another gas well, page-12

The company has actually raised $7M, Plus an outstanding $17M in convertible notes. The $17M in convertible notes will have a massive dilutionery effect.
Waiting for Permit announcements, and legal information is the only real proof we have against the companies rhetoric.
If you want to invest in this company its very important to base your decision of facts.
The financial situation without the convertable notes converted is still dire, so they must convert.
They still have an interest bill ticking away, which will probably be paid in more shares.
The have no COO.
Who's submitting the plans, permits.
They have already been denied work permits once for flushing the wells.
Who is actually doing any real work?
They are missing 2-4 Board members, which means the current management can do what they want with very little independant assessment.
They still have around 15 court cases to settle.
In the case of Iowa Tanklies, is paying more than you owed originally plus your own legal fees a good outcome?
I think not.

In the quarterly their cash balance should be close to zero.
This would show they are doing the right thing and settling their outstanding debts. If they have a considerable amount of money it shows that they are not paying anybody still.

Getting any contractor to work for them would be tough, due to their very poor payment record. If you were a new supplier to Marion how would you want to be paid?
Upfront, and at full price I would say.

I am not seeing anything to indicate that we have a new MAE.
I see an old MAE, with $17M worth of dilution coming very shortly.

They need to show real production backed up by decent cash coming in, and becoming cashflow positive.

At current prices they will need around 10-15 mmcf/day to become cashflow neutral, That means getting 20-30 wells working.