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1st NRG Corp. Message Board

  • cropduster08 cropduster08 Dec 31, 2013 10:46 PM Flag

    Second batch of new equity sold

    If you are following FNRC's SEC filings, you will see that yesterday they posted another Form D for the sale and issue of equity. This apparently is the sale of shares the IR department said was being used to fund drilling. Plus, we have Todd confirming with the CEO, Mr. Norris, that the surface casing has been set for the first drilling site in Wyoming, out of 8 wells to eventually be drilled in that area. FNRC has a 66% working interest in those additional 8 wells, as I recall.

    In any event, $50,000 in additional equity was issued on 11-26-2013 from the Form D posted 12-04-13. An additional $30,000 was then issued about a week and a half ago on 12-20-13 from the Form D posted yesterday 12-30-13.

    $920,000 remains to be issued, if anyone reading this is interested. Minimum investment is $30,000, according to the filing.

    Think about it. Two investors have now invested their hard earned capital in FNRC's drilling program and are receiving equity for their time and effort. Would anyone in their right mind invest in this company at such a level if they had not received assurances from management that chances are good they will receive a good return on their investment? I have no doubt that if a serious investor would contact Mr. Norris that he would lay it all out for you if you seemed serious about investing money in FNRC. As I have said before, this company could have declared bankruptcy way before now if they had been inclined to do so. This latest development simply reinforces to me the notion that they definitely plan to make a go of it.

    Happy New Year all!

    Trading in the new year may get interesting now that tax selling is pretty much over.


    Sentiment: Buy

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