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Author Topic: TSRG huge gapper, Deal with W. Buffet?
followmypicks03
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TSRG has major deal cooking with Warren Buffett last stock I bought dealing with Buffet was WMB 2 yrs ago I bought .76-1.00 on that and it ran to over 11.00.

TSRG could easily see .05-.10 by next week!


Posts: 131 | From: brillion, wisconsin, USA | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
furriog
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Where did you get the info about a deal with Warren Buffet? Is there a link to the info?
Posts: 83 | From: Ripley, Tennessee, United States | Registered: Feb 2004  |  IP: Logged | Report this post to a Moderator
TimN88
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What do you mean deal with Warren Buffet? Are you suggesting that he is investing in the company? If that is what you are trying to say i think you, or whoever said that is full of sh1t. Mr. Buffett only invests in companies that have been around for a long time. This is why he missed the dotcom bubble (fortunately for him).
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Love the Market
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Notice : NEW Member



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killpack
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Same Horse canoodle on RB. Me thinks I smell manure.
Posts: 123 | From: anchorage, ak. usa | Registered: Jan 2004  |  IP: Logged | Report this post to a Moderator
furriog
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TSRG filed their 10k 04/02/04

State the issuer's revenues for its most recent fiscal year. $2,015,012

State the aggregate market value of the voting stock held by non-affiliates computed by reference to the price at which the stock was sold, or the average bid and ask prices of such stock as of a specified date within 60 days. $2,102,996 (Based on price of $0.008 per share on March 30, 2004)

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date.

(Class, Common Stock, Par Value $.001 per share)

Outstanding as of December 31, 2003 269,010,438)

Description of Business

Trans Energy, Inc. is engaged in the transportation, marketing and production of natural gas and oil, and certain exploration and development activities. We own interests in seven oil and gas wells in West Virginia and an ointerest in seven wells in Wyoming that we do not operate. We also own and operate an aggregate of over 100 miles of three inch, 4 inch and 6inch gas transmission lines located within West Virginia in the Counties of Ritchie, Tyler, and Pleasants. This pipeline system gathers the natural gas produced from these wells and from wells owned by third parties. We also have approximately 14,000 gross acres under lease in the Powder River Basin in Campbell, Crook and Weston Counties, Wyoming.

In 1998, we purchased from GCRL Energy, Ltd. all of its interest in the Powder River Basin in Campbell and Crook Counties, Wyoming, consisting of interests in five wells, four of which are producing, interests in 30,000 leasehold acres, and interests in approximately seventy-three miles of 3-D seismic data. The properties include three producing fields from Minnelusa Sandstone and were discovered on 3-D seismic. during 1999, the sagebrush 3 well was drilled in the Sagebrush field in Campbell County Wyoming. It will be used as a water disposal well for the Sagebrush #1 and #2. It is anticipated that the Sagebrush #3 will be put into operation as an injection well for the water flood during the sumer of 2004.

Our principal executive offices are located at 210 Second Street, P.O. Box 393, St. Marys, West Virginia 26170, and our telephone number is (304) 684-7053.

Business Development

In 2001, we continued our interest in the Trenton - Black River deep gas field in the Appalachian Basin in West Virginia. We believes that this area may become active in the counties in which we operate. We continue to focus much of our efforts in this area to take advantage of the situation if the opportunity becomes available. In 1999, we sold many of our Appalachian Basin assets and purchased 51% of a producing well in the Powder River Basin in Wyoming. We then focused our attention toward developing our acreage in the Powder River Basin in wyoming and drilling for deep gas in the Trenton- Black River area.

Our business strategy is to economically increase reserves, production and the sale of gas and oil from existing and acquired properties in the Powder River Basin, Appalachian Basin and elsewhere, in order to maxiie shareholders' return over the long term. Our strategic location in West Virginia enables us to actively pursue the acquisition and development of producing properties in that area that will enhance our revenue base without proportional increases in overhead costs.

On December 31, 2003, we sold our 75% working interest ownership in five oil and gas wells located in Tyler County, West Virginia to Ultra-Light Investments for $380,000. Of the total proceeds, $30,000 was used to pay off existing debt on the wells. The balance of $350,000 was used to settle an ongoing dispute with Baker Hughes oilfield operations, Inc. d/b/a/ Baker Hughes Inteq, Western Geophysical, a division of Western Atlas International, Inc. The$350,000 was considered as payment in full and we were given a release of all judgments and liens against us in the matter.

The following is a summary of our oil and gas assets including wells and pipelines that we acquired in September 1993:

Tyler Construction Company, Inc.

We acquired an interest equal to 65% of the total outstanding shares of Tyler Construction Company from Loren E. Bagley and William F. Woodburn, both of whom are directors of Trans Energy. Tyler Construction owns and operates a natural gas gathering pipleine system serving the industrialized Ohio Valley, initially consisting of approximately 27 miles of 6-inch pipeline and 10 miles of 4-inch pipline.

Tyler Construction's trunk line system consists of 6-inch pipeline that begins at the town of St. marys, West Virginia, located on the Ohio River in the County of Pleasants in western West Virginia, and proceeds twenty-seven miles due east to Bradden Station, West Virginia. Near Bradden Station, the pipeline intercepts major transmission lines of Equitable Natural Gas, Dominion Transmission, Inc. and Eastern American Energy. An intercepting line consisting of ten miles of 4-inch pipeline begins at a point eight miles east of St. Marys and proceeds north 10 miles to an industrial park located seven miles south of Sistersville, West Virginia. At this point, gas is delivered to OSI Specialties (formerly Union Carbide) and comsolidated Aluminum Corporation of America under a marketing agreement with Sancho. Pursuant to our agreement with Sancho, we have the right to sell natural gas subject to the terms and conditions of a 20-year contract, as amended, that Sancho entered into with Hope Gas, Inc. in 1988. This agreement is a flexdible volume supply agreement whereby we receive the full price which Sancho receives less a $.05 per mcf marketing fee paid to Sancho. The price of the natural gas is based upon the residential gas index and the inside F.E.R.C. CNG Index.

On February 28, 2003 we sold 7.6 miles of the 6-inch pipeline to PC Pipeline, Inc., located in Morgantown, West Virginia. In consideration for the sale, we received 35% of the outstanding stock of Tyler Construction from Ecological Energy, Inc., an affiliate of PC Pipeline. As a result of the transaction, we now own 100% of the capital stock of Tyler construction.

Slso on february 28, 2003, we sold 10 miles of the 4-inch pipeline to Triad Energy Corporation, located in marietta, Ohio, for the cash consideration of $270,000. Proceeds from the sale were used to pay down existing short and long-term debt.

On March 17, 2004, Tyler Construction sold 16,000 feet of 6-inch pipeline located in Pleasants and Tyler Counties, West Virginia for $70,000. Tyler Construction also sold 30,096 feet of 4-inch pipeline located in Pleasants and Ritchie Counties, West Virginia for $130,000. The buyer in both instances was Triad Energy Corporation of Reno, Ohio. of total proceeds, $161,391 was used to pay off the bank debt of the pipelines and the balance was used as operating capital. Following the sale, we retain approximately 16.3 miles of 6-inch pipline in Tyler County.

Spencer Wells

We acquired all rights, title and interest to six producing oil and gas wells located in West Virginia, in exchange for shares of Trans Energy common stock. five of the wells identified as "Fowler," "Goff," "Locke," "McGill" and "Workman" are situated in ritchie County in a proven Resevoir field. The remaining well identified as "Spencer," is located in Tyler County. All six wells were completed in 1991 and have been producing oil and gas through the date hereof. In 1999, Five of these wells were sold to an unaffiliated third party and in 2000, the sixth well was sold to an unaffiliated third party.

The Pipeline, Ltd.

We acquired from Tyler Pipeline, Inc. all rights, title and interest in the natural gas gathering pipline system known as The Pipeline, Ltd. (The name of the pipeline, not a legal entity), a 4-inch pipline that begins at Twiggs, West Virginia, nine miles east of St. Marys, West Virginia where it intercepts Tyler Construction's trunk line system and proceeds due south for a distance of six miles. The Pipeline, Ltd. System is used for purchasing gas from ghird party producers. Mr. Woodburn, our secretary / Treasurer and a director, is also President and owns 50% of Tyler Pipeline. Mr. Bagley, our Vice President and a director, also owns 50% of Tyler Pipeline.

ritchie County Gathering Systems, Inc.

We acquired all the issued and outstanding capital stock of Ritchie County Gathering Systems, Inc., a West Virginia corporation. ritchie County Gathering owns and operates a 4-inch natural gas gathering line which bigins give miles south of Cairo, West Virginia at Rutherford, and proceeds due south for 4.6 miles, crossing Mellon Ridge and ending at Macfarlan Creek approximately 1/2 mile north of the South Fork of the Hughes River. The Ritchie County Gathering pipeline is used for purchasing gas from third party producers and delivering such gas to Hope Gas.

Powder River Basin Wyoming

On March 6, 1998, we entered into an agreement to purchase from GCRL Energy, Ltd. all of its interest in the Powder River Basin in Campbell and Crook Counties, Wyoming, consisting of interests in five wells, four of which are producing, interests in 30,000 leasehold acres, and intersts in approximately sventy-three miles of 3-D seismec data. The properties include three producing fields from Minnelusa Sandstone and were discovered on 3-D seismic. We made an initial payment for the properties of $50,000 and the balance of $2,987,962 was paid for with proceeds from the sale of debentures.

The follwing table sets forth information concerning the existing oil production per day of the producing wells located on the GCRL property.

Name of Well, Sgebrush Fed #1, Gross Bbls. oil per day 47, Net % to TSRG 48.8%, Net Bbls. to TSRG 23/ Sagebrush Fed #2, Gross Bbls. oil Per Day 0, Net % to TSRG 47.5%, Net Bbls. to TSRG 0/ Pinon Fee#1, GrossBbls. Oil Per Day 16, Net % to TSRG 51.2%, Net Bbls. to TSRG 8/ Swartz Draw, Gross Bbls. Oil Per Day 34, Net % to TSRG 15.4%, Net Bbls. to TSRG 5/Total GrossBbls. Oil Per day 97/Net Bbls. to TSRG 36

Current Business Activities

We operate our oil and natural gas properties and transports and markets natural gas through our transmission systems in West Virginia. Although management desires to acquire additional oil and natural gas properties and to become more involved in exploration and development, this can only be accomplished if we can secure future funding. management intends to continue to develop and increase the production from the oil and natural gas properties that it currently owns.

Although we will continue to transport and market natural gas through our various pipelines, there are no current plans to acquire or to lay any additional pipeline systems in 2003. Apart from one well drilled in the Powder River basin in Wyoming (Sagebrush #3) and the seven re-entry Benson wells drilled in West Virginia, we have not participated in any new wells in the last four years.

Powder River Basin Wyoming - Prima

On December 28, 1996, we purchased 420 acres in the Powder River basin in Wyoming for $50,000 from an unaffiliated third party. Included in the purchase price. On february 3, 1997 we leased an additional 480 acres that joined with our acreage position. the target formation is the Minnelusa "B1" sand. There presently are no producing wells on such acreage and proved reserves located on the acreage owned by us.

Five two-demensional ("2-D") seismic lines and a 6-square mile three-dimensional ("3-D") seismic program have been shot across the acreage now held by us. Unlike 2-D seismic testing which provides a cross-sectional view of the subsurface of the Earth, 3-D testing provided a full, three-dimensional view of the subsurface. such views allow for greater precision in the location of potential drilling sites. 3-D testing allows potential drillers to obtain accurate estimates of the size of oil and gas bearing structures and the profile of the structure. 2-D testing only informs the driller that an oil and gas bearing structure is in a particular area, without giving information as to size and shpe. Without an accurate estimate of the size of the oil and gas bearing structures, it is difficult toaccurately estimat the reserves in the structure, and, thus, theeconomic viability of drilling into a particular structure. Without an accurate profile of the structure, a driller may not hit the most economic portion of the structure.

Water pressure primarily is responsible for the movement of oil within the areal of our acreage. Where water pressure is the cause of oil movement, finding the apex of the oil bearing structure is critical. Drilling into the apex of such a structure usually assures that a maximum amount of oil, and a minimal amount of water, will be recovered from a well. Hitting such a zone elsewhere than at the apex will result in alower proportion of oil to water and reduced rates of recovery.

We completed drilling the Fowler 22-8 in January 1998 and determined the well to be adry hole and was plugged. We have not done further drilling on the acreage.

Powder River Basin Wyoming - Wolffe Prospect

In 1997, we purchased a 30% working interest in the Wolffe Prospect in the Powder River Basin in Campbell County, Wyoming for $65,000 from an unaffiliated third party. Included in the purchase price was a 30% working interest in the Wolffe #1-35 well and 30% interest in 240 acres. In October 1997, we participated in our shore of the drilling of the Horizon 32-35 well. The target formation was the Minnelusa "B1" sand. the well was determined to be a dry hole and plugged. On November 15, 1999, we purchased for $16,000 an additional 51% working interest in the Wolff 1-35 well from Renor Exploration Limited. In September 2002, we transferred this well to an unaffiliated third party in settlemnt of a lawsuit.

Sistersville

In 1995, we purchased approximately 2,200 acres in a known producing field located near Sistersville, West Virginia for $100,000. The Sistersville field has been in operation since the 1890's although at a very low level for the past several years. to date the field has produced over 13 million barrels of oil. The field contains portions of the Bin Injun and Keener sands formations, both well known oil and gas bearing formations, which are the zones we intend to explaore. These formations are approximately 1,700 feet deep. Recoverable reserves of oil in the field are estimated at several million barrels. We drilled a well on the sisterville acreage in April 1997. In 1999, we sold the Sistersville field for $125,000 to an unaffiliated third party.

Research and Development

We have not allocated funds for conducting research and development activities and, due to the nature of our business. We do not anticipate allocating funds for research and development in the immediate future.

Marketing

We operate exclusively in the oil and gas industry. natural gas production from wells owned by us is generally sold to various intrastate and interstate pipeline companies and natural gas marketing caompanies. sales are generally made on the spot market or under short-term contracts (one year or less) providing for variable or market sensitive prices. These prices often are tied to natural gas futures contracts as posted in national publications.

natural gas delivered through our pipeline network is sold through the Sanco Oil and Gas Corporation contract to the industrial facilities near Sistersville, West Virginia, or to Hope Gas, a local utility. Some of the gas is sold at a fixed price on a year long basis and some at a variable price per month per Mcf. Under our contract with Sancho, we have the right to sell natural gas subject to the terms and conditions of a 20-year contract, as amended, that Sancho entered into with Hope Gas in 1988. This agreement is a flexible volume supply agreement whereby we receive the full price which Sancho cahrges the end user less a $.05 per Mcf marketing fee paid to Sancho. The price of the natural gas is based upon the greater of the residential gas commodity index and published Inside F.E.R.C. Index, at our option, for the first 1,500 mcf prchased per day by Hope Gas and thereafter the price is the insid F.E.R.C. Index. The residential gas commodity index does not directly fluctuate with the overall price of natural gas. The Inside F.E.R.C. Index fluctuates monthly with the change in theprice of natural gas. while such option provides certain price protection for us, there can be no assurance that prices paid by us to suppliers will be lower than the prices which we would receive under the Hope Gas arrangement. Prior to June1, 1996, the price was the residential gas commodity index and when the market price of gas rose above such index, our abiligy to purchase gas from third parties was adversely effected.

We sell our oil production to third party purchasers under agreements at posted field prices. these third parties purchas the oil at the various locations where the oil is produced.

Although management believes that we are not dependent upon any one customer, our marketing arrangement with Sancho accounted for approximately 82% of our revenue for the year ended December 31, 2003, and approximately 26% for the year ended December 31, 2002. This marketing agreement is in effect until September 1, 2008.

In addition to the natural gas produced by our wells, we also purchased approximately 500Mcf of natural gas per day in 2003.

Competition

We are in direct competition with numerous oil and natural gas companies, drilling and income programs and partnerships exploring various areas of the Appalachian and Powder River Basins and elsewhere, and competing for customers. Many competitors are large, well-known oil and gas and/or energy companies, althoug no single entity dominates the industry. many of our competitors possess greater financial and personnel resources enabling them to identify and acquire more economically desirable energy producing properties and drilling prospects than us. Additionally, there is competition from other fuel choices to supply the energy needs of consumers and industry. Management believes that there exists a viable market place for smaller producers of natural gas and oil and for operators of smaller natural gas transmissions systems.

Under our contract with Sancho, we have the right to sell natural gas subject to the terms and conditons of a 20-year contract, as amended, that Sanco entered into with Hope Gas in 1988. This agreement is a flexible volume supply agreement whereby we receive the full price which Sancho receives less a $.05 per Mcf marketing fee paid to sanco. The price of the natural gas is bsed upon indices that include the residential gas commodity charge of Hope Gas and the Inside F.E.R.C. CNG Index. Were it not for this relationship between Hope Gas and Sancho, Hope Gas would compete directly with us for the sale of gas to certain customers, specifically OSI Specialities, Inc. and Ormet Aluminum Company.

Employees

As of the date hereof we employ eight people full-time, consisting of three executives, tow marketing and clerical persons, and three production persons. management presently anticipates hiring additional employees as business conditions warrant and as funds are available.

Facilities

We currently occupy approximately 4,000 square feet of office space in St. marys, West Virginia, which we share with our subsidiaries, Tyler Construction Company and ritchie County Gathering Systems. We lease an aggregate of approximately 4,000 square feet from an unffiliated third party under a verbal arrangement for $1,400 per month, inclusive of utilities. management believes that our present office facilities are adequate for our current business operations.

Risk Factors

You should carefully consider the risks and uncertainties described below and other information in this report. If any of the following risks or uncertainties actually, occur, our business, financial condition and operating results, would likely suffer. Additional risks and uncertainties, including those that are not yet identified or that we currently believe are immaterial, may also adversely affect our business, financial condition or operating results.

We have a history of losses and anticipate future losses

Although our revenues increased approximately 126% during the fiscal year ended December 31, 2003, and we may not achieve, or subsequently maintain profitablity if anticipated revenues do not increase in the future. We have experienced operating losses, negative cash flow from operations and net losses in each quarterly and annual period for the past several years. As of December 31, 2003, our net operating loss carryforward was approximately $19.7 million and our accumulated deficit was approximately $28.7 million. We expect to continue to incur significant expenses in connection with

exploration and development of new and existing properties;
costs of sales and marketing efforts;
additional personnel; and
increased general and administrative expenses.

Accordingly, we will need to generate significant revenues to achieve and attain, and eventually sustain profitability. If revenues do not increas, we may be unable to attain or sustain profitability on a quarterly or annual basis. Any of these factors could cause the price of our stock to decline.

There are many competitors in the oil and gas industry. We encounter many competitors in the oil and gas industry, both in the exploration and development of properties and in the sale of oil and gas. Management expects competition to continue and intensify in the future. If we are unable to successfully compete with other oil and gas companies, our business will be adversely affected.

Oure operating results are likely to fluctuate significantly and cause our stock price to be volatile which could cause the value of your ivestment in our shares to decline. Quarterly and annual operating results are likely to fluctuate significantly in the future due to a variety of factors, many of which are outside of our control. If operating results do not meet the expectations of securities analysts andinvestors, the trading price of our common stock could significantly decline which may cause the value of your ivestment to decline. Some of the factors that could affect quarterly or annual operating results or impact the market price of our common stock includes:

our ability to develop properties and to market our oil and gas;
the timing and amount of, or cancellation or rescheduling of, orders for our oil and gas;
our ability to retain key management, sales and marketing and engineering personnel;
a decrease in the prices of oil and gas; andchanges in costs of exploration or marketing oil and gas.

Due to these and other factors, quarterly and annual revenues, expenses and results of operations could vary significantly in the future, and period-to-period comparisons should not be relied upon as indications of future performance.

Additional share issuances could be dilutive

If we do not generate necessary cash from our operations to finance future business, we may need to raise additional funds through public or private financing opportunities. Selling additional stock could dilute the equity interests of existing stockholders. If we borrow more money, we will have to pay interest and my also have to agree to restrictions that limit operating flexibility. We may not be able to obtain funds needed to finance operations at all, or may be able to obtain funds only on very unattractive terms. Management may also explore other alternatives such as a joint venture with other oil and gas companies. There can be no assurances, however, that we will conclude any such transaction.

Outside factors may influence our business edevelopment

We expect to experience significan fluctuations in future results of operations due to a variety of factors, many of which are outside of our control, including:

demand for oil and gas;
attempts to expand into ne markets;
competitive factors that affect pricing;
the timing and mgnitude of capital expenditures, including costs relating to the exdpansion of operations;
hiring and retention of key personnel;
changes in generally accepted accounting policies, especially those related to the oil and gas industry; and new government legislation or regulation.

Any of the above factors could have a negative effect on our business and on the price of our common stock.

Going concern issue

Our independent auditors have expressed a going concern issue. Our ability to continue as a going concern is dependant upon our ability to achieve a profitable level of operations. Management will need, among other things, additional capital resources which it may seek through loans from shareholders. We expect that we will need approximately $300,000 to cover our negative cash flow through fiscal 2004. However, management cannot provide any assurances that we will be successful in accomplishing any of our plans.

Results of Operations

Total revenues of $2,015,012 for the year ended December 31, 2003 ("2003") increased 126% when compared to $889,764 for the year ended December 31, 2002 ('@002") due primarily to increased oil and gas prices and greater gas volume in our pipelines. In 2003, oil made up 26% of total revenues compared to 31% in 2002, and gas sales represented 74% of sales in 2003 compared to 67% in 2002. The changes were considered minimal representing only a slight difference in percentage points.

We had a net loss of $1,470,004 for 2003 compared to a net loss of $1,946,959 in 2002. Total costs and expenses increased 35% in 2003 primarily due to the 132% increase in cost of oil and gas, attributed to higher oil and gas prices and increased pipeline costs. As a percentage of revenues, total costs and expenses decreased from 257% in 2002 to 153% in 2003, attributed to the significant increase in revenues from pipeline transmissions. Salaries and wages remained constant in 2003. Selling, general and administrative expenses decreased 35% in 2003 when compared to 2002, primarily dure to a lower legal fees and settlement of prior legal issues. depreciation, depletion and amortization increased 5% in 2003 due to increased oil production.

Interest expense in 2003 decreased 17% in 2003 due to lower interest rates, paying off certain debt with proceeds form the sale of assets, and settlements of the Baker hughes judgment. We also realized a gain on disposition of assets of $231,702 in 2003, compared to #82,522 in 2002, which was offset by a loss on sale and valuation of assets in 2003 of $266,496. We also recognized a charge of $11,486 in 2003 due to a change in accounting principal.

Our net loss for 2003 was $1,470,004 versus a net loss of $1,946,959 for 2002. The decrease in net loss in 2003 is primarily attributed to increased revenues and recognized gains on disposition os assets and debt.

Net Operating Losses

We have accumulated approximately $19.7 million of net operating loss carryforwards as of December 31, 2003, which may be offset against future taxable income through 2023. The use of these losses to reduce future income taxes will depend on the generation of sufficient taxable income prior to the expiration of the net operating loss carryforwards. In the event of certain changes in control, there will be an annual limitation on the amount of net operating loss carryforwards which can be used. no tax benefit has been reported in the financial statements for the year ended December 31, 2003 because the potential tax benefits of the loss carryforward is offset by valuation allowance of the same amount.

Liquidity and Capital Resources

Historically, working capital needs have been satisfied through our operating revenues and from borrowed funds. Working capital at december 31, 2003 was a negative $5,317,857 compared with a negative $6,332,583 at December 31, 2002. This improvement in working capital was primarily attributed to the increase in accounts receivable and settlement and payment of the Baker Hughes judgment. We anticipate meeting working capital needs during the 2004 fiscal year with revenues from operations and possibly from capital raised through the sale of either equity or debt securities. We have no other current agreements or arrangements for additional funding and there can be no assurance such funding will be available to us, or if available, such funding will be on acceptable or favorable terms to us.

AS of December 31, 2003, we had total assets of $1,405,051 and stockholders' deficit of $5,317,857 compared to total assets of $2,747,636 and total stockholders' deficit of $3,938, 719 at December 31, 2002.

In 1998, we issued $4,625,400 face value of 8% secured Convertible Debentures Due March 31, 1999. A portion of the proceeds were used to acquire the GCRL properties and interest in Wyoming. during 2000, all but one of the remaining outstanding debentures were converted into commons stock. At December 31, 2003, we owed $331,462 in connection with the debentures consisting of $50,000 for debenture and $281,462 in penalties and interest.

Because we have generated significant losses from operations through December 31, 2003, and has a working capital deficit at December 31, 2003, there exists substantial doubt about our ability to continue as a going concern. Revenues have not been sufficient to cover operating costs and to allow us to continue as a going concern. Potential proceeds from th future safe of common stock, other contemplated debt and equity financing, and increases in operating revenues from new development would enable us to continue as a going concern. there can be no assurance that we can or will be able to complete any debt or equity financing

In the opinion of management, inflation has not had a material effect on the operations of Trans Energy.

Any opinions about TSRG?


Posts: 83 | From: Ripley, Tennessee, United States | Registered: Feb 2004  |  IP: Logged | Report this post to a Moderator
YOuNgFettaChini
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Here's an answer.....

http://biz.yahoo.com/e/040402/tsrg.ob10ksb.html


Because we have generated significant losses from operations through December 31, 2003, and has a working capital deficit at December 31, 2003, there exists substantial doubt about our ability to continue as a going concern. Revenues have not been sufficient to cover operating costs and to allow us to continue as a going concern. Potential proceeds from the future sale of common stock, other contemplated debt and equity financing, and increases in operating revenues from new development would enable us to continue as a going concern. There can be no assurance that we can or will be able to complete any debt or equity financing

------------------
Your only enemy is fear....


Posts: 149 | From: Montgomery,Alabama,USA | Registered: Mar 2004  |  IP: Logged | Report this post to a Moderator
   

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