Not until they get closer to the billion shares authorized...they only have 400 million or so outstanding I'm guessing....remember VV has preferred stock that's convertible into , I believe, a billion shares ....
There is nothing to BK.
The company is a share issuing machine...check out what the authorized shares they can issue...I think it's a billion shares.
To put it in perspective 30 million shares is just $27,000 .
The video was shot for another Money TV promo. They are probably dumping shares in order to be paid.
I applaud VV for actually following thru and making a video showing the sites. What you don't know is if any of the oil you saw was edited in from another lease that PDGO has no interest in. JMO.
Typical VV. talks about how the oil field has 7 billion barrels, them proceeds to say they have to work hard to pull up 80 bbls in a month. Iu0027m guessing someone else is doing all the work and PDGO lease interest is pretty low. Numbers filed donu0027t even come close to the PRu0027s.
Auditor's report? Give me a break. Ha ha! There will never be any official audited statements. Why? Because of all the claims VV has made in PR's over the last two years, none of it will match up to the real numbers. Before last month's farcical conference call didn't VV promise that audited financials would be ready in early 2014? How about his claims of millions of dollars of revenue in 2014? Are you still counting on that? Penny stock shareholders always believe what management tells them for some reason. The only thing you will see millions of newly issued shares. VV track record is there for all to research and it is not flattering. I think come January 2015 you'll tell yourself that you give Vince another 90 days, and then another 90 days until you realize that you've been had IMO.
Why would an entertainment guy all of sudden be qualified to run and O&G company?
Sorry to burst your bubble.
They will never, ever file the necessary paperwork with the SEC. If you ever see a picture of Vince's office, you'll find boxes and boxes of files just sitting in the middle of the room. Don't believe for a second that any audited financials will come from PDGO or any 10-Q or 10-K's especially if it's VV promising that information.
Looks how well he has done with his promises of millions of dollars of revenue from all his press releases over the past couple of years.
Go to the third paragraph of this earlier PR. Now compare it to the numbers they just released in the new PR. Where are the two wells producing 100 bbls per day and where is the one well producing 50-60 bbls per day?
VV can't even keep his stories straight. I personally believe that the numbers in this most current PR are complete fabrications. Does PDGO have eight wells, 17 wells, 100 wells? Did PDGO shut off three of the highest producing wells because they had no one to work them? How is VV going to produce millions of revenue per month when he can't even verifiably produce thousands of dollars per month?
Dallas, TX / ACCESSWIRE / July 7, 2014 / Paradigm Oil and Gas, Inc. (OTC Pink/PINK SHEETS: PDGO), a leading service provider to the oil and gas industry with expanding operations in oil and gas production, today announced the acquisition of 64 new wells in a 1.5 million dollar cash and preferred stock transaction with Black Jack Services, Magnum Operating, and Johnson Trust.
In May of 2014, Paradigm Oil and Gas completed a similar deal with Magnum Operating, acquiring wells on thousands of acres situated on the Permian Basin and Eagle Ford Shale formation in Texas. Billy Don Johnson, Black Jack's CEO, provided insight into the transactions by stating, "The first deal was based on confidence in Mr. Vellardita's vision and strategy. After he delivered on his promises and produced results, the second deal was based on his character and integrity."
The newly added properties, scattered throughout more than 2000 acres in Texas, includes several wells producing 5 - 10 bbls/day, one delivering 50 - 60 bbls/day, and two that have reached production levels of 100 bbls/day. "Before this acquisition, the active wells in our portfolio were projected to generate a six figure monthly revenue. These new leases have the potential to help us achieve monthly revenue in the millions by 2015," stated Vince Vellardita, Paradigm Oil and Gas
You guys are pipe-dreaming. Too much weed stock hangover. VV will take all your money and then some...massive dilution ahead..try calculating what VV's preferred stock translates into common...you won't believe it. They can barely get two wells active producing 1-2 bbls a day. Costs more to pump it and transport it than to sell it so it sits in the tanks.
Takes 9.99% stake per filing...Yahoo won't let me paste link
Implies 220,000,000 outstanding common shares.
VV has pulled this stunt before where he gets a fund to invest but doesn't have all the board members approval. Not saying this is the case here but leopard normally doesn't change his spots. Will be interest to see where $750K investment goes to.
Typical VV PR...list the total available size of the oilfield and imply that is what their well can possibly produce. The only numbers they have ever claimed on any well is 100 bbls a month so you do the math on that. Again typical OTC BB pinkie press release. Blind 'em with a large number to hide the fact that their capabilities are so small that no one even knows they exist.
It's possible that VV will produce more PR's than barrels of oil.
You'll never see a 10-Q or a 10-K IMO because it's VV.
Notice how anyone they "hire" has a skeleton in the closet that VV conveniently says he didn't know about. Forces VV to have to contract with another lawyer who will likely get paid in shares.
If somebody went out to those wells I'm confident that there is a different story to what Paradigm has disclosed IMO.
Shareholder call will be a love fest with VV hyping how great business is while he looks at the ocean from his beachfront condo. Some people never learn.
Doubt it as Stewart was also hired on Sept 8. 2014 to be CFO of Spiral Toys. Another entertainment guy in the oil and gas business. The guy is consultant at best and doubt if he would be inclined to dig thru moving boxes to come up with financial statements. This is just a company that will continue to issue only 8-K's . Highly unlikely you will ever see a 10-Q or 10-K. Typical VV move.
From a Marketwired press release dated September 8, 2014:
In addition, RoCap Marketing/Spiral Toys has appointed Robert Stewart, former CFO at NewSight Inc. and Yada Yada, as their Chief Financial Officer. Mr. Stewart has extensive IPO experience in the entertainment sector and was the audit manager at Price Waterhouse.
"I worked with Mr. Stewart for a number of years while I was at Disney and know him to be sharp, intuitive and reliable executive who knows how to navigate the rough seas of a tech start-up," says Mr. Meyers.
Spiral Toys, a RoCap company, has developed an integrated hardware/software/cloud solution that enables mobile-connected entertainment as part of their user experience. Spiral already has completed product development and has products in the marketplace, as well as an ongoing co-development agreement with a major entertainment studio.
With today's news that the company has now decided to pass on purchasing the property saying "it's not in the best interests of the company", one has to wonder about the Sept. 10th press release where it plainly states the bought, it was worth $500K, they paid 470K and how great the property was. Maybe he was just told by the appraiser that the property was worth only $300K.
Vince is tossing out press releases left and right, just as he did at his other companies, that announce some great accomplishment then retracts or contradicts at a later point in time. Strange (not really) how financial reports or filings can never seem to be completed.
Run people run unless you like playing pinkies with no real news.
They spent 470K on a building that was listed anywhere between $295K - $395K during the past few months. Not too smart. Guess the preferred stock component forced them to overpay. Run from Vince as fast as you can. What does a guy who spent his entire life in the entertainment business know about oil & gas business?
Coffee futures have gotten pounded over the last few days on this news....The roasters say they are able to buy significant amounts of Coffee from Peru and Colombia right now, and this talk has been around the market but not confirmed. However, reports from Colombia have noted the very strong production this year, so increased selling is likely.
While it won't make up for the Brazilian shortfall it's at least providing a cushion to the shortage.
And that eventually affects JVA since it's a hedging operation.