This may be of importance to you!
I invested in Leland Energy in July of 2009 in the Asset Management Drilling Fund, LLP, and attended the Las Vegas event in 2010. It is unclear to me at this time if they are conducting business inappropriately, however I will say this. At the time of the event Stephen Thompson was the CEO of Leland and Consolidated and when asked pointed questions about Consolidated's intentions, goals etc.. he could have at anytime stated he AS CEO of Consolidate believes .... but he never mentioned anything about being a part of Consolidated and his answers were extremely short and non informative while transitioning to another topic leaving me to believe he had little knowledge of Consolidated's strategy other than his statement about looking for bigger fish than Leland Energy.
Months go by without a royalty payment or any contact - I have had to call and pushed to receive my royalty payment, and I have received it, but I don't like having to ask several times for what is due me.
I received A ballot to vote for the exchange of the 1st operating well for stock "equities" in CNSV. I voted against the sale. Here are the reasons why. CNSV was originally in organic food and appeared to have failed in that business. They shifted gears and were now trying to use their penny stocks to acquire operating assets, they had no website or detailed financial information available and the management looked like it was due for a shake up. I have asked repeatedly to three different staff to get information about the vote data because I don't want penny stock in a company that is questionable, and I would believe anyone else investing in non traditional investment assets did so because they were intelligent and adverted to the stock market condition, thus would want to stay away from equities. I have never received any information and most importantly the ballet stated that management "Stephen Thompson" strongly recommended the transaction for stock. I called Leland Energy and spoke to the person involved my my initial transaction and specifically asked why management would even consider recommending something that looked to horrible on paper and what did they know that I didn't and why did they recommend this transaction and to please provide me a list of the vote results and associated data that I never could get. Well this would have been a good time to state STEPHEN THOMAS WAS THE CEO OF LELAND ENERGY AND ALSO THE CEO OF CNSV CONSOLIDATED SERVICES and that maybe it might be self motivating to get his clients to transfer good working wells for penny stock at a big loss. My own research a few weeks later showed Stephen Thomas was the key person that facilitated the transfer of good working wells for penny stocks at a loss to his clients and never disclosed he was the CEO of both companies, nor would his employees. When asked the answer was they told some clients and thought they had told me too... come on!
Now for the numbers - CNSV stock is questionable yet was trading at aprox $100 per share before tens of millions of assets were exchanged - the fund received 1.1 million dollars total from investors for 4 wells. 1 well, of 4 would then cost $275,000, yet it was according to Leland Energy management valued at $165,000, so why on earth would anyone buy something for $275,000 and sell it for $165,000 in exchange for penny stocks valued at ~ $100 with a perceived value of ~ 136% of value which still make the sale a loss no matter how you look at it. Now the stock is under 30 cents and the only winner I can see if the CEO of both companies while he transferred good working assets from his clients to his new company in exchange for non performing penny stocks.
I have asked several times for the vote results and whom my partners are and I cannot get that from Leland Energy - if you are a partner or want to help promote knowledge and transparency of these matters and Leland Energy and CNSV then please post your comments and or contact me directly at
[email protected]