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» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » OMOG Lawsuit settlement (Page 22)

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Author Topic: OMOG Lawsuit settlement
Chad
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thx MB, apprecaite words. I learned about chasing, also about unsettled funds. Patience, Im trying. lol
Exactly how does a limit stop work, I have idea, but not for sure.
my guess is when a stock it gng up an du buy at say 10 and its up to 20 and u say to stop sell at 15??

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MB
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I put in a stop loss at 15-20% loss from initial investment then move it up as price increases depending on what I see but I NEVER ever lose move than 20% of initial investment. If it stops me out so be it. Sometimes I buy, it drops 20% and stops me out then recovers and I will buy back in. (that sucks) but more times than not it saves me from big 50% + losses. Once something goes up 30% from my initial investment I move my stop up to my initial entry price at 100% gain (if I feel lucky and want to ride it higher I will move my stop up to 50% gain from initial investment. etc...

Like I said I miss out on some runners but there is always another runner. I save myself from the big loss which wiped me out the first time. My mistake was that I hit it big in my first few trades and got cocky. My account read 50k + in the first few months and then there was MLON. UGH.

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bond006
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Thing held up better today than I thought they would and I was very impressed with the volume. See you all later just a game of waiting now
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cactus33
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i agree... down 8.5% isnt the end of the world. it ran 50% last week. I loved the bounceback late in the day.. looks to me like mm's were shaking. who knows what tomorrow will bring..
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DQ.
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I'm surprised this fell today...I mean, this whole run has been with no news. I figured news was coming out today. Oh well I made money in it before but now I'm down a bit. I am expecting to see this at .05 after the law suit PR is out.
Fingers crossed and waiting.GLTA!

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It's only money..We'll make more tomorrow!

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cactus33
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kay, wish... you just watching this? i doubt i can hold down the fort tomorrow all alone...
lol

chart still loooks ok.... we'll see how the penny forces treat this tomorrow

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IWISHIHAD
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Lot of games being played but in the end it creeps up. For the investors waiting to jump in just before news it is harder and harder, about the time investors start thinking it is just a small run that is when it will be the real insiders buying prior to the pr. it is like playimg Russian Roulette.
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cactus33
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thanks wish.. we needed a rational head in here. chart looks good to me still. macd looks right on track for a gain. more and more questions arise about black dragon on other bb's. last time we were this high rsi was in low 80's now its in low 60's.. looks like mm's filling the gap. plus people chased other oil pennies all day long, i even tried but couldnt get filled. i wouldnt be surprised to see it up in the morning since it had strength late in the day. there is just know way im selling out b/c if the settlement news is announced and i'm on the sidelines then i'll never forgive myself. been waiting for months now..
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bond006
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I hear you cactus let the idiots run there big mouths it will be them chaseing that is why most of us are in now and put up with all the crap because we don't have a crystal ball if we did we would buy an hour before the run and get rich every time all I can say is we are close
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cactus33
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hahahaha so true bond... I hope adam launches that settlement, and yep.. let the chase begin.
im not sure where it goes tomorrow morning. i feel a little better that it rebounded late. a pr came last friday, maybe one will come again. i do think adam cares about investors..

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IWISHIHAD
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For me it has been a real easy decision to stay in this stock i could jump out with some more of my profits and play something else, but i do not see anything out there right now that has this type of potential return i wish i did. I have not had any reason to date to change my mind and if i did i would post it, even if the settlement changed to a court date, which i really do not think will happen, i am sure the CEO. wants it settled quickly, law suits are no fun no matter what side your on, OMOG has a strong base. Remember when they announced that CSUA deal, this stock started to get interest from investors at that point, then the settlement news came out, this thing would have run on just the CSUA deal which is pending, there is a possible dividend involved in that deal. I actually think that the settlement news hurt the stock in some ways because to much emphasis is put on it and not there current assets.
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cactus33
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i agree wish, just no way im selling now. too much potential. I have thought this way since january and think i am making the right decision. any pink is a gamble, heck.. life is a gamble. I'll put my chips on OMOG and let it ride. I will be at the next shareholder picnic. memorial day weekend would be perfect.. not too hot. and if we can get a settlement then, brats on me... and I'll deliver a keg. hehehehe
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MsKay
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Sorry Cactus. I had meetings all day and didn't even check email yesterday. Didn't even get to look all day! It was killing me! I know the retrace is disappointing to some of you who've just jumped on but only a month ago this stock was at .004 so it is still way, way up and has a long way up yet to go. I don't expect settlement news for a few more weeks yet, just MHO. This will pop up and down until we get more news. Like cactus said, it is the nature of pennies. Since this stock has more than doubled in a month, some people will take profits who have been holding a while. Profits are why we are all here so you can't blame them for that. It is a pattern that all "running" pennies follow. Spike up, people start to sell to make profits, it comes back down, spike up again, more people sell, etc. etc. You have investors in at every level along the way so while I could have already made profit by selling, some of you are in the red right now. When this stock doubles again, some of you will decide to sell and take profits. The prospects for this stock have not changed since one month ago when it started to go up. It will continue to go up and retrace some until we get news one way or the other. All just my opinion of course. I'll be out most of the day again darn it!
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Cabbie Mark
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Good Morning fellow OMOGgers [Smile] )

Cross your fingers and have a killer day mates.

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Luv is the Answer :)

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usasail
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Here's a good read for more info on suit.
BDGR RB board

By: tchauncy
04 May 2006, 08:42 AM EDT
Msg. 1307 of 1308
(This msg. is a reply to 1292 by ajor1.)
Jump to msg. #
Ajor1-Excellent Questions. Let me attempt to answer each IMO. Better sit back with a bottle of your favorite. This is going to be a long response.

"Q-tchauncy, but if you felt the lawsuit was over exaggerated you would not so easily settle if you were BDGR, would you? If those in the know really thought OMOG would win something great, don't you think OMOG would sell for more than $0.01? Then again, OMOG is likely to have a reverse split at some point."

A-If I were BDGR and I felt the suit was "Over-exaggerated" AND I felt there was a solid chance of winning, I probably wouldn't even enter into any settlement talks. I would file a counter-suit and ask for Summary Judgement and sanctions. They have done none of the above. The stock market is a fickle place. Many stocks trade for much more, or much less than what they are worth. As anyone who has followed all my earlier post can testify, back when I was an unpaid consultant to the Company, I was strongly suggesting both to Barnett and on the OMOG RB board that the company DO a reverse split. Barnett has been against that all along. Back in those early days, I suspect he could have gotten a shareholder approval for one if he wanted it, because he, I and a few of our large shareholder friends could have mustered up a 51% vote. Since those days two years ago, before we discovered that Lanza et. al. absconded with all our assets, a couple of fundings had to be done to both fight to get our assets back, to begin new drilling and to acquire drilling assets. Because of this the share count had to be increased considerably making it very unlikely that current shareholders would vote for a Reverse Split until we have a very strong audited cash flow and asset base. OMOG is a Delaware Corp which requires a shareholder vote of over 50% to authorize a reverse split. So, no, IMO, a reverse split is unlikely for some time to come.

"Q-Has Adam B from OMOG continually disappointed? Don't you think he will continue to do so?"

A. Barnett, as most CEO's has had his strong points and his weak points. But in all fairness to him, he has stuck this out, and should be given credit for that. He has never claimed to be an expert in Oil and Gas and has told the OMOG shareholder on many occasions that after the suit is won, and we have our asset base back, he will turn over the Managerial reins to Oil and Gas professionals, I and many long time shareholders have taken him at his word and expect that to be soon happening.

"Q-How many more OMOG shares will have to be issued because of this delay in settlement?"

A-An easy answer. NONE. As has been mentioned many times, the current capitalization is at the "Authorized" limit of 1.7 billion shares. Again, under Delaware law, a shareholder proxy vote, or at least shareholder notification if 51% can be mustered up by insiders, is required to increase the Authorized shares. Something that would have to precede any increase in shares.

"Your comment-Many are chasing OMOG in hopes that some value might be found. I don't like gambling. I like investing in winners and those who have proven themselves. BDGR has been doing what they said they would do, although about seven months more slowly, and OMOG continues to disappoint. "

My Reponse- Get a grip man! How on earth can you be so sure that you are betting on Winners? Just because the put out PR's? You want to see PR's, Here, look at PR's I put on the next post (I had to put it on the next post because RB keeps screwing up the link), pay particular attention to all the ones that were put up prior to Sept. '03 before Barnett took over with the stock price at "no bid-.0001 offered."

"Your Comment-Past performance is often an indicator of future performance. In my opinion, Adam B is a trouble maker and essentially tricked control out of the Lanza's control. He wanted a War with the Lanzas, and now he appears to have one. Now he has control of OMOG without the clean assets he hoped to have gotten. The assets BDGR has are not cleanly OMOGs. OMOG can not take the good without the bad, or prove what was theirs and what was not."

My Response- Do you have any idea how he "tricked" Lanza in getting control? No? I didn't think so. Yes, in a way he did. But ALL the public shareholders were rewarded by his "trick". As I said above, the stock was trading at "no-bid, .0001" offered in Sept. '03 when Barnett "tricked" Lanza. That is after the stock had dropped from a reverse split adjusted $9 a share in June of '02. (Great 15 month Performance, don't you agree?) While the stock was trading at "no bid- .0001 offered, Lanza place a half billion shares with a Reg. D, 504 investor to sell into the Market. Barnett, found out who the firm was who was starting to sell the shares into the open market, and was able to buy directly some 400 million shares. This is how he took control. The stock has been nothing but up from at least that price since.

BTW, do you know why Lanza et. al. were willing to do this funding at such a low price? Surprise ! Because they didn't own any Common shares. They sold all theirs before the that offering. Now, you may wonder why they didn't care about this mega-dilution at such a low price? We did too, until it all came out in the lawsuit. They secretly kept a convertible preferred stock that had an anti-dilution clause that they could exercise and covert into common shares and get back control of the Company "whenever they wanted". Now here is the "last laugh" to the rest of the public shareholders.

They kept that preferred stock "so secret" that they forgot to register it with the State of Delaware back in 1998 when they created it. Something that had to be done while they still had control of the Company. It is this Preferred that was the Genesis of the current lawsuit. Remember in my post the other day that this suit started as a simple Declaratory Judgement suit? Well the original suit was brought because the dummies tried to convert those shares in late 2004 by presenting them at OMOG's Corporate Offices in Houston. Luckily, we had and still have a brilliant corporate counsel who shares the Houston Office, and didn't just take the documents at face value, but researched and quickly realized that the Preferred was never properly registered. They still insisted on collecting, so he brought the original suit which has now uncovered multi-millions of dollars in additional skullduggery. You know which "dummy" presented the largest amount of these bogus preferred? None other than you illustrious CEO Rick Michaels, as trustee for the Lanza Family trust. Luckily, for us OMOG shareholders, the scammers turned out to be "the gang that couldn't shoot straight". BTW, this issue is now past. The Judge in this case agreed with the State of Delaware that the Convert is bogus, so out the window went their last chance to win this suit, ergo the now settlement talks.

"Your comment-BDGR continues to inch upwards. Audited financials are on their way for BDGR, a listing on the AMEX will be likely if things continue as they have been for the last year."

My Response- I encourage you to go back and really do read those old OMDA PR's during the Lanza reign. I think you will also see comments about Audits, and yes, even the AMEX

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usasail
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Hmmm BDGR going precious metals in 2 wks time.....Bahh LOL. Maybe 2 weeks is all OMOG needs to catch BDGR trying to escape....ha. [Wink]

Savoy Resources Corp to sell interest in China joint venture reports on negotiations for Yukon property

May 02, 2006 (M2 EQUITYBITES via COMTEX) -- Savoy Resources Corp (OTC Bulletin Board: SVYRE), a precious metals and mineral exploration and mining company, reported on 1 May that it has agreed to sell its 40% interest in Heilongjiang Savoy Minerals Co Ltd to Black Dragon Resources Ltd.
Heilongjiang Savoy Minerals is a joint venture with the First Institute of Geological Exploration of Heilongjiang Province, China, and was established in June 2004. Savoy Resources has contributed to the joint venture USD1m of a total of USD3.5m in capital contributions required through to 31 December 2006.

Savoy Resources has received the initial USD50,000 payment from Black Dragon Resources and will receive an additional USD200,000 at closing. The company said it anticipates that the sale will close within the next two weeks.

In other news Savoy Resources' management is in advanced negotiations with a closely-held, Canadian company for the acquisition of a property with proven gold reserves located in the Yukon Territory in northwestern Canada. The purchase would not involve any cash outlay, the company said.

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dig in when u can!

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cactus33
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mm's doing their best to drag this down. seems like it wants to hold though. typical omog trading
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IWISHIHAD
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USASAIL,

Very informative post thanks. Has anyone seen any posts on how BDGR investors feel about the law suit against the company?

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dayton
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well luckily it looks like I played this one right. Ill be looking to get back in tomm, but man this flipping business is bad for your nerves... at work I keep thinking I might of missed the boat. I did that on fppl last week. Oh well still another day to wait
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cactus33
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wish.... I saw the mod on another board, bdgr BB, going on how BDGR is going great by not saying anything about the case. whatever, not talking makes them look more guilty IMO. yep, people over there are bringing it up concerned that if they lose, bdgr pps will suffer. a lot of them dumped bdgr and went to omog. lol
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gnulnx
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Cactus BDGR is having a hell of a day? Could this be bad news for us?

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Your add here.

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cactus33
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bdgr makes a lot of money.. the case hasnt affected their pps at all.. yet
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usasail
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don't ya fret Skywalkah'...small volume with this little drop. Longs will rock soon.
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logical buyer
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Low volume today.
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logical buyer
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Who would sell at these levels? Idiots.
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cactus33
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yep. low vol always kills this pps. typical trading with this stock. everyone loses patience within a day, sells and then buys back in after a big run and wonders why they lost money. if enough people wanna panic, i'll gladly keep buying around .007...
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cactus33
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ha, look at this shake... what a joke.. come to daddy cheap shares..
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logical buyer
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People should start buying now.
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Cabbie Mark
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arg..thought yesterday was depressing...

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Luv is the Answer :)

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cactus33
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cabbie you may want to avg down now at some point. Just IMO. thats what i did last run.. you are seeing a perfect shake right now. I have a limit order at .0078...
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Cabbie Mark
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Sounds like a good idea. I'm right behind ya [Wink]

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Luv is the Answer :)

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cactus33
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im still thinking .0082, which is the 200 mva will hold. said it for weeks and its been holding. it dipped below that briefly last week, but popped back to it right away.
just my best guess.

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IWISHIHAD
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It is not just OMOG it is the penny market in general that is down, that can change very quickly.
It is a good time to buy the right stocks in pennyland.

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IWISHIHAD
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Pretty quiet day after the big rush.
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GreenDay
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I was in at .0124 yesterday. I'm not having beginners luck with any of my picks for my first couple weeks. CACTUS - What does "200 mva will hold" mean?
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