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Cleantech Solutions International, Inc. Message Board

h_grant_h 9 posts  |  Last Activity: Aug 7, 2014 10:48 AM Member since: Aug 28, 2006
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  • h_grant_h h_grant_h Aug 7, 2014 10:48 AM Flag

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  • h_grant_h h_grant_h Aug 7, 2014 10:37 AM Flag

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  • Let's be honest, folks. By firing PWC, a legit Big-4 that would have really given a chance for NQ to restore some of the credibility in the end, however long it might have taken to complete the audit, company finally did itself in - guilty as charged.

    For all the intents and purposes, NQ lied again in its latest PR with regard to firing PWC. There're clearly big "disagreement" about the audit and the procedures to conduct what are considered necessary by PWC. But NQ clearly disagreed - NQ won't be able to substantiate its claims made to PWC.

    Because PWC clearly didn't want to risk its reputation this time with NQ, it didn't bulge on its audit positions. PWC would rather lose the work contract with NQ! Wow. NQ is really a fraud and the Wall Street will have no choice but to treat it as such.

    What is the cash value for the stock? Can those big investors sue and get the money back? I doubt it very much.

  • h_grant_h h_grant_h May 22, 2014 3:43 PM Flag

    And having shorted enough shares into the big chase, Roth Capital will announce the new share offer pricing. It's going to be $2.75/share.

    And like clock work, the stock crashes down under $3. It's disgusting, they finally realize. "Too late! Already lost big time."

  • Read the PR, and read it again.

    It didn't say anything substantive. They simply said that they looked at the 3D result, and feeling lucky; will send it to a third party for professional interpretation.

    Basically, they're not real experts in 3D survey, and they needed help. They're really clueless !!

    It's always funny when the big crowd just chase anything moves. And they're always getting slaughtered in the process. What else is new?

  • Reply to

    Rampart secured $50 million loan already

    by edvoks May 22, 2014 12:46 PM
    h_grant_h h_grant_h May 22, 2014 1:19 PM Flag

    The funny thing about that deal with Rampart was truly mind-boggling - it tells you a true story about how stupid this Royale management team has been.

    From very beginning, the funding was readily available to Royale, only if they had looked for it!

    But instead, it sold 75% WI for nothing - Rampart owners are a lot more creative and hard working. They simply sent out some documents with the help of Royale; and viola, the funding came running to them. It's just that simple.

    The worst part for Royale was that, If you look closely, once Rampart expenses reach $30 mln, Rampart would be entitled to 75% of WI, and take a free ride home. Meanwhile, Royale would be stuck with the remaining project, for a mere 25% of WI.

    So, in case of a cost overrun, which is definitely in the cards, Royale would be dead in the water - the burden of the costs over $30 mln will be all Royale's to bear. Rampart will be sitting in a nice office and enjoying the scenery.

    The Royale management team is really not the kind of people you want to bet big money with.

  • Reply to

    Rampart secured $50 million loan already

    by edvoks May 22, 2014 12:46 PM
    h_grant_h h_grant_h May 22, 2014 1:01 PM Flag

    Rampart looked a lot smarter than Royale did with this funding so easily available to Royale as well. But instead, Royale gave up 75% WI interests to Rampart for practically some leg works!

    You wonder why ROYL has never been able to make it big for over 10 years? That management team has had no heart - they have never wanted to work hard.

    ROYL is going to crash like every other time - it sold 75% WI for peanuts. Oh well, the chart tells a true story about ROYL.

  • Reply to

    no dilution to drill

    by rvcassociates May 22, 2014 11:13 AM
    h_grant_h h_grant_h May 22, 2014 11:32 AM Flag

    Rampart has no money. None. It paid for the 3D, and the $3.4mln to ROYL for the rights to drill and earn up to 75% WI in the west block, which is considered the shale oil.

    If Rampart could come up with $30 mln, it would start to drill in 2015, the first two exploration wells. Royale would cover the rest of the cost.

    Royale has hired Roth Capital to help to raise $10mln. And I think Roth is responsible for this jack-up act. I think the stock will go back to $3, could be lower, for the new share offer coming up.

  • Reply to

    no dilution to drill

    by rvcassociates May 22, 2014 11:13 AM
    h_grant_h h_grant_h May 22, 2014 11:15 AM Flag

    Rampart only covers the 3D survey.

    Drilling costs are to be shared.

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