From:
http://seekingalpha.com/article/1135531 ... -investors"Petrosonic Energy Inc. Set Up To Enrich Insiders While Burning Naive Investors?"
"Petrosonic Energy, Inc. (PSON.OB) has followed the 5 basic steps for a shell set up for insider enrichment.
#1) Business taken public with no revenues.
#2) Seed shareholders given shares for next to nothing
#3) Change in control
#4) Name and symbol change
#5) Forward split while all the shares were insider owned
Petrosonic Energy, Inc. was originally Bearing Minerals Exploration Inc. They filed a SB-1 to go public on December 19, 2008. Conrad Lysiak was the attorney helping with the SB-1 filing. Lysiak has also been the attorney assisting in taking companies public like Great Wall Builders Ltd. (GWBU.OB) and Nova Mining Corp. (NVMN.OB) that was also set up for insider enrichment. They both saw huge promotions followed by a huge dumps”
One could have doubled their invest if they had bought just last January. Or lost half their investment from just last October to December.
And then there’s this: "The new share count now looks like this: Gerhard Schlombs owns 14,625,000 shares, Art Agolli owns 20,000,003 shares, 23 seed shareholders own 29,137,500 free trading shares at $.00089/share, 10 seed shareholders own 885,937 free trading shares at .013/share. Those 29,137,500 free trading shares here at .89 are worth $25,932,375, not bad considering they only paid $25,900 for them.”
Me…I’m not greedy. I think I would cash out for $25 million instead of waiting for the $3 billion cash out. I just not one of those selfish types. I would let someone else make that $2.975 billion. LOL.
BTW regarding "Heavy crude, which until recently wasn't worth the cost of production"...tens of billions of bbls of heavy crude have been produced at prices far lower than we have today.