posted
This was one Sweeeeet Day. I got laughed at on the other UPDA thread when I said I was going to sell at .28. I hope this keeps going and blows by that. Keep the awesome PR's coming.
Posts: 507 | From: Rochester, NY | Registered: May 2005
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Damn, this is what I missed today.. I am thrilled to see this thing gap so well. Been holding it for a year almost..
Posts: 203 | From: Ft Collins, CO | Registered: Nov 2005
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Wow,a POS penny that actually files. They filed a 10QSB Aug 21,2006. As of June 30,2006: AS 2 billion shares OS 195,063,108 shares/Aug 4,2006 'B'shares issued 1473,can be converted to 20,000 shares freetrading common(29,460,000 shares) Convertible 'A' 100,000 issured and outstanding with 1000:1 conversion
"In November of 2003, the Company increased the number of its authorized shares of common stock from 90,000,000 to 750,000,000. In addition, the Company effectuated a 76:1 reverse split of the Company's common stock. In June 2005, the Company increased the number of its authorized shares of common stock from 750,000,000 to 2,000,000,000 and effectuated a 100:1 reverse split of the Company's common stock. The company is authorized to issue an aggregate of 2,500,000,000 shares, of which 2,000,000,000 are to be common shares."
500 Million to CDs,prefered,some to 20,000 common per each! woooFF! They pay everbody for everything in shares. Can you say 'dilution'?
Total assets: $7,348,437 Oil & Gas revenue: $218,469 Cash 6/30/06 $380,241 DEBT: $32,808,772 .05 loss/share Ouch!! $4.49 debt per $1 asset!!
"The Company has incurred recurring operating losses since its inception, and as of June 30, 2006, had an accumulated deficit of approximately $32,809,000. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effect of the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty." Duuuuhhhhh!!!!
They pay in free trading shares.They've got "consultants" coming out the ears.Page after page of this:
In December 2005 the Company agreed to issue Six Hundred Eighteen (698) shares Class B preferred stock in exchange for an investment of Six Hundred Ninety-Eight Thousand Dollars ($698,000) from Miramar Investments, Inc. pursuant to a previously executed investment agreement. The stock certificates were issued during the first quarter of 2006.
On January 11, 2006, the Company issued 375,000 shares of free-trading common stock to the principals of Profit Planners, Inc. for current and prior year consulting services. Accordingly, the Company recorded a non-cash charge of $67,501 related to these issuances, based on the trading price of Company shares on the contract signing date or the date on which the shares were issued, whichever was earlier. In addition, on March 8, 2006 the Company issued another 300,000 shares of free-trading common stock to the principals of Profit Planners, Inc. for current year consulting services. Accordingly, the Company recorded another non-cash charge of $63,000 related to these issuances, based on the trading price of Company shares on the contract signing date or the date on which the shares were issued, whichever was earlier. On April 25, 2006, the Company issued 300,000 shares of free-trading common stock to the principals of Profit Planners, Inc. for current year consulting services. Accordingly, the company recorded a non-cash charge of $54,000 related to these issuances, based on the trading price of Company shares on or the date on which the shares were issued. On June 5, 2006, the Company issued 800,000 shares of free-trading common stock to the principals of Profit Planners, Inc. for current year consulting services. Accordingly, the company recorded a non-cash charge of $80,000 related to these issuances, based on the trading price of Company shares on the date on which the shares were issued.
On May 1, 2006, the Company issued 200,000 shares of free-trading common stock to Hiyam Ahmad for current year consulting services. Accordingly, the company recorded a non-cash charge of $34,000 related to these issuances, based on the trading price of Company shares on the date on which the shares were issued.
Page after page!!! I tried to "flowchart" all their subsidiaries and joint ventures.What a spiderweb.
Subsidiaries: West Oil & Gas Texas Energy Inc. Caitlin Oil & Gas Canyon Creek Oil & Gas (CCOG) j/v with USPX Winrock Energy Inc j/v with Lion Partners Hedge Fund UPDA Texas Trading (Vala Resources) Joint Venture/Subsidiary? Avalon Oil & Gas(AOGS)which has j/v with USPX
Douglas Barton(director) is Pres & sole owner of Venture Communications"a private promotion and marketing firm" Kent Rodriguez is CEO & Pres of AOGS and a director.Also Managing Partner of Weyer Capital Partners. Kamal Abdallah CEO RealEstate spec & developer
These guys were all in real estate or beverage distribution or whatever. Decided they were really oil tycoons. heh. Why do they have to form or start another "oil" company every time they buy a lease? Some are only 100 or so acres. One is 80 acres and requires a joint venture? AOGS did same with the lease in Kingfisher County,Okla. Depleted leases near Lacey. About 35 miles from my house. Well,if yer a glutton for punishment, wade through the 10Q. This is a share sellin, dilutin, reverse splittin humpya&dumpya jessy. My brain is swelling and oozing outa my ears. I'm going to bed. Good luck! wwoooffff!!
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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It needed a little shake before another run - this will go up again with anticipation of the next quarter results coming up soon - in just a few weeks. Should show an increase in revenue - will probably also show an increase in cost of revenue but that's to be expected.
Posts: 507 | From: Rochester, NY | Registered: May 2005
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JACKSBORO, Texas, Sep 22, 2006 (BUSINESS WIRE) -- As the second week of the Catlin Workover Project closes, Universal Property Development and Acquisition Corporation (UPDA) subsidiary, Ambient Wells Services, Inc., has directed Rockey Well Service to initiate work on its ninth well and Landmark 4, LLC. continues to complete the repair of roads, flow lines and transmission systems.
During this past week, Ambient supervised the testing of several wells that have had new tubing installed, down hole pumps replaced and pumping units repaired. As a result of these tests, the Mathis 1A showed flush crude oil production of 35 bopd.
"As we progress through the field, each well we work on has shown better than anticipated," reports Gaby Damary, Ambient COO. "As we open the wells, the pressure is strong and steady. Once the equipment and tubing is replaced and the flow lines and sales lines are repaired, we expect to turn them on and let them run. Rockey and Landmark are making impressive progress and we appreciate their professionalism and diligence."
Universal Property Development and Acquisition Corporation (UPDA) focuses on the acquisition and development of proven oil and natural gas reserves and other energy opportunities through the creation of joint ventures with under-funded owners of mineral leases and cutting-edge technologies.
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Universal Property Development and Acquisition Corporation Bradford Moore, 561-630-2977 (Investor Relations) info*updac.com
Copyright Business Wire 2006
-------------------- Trust but verify! Posts: 368 | Registered: Oct 2005
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UPDA's Catlin Workover Continues - Tank Battery Installation Begins - Disposal Well Repair and Remediation to be Completed Monday September 25, 6:29 am ET
JACKSBORO, Texas--(BUSINESS WIRE)--Universal Property Development and Acquisition Corporation (OTCBB: UPDA - News) subsidiary, Ambient Wells Services, Inc., has been advised by Landmark 4, LLC that the repair and remediation of the disposal well facilities on the Catlin site will be completed this week and that installation of the new tank batteries has been initiated. ADVERTISEMENT
Ambient is managing the workover project on the field in Jack County, Texas for UPDA subsidiary, Catlin Oil and Gas, Inc., owner of the Catlin Field. Ambient has retained Landmark 4, LLC of Ohio and Rockey Well Services of Texas as subcontractors.
Kirby Rockey, Operator of Rockey Well Service, reports, "As we open each well, the pressure we are encountering is remarkable. Every well that we have worked over has shown significant potential."
"Rockey Well Services has made efficient progress on the wells after only two weeks and we are prepared to handle the additional oil and gas production that will be generated," said Steve Swain, Landmark 4 Field Superintendent. "In order to handle that production, we are finishing repairs to the natural gas pipeline and replacing the crude oil storage tanks. We will also be ready to dispose of the additional water that increasing production will generate. We have had a crew working on these facilities for several days cleaning up the area, installing new injection pumps, replacing the tank pads to handle all of the water these wells may generate. We expect to have this work completed in the next few days."
"In addition to the repairs and replacement, we have already received and installed new storage tanks for the leases that have been completed," reported Gaby Damary, Ambient COO. "We will now take regular delivery of more tanks every week as wells are brought into production. This Wednesday we are also scheduled to receive nearly ten miles of natural gas pipeline that Landmark will immediately begin installing."
posted
Is it going to gap up a little? I see yahoo & scottrade already have 145,000 shares traded this morning - sale listed at 9:01.
Posts: 507 | From: Rochester, NY | Registered: May 2005
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