of debt or equity or entering into collaborative arrangements with corporate partners. There can be no assurance that we will be successful in completing additional financing or collaboration transactions or, if financing is available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we may be required to further scale down or perhaps even cease the operation of our business. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments. Our financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Posted by mrchipper on :
$MXMI do not Ignore this break out chart folks. its a no brainer this monster is under a massive accumulation process, If you have noticed that this stock has held gains for 10 DAYs, yes I said 10 Days, how many stocks at this price can you say that about. MFI is holding 90 folks. I have been yelling this stock since I interviewed the ceo some time ago. Dont let this get away from you, also notice the volume yesterday increased 300% from the previous 5 or 6 days. Enough said, this will blow up this following week and when it does ,you peeps follow me back to our site.
Posted by mrchipper on :
$FOFU 62K worth friday and we again see another nice accumulation week as we wait for production #s from the 25 wells reopenrd
Posted by Homersbud on :
quote:Originally posted by mrchipper: $FOFU 62K worth friday and we again see another nice accumulation week as we wait for production #s from the 25 wells reopenrd
You idiot, this stock has done absolutely nothing and will continue.
Why are you pumping another POS on this thread? How stupid are you?
FLTT....When's the next RS? Stock continues to hit new lows while you and the rest of that worthless group collect your $120k you scammed from everyone....how can you even look in the mirror?
Posted by CAPTNEMOS on :
quote:Originally posted by mrchipper: $MXMI do not Ignore this break out chart folks. its a no brainer this monster is under a massive accumulation process, If you have noticed that this stock has held gains for 10 DAYs, yes I said 10 Days, how many stocks at this price can you say that about. MFI is holding 90 folks. I have been yelling this stock since I interviewed the ceo some time ago. Dont let this get away from you, also notice the volume yesterday increased 300% from the previous 5 or 6 days. Enough said, this will blow up this following week and when it does ,you peeps follow me back to our site.
ooo can i know what site?u interviewed the ceo.lmao.You dont have the behavior associated with interviewing the ceo.company is paying a dividend.The stock is way overpriced.i have seen stock that sells for alot less have better books. Posted by CAPTNEMOS on :
quote:Originally posted by mrchipper: $FOFU 62K worth friday and we again see another nice accumulation week as we wait for production #s from the 25 wells reopenrd
you dont even know your head from your a$$ in this trade go home little boy with all your loser associates.cant pick a good stock if their life depended on it.just pump then dump.And that means your screwing or have screwed over alot of people with your crap.every stock i have seen you run the bottom falls out doesnt sustain anything positive. Posted by Bob Frey on :
The company and the stock not each other please!
Posted by CAPTNEMOS on :
Yes sir.just want people not to fall into his trap of good folks left holding the bag,
Posted by Homersbud on :
quote:Originally posted by Bob Frey: The company and the stock not each other please!
Sorry, but people need to know about this guy and what his worthless group does. It's bad enough the CEOs of all of these pos companies are shady, but to have people like this come in to pump a worthless stock because they are getting paid to while the company dump shares on anyone who buys into their worthless pump.
FLTT prime example of why this idiot/group needs to get the fawk outta here.
Posted by CAPTNEMOS on :
what value.they have to keep diluting to keep the sinking ship afloat.
Our registered independent accounting firm expressed substantial doubt as to our ability to continue as a going concern in its report on the accompanying financial statements for the period ended January 31, 2011 based on the fact that we do not have adequate working capital to finance our day-to-day operations. Our continued existence depends upon the success of our efforts to raise additional capital necessary to meet our obligations as they come due and to obtain sufficient capital to execute our business plan. We intend to obtain capital primarily through issuances of debt or equity or entering into collaborative arrangements with corporate partners. There can be no assurance that we will be successful in completing additional financing or collaboration transactions or, if financing is available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we may be required to further scale down or perhaps even cease the operation of our business. The issuance of additional equity securities by us could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments. Our financial statements do not include any adjustments that might result from the outcome of this
Posted by TruthLiesWithin on :
I avoided tnog. I remember that pig, as well as many other garbage oil plays. And gold plays.
Took a hiatus because of so much stress over the years With SEC complaints, calls to the FBI over mafia run stocks i got scammed on. Outed several message board pumpers and scammers, including some big time scum. 2 had heart attacks, but lived to tell about it.
I enjoyed my time off, after 18 years of trading i see i havent missed much. QBID anyone. ? LOL.
Capt and Homer, you two are great, your incite is on par.
FOFU yuck.
Posted by CAPTNEMOS on :
sound like youre a busy man.lol.Thanks truth
Posted by mrchipper on :
$FOFU has shook out the weak hands as we wait for production #s from the 25 or so wells they have reopened
Posted by Homersbud on :
quote:Originally posted by mrchipper: $FOFU has shook out the weak hands as we wait for production #s from the 25 or so wells they have reopened
LMAO...completely fawkin worthless you are.
Posted by mrchipper on :
COSTA MESA, Calif., June 7, 2011 /PRNewswire via COMTEX/ -- Force Fuels, Inc. (OTC: $FOFU) announces that they have scheduled another 5 existing oil wells that have been shut in for several years on properties located in Montgomery County, Kansas. Investors have funded Force Fuels to meet their goals. Production numbers are estimated from 1 barrel per day (BPD) to 6 BPD.
"I am amazed at the response we are having from our Investor base as well as the success with the shut in wells. The next process once we meet the 50 well goal, is to begin a water stimulation program on certain groups of wells existing. As we said in our prior press releases, we anticipate our current results doubling even tripling production on those wells. Force Fuels goals are to open as many as 50 wells during 2011," said Thomas Hemingway, President and CEO.
With the cost of a barrel of oil stabilizing around the $100 price each well produces from $3000 per month on the lower producing wells to $18,000 per month on the stimulated wells. These are wells that are currently drilled and placed in a state of non-production. Force Fuels has entered into a new and exciting market by reopening these wells and defining a market for the small to medium sized oil companies. Thousands of Pump Jacks exist in shallow wells throughout Kansas and Oklahoma. These wells have joined a way to supply oil to the United States, utilizing existing infrastructures.
Posted by Homersbud on :
Moron, you were pumping this when it was in the teens, now it's below .10 and you are still trying to pump? Didn't you screw enough people already?
Another epic failed pump...LOL
Posted by Homersbud on :
Stock up 40%....are these idiots actually using their $10k to push up the stock? Would be a first...lol
Posted by metal1 on :
Can't we close this thread? Chipper is an obvious pumper. Don't let this board get any worse than it's already gotten.
Posted by Homersbud on :
quote:Originally posted by metal1: Can't we close this thread? Chipper is an obvious pumper. Don't let this board get any worse than it's already gotten.
He needs to be banned. It's different if you state that you are getting paid, but he doesn't do any of that sh!t. At least people are aware that he's a worthless pumper.
![[Big Grin]](biggrin.gif)
![[More Crap]](graemlins/morecrap.png)
![[BadOne]](graemlins/headbash.gif)