posted
mm's cant stand low volume on this stock.. it totally freaks them out in this range. they always bring it down on low vol to bleed out cheap shares.... happens everytime
Posts: 6397 | Registered: Jan 2006
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posted
I hear ya ANR. Starting to get ugly. You might want to set your order a little above 7 as there is a sizeable order sitting on 7....assuming pink sheets is right.
posted
Investors are staying with this one you always will have some that bail. The CEO is cleaning up under the rug at OMOG. In a lawsuit when you do your investigation by doing subpoena's and deposition's all kinds of things and people come out, this is why they probably added to their base in this lawsuit. By adding another party they may find another tie also under that rug. The CEO of OMOG must be clean or he would never had brought action against them in a court of law and they would not be in settlement talks. Here is some information that might have been posted prior but i guess i did not read the fine print. This is from another board. _________________________________________________
Von einem anderen board:
if you do some further research on this company... take a look at the lawsuit info on the company website... should be under the tab legal update. One of the finest corporate law firms is representing OMOG's suit against prior management and advisors. The law firm is so confident witht this company that they are only going to take a percentage of what is won. The law suit is for 36 million plus property and other damages. This is huge guys.
An interesting point for shareholders is that when we first engaged counsel, it was purely on an hourly basis. As I mentioned above, counsel has now concluded that there seems to be a wide reaching Corporate Tort going back many years involving a considerable amount of additional Company assets that appear to have been illegally transferred to defendants. Due to these new revelations, Counsel has offered to amend his retainer agreement from pure hourly, to primarily contingency on recovery of items and damages that we originally were not expecting. Which to those who don’t understand the difference means that he is confident enough now that we not only should prevail in our original action, but should recover a significant amount of other assets or financial relief that he is willing to “spec” a good bit of his time on the bet that a percentage of recovery will far exceed his normal $450 an hour rate. This is obviously a positive for shareholders in two ways in that it conserves capital for our new ongoing Oil and Gas efforts and creates an additional incentive for counsel to go after every possible item of fraud over and above our original goal of just recovering known assets and records while putting the cost risk primarily on him. I want to stress that under the new agreement, only a very small portion (10%) of the contingency would affect items that we originally were going after, ie. the 300+ stripper wells, the majority of the contingency comes from recovery and damages over and above these items.
Additionally, at the suggestion of Nathan, we have increased the litigation team by bringing in an additional law firm to effectively bifurcate the actions and speed up recovery of the original items we were after while not putting pressure to hurry on the expanded investigation which seems to be bearing significant and very valuable fruit.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
yep, when i did dd on that law firm i threw all sorts of dough at this. pretty sure these guys arent gonna lose. these lawyers are much more patient than the shareholders though. lol
Posts: 6397 | Registered: Jan 2006
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posted
no doubt...I was so impatient waiting on .0074 that I bought another 150K at .0079. I have a feeling we are gonna hold this level for the rest of the day.
I simply did not want to pass up an opp to pick up a few more shares under .008.
posted
Yes and that surprises me, the part about the lawyers they must see hugh dollar signs. I was not going to buy more but at these prices i can not resist, we have nothing at this point to say anything has changed except it is taking time.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
I do see where investors are coming from on this stock. I would like to see some updates on the settlement talks so we would have a better idea of where they are at. They have kind of shut down communications with investors other than news about filing lawsuits which does not help the pps. this should be a signal to the CEO.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
I'm sure at this point the "current" pps is not at the top of the CEO's priority list. He knows this will be settled and the pps will go through the roof. What it is right now is irrelevant. He stated that they could not release anything until the settlement was final and anyone can see that releasing anything before it is final would be useless anyway.
Posts: 294 | From: Mississippi | Registered: Jun 2005
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posted
You are right in some ways but i do think he is concerned about the pps. now and in the future he owns to many shares not to be.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
I think the CEO is very much like us that are holding, you will buy more if it drops much but you hate to see the green decrease it's like a catch 22.
Posts: 3875 | From: ca. | Registered: Jul 2005
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posted
Adam is in HUGE on this. I promise he cares about the pps. He however is in a position to truly see the big picture and is willing to wait as long as it takes. I'm with him.
posted
exactly, im sure he's focused on the settlement. pps will take care of itself. adam knows whats really going on, we all just have to speculate. I'd like to know how many hours these lawyers have on this case. I emailed adam the other day, havent heard back yet
Posts: 6397 | Registered: Jan 2006
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posted
yea, this weeks been brutal for me pretty much. i'd be really surprised if people dont nail the ask late.
Posts: 6397 | Registered: Jan 2006
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posted
I didn't mean to say that the CEO didn't care at all about the pps, but only that this small dip doesn't really matter in the long run. I sat at .004s for long enough to appreciate .007-.008.
Posts: 294 | From: Mississippi | Registered: Jun 2005
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posted
I think we held pretty good inspite of a broader market sell off. We should be good unless we slip into a recession...which I think is possible.
posted
gnul, i think you are into something with your thinking, but that primarily affects big board stocks. pennies have a mind of their own. companies can run in pennyland when they are millions in debt and on the verge on banktrupcy. no matter whats going on with the economy. its like gambling really..
Posts: 6397 | Registered: Jan 2006
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posted
I don't really see this as gamling so much. There has been a fair amount of DD done here. Gambling is chasing superman around...that's gambling.
Learning about a company and being confident enough to watch your portfolio shrink in value is investing...risky investing but investing non-the-less.
posted
I'd rather he just continue to post updates without worrying about how they affect the market. Just tell us what is going on one way or the other. I've always liked that about OMOG. You don't get alot of fluff PRs or spin PRs...just what is going on.
Posts: 294 | From: Mississippi | Registered: Jun 2005
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