Posted On: 11/23/2015 2:31:50 PM
Post# of 39368
The new CEO's appointment was PR'D on 8/4/2014 and that provided some hope at the time. The last formally announced 10Q filing for 3rd quarter 2013 was PR'D on 1/22/2014 or 6.5 months prior to the new CEO appointment. It was well known by all shareholders and management the 2013 3rd Q was filed 3+ months late and the 2013 10K was already approx. 5 months late upon the new CEO's appointment.
Why would a new CEO coming in on 8/4/2014 not question TECO'S inability to file on time? I don't understand this implied surprise of "I didn't know this or I didn't know that" or "I didn't know what I was getting myself into"? Wouldn't someone taking over as CEO know or want to know the amount of funding, time and energy it would take to straighten out this mess prior to taking it on? Why wouldn't DD be performed on the old BOD prior to accepting the appointment? What were the incentives at that time? I think the old BOD promised funds and never delivered them so where did those designated funds go?
Why 16 months later and still no 2013 10K or it is completed? Why no answers from the SEC as to where the old BOD allocated all the dilutive funding? Just the lack of a 2013 10K back in August 2014 should have initiated internal investigations and/or DD on the prior BOD but it took the SEC to intervene. Some might say it was the Ihub crew that caused much of this but TECO has provided numerous mistakes for them to work with. Once filings are completed then it will be interesting to see where all the money went.
08/04/2014 6:45AM PR Newswire (US) Treaty Energy Corporation Announces Management Team and Board of Directors Changes
01/22/2014 1:50PM PR Newswire (US) Treaty Energy Corporation Reports Results for Third Quarter of 2013
Why would a new CEO coming in on 8/4/2014 not question TECO'S inability to file on time? I don't understand this implied surprise of "I didn't know this or I didn't know that" or "I didn't know what I was getting myself into"? Wouldn't someone taking over as CEO know or want to know the amount of funding, time and energy it would take to straighten out this mess prior to taking it on? Why wouldn't DD be performed on the old BOD prior to accepting the appointment? What were the incentives at that time? I think the old BOD promised funds and never delivered them so where did those designated funds go?
Why 16 months later and still no 2013 10K or it is completed? Why no answers from the SEC as to where the old BOD allocated all the dilutive funding? Just the lack of a 2013 10K back in August 2014 should have initiated internal investigations and/or DD on the prior BOD but it took the SEC to intervene. Some might say it was the Ihub crew that caused much of this but TECO has provided numerous mistakes for them to work with. Once filings are completed then it will be interesting to see where all the money went.
08/04/2014 6:45AM PR Newswire (US) Treaty Energy Corporation Announces Management Team and Board of Directors Changes
01/22/2014 1:50PM PR Newswire (US) Treaty Energy Corporation Reports Results for Third Quarter of 2013
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