posted
Posted by: jrdig7 Date:1/25/2007 9:10:41 PM Post #of 29137
Larry replied to an email I sent him earlier this evening that a PR will be out Monday. He said he has personally advanced Dalian money in the 6 figures and it will be in the 7 soon. He also said that for those curious as to whether he rents or owns that maybe they should consider who owns the whole building.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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"an agreement was reached and the lawyers are preparing the paperwork to be signed"
So the deal has not been signed, but she says an agreement was reached and Larry says he has made a large payment. The PR will have to be written carefully, but it looks like a done deal. Hopefully it is at a stage where the signing can be done by mail and our Monday PR can still be the big one.
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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posted
Thanks for the update Kermit. Hopefully the deal will be signed and PR'd.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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quote:The dividend will comprise of 1 common share of SOMA Petroleum Limited for every 50 shares of EQUITABLE owned by the holder, along with 1 warrant at $2.00US expiring on March 31st, 2007 and a second warrant at $3.00US expiring on June 15th, 2007 all subject to a four (4) month hold.
explain to this newB in plain english:
- 1 warrant at $2.00US expiring on March 31st = they issue us more? / or / we have opportunity to buy more up to 3/31?
- second warrant at $3.00US expiring on June 15th, 2007 = (same question??)
I have three separate transactions of SOMA shares issued to my account. each the same count, but 3 different 'deposits' let's call them. Are these all mine, or is the first one my only 'free' divi and the next 2 I have the opportunity to buy at the above prices by the above dates??
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
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posted
Egg: you got it. You got three things in the divy. One set of free shares at the rate of one for every 50 EQBM shares you own. Then you get an option to buy additional shares up to that same number at a price of $2.00 per share. This right expires on March 31, but can be exercised at any time. Then you get an option to buy a third set of shares at $3.00 per share. This right expires on June 15, but can be exercised at any time up to then.
All three sets of shares are restricted until April 15 (4 months from the Dec 15 date), so you will have to decide to exercise (or not) the first set of warrants 2 weeks before they are tradable. The second set you can wait until they are tradable if you wish and will be able to turn around and sell them immediately if you wish.
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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the shares are only $2.00 and $3.00 per if the price is higher than that, at that time right? it's the only way it makes sense. if the stock is * $1.85US on 3/31 then no ones paying $2.00 for a limited quantity? Visa-Versa if the PPS is $5.00US then we will be limited by that amount, though we would want more if we were smart....LOL I know this is complete common sense to all of you, so bloody obvious it is practically jumping off the page.
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
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posted
Right. A right to buy shares at $3.00 isn't worth anything if the shares are selling on the open market at $2.50. In that case you should not exercise. But if they are selling at, say, $4.00, then basically you are getting a dollar free for every share you are entitled to buy.
The first warrants are more tricky because they must be exercised before the restriction period is up. In that case, you have to make the judgment that they will be worth more than the exercise price when the restrictions lapse (plus whatever time value you put on your money).
I think that's why they are cheaper--there is risk for the first warrants, whereas there is not with the second.
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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posted
Posted by: jrdig7 Date:1/29/2007 3:20:18 PM Post #of 29757
I just talked to Larry today for the first time in over a month. He said he hadn't been answering the phone because he had been traveling. He said as usual that he was not in the PR business. That said, he said the deal is done and news will be forthcoming. It evidently won't be today but I would bet we see it this week. He had calls coming in so we couldn't talk long but he was very friendly and upbeat. Money has been spent on Dalian and is approaching 7 figures. They are looking to kick operations open in March as Dalian is very cold right now
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
thanks for the up date juice.still waiting also i beleaved in this stock for a long time. but as all stocks you never know what the end will be.a little word is better then none.its better than herring the stuf kermit42 is putting up with on ihub.things do take time in business.GLTA
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posted
Soma Petroleum Limited, Equitable Mining Corp and partners complete acquisition of Actel/Aikete, Ltd assets and production line Equitable Mining Corp: EQBM Soma Petroleum Limited: SA1 Feb 5, 2007 3:01:00 PM TORONTO, Feb. 5 /PRNewswire/ - Soma Petroleum Limited (SOMA) - (Frankfurt Stock Exchange: symbol SA1), Equitable Mining Corp (EQUITABLE) (a resource company trading on Frankfurt Exchange: E5W and on PinkSheets.com: EQBM) and partners announce the completion of the acquisition of Actel/Aikete, Ltd ("Actel/Aikete") for the rights to holdings in all assets to include mine tailings, land, capital infrastructure including one production line in exchange for cash and securities.
Actel/Aikete has licensed a unique technology with HMH called XL+. The XL+ methodology strength comes from its cost effectiveness to perform the extraction from the top with no heavy metals only precious metals. The process is a green process, entirely environmentally friendly using only chemicals, resins, water and acids.
This unique methodology of extracting combined metal oxides thru a combination of a proprietary bromine leach, resin in pulp, solvent semi-refining and precipitation has been implemented in a current production line with 4 tanks. The metals recovered are in an oxide form and easy to export to the refineries.
"The acquisition of Actel/Aikete achieves two key elements for SOMA. It offers us an increase in precious metals production from mine tailings in Dalian, China and also the capability to increase production capacity very quickly with another production line," said SOMA CEO Lawrence Skolnik.
About Soma Petroleum Limited
Soma Petroleum Limited (SOMA) is a Canadian registered corporation that has interests in oil and gas projects in the Horn of Africa and mine tailings project in Dalian, China. It has partnered with leading resources developers including Inter-Continental Petroleum Co. Ltd (ICPC), a China-based oil and gas exploration company. ICPC has an extensive international track record in oil and gas. www.somapetroleum.com
Information presented in this newsletter contain 'forward looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward looking statements.' Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as 'projects', 'foresee', 'expects'', 'will,' 'anticipates,' 'estimates,' 'believes,' 'understands' or that by statements indicating certain actions 'may,' 'could,' or 'might' occur.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Soma Petroleum Limited, Equitable Mining Corp and partners finalize contract with Actel/Aikete, Ltd Feb 26, 2007 4:00:00 PM TORONTO, Feb. 26 /PRNewswire-FirstCall/ - Soma Petroleum Limited (SOMA) - (Frankfurt Stock Exchange: symbol SA1), Equitable Mining Corp (EQUITABLE) (a resource company trading on Frankfurt Exchange: E5W and on PinkSheets.com: EQBM) and partners announce the finalization of the contract with Actel/Aikete, Ltd ("Actel/Aikete") with an initial cash down payment for the rights to holdings in all assets to include mine tailings, land, capital infrastructure including one production line in exchange for cash and securities.
Actel/Aikete will use the initial funds to acquire chemicals and manpower for the production lines. Also, funds have been allocated to continue the public relations campaign.
The chemicals purchased will utilize a unique methodology of extracting combined metal oxides through a combination of a proprietary bromine leach, resin in pulp, solvent semi-refining and precipitation has been implemented in a current production line with 4 tanks. The metals recovered are in an oxide form and easy to export to the refineries.
"The initial funds for the down payment secures and facilitates the allocation of key personnel resources for the production facility in Dalian, China and also the plan for the capability to increase production capacity very quickly with another production line," said SOMA CEO Lawrence Skolnik.
About Soma Petroleum Limited
Soma Petroleum Limited (SOMA) is a Canadian registered corporation that has interests in oil and gas projects in the Horn of Africa and mine tailings project in Dalian, China. It has partnered with leading resources developers including Inter-Continental Petroleum Co. Ltd (ICPC), a China-based oil and gas exploration company. ICPC has an extensive international track record in oil and gas. www.somapetroleum.com
Information presented in this newsletter contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements.' Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as 'projects', 'foresee', 'expects', 'will,' 'anticipates,' 'estimates,' 'believes,' 'understands' or that by statements indicating certain actions 'may,' 'could,' or 'might' occur.
SOURCE Soma Petroleum Limited
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. SECURITIES EXCHANGE ACT OF 1934 RELEASE NO. 55420 / March 8, 2007 SEC SUSPENDS TRADING IN COMMON STOCK OF THIRTY-FIVE COMPANIES QUOTED ON THE PINK SHEETS The Securities and Exchange Commission (“Commission” or “SEC”) today announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of trading in the securities of the following issuers, commencing at 9:30 a.m. EST on March 8, 2007, and terminating at 11:59 p.m. EDT on March 21, 2007: Advanced Powerline Technologies Inc. (APWL) America Asia Petroleum Corp. (AAPM) Amerossi Int’l Group, Inc. (AMSN) Apparel Manufacturing Associates, Inc. (APPM) Asgard Holdings Inc. (AGHG) Biogenerics Ltd. (BIGN) China Gold Corp. (CGDC) CTR Investments & Consulting, Inc. (CIVX) DC Brands International, Inc. (DCBI) Equal Trading, Inc. (EQTD) Equitable Mining Corp. (EQBM) Espion International, Inc. (EPLJ) Goldmark Industries, Inc. (GDKI) GroFeed Inc. (GFDI) Healtheuniverse, Inc. (HLUN) Interlink Global Corp. (ILKG) Investigative Services Agencies, Inc. (IVAY) iPackets International, Inc. (IPKL) Koko Petroleum Inc. (KKPT) Leatt Corporation (LEAT) LOM Logistics, Inc. (LOMJ) Modern Energy Corp. (MODR) National Healthcare Logistics, Inc. (NHLG) Presidents Financial Corp. (PZFC) Red Truck Entertainment Inc. (RTRK) Relay Capital Corp. (RLYC) Rodedawg International Industries, Inc. (RWGI) Rouchon Industries, Inc. (RCHN) Software Effective Solutions Corp. (SFWJ) Solucorp Industries Ltd. (SLUP) Sports-stuff.com Inc. (SSUF) UBA Technology, Inc. (UBTG) Wataire Industries Inc. (WTAF) WayPoint Biomedical Holdings, Inc. (WYPH) Wineco Productions Inc. (WNCP) The Commission ordered these trading suspensions because of questions that have arisen regarding the adequacy and accuracy of publicly disseminated information concerning among other things: (1) the companies’ assets, (2) the companies’ business operations, (3) the companies’ current financial condition, and/or (4) financing arrangements involving the issuance of the companies’ shares. The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the companies. Further, brokers-dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker-dealer has any questions as to whether or not it has complied with the rule, it should not enter any quotation but immediately contact the staff in the Division of Market Regulation, Office of Interpretation and Guidance, at (202) 551-5760. If any broker-dealer is uncertain as to what is required by Rule 15c2-11, it should refrain from entering quotations relating to the securities of the companies listed above until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. If any broker-dealer enters any quotation that is in violation of the rule, the Commission will consider the need for prompt enforcement action. The SEC’s Office of Investor Education and Assistance has information for investors and members of the general public on topics directly related to this action by the SEC. See http://www.sec.gov/investor/35tradingsuspensions.htm. Any broker-dealer or other person with information relating to this matter is invited to e-mail the Securities and Exchange Commission at 35suspensions*sec.gov.
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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