Saturday, September 16, 2017

Thoughts on the Mojave National Preserve’s and the Castle Mountains Monument’s penny stock problem.

First up, the media darling, American Green and its celebrated purchase of the little town of
Nipton, for around 5 million dollars.

No way in Hell will this go through. No way.

Let me clearly state what American Green is. This is a little company that has been around for
about 19 years under various names. This company has managed to somehow survive, despite
its long record of over-promising and under-delivering, mainly by issuing what is known as convertible
debentures, which are then immediately sold as shares of common stock, I might add at some of
the most “onerous terms” in the industry per a prominent financial analyst. Onerous in that it screws
the current batch of common stock shareholders who bought and sold on the OTC market where
this outfit’s stock trades.

They have no achievements at all to boast about yet they are constantly putting out news releases,
leading some to suspect that said releases are just to get the stock buyers(mooches) primed for the next
batch of convertible debenture dumping.

By the way, did I mention that they have over 13 billion outstanding shares currently?

There is talk that the time limit is up today for American Green to finish their due diligence and
decide whether to go through with the deal or not. In other words, they can still get back their 200
thousand dollar deposit on the Nipton property. I look for that to happen unless they figure they can
get some more publicity value by hanging in there.

In any instance, in my opinion, they will not go through with this. Nothing in their management record
of accomplishment leads me to believe that they can get the funding necessary or have the brainpower
and good judgment to see the project to a profitable conclusion.

This deal is as dead as a doornail.

This is my opinion only. I am no stock analyst and am neither a buyer nor a short seller of American Green shares.

Let’s move on to my thoughts on Newcastle Gold and its re-opening of the gold mine next to the newly
created Castle Mountains Monument. I am paraphrasing here- perhaps you heard recently the remarks
made by one of NG’s top executives, Mr. Panneton, where he said that NG wasn’t “adequately”consulted in
the creation process for the new monument. I am probably mangling his quote, in fact, I am sure I am, memory
lapse in my old age, but the spirit of the quote is right on.

If he is referring directly to himself, he may be right. After all he joined the company a year or so ago. But
the company absolutely was consulted- what about the big Feinstein led Whitewater meeting where a top
executive for NG spoke up? I was in attendance and noted that Senator Feinstein went out of her way to get
the views of the mining and off-road stakeholders that were present.

I am convinced that Panneton’s remarks were aimed more for helping Rep. Paul Cook with his initiatives
to turn back the new monuments in the light of President Trump’s desire to cut back the same. Mutual back scratching
in other words.

Flash from the newsroom! Wake up out there and really let this next sink in!

This isn’t the old Newcastle Gold management team that stakeholders were working with!

This is a high powered bunch of players now sitting on the Board of Directors and forming the management team.
Led by Panneton and Richard Warke, both veterans of successful mining ventures, and Warke in particular, buying
hundreds of thousands of shares on the open market- these folks are serious players with many names in their Rolodex’s.
They get things done. The question to me and lots of folks is- will they stick around after the mine starts producing or will
they sell it out right after it starts up? Warke is known for doing that. Get a mine up and going and sell it for a profit.

Speaking of high powered, it is a fact that one of Warke’s mining ventures just brought the former Speaker of the House, John Boehner, aboard the Board of Directors. How long before he joins Newcastle Gold’s? You heard it here first. Is former Speaker Boehner involved with Paul Cook and the lobbying on behalf of Newcastle to reduce the size of the Castle Mountains Monument? I sure would like to know that answer. If he isn’t, I predict that he will be soon.

Morongobill

Sunday, August 6, 2017

Nipton makes the “BONG” time as marijuana company, American Green, “buys” it!

Newspapers all around the country are full of articles announcing this paradigm shift in the real estate business.
A whole little town is being bought by a marijuana company which plans to convert it from a mom-and-pop type hotel/store/rv park to a world class, cannabis based, state of the art location complete with mineral baths, boutique residences, a cannabis based “sparkling water” bottler, and even artists-in-residence!

Here are just a couple of the many “gushing” articles to be found on the web or in your local paper. These links should open in a new browser window.

Calif. town may be going to pot: Cannabis firm trying to create marijuana mecca

A cannabis startup is trying to buy an entire town in California

There are hundreds of other links to be found online, just google nipton sold.

I enjoy visiting the little hamlet of Nipton and have stopped there many times over the last couple of decades. It sits right at the top edge above the Mojave National Preserve and is a great rest stop.

The articles talk about how Nipton sits atop a rich flowing aquifer, one even called it a “Pleistocene lake.” That may or may not be hyperbole but for sure that water and its continued existence is of grave concern, at least to the Mojave National Preserve management and to conservationists, and the local flora and fauna. So the idea of a bottling plant drawing upon that aquifer is sure to be the subject, or should be, of some serious environmental review. Such reviews take time and cost some serious money, hold that thought for later.

Hopefully folks involved with the knowledge of the bureaucracy will follow this up with their thoughts on the subject.

There is talk about the new buyer incorporating the town after purchase so that the laws and ordinances can be written and implemented so that Nipton can be pot friendly, with outside recreational use etc allowed openly. Now that will take some serious lobbying and lawyering, again hold that thought to later.

Look I am not going to try to introduce any morality into this discussion but I do respect those who will. In the spirit of disclosure, from my late teens to early twenties, I smoked my share of pot. I am now 63 and haven’t touched it in decades. I do feel that it should be legal and sold in a controlled and taxed manner.

But perhaps this is not the company or the place to further legal marijuana’s place into society.

I believe that a deeper look should be made into this company named American Green which has now become the white knight riding in to buy and restore the sleepy burg of Nipton.

Think about the items I mentioned above in my post. Think of what would be involved in starting a new town and project and making sure that it doesn’t run afoul of any legal or environmental rules and regulations. How many $500 per hour lawyers would be involved in such an undertaking? Think of all the researchers and lobbyists would be involved. This kind of stuff costs big bucks. Will this company be able to pay the bills?

Per the news articles, American Green put $200,000 up and will pay the rest in cash, about $1.8 million.

How will they get the money? According to the broker who is handling the transaction there are other qualified buyers standing by, just in case. Is that typical real estate lingo? I seem to remember the same type of comments when I bought and sold both of my houses in the desert. Guess we will just have to wait and see. Or can we do a little basic research and try to get a better handle on the situation?

Something I might add that basic research appears not to have been done by all those high powered “reporters.”

Remember, this is basic due diligence here about to be presented for your perusal.

american_green_yahoo

american_green_google

Above is what a 30 second search on Google and Yahoo finance sites turned up about this “cannabis
investment firm.”
  Friday’s price for this “pink sheet” stock was 0.0016. Not even a penny a share.
Yet we, and the reporters, are expected to believe that this “massively capitalized firm” will be able to a)
pay for this property and b) all the planners, lobbyists, lawyers and others involved to turn this company’s dream into a profitable reality. Oh, and handle all the bureaucrats involved with getting to all that water underground and to get a bottling plant going.

Perhaps they have been imbibing a little too much of their cannabis water? Do they even have such a product or the wherewithal to develop it?

Please look up at the charts above again. Note the 52 week range for this stock which is 0.00 to 0.01. Note also the total number of outstanding shares, 13.91 BILLION! What kind of financing do you think this penny stock “cannabis investment firm” will be able to get?

Well since we are not mind readers perhaps we can get some clue from their financials. Bear with me, I will try to keep it simple. Here are a few links to look at if you are interested.

https://americangreen.com/

https://americangreen.com/investors/

Note this page only has a stock chart, surprisingly there is no other financial data available there at the company site so a deeper look is required.

The two screen captures below are the latest company supplied balance sheet and the direct link to where you can see it is below. Since this is a U.S. penny stock, it supplies the data to the OTCMarkets which is where the stock is traded. You can also check the SEC Edgar site as well.

Note any time you see this (xxxx) that is a negative number, also known as a LOSS.

http://www.otcmarkets.com/stock/ERBB/financials#

american_green_balance_sheet1

american_green_balance_sheet2

Below is the SEC Edgar results page. Be advised that I checked each entry and as far as I can tell, none are
the company who has bought Nipton. Dead end.

american_green_edgar

Getting back up to the balance sheet above and after looking over the income statement, we are expected to believe that a firm with 378,000 in revenues and a negative Net Tangible Assets Value of –$7,291,000 as of 6/2016, the last financials reported, will be able to cough up 1.8 million dollars more and pay for creating a new marijuana themed town- all I can say is that they must think that we are all smoking some wacky tobacco.

However, if the company provides the latest financials, we might get more information, such as how they managed to get their hands on the 200,000 dollar deposit for this real estate sale.

I have  invested speculated in several penny stock firms and a lot depends on the story and the publicity. This stock might not be a bad flyer to take. In fact, tomorrow it may get some bounce. Already I have noted several pumpers showing up on their Investor Hub stock forum pitching this, especially the pot themed town angle.
https://investorshub.advfn.com/American-Green-Inc-ERBB-1596/

Never a dull moment in penny stock land, that’s for sure.

So I have my doubts about this deal all way around. From environmental to financial, I am thinking that this won’t be done. I am not even sure that the deal won’t fall out in escrow. Just my opinion.

Speaking of opinions, here is one from someone who wrote an instablog about American Green over at Seeking Alpha, a respected financial forum site. A well documented article and worth a read.

ERBB: American Green 2016 Annual Report

So bottom line, don’t hold your breath waiting for the new California marijuana theme town to come into being- or for the real estate deal to even close……….

But if you have a couple of shekels and ain’t afraid of great risk of losing it all, you might take a flyer on the stock as it may just rise, just don’t fall in love with your position.

BIG FAT DISCLAIMER:

I am not a shareholder in American Green nor plan to be. I am not a financial advisor. I am not a financial blogger. I hope this deal does not go through as I like Nipton just the way it is. I prefer the aquifer not be drained for bottled cannabis water purposes.

Morongobill

Wednesday, June 7, 2017

Good Youtube video set near last place I camped

The lady camped right by the Mojave Cross and the video shows off the area.

I actually camped around 1/8th of a mile away as the buzzard flies.

Well worth a viewing.

Guarding the campsite

Morongobill

Tuesday, May 23, 2017

Overnighter at the Mojave National Preserve in my Kamprite tent cot

First, here are three videos with the last showing the tent cot fully setup.

Shaky video warning!

Nice Joshua Tree forest. Impressive rock pile behind me(not in video)

It really is big!

Link to the campsite location on Google Maps. See satellite image.

Here is a cropped satellite photo of the campsite. Note the fire ring off to one side and the
place to pull a truck camper in. Note: I do not recommend trying to bring a rv in on the dirt road
that leads to the site. Rv’s camp all the time by the Mojave Cross, lots of parking there. By the
way, the white mass is big rocks and slabs.

cross_campsite

Guess I picked a good time to take this trip. The same area will be in the low 90’s
the next two or three days. Saturday night, it got down to 45 degrees F, I got pretty cold.
I was expecting temps in the low to mid 50’s and left the four windows open. Only the no-see-um
bug screens were closed.

IMG_20170521_053032

This thing is a big bulky bear and weighs about thirty pounds or so. To set it up, you need
to turn it on its’ side. It comes with good instructions on the setup, not so good on how to keep the
windows rolled up and out of the way. Mine stuck trying to open all the way on one end and only
a string of loud expletives got it to open up finally. The tent part was easy to handle and more
intuitive. Don’t even think about using this monster on a backpack trip. This is for car camping, used
outside of the vehicle.

Sleep quality was better than expected, the unit has a pad built in and I also had my Thermarest. You
will not feel cramped in and leaving the windows open makes it seem even larger. I am a side sleeper
and had a whole lot of room. I highly recommend this to anyone!

IMG_20170521_045843

Not sure how many more times I will use this over the next few months as the weather is really about to go
into full blown “blast oven” mode. This may be the last time until fall rolls around. But at least I did get to finally
try it out.

Morongobill

 

Saturday, May 20, 2017

Trying out my new tentcot tonight for the first time!

The plan is to make an overnight camping stop at the Cima Dome area inside the Mojave
National Preserve. It is about 200 miles from me so a good 4 hour drive up and back, I am not
going to stress the Morongomobile in the first day of the heatwave coming. Highs expected today
are 95 at Kelso, 96 at Baker which is the home of the World’s Tallest Thermometer and only 81
at Cima!

The dangers to my car are climbing the Cajon Pass and the 18 mile grade up from Baker to reach
the Cima Road exit. Odds are after climbing the Cajon Pass, I will choose to take I 40 and exit Kelbaker
Road and reach Cima from the other side, swapping the major Baker grade for an easier and more scenic one from Kelso Depot up to Cima.

Some of you are aware that I quit the bus driving business and ended up transporting autos for a living,
supplementing my social security. The problem is that after driving or being a passenger for 200 miles or so,
I am just too tired to come home and immediately pack up and leave to drive another 100+ miles. It would
be nice to have a two day camping trip but it just isn’t possible for a while.

I really don’t have any cooking gear so the plan will be fast food and other junk for a day. But I will finally get
the chance to test out my KampRite oversized tentcot. With my thermarest pad inside it should hopefully be
well worth the money spent.

Here is a video of a guy using one out in the Canadian wilds that is well worth a viewing! I watched it two times
and so did my brother. Now this is just too big and bulky for anything but car camping, so if you are mainly a backpacker,|
I wouldn’t rush out to buy one.

No dogs in my tentcot!

I will put up a post of the trip within a couple of days so see you when you come back.

Morongobill

 

Wednesday, May 10, 2017

Troll? Moi?

Imagine my surprise when I was visiting another blog that I had added to my favorites long ago
and found this statement which will be linked to the site.
Seriously, Trump & his supporters (envision the prolific, arrogantly ignorant, deplorable scumbag internet trolls Morongobill and S Brennan who will support Heir Trump all the way to Armageddon) are North Korea and if this psychotic onslaught of hypocritical contradictions they’re engaged in continues unabated, and I don’t really see any True Resistance to it on the horizon (The Democrats are a Sick Joke), then America soon enough will be North Korea too and never know it.

Click on the link to view the statement in context.

Look, as one who leans liberal, it must be a big surprise to learn that I voted for the Donald. My reason was mainly
that I felt, and still do, that he was the “anti-war” candidate. Having said that, I am disappointed that he seems to be
going along with the Neocons a little bit, 59 cruise missiles fired after an obvious false flag “Sarin gas” attack, the prime
example, along with this North Korea business as well.

Commenting on a political blog does carry some risks though when you manage to tick off somebody, as the link
above so clearly proves. In the spirit of full disclosure, I recently pointed out to someone online that his blanket statement that all US vets are war criminals or complicit in war crimes should be said that very night to a vet’s face in a bar that vets hang out in- that the free speech might result in him picking up his teeth off the floor- but this happened just a couple weeks ago, after the blog post above was published.

So that isn’t why this Cole N Holefield is ticked off at me. One of the blogs I have commented on is Bernhard’s great blog entitled Moon of Alabama. This Cole N Holefield used to post comments there and evidently was banned. I say that because he hasn’t been posting there in quite some time. I enjoyed reading his comments and that is where I heard about his blog. He may have posted on other blogs using that pseudonym as well.

I will simply say that I was surprised at the vehemence of some of his commentary of the post mentioned above. I am not referring to what he wrote about me, be clear on that.

Morongobill

P.S. Here is a pic of me just in case anyone wants to know what a purported “troll” looks like.

Oops, wrong picture.

Just look at the comment section at the end of the linked blogpost. That’s the real me.