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GEH isn't that non-public information?
"I am told the leases alone are worth around 40 million dollars.. The PPS is so undervalued it's not even funny."
Who told you the leases are worth $40,000,000? tia
How can 30% control the company?
Well, how can 3% even think about winning this r/s vote? It is friends and fellow believers..That is how..
The half price on AMEP stock..was dropped..so, why can't the note sumply be settled at half price at CB's wish? Sorta like selling a/s at a 50% discount..The only thing that has changed is JB doesn't have that option spelled out in the note..
The note is good until Sept..then another replacement may be issued..imo
steady..it isn't necessary to actually own 50.1% of o/s shares..his 35% + 15% others who support hime gives him control..
ctb said "33% is "control"?
And that is before we know for a fact that his 144 shares have voting rights at all.
In fact, this is even before we know that he is going to convert any of the shares, but let's not quibble over little details lol!"
Has it not been posted on this very msg board that CB claims to have the vote (yes) locked up?? Is he right? Is he close? If either is true..33% and friends will vote his way any day.
There was some debate on this board about whether or not CB could convert all shares immeadiately..Now it is reported by none other than yourself..that CB can convert all at once..hmmm
Shares locke up from selling does not take away the right to vote..
The 33% is not a little detail..no way..
"A) If he was to convert all of the shares, (and he could do it the day after the split - if he wanted to) - then they would become 144 restricted locked-up shares. The waiting period would be would be two years before he could sell any of them. TWO YEARS."
The conversion to common stock will give CB control of the company. He doesn't need to sell any shares..In fact, he gives up a little control each time he sells shares..
The control is what bothers me..Like I have stated before..This will be the last vote where the common share holders have a chance of winning a vote.
The pps will drop accordingly..we are going to take another hit
twistedfreak..what pps do you see the funds buying above? and when do you think the pps will reach that level..
If the $5,000,000 suposedly waiting to be invested is sold at $.50 share that would be 10 million shares added to the 19.8 million after the split (not counting JB or CB) doing anything)
So, that would result in 39.8 million shares o/s..that is too low a float for the stock to be liquid for a fund buying a signifcant number of shares..
I don't have any hope of that happening..
twistedfreak..what fund or venture capitalist would touch AMEP after the sorry performance(transparency & financial) to date? What would be so attractive to them?
GEH What was transferred to Bend Arch..the liability of the note or JB's ownership of the note? I can't imagine why JB's ownership would be transferred to Bend Arch.
Is there any SEC filing stating that the terms have been modified to take away the 50% discount on conversion to AMEP stock?
The bookeeping entries to record the note is not the issue here..The issue, for me, is can JB convert the $2 mm note to shares..I don't see anything to make me see otherwise..
You did not read what I said correctly..For some period of time the statement will be true..even if only 15 seconds..
Sorta like what the meaning of is ..is..
"if CB shares are not split 25 for 1, how can the above statement be true? Is the company deliberately misstating the facts?"
That statement will be true...until CB converts or AMEP sells new shares..or JB converts his note..then it will no longer be true..
Add 180,000 to the NO vote. eom
did you read thsi?
"Charles Bitters, President of American Energy Production Inc. stated, "AMEP HOA-800 is an interesting new chemical technology. We believe that this product will greatly enhance our current properties as well as have a demand in areas where there are heavy oil operations. We realize this is the initial stage of product testing and cannot assure the results will be as anticipated." The Company will continue to keep investors informed of all Company activities."
The last line makes me wonder..Didn't somebody post where AMEP never paid for the rights to sell HOA-800..If we only knew..
I need help from an oil/gas savy person
This link is from AMEP's website..
http://www.americanenergyproduction.com/AmericanEnergyTaylor-Ina.pdf
Look under reserve reports..then production resources..
This is a letter from JW Rhea Interests, inc Pretroleum consultants dated 3/26/04 regarding probable reserves a 12/31/03.
If the actutual gas/oil on the said property is anywhere close to the estimates..AMEP is worth a lot of money..perhaps several time the present depressed valuation..
hayhauler..ya got any shares? You know the drill..no shares no going inside..
This link is from the I Hub value microcaps board
http://investorshub.advfn.com/boards/read_msg.asp?message_id=21359807
It is one example of a company being taken private..It is not in the same little league..but the principal is the same..
ctb..bye EOM!
ctb..what can I tell you? You have made up your mind..and there isn't anything going to change it..is there? You gotta be kidding..
With all the yes voters out there pledging allegiance to the company and CB's 30%..He will have control..and when JC converts..game over..
Just how long will JC sit on the convertible note?..
I am having tr..with Ameritrade
twist..then I hope you don't work for a public company..they have to make that determination all the time. One must be able to see the diference..
Just look at AMEP's past pr's..they thought they were material or they would not have paid to do it..
ctb locked up means he can't sell them...it doesn't mean he can't vote them..
ctb CB gets to vote upon conversion..
And that is when he decides to convert....
It doesn't make any diference if he is locked in or not..he would be able to vote..
What is not material to a major oil co can very well be material to AMEP "IT RAINED!" We bought an Ideco drill etc..
Then what is a material event??
What is not material to a major oil co can very well be material to AMEP "IT RAINED!" We bought an Ideco drill etc..
Then what is a material event??
ctb Think about this..he won't want to sell..even if he could..he will however have the right to vote his shares..
That is the part of this coming proxy that is bad for us.
He could vote to take the company private and "pay" you whatever he pleases and you ain't got a thing to say about it..Then you will kiss your investment good-bye..
To make sure there is total control JB can convert his $2 million note to $4 million worth of common stock..
Do you trust these folks that much??
ctb you posted "A) If he was to convert all of the shares, (and he could do it the day after the split - if he wanted to) - then they would become 144 restricted locked-up shares"
That is all he has to do..he will have control..selling them (if he could) would relinquish that control. He will controll all stock holder votes for as long as HE wants.
Then msg board opinions will be meaningless..
Since a class of stock has the same provisions for all holders it would indicate that JB could convert as he chooses.
ctb you said " would not expect them to be sold into the float in large dumps - if the company is growing."
JB would gain & retain control by converting & not selling..From that time on..he gets what he wants in the way of share holder votes..& if JB converts his note. How long will JB be content to earn 8% on the $2 million face value when he can convert for $4 million?
We will have to wait for the market to determine if it treats all these new shares in the market cap anyway. That is a big IF to me..
HEC now HKN split several years before the recent one(1:22.4)..it was trading around $.50 pre split..it was $5.00 after the 1:10..and gradually went down to $.50 and lower after that split..It is histories such as this that makes some folks gun-shy of splits..
The company did one thing to "help" the share holders..they gave warrents to buy x shares per share at a good price (I don't remember the shares or discount)
"that how the preferreds were to be managed was not part of the original plan but that the advisors to the BOD that they have relied on for this overall plan advised them to manage it this way."
Is this a smoking gun? or what?
On the stated number of shareholders..I have seen the 400-450 figure numerous times..I am not questioning you at all..
I have the "feeling" that shares held in street name end up being counted as 1 for each broker..ie: Ameritrade, they have more than one AMEP holder, could be many. But may count as one..
Anyone know for sure?
I wonder what the thinking was when CB gave JB a 50% discount on conversion of the convertable thingy? Is this not perhaps another sign of contempt for the common share holder? imo
Said another way..at any given time the $2,000,000 is worth $4,000,000 at whatever AMEP is worth..
ot farml1234..Sometimes there is sunken treasure on those ships and they can be brought to the surface using modern technonlgy..don't give up da ship...lol
ctb
Will you take GEH's word for it? Look at his post 25909 dated 6/17/07 on this board..
ctb
Re: JB..he has a convertable debenture(not stock)@ 8% interest per year. He or the company can convert to common shares at any time..at 50% of the bid price on the day of notice.
So, if the bid is $.75 ($.375 to JB) on the conversion notice date the $2,000,000 will give JB 5,333,333 shares..or 28% of the 19 mm shares post split..The lower the atcual bid..the more shares JB will get..
I don't have a link..but I have seen this info several times..
Think about this for a second..when the preferred shares were created..why wasn't there a preference upon liquidation included? Could it be that somebody didn't think it would be needed..same for dividends..
Why was the provision to essentially appoint 2 to the BOD? Seems like that would be helpful in case some other folks were voted onto the board..just a thought
But..the 3 commons for 1 preferred..and no r/s in the event of a reorganization..CB did "pay" for those shares $464k..
What is he going to get for that "investment"? If he converts and sells 10,500,000 @ say $.75 or $7,875,000 that is around 17 times his cost..
However, suppose he converts and holds..he will have enough shares to control the company, with his brother with maybe 28% and his 35%..
Then what? AMEP could go private..the possibilities are many..
ctb
Re: how JB issued shares out of the present a/s..see post no
29142
http://www.americanenergyproduction.com/OL-07-07-05.html
This is AMEP letter to us commoners..see no 3 and his disertation on his preferred shares..
John B has $2,000,000 that can be converted to common shares
See post 29170 re: failure to reserve enough common shares for JB & CB.
None of this makes me feel warm and fuzzy..
Like I said before.."IF" more than 500 million shares have been issued that might be why CB is confident of winning the yes vote..That is why I suggest actually voting "NO!" rather than withholding your vote which is an automatic "NO"..The count would then reflect some problem..imo
"The shares are convertible, at the option of the holder"
What does at the option of the holder mean???? Sounds to me that the conversion can be "at will" not necessarily every 90 days..anybody know for sure?
10,500.000 shares divided by 200.000 -52.5 months or 4.375 years.