From 10-K....seems like an outside Board member received 20,000 warrants
to buy USEG. Why? What price ? Duration ? Would not want to inform the 'common' shareholders. Evidently, did not want issue the director stock options.
The Board of Directors continues to support management at the expense of the 'common' shareholders.
There was also quite the misrepresentation in the 10- K. It is as follows : We depend on key personnel.
Our employees have experience in dealing with the acquisition of and financing of mineral properties, but we have a limited technical staff and executive group. From time to time we rely on third party consultants for professional engineering, geophysical and geological advice in oil and gas matters. The loss of key employees could adversely impact our business, as finding replacements could be difficult as a result of competition for experienced personnel in the oil and gas and minerals industry.
I am willing to risk 'losing' this management team.
The "do nothing" .... Larsen Clan .... seems like they buy the "Board" ... they can't seem to do anything else that would keep their jobs .... they're as "out of control" as our Federal Budget .... always in the red .... spending foolishly on their own interests .... surely not those of the common shareholder ..... they always were "bums" .... their track record of perpetually losing money only seems to give them the one option of catering to the Board to keep them in office .... if they were graded by their accomplishments they'd have been gone years ago .... but, the Board in their finest wisdom, keeps them .... you don't have to wonder why ..... the "Larsen Clan" and their "Board" buddies deserve a one way ticket out .... too bad it's not "go directly to" you know where .....