Good morning folks, the MMTE saga continues. As
Post# of 958
Good morning folks, the MMTE saga continues. As you may notice, this rendition of the MMTE saga is not meant to be perfectly exact or precise. Instead, it is meant to portray a pattern which may help investors understand what happened, what went terribly wrong, and what was just plain awful.
Mammoth Energy announced on 11/18/2010 that it would initiate a Chilean subsidiary, and that it would be called LithiumInvestments S.A. Interestingly, this press release listed Mr. S. Ahshrup as the contact person. However, when I e-mailed Mr. S. Ahshrup at the e-mail address listed, I got William Lieberman.
On 2/23/2011 Mammoth Energy announced it intended to cancel the preferred stock issuance to prior management. The reason given: The company has been unable to come to a considerable resolution and is only protecting the interests of all shareholders while it works through financing situations. In addition, t he company is in final stages of negotiations and expects to announce acquisitions of its Chilean concessions by the end of the first quarter with quick plans to up list to the OTC-BB market. Try to remember how many times this promise was made "with quick plans to up list to the OTC-BB market."
On 3/30/2011 Mammoth Energy announced it was is in the process of finalizing all of its financing agreements . The press release further stated that MMTE has completed negotiations and intends to announce its acquisition roll up of its Chilean concessions imminently.
Then on 5/10/2011 Mammoth Energy announced that it was continuing its time frame for raising capital? What? Odd, since just two months earlier Mammoth Energy announced it was in the process of finalizing all financing agreements. Furthermore, this same press release stated Mammoth Energy is finishing the completion of its new subsidiary Compania Lithium Investments S.A. of Chile which it will use to acquire Lithium assets located throughout the country.
Does anyone already notice a pattern developing? And, we haven't even touched on the financials. I am not certain how detailed I will make this saga. I guess it all depends on requests from others, but a lot can be learned here.
Food for thought, first William was a shareholder himself with a billion or more shares, then not, then awarded shares again. What happened to these shares? Who got the money when William's shares were sold? One would assume William got that money. Right? And once the shares were sold another award of new shares occurred.
The saga continues --- stay tuned. Watch Trilliant closely you will see the same exact pattern.