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Oncolytics Biotech, Inc. Message Board

  • joehj815 joehj815 Feb 5, 2006 2:18 PM Flag

    FNGC/Going Concern

    "Our continuation as a going concern is dependent upon obtaining of approximately $5.5 million of additional financing to drill a replacement well on the DB Prospect. If we are unable to continue as a going concern,YOU WILL LOSE YOUR ENTIRE INVESTMENT"

    The statement really scare me. May I lose my entire investment?

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    • $0.56 x 63 million shares = $35 million
      $0.56 x 33.9 million shares = $19 million
      $0.46 x 43.478 million shares = $18.9 million
      $0.345 x 57.91 million shares = $18.9 million
      $0.23 x 60 million shares = $14.16 million
      $0.115 x 60 million shares = $7.04 million.

      How many shares Cornell plan to sell depent entirely upon the market price of the FNGC share.

    • Joeh... I'm concerned about you and your investing prowess. My advice to you is to sell all of your shares and put your proceeds under the mattress.

      If you never read an SEC prospectus before. Absolutely there is a ton of risk. However that part of the prospectus was also written prior to a) this latest refinance which gives Falcon access to a total amt of $35 million and b) prior to them drilling Live Oak and Gemini... which will begin revenue production this week.

      However, if you are really a nervous nelly on this... and this represents more than you can stand to lose... you might want to consider opening up a christmas savings account somewhere... where you can now generate approximately 5%.

      Good luck with that.

    • Armed... I'm crazy swamped today. I did not see the wings/avalanche. Even though I live here... my heart is still in Boston. Have never even been to a game here.

      That said... the snow was great over the weekend. But every one and their grandmother was up on the slopes. Going again on Thursday for a couple of days.

      Hope your life is going well you crazy bastard. We need to get you another hobby so that you can take your aggressions out on a punching bag as opposed to the likes of Swarfy. I know you're just having fun!

      Enjoy your day.

    • Let's see swarf... it's not how much time... its what you DO with it. So YOU wind up talking about how you have been researching posts and then you want to check to see if Armed and I joined the V2 board. Give me a fuckin' break. THAT's a waste of your time. And now you're wasting my time. If you don't think it's a good investment... just ignore it.

    • lifeisveryfunny101 wrote:
      "So YOU wind up talking about how you have been researching posts and then you want to check to see if Armed and I joined the V2 board."

      Research? I read pretty much everything on this board. It is hard to miss your OT pumping of FNGC - that would be you wasting my time. Frankly, I don't give a rat's whether you are on the V2 board.

      "If you don't think it's a good investment... just ignore it."

      Ignore FNGC is pretty much what I'd like to do.

    • I thought going concern was a typo mistake and that it should have been '' growing concern''

    • Going Concern

      In its report dated March 28, 2005, our auditors, Williams & Webster, P.S., expressed an opinion that there is substantial doubt about our ability to continue as a going concern. We have been in the exploration stage and have had no revenues since inception. For the year ended December 31, 2004, we recorded a loss of $5,511,069. As of December 31, 2004 and September 30, 2005, we had a deficit accumulated during the exploration state of $5,511,069 and $7,203,197, respectively. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The financial statements do not include any adjustments relating to the recoverability of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue in existence. Our continuation as a going concern is dependent upon future events, including the obtaining of approximately $5.5 million of additional financing to drill a replacement well on the DB Prospect. If we are unable to continue as a going concern, you will lose your entire investment.

    • You know Joeh... you scare me big time. I see you as this single man in a old house by the lake. You're amazing in that you are like a feather blowing in the wind. One day you are buying... the next day you are selling. You have done and also said that time and again with ONCY as well. Are you sure stocks are the best hobby of choice for you??? Good thing you are not an air traffic controller... because you could never make a decision. I am not saying any of this to be mean... but your decisions really do sway back and forth like a palm tree in a hurricane.

      - Did you not understand that the specific reasoning for the SEC filing was to specifically to ensure that there would be plenty of money on hand to drill the DB3 prospect???

      - Have you missed entirely that there are now 2 wells in production... whose income or the sale of their interest will also fund the next stage of their operations, i.e. DB3???

      But G-d forbid swarfy thinks I am attempting to pump this. Just do your homework ON YOUR OWN... and make a decision that's best for you. Then take some prozac... and you'll be fine. You might also want to consider bingo on Thursday nites.


    • Scammer... all I was doing was making a mere observation of Joeh. I really could care less whether he buys or sells the stock. I was merely observing that the man often goes to a strong buy to a strong sell in the course of a day... on not just FNGC but ONCY as well. And he seems to do this with every last post that he sees. As of said before to him... get off the board and don't take my word for anything. Go do your own DD and then do what's best for you. Period.

    • Good luck with FNGC. It could be a 10 - 100 bagger, i.e. your $20,000 investment could turn into $200,000 - $2,000,000. I wish it become just that. I liquidated all with a loss of about $3,000.

      Life, I am very good in playing BlackJack & Baccarat. I'v been in Las Vegas in numerous time on junket flights. I can say that I'm a calculated risk taker.

      With the FNGC, it sound just not right. They found two producing wells but struggle to secure $5.5 additional fund from Cornell. If they indeed drilled two commercially producing wells, they do not need any more financing. Perhaps, they found some gas producing wells, but it could be not commercial grade!!! Here comes the calculated risk. To me, with $20,000, playing BlackJack in Las Vegas would give better return.

      Good Luck, however, all of you who invested in FNGC.


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