Petrodorado Energy Ltd Cheating with Agility CEO Khrishna Vathyam and VP Max Rolla, create false expectation among shareholders to raise funds, left behind the obligations and unacomplished contracts and kept the money Calgary Alberta
Petrodorado Energy Ltd (TSX-PDQ) is public Canadian international oil exploration company with operations in South America. It raised 75$MM at $0,35 per share on 2010 and $0,65 on 2011.Today the share price is at $0.05. Investors lost 93% of their money. The enterprise value of this company is -$15 million.
Petrodorado Directors ans Executives awarded for themselves options at $0.25. Which it means that when investors get their money back (if it would be possible), these people will make several millions, besides that they alow for themselves overheads of over $5 million
The work plan & commitment, was to developed 9 oil fields; 6 in Colombia 2 in Peru and 1 in Paraguay. Next year they sold or left 4 of these fields. They created expectation among share holders and then left them, provideing for themselves plenty of cash and expensive wages.
How did they cheated me? They hired me for selling and or farmout 2 blocks they had in Peru, the blocks where sold for $15 million and they runned out the country, leaving unpaid contracts and other liabilities. It is their procedure create expectations get money and forget about their compromises.
1 Updates & Rebuttals
Tupac
Lima,Petrodorado Energy Ltd Cheating with Agility
#2Author of original report
Tue, August 27, 2013
Petrodorado Energy Ltd (TSX:PDQ), is a public Canadian international oil exploration company with operations in South America. It raised $110 MM on the stock market in 2010 - 2011, investors paid $0.65 per share. Today the share price is at $0.05.Investors have lost over 90% of their money, while the board provided optins at $0.25 and outstanding wages for themselves.
On the 2nd funding, in 2011, the commitment with investors was to develope 3 oilfields: 2 in Peru and 1 in Paraguay. A year after they raised the money, they sold the fields in Peru and left the one in Paraguay, keeping the money for their overheads and glamoruos lifestyle. They created expectations among the shareholders and did not accomplish their commitments.
Particularly, they hired me to sell 2 oil blocks they had in Peru, three months later the blocks where sold thru and offshore operation. They did paid my fees and left the country with liabilities and other irregulariries.