Just to be clear on something: "The 10-Q for th
Post# of 39368
Posted On: 11/01/2013 6:14:10 PM
Just to be clear on something:
"The 10-Q for the second quarter of 2013 is slated for release sometime this week. A definitive release date is still uncertain as changes are still on-going and the document must pass final partner review. At the time of this newsletter’s release, the final draft of the document is still being adjusted after passing through a second partner review."
The timeline dates that we receive at the IR department come from the team that is handling our financials. However as the second sentence says, until the auditor's final partners approve the document, the document cannot be released. Unfortunately, the two parties work independently, which is why its hard to pin point an exact time and sometimes after a review, multiple changes are made and unfortunately the document may be held beyond the expected date. This is unfortunate, but it occurs. Not only that, but we are very limited in how we can communicate audit information due to SEC regulations and the sensitive nature of the process.
Every attempt is being made to push both the Q2 and Q3 out as quickly as possible and our IR team attempts to communicate the information we are given.
Shareholders have demanded for several months (if not years) for more communication and greater project transparency. Our IR department has provided weekly communication updates on all projects. We have acknowledged both delays and successes to projects in the belief that greater transparency will provide investors greater insight into Company operations. As a result we have detailed as much information regarding our operations on a daily/weekly basis through many different channels.
Nevertheless, it is always up to the individual shareholder to make an investment decision based on the information that the company gives. We provide clear and transparent information on our Company's operations and daily activities as much as we can without releasing information that may be considered illegal.
The Company's operations have improved on multiple fronts. We are currently drilling and completing two wells and have promised 3 more by the end of the year (5 total new drills beyond Mitchell 3 and 4). This sort of activity shows a dramatic turn around in Company operations. In February, we personally made a promise to show realistic projections and increase transparency. We certainly hope that you can see progress on that front and will continue to see progress as the Company develops its oil drilling programs.
We are still developing our investor relations department, but we believe that for an OTCBB stock, our communication strategy is above and beyond the norm on the stock exchange in relaying critical information towards operations.
I, Sean, personally apologize to you however, if you believe that this communication is insufficient and will strive to improve it as much as I can!
"The 10-Q for the second quarter of 2013 is slated for release sometime this week. A definitive release date is still uncertain as changes are still on-going and the document must pass final partner review. At the time of this newsletter’s release, the final draft of the document is still being adjusted after passing through a second partner review."
The timeline dates that we receive at the IR department come from the team that is handling our financials. However as the second sentence says, until the auditor's final partners approve the document, the document cannot be released. Unfortunately, the two parties work independently, which is why its hard to pin point an exact time and sometimes after a review, multiple changes are made and unfortunately the document may be held beyond the expected date. This is unfortunate, but it occurs. Not only that, but we are very limited in how we can communicate audit information due to SEC regulations and the sensitive nature of the process.
Every attempt is being made to push both the Q2 and Q3 out as quickly as possible and our IR team attempts to communicate the information we are given.
Shareholders have demanded for several months (if not years) for more communication and greater project transparency. Our IR department has provided weekly communication updates on all projects. We have acknowledged both delays and successes to projects in the belief that greater transparency will provide investors greater insight into Company operations. As a result we have detailed as much information regarding our operations on a daily/weekly basis through many different channels.
Nevertheless, it is always up to the individual shareholder to make an investment decision based on the information that the company gives. We provide clear and transparent information on our Company's operations and daily activities as much as we can without releasing information that may be considered illegal.
The Company's operations have improved on multiple fronts. We are currently drilling and completing two wells and have promised 3 more by the end of the year (5 total new drills beyond Mitchell 3 and 4). This sort of activity shows a dramatic turn around in Company operations. In February, we personally made a promise to show realistic projections and increase transparency. We certainly hope that you can see progress on that front and will continue to see progress as the Company develops its oil drilling programs.
We are still developing our investor relations department, but we believe that for an OTCBB stock, our communication strategy is above and beyond the norm on the stock exchange in relaying critical information towards operations.
I, Sean, personally apologize to you however, if you believe that this communication is insufficient and will strive to improve it as much as I can!
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