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Infinity Energy Resources Inc. Message Board

  • stantheassisright stantheassisright Jan 10, 2013 6:10 PM Flag

    10Q out and this is unreal

    So the Form 10Q is out it seems, and in it (according to my nephew) the managment team granted themselves 1.5 million options...for doing nothing....except almost running company into ground...WOW!!! I mean, think about how many options they'll give themselves if they actually sign a deal? Or find oil. You get 7.5% of the company for doing nothing...I think they deserve 100% for doing something, no?

    Stan should answer for this to you guys still owning stock. You just, in a swipe of a pen, had 7.5% of your stock stolen, by a management team that did ABSOLUTELY NOTHING.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • At the end of Sep., this company had $95k in cash, and over $5 million in debt. Negative shareholder equity. Negative cash flow. No revenue. Investing in this means trusting a couple of guys you don't anything about making promises about what they're doing in Central America.

      You must be kidding.

      Sentiment: Strong Sell

    • I looked thru the 10Q and the section that addresses stock options shows none were issued in 2012 (as of Sept. 30). Where is your nephew finding that 1.5M options were issued?

    • You sold. Now leave. You remind me of the original Stan the #$%$.

    • bimbo_nicaragua_honey bimbo_nicaragua_honey Jan 10, 2013 11:19 PM Flag

      Well new guy on the block, here is a little rebuttal.

      First, this is bullish at best and neutral at worst. Yes, stock options at a strike price that is twice the current closing price can be construed in such a way.
      If the company is as worthless as you suggest, then all the options in the world at an exercise price that is twice the current market price won`t do them any good.

      Second, to say they have done nothing is just naieve. Yes, it has taken a long time to get a deal. In the meantime, every time NBL gives a presentation and discusses their Nic project and increasing projections of their concession, our company is worth more. Perhaps much , much more. So in this case, it actually has been better to delay a deal and just let NBL talk up the prospects.

      • 1 Reply to bimbo_nicaragua_honey
      • Good point about the delay in any deal. I do not think Stan has intentionally been delaying a deal, but things are indeed happening down in Nicaragua. Noble expects to spud its first exploration well in 2013 and to make a net investment down there of $90-$335 million in the next three years. In December 2012, Repsol announced that it is interested in exploring for oil off NIcaragua's Caribbean coast. The conversion of over $21M in debt to equity during 2012 was a significant development, especially given that IFNY was in default on that debt and had no real means to cure that default. Stan has not been doing nothing, but I think many of us longs think he could be a little more active. IFNY does not have to wait until Noble is producing oil before moving forward on its acreage. The true value of IFNY will not be known until it is determined if there is oil and how much.

    • If you are going to talk about the 10K perhaps you should read it yourself before you talk about it.

 
IFNY
0.97-0.12(-11.01%)Sep 17 3:53 PMEDT

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