Use it as they need but not for salary or bonuses unless revenue increases even more from solid achievement. For example, signing a deal to get CO2 supplies should not result in a bonus at the end of the year. The CO2 offer is on the table--either do it or don't but do not expect huzzahs in the form of more moolah to management.
"Cantor Fitzgerald, who recently made news for settling a 9/11-related lawsuit after their offices were forced to be closed for one month following the attack, used Cantor Gaming to break into the Las Vegas sports betting market. According to company estimates, it controls 30 percent of Nevada’s sports betting market."
The Company may use the ATM facility, and the Shelf, on an as-needed basis for general corporate purposes, which may include the payment of dividends on its Series A Preferred Stock or the funding of the development of the Company's CO2-enhanced oil recovery ("CO2-EOR") business at Poplar or in Utah.
The Company has no immediate plans to issue shares pursuant to the ATM facility or the Shelf, which are intended to provide financial flexibility going forward. As of the date hereof, no securities have been issued under either the Shelf or the ATM facility.
Shelf registration for $100 million filed S-3 11/17 (accessible through website.) ATM announced 12/24 for $10 million. ATM is $10 million of the Shelf $100 million. All info transparent and available at the touch of a keyboard ...
Same to you mrsports. How anyone can give a thumbs down for your wish that everyone have happiness only shows the immaturity of that "thumbs down" poster.
Cantor Growth Plan Sputters as 41% of Touted Hires Exit
By Zeke Faux Jan 10, 2013 4:44 PM ET
Cantor Seeking Gambling License in Macau, CEO Says
Cantor CEO: Our Comp Model Is Eat What You Kill
"Steven Kantor, then head of investment banking for Cantor Fitzgerald LP, gathered his staff about a year ago for a holiday party in his 82nd-floor apartment in Trump World Tower overlooking the United Nations.
The bankers discussed the brokerage’s renewed push into underwriting and merger advice while drinking Avion, a tequila in which Kantor, 55, personally invests, according to five guests. Within about 10 weeks, more than half of his 50 bankers had been fired or reassigned.
Chief Executive Officer Howard Lutnick’s drive to turn one of the largest independent U.S. brokerages into a rival to Wall Street’s investment banks has been pocked with dismissals and defections. Forty-one percent of the 158 traders and bankers whose hirings Cantor announced in news releases since 2009 have left, industry records show. In interviews, 19 current and former employees blamed Cantor’s reluctance to commit money to deals and pressure to turn immediate profits.............'
Cantor’s Approach to ATM Execution
At Cantor Fitzgerald, orders are executed by dedicated ATM capital
market traders who are entirely focused on issuers
Information flows only one way from Cantor’s 15 trading floors to the ATM capital markets traders. Even internally at Cantor, the ATM capital market trader’s execution remains anonymous...
"The Company has no obligation to sell any shares under the Sales Agreement, and the Company or Cantor may suspend the Offering subject to certain conditions. The Company has agreed in the Sales Agreement to provide indemnification and contribution to Cantor against certain liabilities, including liabilities under the Securities Act."..
Cantor Fitzgerald does a lot of these "deals". Have to laugh at some of the criticism:
"Certain players in the marketplace insist on deriding the ATM transaction. ATMs are only for struggling, cash-strapped micro-caps, they say. Or it’s only for companies who can’t raise money another, more traditional, presumably “better” way. Here’s another common assertion: ATMs are really only an option for raising capital in a down market.
Those who insist on perpetuating these misperceptions are protecting a hidebound interest in more costly secondary offerings. But these traditional offerings distance the interests of management from those of their advisors. While the larger offering generates a bigger underwriter’s fee, it also distracts management, diminishes the capital raised and dilutes shareholders."
I remember when PIPE Deals were the rage! LOL Remember all the small companies doing those? Remember how they turned out? ( TOXIC ). Nothing "new" under the sun, I guess.....
"For the trading desk handling the ATM offering, however, the ATM commission is higher than a typical trading commission so it’s an attractive form of offering for Wall Street trading desks.
Wall Street investors, however, are typically less enthusiastic about ATMs. Investors fear that securities offered through the ATM will satisfy new demand and prevent a stock from rising in price....."
Sentiment: Strong Sell
NWG, I noted that you haven't received an answer to your specific question. I don't think it is a matter of acreage. I believe it is the rights to the carbon dioxide, with an option to purchase contracted and/or uncontracted gas.
"The two major criticisms of EOR are that the process produces additional oil, a fossil fuel that ultimately produces CO2 and other pollutants when combusted in vehicles, and the potential for the CO2 used in the oil field to escape to the atmosphere during EOR operations or afterwards. Other criticisms of EOR are more general and reflect the concern that investments in EOR and other methods to capture carbon from fossil fuels are too expensive or will distract society from the ultimate long-term need for society to transition away from finite fossil fuels and toward renewable energy. .."
Tell babsie not to take in too much CO2
"Humans, flora, and fauna experience virtually no adverse effects when exposed to concentrations of CO2 below 1%
(10,000 ppm). While CO2 is essential for plant photosynthesis processes, it can pose adverse health effects for humans when exposure concentrations are elevated (Benson et al., 2002; Vendrig et al., 2003).
When humans are exposed to atmospheric concentrations of CO2 between 3% and 5%, they experience respiratory rate increase, and physical discomfort such as headache and dizziness may occur. When the CO2 concentration is above 5%, physical and mental capacities are impaired, and loss of consciousness can occur. Exposure to more than 10% CO2 can result in rapid loss of consciousness, possible coma, or death. Plants, insects, and soil organisms have a higher tolerance than humans to elevated CO2 concentrations. In general, only a few microbes, invertebrates, insects, and fungi can survive in CO2 concentrations in excess of 20% (Jarrell et al., 2002; Benson et al., 2002; Vendrig et al., 2003)."
Savoy Energy LLC, P.O. Box 87, Manti, UTAH.
Wells Associated With Savoy Energy, LLC
# 43-007-30818 EDP 1 Carbon Current Shut-In
# 43-007-31262 SAVOY 2 Carbon Current Plugged & Abandoned
# 43-007-31263 SAVOY 1 Carbon Current Shut-In
# 43-015-30083 ALKER-FED 1-8 Emery Not Current Shut-In
# 43-015-30135 FERRON FED 14-27 Emery Current Plugged & Abandoned
Sentiment: Strong Sell