Author Topic: Bashing on bennies and espresso  (Read 1384 times)

Bashing on bennies and espresso
« on: June 26, 2013, 03:56:43 PM »

RSI30

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Tired of incorrect statements and the accelerating arrogance of the resident  ihub  XTOG basher. I penned this rebuttal post with hope that exposing obvious errors would quell Mr. Water Molecule (at least for a day) …..ihub deleted my post without contest
The post on ihub now is the one JT kindly “cleaned” to PG sensitivity and reposted (Thank you JT)
 
Below is the unedited version, japes, attitude and sarcasm included……enjoy. ::)
 
Bashing on bennies and espresso

My reflecting on what I consider to be misleading posts may vex the ire of our exceedingly negative moderator with the logo resembling a water molecule .…. so read quickly.

RE: Post #930
“162,000,000 shares. This will never see .01 again. Posts about note converting at .28 were dead wrong. More conversions to come”
.30 prediction is a fricken joke, that would give this 50 million market cap.

With the Torchlight and Heritage joint ventures development of four properties to production level is almost a certainty.  If someone told you “I know this stock that is poised have a % sales increase of four figures.” Would you consider it worth holding? ??? I don’t know a stock that was oversold below its asset value posting massive sales increase that hasn’t spiked. 

I don’t think the .30 prediction is a joke, not if production PR and revenue starts pouring in. Only time will tell which one of us will be eating crow.  If I am right, your crow is going to turn into my lobster dinner on the Mediterranean. 

“Will Mcandrews has moved on and found a new gig already.’

Our CEO I affectionately call “Willie Mc A the 3” is a founder of this company and major shareholder.  It is absurd to suggest he is leaving his own company, if anything he is working double time to turn XTOG around this year.    His consulting to Torchlight was merely perk to close the joint venture.  (Nice of you to elude to the fact that Willie might be worth something as a CEO)

“10k said they will authorize more than 200 million shares.”

Ok, No…. perhaps if you make about 20 precluding assumptions. It was suggested they might to convert the insider preferred shares one day…...

RE: Post #935
 “Always read the subsequent events....”
9. SUBSEQUENT EVENTS In the second quarter of 2013, we issued 95,214,407 free trading shares of our common stock valued at $913,804 to various convertible note holders converting outstanding principal and interest
 
ITEM 2. RECENT SALES OF UNREGISTERED SECURITIESIn the second quarter of 2013, we issued 95,214,407 restricted shares of our common stock valued at $913,804 to various convertible note holders for settlement principal and interest.
 
I appreciate prosaic reading can’t help but be anything but prosaic.  This is some serious amount of pride for making through an entire Q1.
 
Leading to Post #942
“Only a moron would think a stock with 162 million shares has a float under 10 million shares.
Read the 10Q, 95 million shares issued, Free trading! That makes them part of the float.
The float is well over 125 million shares!”
 
From where does such certainty that the shares are free trading come from?  Item 2 contradicts item 9. There are no specific dates. With both in the same quarterly Item 9 is subsequent to nothing…. One has to admit there is room for doubt here and not a ball to run with.
 
The next question is “Who were the notes holders that converted?” I believe the answer is mostly related parties and arms reach investors who have supported this company through this tough time after the Lionheart well went out of commission by a contactor.   This dilution was not a public offering nor was it without consideration and conscience.  Ownership by related parties is not considered part of the float.

I am to join the ranks of the moronic as I do not believe the float has changed much.   If you do not believe me, take a look at what the iHub “morons” posted on the XTOG home page.  IHub adjusted the shares outstanding and Market Cap, but only increased their float number by 2 mil to 22.56 mil.  (I check two other investment websites, they concurred with iHub)

I have to confess, when I subtract insider shares, restricted, preferred etc… my float number is close to JT the DD King. I haven’t found the other 10 mil.  Perhaps iHubs’ 22.56 is a conservative number which includes the calculation for the September shares???   Anyone???

With regards to post #786 I believe Stokley is still an insider retired or not.  He is listed as a beneficial owner in the 10k and within arms length. This small group of directors probably golf and BBQ with each other on the weekends.  (Martha Stewart went to jail for insider trading because she received a phone call from a distant friend on the board.)

Regardless,  22.56 mil is a far cry from the 125 mil being spewed.

RE: Post #950
“This stock is still over valued at. .004,”

Huh???
At .004 the new adjusted market cap is 650k
OR:  7.44% of the 8.7 million in assets stated in the Q1.
OR:  Approximately 70% discount to book as the dilution wiped out the majority of their debt.  (Accurate numbers to follow in the Q2).
OR:   42% of the 1.5mil in cash from the Torchlight and Heritage deals.
Most people would look at those numbers and think this stock is undervalued. 

Re: post #957
“It certainly is. Knowing they were going to convert and issue millions of shares when others DD did not understand how convertible notes worked. Then went preaching about a conversion at .28, when 97,000,000 converted at .01 Knowing the float was much higher and well over 125,000,000 shares now is REAL DD....”

No need to bench press with a chest puffed out this far…At this point you might as well change your logo to a coffee bean and a pill.

A great many posts have focused on the last line of the 2012 Q3 SEC 4 Convertible notes payable. ‘The conversion price of the notes and warrants will be reduced in the event the Company issues or sells any shares of common stock less than the conversion price.”

What has been conveniently overlooked is the anti-dilutive clause five lines above:  “the lender has the right to convert all or any part of the outstanding and unpaid principal and interest into shares of the Company’s common stock; provided however, that in no event shall the lender be entitled to convert any portion of the notes that would result in the beneficial ownership by it and its affiliates to be more than 9.99% of the outstanding shares of the Company's common stock.”  (See, anyone can cut and paste)

If one does the math you will find that converting notes at the prices we are being scared into believing would be a great deal higher than 9.99% of the shares outstanding. Anti-dilutive features were put there to stop a creditor from having controlling ownership. The company has every right to dismiss the conversion based on this clause.

Another point about convertible shares….  The fixed price of .28 is a strike price. Converting is an option not a requirement.  If the shares are below the conversion price the creditor (most often) does not choose conversion. 

I am not certain what price or if the shares will convert at all, but I am pretty sure the strike price and anti dilutive clause will mean something at the end of the day….

I generally enjoy bashers. A board without bears would be the equivalent of a dull lineal plot line with no antagonist. With hope, both sides of colorful banter will result in a 360 view of a stock… but then there is bashing on bennies and espresso.

Our moderator with the logo resembling a water molecule has posted on the XTOG board 157 times. (I consider myself lucky not to be in RDMP where this person has posted 368x.)   Who puts this much energy into bashing a stock? Seriously dude, it is summer time, you need to get out of your mothers’ basement and enjoy the sunshine.

Flawed DD will cost you money.  I couldn’t agree more.  GLTA

Re: Bashing on bennies and espresso
« Reply #1 on: June 26, 2013, 04:10:24 PM »

money11788

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I have all my AASP posts banned and i am in IH jail   LMFAO   I posted the banned correspondence in IH banned posts

Re: Bashing on bennies and espresso
« Reply #2 on: June 26, 2013, 04:15:24 PM »

joeyohso

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Who titled this "Bashing on bennies and espresso" and why LOL.  Just curious to know if whoever made that knows what a benny is

Re: Bashing on bennies and espresso
« Reply #3 on: June 26, 2013, 05:01:58 PM »

JT

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Cool! I'm glad RSI made it over here. A friend was just asking me about XTOG & RSI is da man on this ticker.  The only thing I can't figure out is why either the MM's or someone goes very far out of their way to keep this under 7's and for so long. Btw I'm loaded large now on XTOG. I'm a believer so when it drops to a new low, I load. I think I have close to a mil at around $.009 too.

Re: Bashing on bennies and espresso
« Reply #4 on: June 26, 2013, 05:56:10 PM »

RSI30

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LOL I did, 
Doing anything on bennies and espresso is just this phrase I coined and keep in my lexicon for sarcasm.
The “benny”  I know is a sedative used to treat panic attacks & anxiety…   thus doing anything on a benny and caffeine would be rationalising in emotional mayhem.
I image you were thinking of  Benny the annoying tourist ???

Re: Bashing on bennies and espresso
« Reply #5 on: June 26, 2013, 06:00:42 PM »

Nemo

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I can literally read this over and over and laugh at the sarcastic humor in it. Its priceless

Re: Bashing on bennies and espresso
« Reply #6 on: June 26, 2013, 06:46:28 PM »

JT

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Joey is a wee bit young, oh wait all of you are too young to remember the "Diet pill" craze of the 1970's which were countered with Benzodiapines so one could sleep. Benny's are Valium, Xanax etc. lol! No old jokes Joey! :-)


LOL I did, 
Doing anything on bennies and espresso is just this phrase I coined and keep in my lexicon for sarcasm.
The “benny”  I know is a sedative used to treat panic attacks & anxiety…   thus doing anything on a benny and caffeine would be rationalising in emotional mayhem.
I image you were thinking of  Benny the annoying tourist ???

Re: Bashing on bennies and espresso
« Reply #7 on: June 27, 2013, 02:03:48 PM »

joeyohso

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LOL, where I'm from a Benny is yes, an annoying tourist.  Basically all the crazy juice heads from Jersey and New York who invade all of the beach towns in Jersey.  I think in 1970 I was negative 15 years old lol.  You want to see a movie with a Benny in it, check out Requiem for a Dream.  Great movie, all about how people get addicted to drugs.  The one lady was taking diet pills, like JT probably use to or still is and taking the Benny to go to sleep.  Check it out

Joey is a wee bit young, oh wait all of you are too young to remember the "Diet pill" craze of the 1970's which were countered with Benzodiapines so one could sleep. Benny's are Valium, Xanax etc. lol! No old jokes Joey! :-)


LOL I did, 
Doing anything on bennies and espresso is just this phrase I coined and keep in my lexicon for sarcasm.
The “benny”  I know is a sedative used to treat panic attacks & anxiety…   thus doing anything on a benny and caffeine would be rationalising in emotional mayhem.
I image you were thinking of  Benny the annoying tourist ???