Posted On: 12/02/2014 7:11:13 PM
Post# of 39368
This is not possible under current circumstances where I tried my best to right.
The asset to be exchanged for the shares was never delivered in full....
There will be another evaluation as to the value of this said asset and the payment must be pro-rated. This is unaccepted behavior The blame lies in 2 places... andrew , no DD and Chris no public disclosure after the wells were not running.
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Officially Treaty paid Texas Sands $1.25 million for some assets which brought Chris Tedarski in as CEO.
The asset to be exchanged for the shares was never delivered in full....
Quote:
TSRs assets currently include ten (10) leases in the Texas 7B Oil District. These leases have a current, consistent and provable production of 25 BOPD (Barrels of Oil per Day) and currently hold 552 barrels of sellable oil in the tanks (est. $50,000). At current production levels, the Company anticipates that this acquisition will generate estimated revenues of $800,000 per year, with revenues expected to increase as the ten (10) leases are more fully developed. TSR also holds a number of additional lease opportunities that if completed, will be included in this purchase. The purchase price was $1,250,000.
There will be another evaluation as to the value of this said asset and the payment must be pro-rated. This is unaccepted behavior The blame lies in 2 places... andrew , no DD and Chris no public disclosure after the wells were not running.
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