Wow! ......OK, normally don't respond to this sort of post but having a shit day so feel like a rant.
Sorry @Blade2008 , but " I was in this stock" ( have no reason to think that was not true) is the only remotely accurate statement in your musings about BRK
Firstly and unfortunately, BRK have never been at 2.8 cents. RFE may have fallen to that level on their way to oblivion so unless you are an ex RFE holder, and somehow survived the recap with some stock in BRK, that statement is , as you like to put it, BS.
Secondly, Black Mesa do not take 50% of everything for " consulting", they take 25% of " everything" for operating in the USA on behalf of BRK. BRK effectively have 3 employees, the Chairman of the board, the MD and the Company Sec.
BM have a few more employees than that and it's website has a good description of them
and the functions they perform. BM also pay their salaries so non of the USA G&A expenses are on the BRK books.
If you think David , Michael and Loren can run the Oklahoma show from Perth, and by that I mean fronting up to the various county records buildings and looking through lease documents, working out the geological investigations, reservoir engineering, dealing with rig operators and the state regulators and all the other day to day functions required to run this company, then you you must think they are Superman, the Green Lantern and Wonder Woman respectively .
By the way, BM get their 25% after, and ONLY after BRK recoup all their costs associated with each lease, drilling unit etc. So BM do all the work in identifying, accumulating the assets and present them to BRK.... BRK fund the acquisition and retain 100% of the interest that BM present to them. If BRK spend US$3 million on the asset, either through lease acquisition, legals, drilling a well etc, then BM do not get their 25% WI of the asset until BRK recoup their US$ 3 million. So the effect of this is BM will only present the best opportunities to BRK, because if they don't , they run the risk of working for nothing if the opportunity is a dud.
Sorry to be blunt, but it is good that you got out of BRK because knowing jack shit about a stock you invest in is not advisable, and then posting to that effect only compounds the issue.
It is not that criticism , the questioning of BRK is not welcome ......not at all, it is very welcome , it is important and useful because it tests ones confidence , ones belief that their reasoning regarding the decision to invest in the company is sound. Pretty well everyone on BRK Hotcopper, myself included, have been highly critical of the company at some stage, especially on the IR and shareholder communication front. What is however galling , are negative comments made from ignorance, inaccuracy and miscomprehension because having to read through that crap is a waste of time......as is replying to those comments.... however I feel much better.
The BRK share price is in the toilet, no argument there. The question remains , is that due to the company being shit, or that the market does not " get it"?.... all going to plan, behind schedule nontheless, we should get the answer within the next 6 months or so.
Hope you have much success in not investing in BRK
Cheers
Dan
BRK Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
(20min delay)