I didn't realize until recently that Treaty is a s
Post# of 39368
Posted On: 01/16/2014 9:10:48 AM
I didn't realize until recently that Treaty is a scam.
Placencia people have had this opinion all along but I tried just to stick facts rather than give in to the temptation to form opinions based on hearsay and the opinions of others.
I am oilman and for 30 years I was judged and paid by the performance of myself and my company. I was compensated well over the years with cash and more recently with shares as I rose to executive status as a technical expert and became a senior advisor.
I have never understood why the same principals of pay for performance have never applied in Treaty. But I cut them a little slack as people key saying they were a star-up company.
So why do I now think Treaty is a scam? Well because of the following facts:
(1) The list of things that Treaty have promised to do but not done is now so long I can't keep track any more (If I have time I will go through and tabulate this. Has anyone else done this yet?)
(2) I have documented the facts and reported to the SEC 4 times that Treaty have lied to their shareholders.
(3) The CEO who has not added any value to the company or its shareholders has been paid over a $ 1 million over the last 4 years.
(4) The co-CEOs of Treaty have been convicted of fraud in the past and are currently being sued by former members of Treaty board of directors.
(5) Treaty business strategy has changed significantly twice in the last 4 years. Originally it was to invest in small US fields that other companies had given up on. In 2010, Treaty changed to investing in small US fields and exposing themselves to higher cost and more risk in international wildcat oil exploration in Belize. Then in late 2013 - after the sonewhat bewildering disposal of Mitchell 3 & 4 wells - they announced that adding oil production was no longer their strategy. I am totally confused. How about you?
(6) I have been slapped with 3 cease and desist legal threats by Treaty between 2011 and now. I am not concerned with these as they have always only attacked me when I have told the truth. I am very concerned that they use legal threats in this way to stifle the truth about what is actually going on with their operations in Belize.
Above are the facts.
I feel sorry for the shareholders of Treaty.
I hope that it does not take too long for Treaty to fail completely at a corporate level
- as they have done in Belize already. Or that they are prohibited from trading in shares by the regulatory authorities whose job is to protect the interests of the American public.
I now also realize that several of those on this board who have also posted about things that have not come to pass are guilty of misleading shareholders too.
Cheers
Belize Oilwatch
Belize City, Belize CA
I apologize for the lack of formatting if this post that makes it so much more difficult to read. A function of iHangout not carrying over the formatting if my draft into the final post.
Placencia people have had this opinion all along but I tried just to stick facts rather than give in to the temptation to form opinions based on hearsay and the opinions of others.
I am oilman and for 30 years I was judged and paid by the performance of myself and my company. I was compensated well over the years with cash and more recently with shares as I rose to executive status as a technical expert and became a senior advisor.
I have never understood why the same principals of pay for performance have never applied in Treaty. But I cut them a little slack as people key saying they were a star-up company.
So why do I now think Treaty is a scam? Well because of the following facts:
(1) The list of things that Treaty have promised to do but not done is now so long I can't keep track any more (If I have time I will go through and tabulate this. Has anyone else done this yet?)
(2) I have documented the facts and reported to the SEC 4 times that Treaty have lied to their shareholders.
(3) The CEO who has not added any value to the company or its shareholders has been paid over a $ 1 million over the last 4 years.
(4) The co-CEOs of Treaty have been convicted of fraud in the past and are currently being sued by former members of Treaty board of directors.
(5) Treaty business strategy has changed significantly twice in the last 4 years. Originally it was to invest in small US fields that other companies had given up on. In 2010, Treaty changed to investing in small US fields and exposing themselves to higher cost and more risk in international wildcat oil exploration in Belize. Then in late 2013 - after the sonewhat bewildering disposal of Mitchell 3 & 4 wells - they announced that adding oil production was no longer their strategy. I am totally confused. How about you?
(6) I have been slapped with 3 cease and desist legal threats by Treaty between 2011 and now. I am not concerned with these as they have always only attacked me when I have told the truth. I am very concerned that they use legal threats in this way to stifle the truth about what is actually going on with their operations in Belize.
Above are the facts.
I feel sorry for the shareholders of Treaty.
I hope that it does not take too long for Treaty to fail completely at a corporate level
- as they have done in Belize already. Or that they are prohibited from trading in shares by the regulatory authorities whose job is to protect the interests of the American public.
I now also realize that several of those on this board who have also posted about things that have not come to pass are guilty of misleading shareholders too.
Cheers
Belize Oilwatch
Belize City, Belize CA
I apologize for the lack of formatting if this post that makes it so much more difficult to read. A function of iHangout not carrying over the formatting if my draft into the final post.
(0)
(0)