Americas Energy Company, Inc.(fka AENYQ)

[LouisDesyjr]

I am starting to lean in that direction. While I DO believe there is coal on the leased properties, I do not think it can be mined at a profit. That would explain the complete lack of cash at the time of the filing. I also question if the leases are valued at anywhere near what they are on the balance sheet for.

Another question that has not been answered, the other company that wanted to do some kind of deal or buy in and has a secured claim in the filing, what happened to the cash or note that they put up? Did it all get spent on expenses with little to no sales or was there never anything of value exchanged? (i.e. Was the other company was some kind of shell set up to put an asset on AENY's balance sheet but it really has no value since they were never going to put in any cash.)


we have part of the answer because the trustee already stopped operations. The second part will be answered when we see what the leases can be sold for or if the leases just get returned to the owners.

Louis J. Desy Jr.
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Disclosure: I do NOT own any shares.