James Monroe Capital is in the Final Stages of Financing the Strat Petroleum Joint Venture Thursday May 17, 7:30 am ET
KILLEEN, Texas--(BUSINESS WIRE)--Frank Love, President of James Monroe Capital Corp., is pleased to announce that James Monroe Capital Corp. (Pink Sheets:JMCP - News) is in the final stages of the process of completing its financing. It is anticipated that the financing will be completed at the end of this month or early next month.
ADVERTISEMENT Frank Love states, "In many recent press releases, I discussed $270 million dollars worth of oil sludge in Bashkorstan Russia, 48 million barrels of oil reserves, (with today's price range of $50-$60 a barrel) in the Samara region of the Russian Federation, Wales Holding Corp. (Wales Gold Mining), the Ghanaian-based Gold Company with properties in the Ashanti belt region, and the formation of the James Monroe Capital Royalty Trust.
"The major hurdle that I had when I took over this company was to get it properly financed so we could pursue our deals that would provide shareholder value. We are now well on our way in doing this. The gold-asset that we acquired will help us in getting financed efficiently as well.
"We will finance the joint venture with Strat Petroleum using debt. Debt financing will also be used for our other projects, like acquiring hundreds of the thousands of Stripper Wells available in North America. I am still negotiating terms and will have this finalized shortly.
"Concerning the James Monroe Capital Corp. Royalty Trust, in order to participate in the Royalty Trust one must have a date of record June 1, 2007. Also, I am currently in talks with a potential Underwriter and Trustee for the Royalty Trust who has current and past experience Underwriting, Listing and Managing monthly dividend paying Royalty Trust with several NYSE Royalty Trust.
"I look forward to keeping you updated in these exciting times."
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well i hope for all of our sakes that TOPROB is correct. I have been sitting on 4 million shares since SEPT. I hope that if the price starts going up that everyone lets it go up and doesn't sell right away. I would like to see this go to at least a quarter. I have done some DD though and it sounds like the same promises that we have been hearing for a while. I hate to use the words hope and pray....but it seems like after the GWGO/GWGD episode that it all you can do with stocks that you can't sell at a profit.
-------------------- I wish aliens would come down from space & make me thier pet I would like a bed with my name on it
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Volume already higher than all of yesterday.
Boneyard, it would be ideal if everyone would hold for bigger numbers, but that's not going to happen. I figure it's going to be a huge sell off at .0002, because there's a lot of traders that just want a double. I would like to get a double too and buy back at .0001, but what if you sold for a double or triple and it just kept going up. Then you wouldn't be able to get back in for a gain. That's a tough decision to make.
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not tough for me... ill take a triple any day.. there are thousands of other stocks out there to play another day.
but i do see your point. I knew last year this company had potential.. ethanol is a good market to be in for the future, especially with higher oil price and demand
How DARE you tell me I can't but JMCP! Yet, I suppose you'd let me buy RVME, right? That company is a reverse split machine! WHY are you prohibiting me from buying JMCP? Scottrade has resumed taking buy orders. Why haven't YOU? Haven't covered your short position yet?
I am seriously considering going to a competitor because of this. ___________________ Ameritrade's response:
I cannot go into detail with you why the decision to restrict purchases of JMCP was made. I can tell you that we take the decision to restrict trading very seriously. While all trading of securities involves risk, sometimes the level of risk associated with a specific security is escalated beyond what is considered reasonable to TD AMERITRADE.
Thank you,
Mike A. Apex Client Services, TD AMERITRADE Division of TD AMERITRADE, Inc. _____________________________ Ameritrade, bite me!
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Maybe that's why it's not moving from .0001, some brokers are still not allowing buys. This will become very interesting come June 1 when we are moved to the Royalty Trust and brokers with short positions are forced to cover. Sorry Winsum, but we'll be going to the moon....
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If they release their complete final Oil deal NEWS on Mai 29-30....with some buying pressure ----> "brokers with short positions are forced to cover before June 1.".........mmmmmmm......uptick
Like Def Leppard song : Rocket yeah satellite of love!!!!!
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It will go up if things go as they plan. The Trust will most likely pay dividends, so that alone will cause the pps to skyrocket. Example: Say you had 1M shares and they paid a .0001 cent dividen. You would get $100 no matter what the pps was and you still keep your shares.
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Unless the bid goes to .0002 anyone selling will be selling at .0001 to me it's not worth selling at .0001 i am waiting for the bid to go up and stay up.
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The bid would probably go to .0002 if they would stop selling at .0001. There's no gain in that, so maybe Frank is still colecting funds to complete the gold mine deal.
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Short and Sweet....nice...
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