"First time poster (So I expect some people to question my motives) but long time watcher. I do not post under any other IDs on any forums now but have been in Range for too long that I care to remember. My only motive is to see PL brought to justice so I'm sure other long suffering holders will be interested to read this.
Posted on behalf of Dave:
OK here goes.
You all know my identity and I know many of you level some element of blame for the disaster that is Range Resources.
If you feel that way, then I am sorry, but your energies would be better spent on the man Peter Landau.
It would appear that the relevant authorities have begun to catch up with the man, who was once known for his often quoted responses to questions with one to two weeks. Those of you who have been in the web of this person for ten years will resonate with this.
There was a time when I sold some Range shares and made a large amount of money and approached PL and Jason Brewer to see if they had a venture that could do with some funding, in the order of $1,000,000. They invited me into Kaboko mining. I won't go into the reasons as to why it was the target investment as that is not important. Consider they welcomed me with open arms.
I was travelling with my family at the time and we had just completed a lovely time skiing in Snow Mass, Colorado and were at the time staying in New York. It was January, 2012.
PL was happy to take my money.
It was some time after that, call it Febuary, when I was told that only half of the shares could be issued, given that the company had used its capacity to issue shares for that year without having to go to shareholders for approval. No problems I thought as this could be done with one months notice and would be a formality. I was told they were eager to have this done as a few other strategic items could be dealt with at the same time. Quite a few promises of said meetings passed with my frustration mounting to the point by March I vented my frustrations and demanded the money returned for which shares had not been issued.
This infuriated PL, I later learnt, as the funds had already been expended on Capex for the company. I thought at the time that this could not have been legal, but in any case why would I care as my money was duly returned. The half million that is.
I remember the money hitting my account and was comforted that we could sort this debacle out. I figured, give me my money back and when you've gained approval, I'll hand it back as we are good to go again. Well it took till June for the meeting to occur.
By this time, all my questions about outcomes at the company were being met with bullshit responses from PL, JB and Tokkas. Always, we are moments away from this and that. You knew the drill, we have all been there. But this was a lot of money and began to annoy the f*** out of me.
part 11 follows
CTR Price at posting:
5.9¢ Sentiment: None Disclosure: Not Held
(20min delay)