Platina Energy,der neue Explorer-Stern?!
Platina Energy Group, Inc. (PLTG) SqueezeTrigger Price is $0.15. Approximately 14.2 million Shares Shorted Since December 2006 According to Buyins.net Research Report
Filed under: In English, In German / Deutsch — platinagroup.com @ 9:30 am
DALLAS, TX–(MARKET WIRE)–Nov 12, 2008 — Platina Energy Group, Inc. (OTC BB: PLTG.OB - News) (Frankfurt: O5Y.F - News) announced today that BUYINS.NET, www.buyins.net, is initiating coverage of Platina Energy Group after releasing the latest short sale data to November 2008. From December 2006 to November 2008 approximately 183.9 million total aggregate shares of PLTG have traded for a total dollar value of nearly $26.8 million. The total aggregate number of shares shorted in this time period is approximately 14.2 million shares. The first of several short squeezes is expected to begin when shares of PLTG close above $0.03, where approximately 139,000 shares have been shorted. According to data provided by the SEC through June 30, 2008, there have been as many as 405,033 shares failing to deliver (also referred to as, naked short) on one trading day. Click here to see a chart of failures to deliver from January 2004 through June 2008: http://www.buyins.com/ftd/PLTG.gif . To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
Month Total Vol. Short Vol. Avg. Price Short $ Value
December ‘06 214,350 16,505 $0.09 $1,560
January ‘07 160,459 12,355 $0.10 $1,282
February 453,492 34,919 $0.12 $4,323
March 235,717 18,150 $0.13 $2,269
April 2,558,579 197,011 $0.19 $38,102
May 1,930,400 148,641 $0.24 $35,302
June 4,061,209 312,713 $0.33 $103,977
July 5,721,174 440,530 $0.45 $196,609
August 13,369,997 1,029,490 $0.31 $316,568
September 3,776,283 290,774 $0.21 $61,411
October 8,294,501 638,677 $0.24 $155,326
November 5,513,662 424,552 $0.25 $104,015
December 7,507,588 578,084 $0.19 $110,703
January ‘08 3,589,596 276,399 $0.18 $50,305
February 3,720,983 286,516 $0.16 $46,559
March 9,858,220 759,083 $0.12 $87,295
April 7,206,027 554,864 $0.11 $59,537
May 5,308,583 408,761 $0.10 $39,772
June 24,998,132 1,924,856 $0.12 $230,020
July 16,388,959 1,261,950 $0.13 $160,646
August 9,729,382 749,162 $0.09 $70,271
September 17,165,040 1,321,708 $0.07 $90,273
October 30,374,108 2,338,806 $0.04 $91,213
November 1,810,790 139,431 $0.03 $3,974
Total: 183,947,231 14,163,937 $0.15 $2,061,313
*short volume is approximated using a proprietary algorithm.
**average short price is calculated using a volume weighted average short price.
***short volume is the total short trade volume and does not account for covers.
Market Maker Friction Factor is shown in the chart below:
Date
Change§
%§
BuyVol§
§
Buy %
SellVol§
§
Sell %
NetVol§
Friction
§
Analysis of the Friction Factor chart above shows that in 4 sample trading days preceding this report, market makers have made a normal market in 2 of the 4 days. The Friction Factor displays how many more shares of buying than selling are required to move PLTG higher by one cent or how many more shares of selling than buying moves PLTG lower by 1 cent. On November 6th and 10th, more buying than selling resulted in the stock price actually dropping. Market makers are now required to be on the bid as much as they are on the offer and for like amounts of stock. We will continue our market surveillance on shares of PLTG and report abnormal market making accordingly.
The chart below shows the broker dealers acting as market makers in shares of PLTG.
Rank
§
Market Maker
Volume§
§
% of
About Platina Energy Group, Inc.
Platina Energy Group, Inc. is a nimble E&P Company. Since organization in 2005, it has acquired proven producing and proven non-producing reserves in addition to possible/probable reserves. It also owns rights to German Inspired extraction technologies. Although there are always considerations relative to sustainability of production development and profitability, engineering reports suggest strong hydrocarbon reserves.
MfG
Mike Neuling
Platina Energy Group Inc. (the "Company") is an early stage, independent oil and gas exploration and production company headquartered in Dallas, Texas. The Company is engaged primarily in the exploration and development of oil and gas properties, currently in the States of Texas, Oklahoma, Tennessee, Kentucky and Wyoming. The Company will continue to engage in a broad range of activities associated with the oil and gas business in an effort to develop oil and gas reserves, and to produce crude oil and natural gas as its principal products. The Company anticipates its activities will continue to include acquiring interests in oil or gas properties located in established fields; managing and participating in developmental drilling operations; acquiring interests in producing oil or gas properties; acquiring and participating in tertiary recovery technologies on existing wells using thermal dynamic pulse units ("TPU's"), which involve a proprietary, enhanced oil recovery technology; and licensing technologies that enhance oil and gas recovery. The Company has evolved from primarily focusing on the TPU technology in 2005 to emphasizing the development of the Company's leased properties since 2007. As a result of shareholder encouragement coupled with increased commodity prices, beginning near the end of fiscal 2007 until the present, the Company has focused more heavily on lease acreage acquisitions, the drilling of new wells and tertiary recovery procedures on existing wells, while also continuing to develop the TPU technology and another technology that the Company has acquired.
The Company was incorporated under Delaware law on January 19, 1988 as "Windom." After incorporation, the Company went through several unrelated transactions involving other businesses that have subsequently been divested. A further subsequent restructure of the Company on June 25, 2005 resulted in the name change to "Platina Energy Group Inc." with a new business focus on the oil and gas sector.
The corporate address is 14850 Montfort Dr. Suite 131, Dallas, Texas 75254-6750. The main telephone number is (972)-458-9601. The Company website address is www.PlatinaEnergyGroup.com.
There can be no assurance that we will be successful in our exploration, development, and production activities. The oil and gas business involves numerous risks, the principal ones of which are described in the section captioned "Risk Factors" in our Annual Report on Form 10-KSB for the year ended March 31, 2008.
Listed below are key Company events that occurred in the second quarter of 2009, which should be considered together with default in our credit facility discussed briefly immediately after the following and more extensively elsewhere herein:
* After taking delivery of a compressor that can handle up to 3,000 MCF per day, the Company got online during the last half of July two wells drilled in June on its Laurel County, Kentucky acreage. These wells were free flowing out of open bore holes, and one was lifting seven barrels of oil per day with the gas. After approximately 30 days, the wells' production fell to next-to-nothing, and the wells are now requiring an acid frac completion. Because those wells were so successful initially, the Company drilled an additional 10 wells, stopping at a total of 12 wells on its Laurel County, Kentucky acreage. Due to a reduction of the related funding commitment, the Company was unable to complete eight of these 12 wells and to frac only two of them. The fracing of these two wells did not result in the production that the Company expected or wanted. As a result , the Company intends to refrac these wells on December 10, 2008, subject to the availability of funds therefore.
* The Company had five miles of gathering pipelines installed to the 12 new wells on its Laurel County, Kentucky acreage.
* The pipeline for the Hawkins County, Tennessee was repaired after the fire that damaged it. The compressor previously used on the Laurel County, Kentucky acreage was put into service very effectively on the smaller producing wells in Hawkins County, Tennessee.
* The Young County, Texas acreage had a large rework project that brought on seven of the old wells and three water injection wells that work in conjunction, and produced more than 200 barrels in the first 30 days of going online.
* The Seminole County, Oklahoma wells had a survey done by Excalibur Inc. The survey gives reason to believe that the wells may involve a substantial behind-the-pipe reserve. Subject to available funds, the Company intends to schedule a re-completion for the third quarter 2009, and the Company estimates that production will be 50 barrel per day
Notwithstanding the preceding, subsequent to the end of the Company's second quarter 2009, the Company received on October 15, 2008 a notice of default from Trafalgar Capital Specialized Fund, Luxembourg ("Trafalgar") for failure to make the Company's September and October 2008 payments due to Trafalgar. The Company has also not remitted to Trafalgar the Company's payment due for November 2008. The aggregate amount of these three payments is approximately $245,000_. The Company is currently in negotiations with Trafalgar and has made a good faith payment of $50,000. Our management is hopeful of an amicable outcome and is working toward that goal with management and consultants of Trafalgar, although there can be no assurance that such an outcome will occur. For more information about the Trafalgar loans and associated risks, see "ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - Liquidity and Capital Resources." For more information about the risk of these loans, see the risk factor captioned "The current lending transactions, which are secured by all of Platina's assets, feature limiting operating covenants and require substantial future payments, expose the Company to certain risks and may adversely affect the ability to operate the business" in ITEMS 1 and 2. DESCRIPTION OF BUSINESS AND PROPERTIES - RISK
FACTORS of our Annual Report on Form 10-KSB for the year ended March 31, 2008.
--------------------------------------------------
Table of Contents
The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and related notes included elsewhere in this Report. In addition to historical information, the discussion in this Report contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those anticipated by these forward-looking statements due to factors including, but not limited to, those factors set forth elsewhere in this Report and in the section captioned "RISK FACTORS" in our Annual Report on Form 10-KSB for the year ended March 30, 2008.
Results of Operations
For the Three Months Ended September 30, 2008 Compared to the Three Months Ended September 30, 2007
Revenues. The Company had $122,279 in income earned during the exploratory stage in the second quarter of fiscal 2009, while the Company had $2,826 in the second quarter of fiscal 2008.
Expenses. Operating expenses increased to $1,543,123 in the second quarter of fiscal 2009 from $609,054 in the second quarter of fiscal 2008.
General and administrative expenses were $1,487,666 and $608,778, respectively, for the three months ended September 30, 2008 and 2007. The major expenses incurred during each of the quarters were:
3 months ended
9/30/2008 9/30/2007
Consulting fess $ 1,102,544 $ 439,681
Payroll and related benefits and taxes 98,691 80,852
Professional fees 101,803 38,968
Amortization - licenses 56,191 12,411
Travel 38,140 6,947
Advertising 32,022 -
Public Relations 22,430 -
Liability insurance 14,228 2,563
Rent-office 9,838 1,360
Other expenses 11,779 25,996
$ 1,487,666 $ 608,778
Of the $1,102,544 incurred in consulting fees during the three months ended September 30, 2008, $71,000 was incurred through the issuance of 9,000 shares of the Company's Series D preferred stock, $150,000 was incurred through the issuance of 1,500,000 shares of the Company's common stock, and $796,851 was the amount of prepaid consulting fees expensed during the three-month period. Prepaid expense largely consists of the value of shares of common stock and warrants issued to various consultants that are being amortized into operations over the respective term of the various consulting agreements.
Of the $439,681 incurred in consulting fees during the three months ended September 30, 2007, $116,000 was incurred through the issuance of 453,511 shares of the Company's common stock, and $253,744 was the amount of prepaid consulting fees expensed during the three-month period.
Operating Loss. As a result of the above described revenues and expenses, we incurred an operating loss of $1,420,844 in the second quarter of fiscal 2009 as compared to an operating loss of $606,228 in the second quarter of fiscal 2008.
Other Income (Expense).
* Interest income. The Company had interest income in the second quarter of fiscal 2009 in the amount of 527, while the Company had no interest income in the second quarter of fiscal 2008
* Interest expense. Interest expense increased the second quarter of fiscal 2009 to $499,156 from $44,605 the second quarter of fiscal 2008 due to higher outstanding balances of indebtedness, the amortization of loan fees, and the amortization of the discounts on convertible debt incurred subsequent to the second quarter of fiscal 2008.
* Changes in fair value of derivative liability. In the second quarter of fiscal 2009, the Company had negative changes in fair value of derivative liability in the amount of $2,309,489. The negative change pertained to the convertible debt feature of our obligation to Trafalgar.
* Loss on settlement of debt. Loss on settlement of debt decreased in the second quarter of fiscal 2009 to $240,000 from $2,338,142 in the second quarter of fiscal 2008. These losses pertain to the Company's conversion of debt to equity through the modification of the original loan terms on several debt instruments.
--------------------------------------------------
Table of Contents
Net Loss. The Company incurred a net loss of $4,533,453, or $.04 per share, in the second quarter of fiscal 2009 as compared to a net loss of $2,988,975, or $0.07 per share, in the second quarter of fiscal 2008. The increase in the net loss is largely due to increased general and administrative expense (most was attributed to third party stock issuances), increased interest expense, and an decreased loss on settlement of debt, offset to a large extent by increased changes in the fair value of our derivative liability.
Six Months Ended September 30, 2008 Compared to the Six Months Ended September 30, 2007
Revenues. The Company had $171,459 in income earned during the exploratory stage during the six months ended September 30, 2008 as compared to $10,026 earned during the same six-month period of 2007. The major difference in revenue pertains to the revenue we received during the six-months of 2008 from sales of our oil and gas production.
Expenses. Operating expenses increased to $3,547,525 during the six-months ended September 30, 2008 as compared to $1,062,875 of operating expenses incurred for the six months ended September 30, 2007.
General and administrative expenses were $3,438,182 and $1,055,399, respectively, for the six months ended September 30, 2008 and 2007. The major expenses incurred during each of the six month period were:
6 months ended
9/30/2008 9/30/2007
Consulting fess $ 2,706,197 $ 831,585
Payroll and related benefits and taxes 210,899 97,000
Professional fees 163,007 52,485
Amortization - licenses 112,382 24,821
Travel 65,685 8,836
Advertising 48,205 -
Public Relations 33,402 -
Liability insurance 26,524 2,563
Rent-office 22,880 2,380
Other expenses 49,001 35,729
$ 3,438,182 $ 1,055,399
Of the $2,706,197 incurred in consulting fees during the six months ended September 30, 2008, $448,500 was incurred through the issuance of 48,000 shares of the Company's Series D preferred stock, $185,294 was incurred through the issuance of 1,852,942 shares of the Company's common stock, and $1,928,133 was the amount of prepaid consulting fees expensed during the six-month period.
Of the $831,585 incurred in consulting fees during the six months ended September 30, 2007, $298,000 was incurred through the issuance of 1,853,571 shares of the Company's common stock, and $523,642 was the amount of prepaid consulting fees expensed during the six-month period.
Operating Loss. As a result of the above described revenues and expenses, we incurred an operating loss of $3,376,066 during the first six months of fiscal 2009 as compared to an operating loss of $1,052,849 during the same six-month period of fiscal 2008.
Other Income (Expense).
* Interest income. The Company had interest income during the first six months of fiscal 2009 in the amount of 2,022, while the Company had no interest income in the same six month period of fiscal 2008.
* Interest expense. Interest expense increased during the first six months of fiscal 2009 to $1,084,306 from $65,995 in the same six month period of fiscal 2008 due to higher outstanding balances of indebtedness, the amortization of loan fees, and the amortization of the discounts.
* Changes in fair value of derivative liability. In the first six months of fiscal 2009, the Company incurred a positive change in its fair value of derivative liability in the amount of $161,181.
* Loss on settlement of debt. In the first six months of fiscal 2009, the Company incurred a loss on settlement of debt in the amount of $6,164,397 as compared to the loss in the first six months of fiscal 2008 in the amount of $5,568,309.
Net Loss. The Company incurred a net loss of $10,526,057, or $.10 per share, in the second quarter of fiscal 2009 as compared to a net loss of $6,687,153, or $0.18 per share, in the second quarter of fiscal 2008. The increase in the net loss is largely due to increased general and administrative expense (most was attributed to third party stock issuances), increased interest expense, and an decreased loss on settlement of debt, offset to a large extent by increased changes in the fair value of our derivative liability.
--------------------------------------------------
Table of Contents
Liquidity and Capital Resources
As of September 30, 2008, the Company had cash in the amount of $79,700, while we had cash in the amount of $27,336 as of September 30, 2007. As of September 30, 2008, the Company had other receivables from other sources totaling $14,900, and prepaid expenses in the amount of $623,058. Prepaid expense largely consists of the value of shares of common stock and warrants issued to various consultants that are being amortized into operations over the respective term of the various consulting agreements.
As of September 30, 2008, the Company had current assets totaling $717,658. Moreover, as of September 30, 2008, the Company had current liabilities totaling $4,627,075, which exceeded current assets by $3,909,417. This large working capital deficit raises a substantial doubt as to the Company's ability to continue as a going concern, and the Company's auditor added an emphasis paragraph to its report on the Company's consolidated financial statements for the year ended March 31, 2008 to such effect. Management initially believed that the Company would be able to resolve the excess of current liabilities over current assets through revenues from future oil and gas production. However, due to the sudden and dramatic decline in oil and gas prices in the third quarter of 2008 and the weeks thereafter, and the failure to complete and get certain wells on line in the third quarter of 2008 because of the unavailability of expected financing, management no longer believes that the Company will be able to solve the excess of current liabilities over current assets through revenues from future production under the present circumstances. Further, On October 15, 2008, the Company received a notice of default from Trafalgar Capital for failure to make its September and October payments on the obligations due Trafalgar of approximately $4,500,000. Management does not believe that the Company will be able to resolve this excess through an additional financing, given the current and foreseeable states of the oil and gas capital markets. As a result the Company is seeking a financial joint venture partner to acquire an interest in certain of the Company's properties and to fund further developmental work. The Company expects that the proceeds from any sale of an interest would enable the Company to retire most or all of the indebtedness that is currently causing current liabilities to substantially exceed current assets. However, there can be no assurance that the Company will be able to find a financial joint venture partner or that the sales proceeds from any sale of an interest will be sufficient for the preceding purpose. If the Company were not able to find a financial joint venture partner or obtain additional funds, the Company would probably be unable to continue its exploration and development activities. Under certain circumstances, the Company could be forced to cease its operations and liquidate its remaining assets, if any. The ability of the Company to continue to pursue its business plan throughout fiscal 2009 and beyond will depend on the Company's ability to continue to meet its cash requirements and ultimately to achieve profitability with respect to its business operations. There can be no assurance that the Company will sustain this ability or achieve this goal.
From the time that the business was changed to oil and gas exploration and development in the summer of 2005 until early January 2008, the business was financed through a series of private placements, loans from affiliates, and loans from unaffiliated, commercial lenders, none of which were very large in size.
On January 10, 2008, the Company completed a $1,500,000 financing pursuant to a Securities Purchase Agreement dated effective December 31, 2007 with Trafalgar Capital Specialized Fund, Luxembourg ("Trafalgar") for Trafalgar to loan $1,500,000 the Company (the "First Loan") pursuant to a secured Promissory Note (the "First Note") dated December 31, 2007 with an annual interest rate of 10% due in monthly payments of interest only for the first two months and then commencing three (3) months from the date of the First Note, principal and interest amortized over the remaining twenty-five months of the First Loan and a monthly redemption premium of 15% of the payment is payable in monthly installments with all principal and accrued but unpaid interest due on or before March 30, 2010. In the event of a material default which includes non-payment of principal or interest when due, 24,000,000 treasury and third party non-affiliate shares were pledged as additional collateral for the First Loan. The First Note is further secured by all of the Company's assets. The funds from the First Loan were used to drill and complete five wells on the Tennessee prospect and to pay specific corporate overhead. Furthermore, the Company has the right, so long as the First Note is not in default, at any time to retire the debt facility for the then interest and principle amount plus a 15% redemption fee. As additional consideration for the debt facility, Trafalgar has the right to accept monthly repayment of principle and interest (approximately $70,000 per month) in the form of common shares only if the common stock price is trading above $.40 per share. Trafalgar would then have the right to receive such monthly payment(s) at a fixed conversion price of $.17 per share subject to certain potential adjustments.
On May 22, 2008, a $2,300,000 financing was completed pursuant to a Securities Purchase Agreement dated effective May 21, 2008 with Trafalgar for Trafalgar to loan $2,300,000 (the "Second Loan) pursuant to a secured Convertible Promissory Note (the "Second Note") dated May 21, 2008 with interest at 10% due in monthly payments of interest only commencing one (1) month from the date of the Second Note, with all principal and accrued but unpaid interest due on or before August 21, 2011. Only when the Company's Common Stock is trading at $0.30 or above, Trafalgar may convert all or any part of the principal plus accrued interest into shares of our Common Stock at the fixed price of $0.081 per share, subject to various adjustments. The material default provisions include non-payment of principal or interest when due. As part of this transaction, 2,300,000 restricted shares of our Common Stock were issued to Trafalgar and pledged 57,500 shares of Series E Preferred Stock to Trafalgar to secure the Second Note. The Second Note is further secured by all of the Company's assets. The funds from the Second Loan were used in conjunction with the drilling of the Company's Kentucky wells.
On August 18, 2008, a $1,200,000 financing was completed pursuant to a Securities Purchase Agreement with Trafalgar for Trafalgar to loan $1,200,000 (the "Third Loan) pursuant to a secured Convertible Promissory Note (the "Third Note") with interest at 10% due in monthly payments of interest only commencing two (2) months from the date of the Third Note, with all principal and accrued but unpaid interest due on or before August 18, 2010. Only when the Company's Common Stock is trading at $0.40 or above, Trafalgar may convert all or any part of the principal plus accrued interest into shares of our Common Stock at the fixed price of $0.102 per share, subject to various adjustments. The material default provisions include non-payment of principal or interest when due. As part of this transaction, 4,700,000 restricted shares of our Common Stock were issued to Trafalgar and pledged 27,500 shares of Series E Preferred Stock to Trafalgar to secure the Third Note. The Third Note is further secured by all of the Company's assets. The funds from the Third Loan were used in conjunction with the completion of the Company's Kentucky wells.
As indicated above, the Company is currently in default under the above loan agreements with Trafalgar. The Company is currently in negotiations with Trafalgar and has made a good faith payment of $50,000. Our management is hopeful of an amicable outcome and is working toward that goal with management and consultants of Trafalgar.
Although the Company had leased enough land to move forward with its current plan of operation, it needed to obtain additional financing before this plan could be partially implemented. The Company was able to commence the implementation of its current plan of operation in 2008 through the funding obtained from Trafalgar. However, the sudden and dramatic negative developments that took place in the third quarter of 2008 and the following weeks with respect to the stock market, the price of oil and gas, and the capital markets providing financing to oil and gas exploration and production companies have brought the Company's plan of operation to a virtual standstill due to Trafalgar's decision to reduce its funding to the Company and the perceived unavailability of alternative financing. The reduction in funding prevented the Company from completing a portion of the Company's Kentucky wells, which resulted in less than anticipated production. Coupled with the recent dramatic decline in oil and gas prices, the Company's revenues from production have been far less than the Company anticipated. In addition, management does not believe that the Company will be able to procure alternative financing, given the current and foreseeable states of the oil and gas capital markets. In view of the preceding and as previously discussed, the Company is seeking a financial joint venture partner to acquire an interest in certain of the Company's properties and to fund further developmental work. There can be no assurance that the Company will be able to find such a partner. If it cannot find such a partner, the Company expects that it will be unable to continue with its current plan of operation, and it could be forced to cease its operations and liquidate its remaining assets, if any.
In addition to the capital necessary to undertake planned drilling and completion activities, additional funds will be needed in order to make scheduled debt payments on the indebtedness owed to Trafalgar. Even if the Company cures its default with Trafalgar, payments in the amount of $1.5 million (plus accrued interest) are due to Trafalgar on or before March 30, 2010, another payment in the amount of $1.2 million (plus accrued interest) is due to Trafalgar on or before August 18, 2010, and another payment in the amount of $2.3 million (plus accrued interest) is due to Trafalgar on or before August 21, 2011. Management initially believed that proceeds generated by the wells successfully drilled in Kentucky would enable the obligations to Trafalgar to be met. However, a reduction in funding and the recent dramatic decline in oil and gas prices now lead management to believe that this is not possible under the present circumstances. In view of the preceding and as previously discussed, the Company is seeking a financial joint venture partner to acquire an interest in certain of the Company's properties and to fund further developmental work. There can be no assurance that the Company will be able to find such a partner. If it cannot find such a partner, the Company may not be able to make the debt payments to Trafalgar. The failure to make these payments could result in the loss of a significant portion of the Company's assets and could cause Trafalgar to exercise other creditor rights, which could result in the loss of all or nearly all of the value of the Company's outstanding equity and bring operations to an end. For further information in this regard, see the risk factor captioned "The current lending transactions, which are secured by all of Platina's assets, feature limiting operating covenants and require substantial future payments, expose the Company to certain risks and may adversely affect the ability to operate the business" in ITEMS 1 and 2. DESCRIPTION OF BUSINESS AND PROPERTIES - RISK FACTORS of our Annual Report on Form 10-KSB for the year ended March 31, 2008.
Production from exploration and drilling efforts (in sufficient quantities and at times during which favorable market prices prevail) will provide the Company with a positive cash flow, and the increases in proven reserves should increase the value of the Company's properties and should enable the Company to obtain bank financing (after the wells have produced for a period of time to satisfy the related lender). However, there can be no assurance that production in such quantities at time when favorable market prices prevail will occur.
To conserve on capital requirements, the Company may in the future issue shares . . .
So etwas nennt man dann wohl unfähiges Managment. Kein Geld in der Kasse, keine Schulden und Zinsen mehr zahlen können, aber noch riesige Geldbeträge für Reisen, Werbung und Public Relations ausgeben. Einfach unfassbar wie hier mit dem Geld der Aktionäre umgegangen wird und wurde!
Ich muß mich leider nochmal (nach unten) korrigieren. Kursziel nach diesem Filing 0 Cent!!!
Was denkst Du, Greenwave oder Miramar07 :-)
Interessant ist fuer mich auch die Situation von Trafalgar. Werde mich da weiter informieren und mich melden.
Mein Motto ist: Greife nie in ein fallendes Messer.
PLTG hat sich übernommen, man konnte nicht mal annähernd deklarierte Ziele erreichen. Inwieweit nun wirklich der fallende Ölpreis daran schuld ist, dass wissen wir nicht genau. Man kann den Aussagen des Managments nun überhaupt kein Vertrauen mehr beimessen.
Ich rechne hier mittlerweile mit einem Totalverlust. Von kleinen Zockereien mal ganz abgesehen. Das Spiel ist AUS. PLTG hat sich offenbart! Schade für die Aktionäre, die hier noch verschiedenen Aussagen in diesem Thread Glauben schenkten!
In welcher Lage ist Trafalgar ? Haben die auch grosse Mitteabzuege Ihrer Anlager ? In was wollen und koennen die ueberhaupt noch investieren ? Ist nicht durch diesen extremen Preisverfall der Oel-und Gaspreise im Grunde jegliche Investitionsneigung elimeniert worden ? Dieser Preis wird zu Produktionskuerzungen fuehren-dies wird mittelfristig zu weit hoeheren Preisen fuehern als wir sie bisher gesehen haben. Also- lohnt sich ein Investment in dieser Branche vielleicht langfristig doch. Schauen wir und die Metallminen an. Eine nach der anderen muss Aufgeben und verhungert ohne neue Finanzierung. Die Ueberlebenden werden danach noch staerker . Die wird auch so bei den Brennstoffen sein. Kann Platina dazu gehoeren ? Haengt das nur an der Finanzierung oder kann die Firma dieses Geschaeftsmodell nicht zum Erfolg fuehren ?
Die Kosten kennen wir. Wieviele Kubicmeter Gas muessen sie verkaufen um diese zu decken. Decken kann ja aber nicht das Ziel sein.
Wie schon erwaehnt; mit einem kleinen Hebelschein verliert man in 20 Minuten manchmal mehr. Insofern beantwortn wir die Fragen (und noch mehr) !!!! Vamos !!
http://biz.yahoo.com/iw/081120/0454387.html
Optionen
| Boardmail an "nekro" |
Wertpapier: Platina Energy Group |
Und ein Investment wegen der begrenzten Rohstoffkapazitäten und des öls zu begründen, das scheint mir in der momentanen Situationen eher abenteuerlich.
Selbst wenn Trafalgar noch einmal Geld hineinpumpt, was ich als nicht sinnvoll erachte, so wird Trafalgar die Bedingungen bestimmen und am Ende wird nicht viel für PLTG übrig bleiben. Zumindest nicht was eine solche Bewertung an der Börse angeht und rechtfertigt. Deshalb ist die Aktie von Platina Energy für mich tot! Außer Zockereien wird es hier wohl nichts mehr geben!
Wie oft will PLTG die Gehirnwäsche bei ahnungslosen Anlegern eigentlich noch ausprobieren?? Unfassbar!!
Die Aktie ist TOT und nach dem neuesten Filing hat PLTG jegliches Vertrauen an der Börse verspielt!
Hoffentlich beschäftigt sich die Börsenaufsicht mal mit dieser Firma, denn hier wurden ganz klar kursrelevante Informationen bewußt zurückgehalten.
Wo sind die Boardpusher hin? Mitlesen tun sie ganz bestimmt, aber sie trauen sich wohl nicht mehr. Kein Wunder, Argumente sind ausgegangen und das schlechte Gewissen plagt sie :-)
Jetzt will ich wissen, war das alles nur eine Verar..... ? Wer hat davon profitiert ? Merriam hat ja m. W. auch ordentlich Kohle in den Sand gesetzt .
Fuer mich sind diese Ueberlegungen jetzt wichtig um in der Zukunft noch bessere Entscheidungen treffen zu koennen. In diesem Segment, was ja immer nur ein Bruchteil des Depots ausmachen sollte, sind die Zweifel natuerlich angebracht. Leider werden di Anlege inzwischen auch bei den Bluechips belogen.
M.E.ist ein vorsaetzlicher Betrug nicht wirklich lohnenswert gewesen. Die grosse Aktienzahl kam ja erst zu sehr tiefen Kursen.
Wie Du erwaehnt hast, die Jungs haben sich einfach uebernommen und dann die Kontrolle verloren. In der Panik kam es dann zu den Ungereimtheiten. Die Versprechen waren zu gross.
Ob es eine Verarschung war oder nicht, dass vermag ich nicht zu beurteilen. Viele Ungereimtheiten waren jedoch schon vor diesem Filing sehr offensichtlich. Deshalb überrascht mich die Kursentwicklung der letzten Monat ganz und gar nicht. Abschließend bleibt hier jedenfalls festzuhalten, dass PLTG von einem unfähigen Managment geführt wird, was jegliches Vertrauen verloren haben dürfte. Ein Comeback ist für mich nicht vorstellbar.
Greenwave, wie ist Deine Meinung? Du warst doch sonst immer so euphorisch! Nicht nur mitlesen, auch mal antworten! :-)
Also, tschüss.
Ich habe zu 0.005 nochmals gekauft. Wie schon gesagt, ein kleiner Hebelschein kann schlimmer ausgehen. Natuerlich ist alles schlecht- Eigentuemer verlieren nicht gerne Geld und wenn sie wissen was los ist steigen sie aus. Laienhaftes Verhalten-zugegeben. Aber auch die Superprofis versagen. Ich sage; es geht weiter. Warum; was will Trafalgar sonst machen. Durch diese enorme Liquiditaetswelle wird der Fonds gezwungen sein. Geld gibt es jetzt wieder genug. Was es fuer einen Wert hat ist ein andere Frage.
Wohin fliesst das Geld in einer kommenden Hyperinflation ? ROHSTOFFE !!!
Optionen
| Boardmail an "Shotman" |
Wertpapier: Platina Energy Group |
Wie kommst Du auf Schadenfreude oder Haehme? Meine Sätze und Kommentare sind nun mal der IST-Zustand.
Und was macht Dich der Annahme so sicher, dass Geld genug da ist, um weiter Geld bei PLTG zu verschwenden? Das Managment von PLTG hat doch jetzt oft & lange genug bewiesen, dass es nicht in der Lage ist mit Geld wirtschaftlich/ rentabel/renditeorientiert umzugehen und hat auf ganzer Linie versagt. Vielleicht ist der Gedanke, dass Trafalgar nochmal Geld investiert, ein Wunschgedanke von euch. Diese Hoffnung als Investmententscheidung heranzuziehen, dass ha ganz und gar nichts mit investieren zu tun. Das ist blosse Zockerei.
@ Shotman
Anstatt das Niveau hier im Thread zu bemängeln, solltest Du lieber mal das Niveau von PLTG und deren Machenschaften überprüfen und bemängeln. Dort scheint es mir angebrachter.
beim PLTG Management gibt es nicht viel zu überprüfen, dass die sich verzockt haben, ist einfach Tatsache - da auch ich zu den Optimisten zählte, die von einer Kurssteigerung überzeugt waren, musste ich dafür viel Lehrgeld zahlen - das ist die Börse und ich stehe dazu. Allerdings war / musste / sollte jedem klar gewesen und noch immer sein, dass ein Investment in derartige Firmen immer mit einen Totalverlust enden kann (no risk no fun) - und wer auf dem derzeitigen Niveau zockt, kann Glück haben oder sein Geld hat ein andere ;-) einer gewinnt und einer verliert ... Allen eine schöne Woche 
Optionen
| Boardmail an "Shotman" |
Wertpapier: Platina Energy Group |
Optionen
| Boardmail an "Heron" |
Wertpapier: Platina Energy Group |
Platina ist pleite. Chapter 11.
Habe mich mit meinen letzten Einschaetzungen getaeuscht.
Garant hat Recht bekommen. Viel Glueck bei neuen Investitionen.
Passt auf Euch auf. Unabhaengig von Platina kommen gewaltige Umwaelzungen auf uns zu.
Was meinst du mit "gewaltige Umwälzungen"?
Platina Energy Group Announces Reorganization
Filed under: In English — platinagroup.com @ 12:00 pm
Corpus Christi, Texas - December 3, 2008 - 12 PM EST
Platina Energy Group, Inc. (Symbol OTCBB: PLTG) (Symbol Frankfurt: O5Y.F) announces filing for reorganization. The Company believes this course of action, under the auspices of Chapter 11, will provide for the creation of a comprehensive creditor plan.
The Company plans to work with its creditors under acceptable terms to serve the highest and best purposes for all involved. Stock market deterioration along with a sharp drop in commodity pricing has created the need for such a strategic plan.
According to Blair Merriam, President of Platina, “I am convinced that we have considerable reserve assets and that a decisive plan will allow for the profitable recovery of underlying hydrocarbons in our key fields.”
The Company produces hydrocarbons on several fields, but not in sufficient quantities to service its obligations. Management anticipates emerging from Chapter 11 promptly.
About Platina Energy Group
Platina Energy is a nimble E&P Company. Since organization in 2005, it has acquired proven producing and proven non-producing reserves in addition to possible/probable reserves. It also owns rights to German Inspired extraction technologies. Although there are always considerations relative to sustainability of production development and profitability, engineering reports suggest strong hydrocarbon reserves.
Contact Information:
Platina Energy Group
Blair Merriam
Das Managment von PLTG war zu keinem Zeitpunkt in der Lage etwas anständiges auf die Beine zu bringen. Auch bin ich der Meinung, dass bestimmte (kursrelevante) Nachrichten bewußt vom Managment zurückgehalten wurden und die Öffentlichkeit nicht immer zu 100% über das wahre Geschehen informiert wurde. Ein solches Managment hat keine Chance mehr verdient!
Dafuer mein Kompliment fuer dieses "ritterliche " Verhalten.
Garant hat sicher die richtigen Worte gefunden. Es wurden Infos verheimlicht.
Leider hat dies nix mehr mit den Pennystocks zu tun. Das ist inzwischen Sitte geworden.
Greenwave1; die gewaltigen Umnwaelzungen sind in Anmarsch. Nehmt Euch mal die Zeit und vergleicht die Situation , Ende 2008 mit der grossen Depression vor dem Kriege. Vergleicht den Run in die Staatsanleihen, den Aktiencrash und die schleichenden, jedoch wahrnehmbare schaerfe der Gesetzenaenderungen der Regierungen. Was passiert wenn die Staatsanleihen taumeld; was ist mit den Waehrungen ? Die Verzweiflung der Notenbanken und den Stellenwert der Edelmetalle. Schaut Euch die Geschehnisse an der Comex an, lest die Infos von Ted Butler, seine Beweise usw.http://www.investmentrarities.com/tb-archives.html
Das ist keine Panikmache, sondern eine Aufforderung ueber die normalen Medien hinweg zusehen.http://www.goldseiten.de/content/diverses/artikel.php?storyid=9121
Das ist hier ausser der Reihe von Platina, wird aber fuer Euch noch wichtiger werden.
Ich bin in einem Land, in dem grosses Staedte , tagelang ohne Strom,ohne Kuehlschraenke, ohne Recht und Ordnung waren. Ich habe eine Kopflampe!!!
Spuehlen und kochen mit der Taschenlampe im Mund kann sehr muehsam sein.
Also, sucht und informiert Euch und bildet Euch Eure eigene Meinung.
Vielleicht kommt es ja zu einer Verwertung des Mantels und zum einem begrenzten Wiederanstieg des Kurses. In Deutschland wäre das 'ne reelle Chance, wo ja Firmenmäntel m. W. schon zwischen 3 und 6 €-Cent gehandelt wurden. - Wie sieht das im Ausland und speziell bei PLTG aus? - Wer kennt sich aus?