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PENN OCTANE CP Message Board

  • ulatec30000 ulatec30000 Jun 30, 2004 11:52 AM Flag

    Too many bashers on this board

    Which usually means that there are a lot of eager buyers who want to buy in but they want lower prices to do so


    Always a good sign for the stock , means that the stock is attractive !

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    • Excellent Post. You made some excellent points and also raised some as well.

      The real issue is this, management ought to be forthcoming in these issues. Spinning off a majority of the assets into an MLP is no ordinary item. They ought to inform the shareholders in a fashion that is consistant with most other publicly traded companies, and that is to hold a conference call, or at the very least, issue an 8-k or a press release. They do not need to release volumes, just a tentative date of spin-off, what will happen to the stub etc.

      I still feel that the shareholders were robbed by management when they sold themselves 50% of the GP at dirt cheap prices(this has not been addressed by any of the shareholders on the board -recently-that I am aware of). There is a much larger fundamental problem here aside from the company being at a strategic crossroads, the problem at hand is this: Is the the current management team ethical and are they looking out for the interests of the shareholders or themselves. Every time i read through the 10-Q's and the 10-k's they file and other releases(looking at the myriad of transactions and self dealings), I get that sickly feeling that this is a very corrupt group of individuals. I realize that my posts seem very negative but I have asked several important questions and it would seem that the current longs ought to know the answers to these simple questions..

    • Boards are for gathering information, putting out information, stating once option, and more. You are right, there is a lot of bashing going on. The way to silent that is for management to get this company moving in the right direction, the stock price will follow. I would be the first to praise management. But this stock continues to go down and the bashing goes up.

    • Sometimes the truth hurts. There is a reason that POCC is trading at less than $2.00 a share. I would like for you to explain why its good for POCC that management buy 50% of the GP at a price equal to just the 2% economic stake that the GP retains, yet give the shareholders no consideration for the incentive distribution rights. Do you realize that management sold itself the gem for peanuts. Please also explain the many self-dealings with management loaning money and then being paid back in stock etc etc. No, these are bashes, they are the truth. Also, why won't management come out and tell the shareholders when Rio Vista is going to get spun off, and what will happen to the stub that remains(i.e. reverse split, 1 for 100) etc etc. Has management ever heard of disclosure..........

      • 1 Reply to rrb1981
      • <<< Sometimes the truth hurts. There is a reason that POCC is trading at less than $2.00 a share. I would like for you to explain why its good for POCC that management buy 50% of the GP at a price equal to just the 2% economic stake that the GP retains, yet give the shareholders no consideration for the incentive distribution rights. Do you realize that management sold itself the gem for peanuts. Please also explain the many self-dealings with management loaning money and then being paid back in stock etc etc. No, these are bashes, they are the truth. Also, why won't management come out and tell the shareholders when Rio Vista is going to get spun off, and what will happen to the stub that remains(i.e. reverse split, 1 for 100) etc etc. Has management ever heard of disclosure.......... >>


        Having taken a good hard look at POCC's balance sheet , revenues and earning year on year I have come to the conclusion that POCC
        is significantly UNDERVALUED here and I have therefore started buying in at the 1.90 range


        You sir may be a bitter shareholder from the past having bought in higher or you may be a basher trying to buy in lower who knows


        All I know is this stock should be trading much higher based on the numbers therefore I have bought shares and I'm prepared to wait for the share price to reflect the company's true value


        Good luck to all true investors !