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Or like many such scam artists, he is quite good at covering his tracks.
I suspect that the SEC won't remove GTEM from scrutiny until they are convinced that Joe et al. were not working with higher ups in the company. And that is as it should be.
His letter of resignation said he had been board member for 2 years. That's not a short time.
TD Ameritrade will trade AENP via the internet.
That would be fine with me. It would take some serious events to make that happen.
That's what I heard at the meeting.
SAMdashada......I'm not clear on this....
Did GTEM receive a WELLS NOTICE ?
PR out from the company about the Wells notice.
If I recall correctly the share price the day prior to the RS was 1.2 cents.
1.2 X 25 = 30 cents
Last 6 trades were at .38. Looks like we are holding ground since the RS.....
I know you don't like good news, but there it is.
Oh Rats....... No massive dilution, nor grab for mega numbers of shares.
The sky didn't fall as scheduled.
Oh my goodness, what's an investor to do?
Could it be that CS is really trying to get this company to produce oil and gas?
Nah, no one would believe that.
There are way to many really smart people that have assured me that this is a grab for control of the company and that the company will never produce anything of value.
Doom is just around the corner. It must be. It has to be. There just is no chance that this company might actually produce oil and gas.... is there ?
Did the report indicate whether the clean up issue was taken care of by the time the inspection was made?
Thanks for the info.
Steady_T
That is a more plausible statement.
Booksmoker...... "almost all longs bailed out long ago"
So what do you suppose happened to all of those shares that the longs bailed out on?
Did they just evaporate?
Did they suddenly get retired by the company?
Did they get eaten up by the monster that lives in the sock drawer?
Did the shorts buy all the shares that the longs held?
That is the silliest statement I have read on this board in a "long" time.
My experience with RS is that they hold at most for 1 day and then there is a big shake. After that the price starts the down trend.
We shall see if it holds as you suggest and then starts to drop.
News would be most welcome.
I have been trying to buy in the spread all day without any luck.
I had hoped to pick up some shares on the MM shake after the RS took effect. So far no MM shake.
Too bad all the negative nabobs were wrong. I was looking forward to buying more at .10 to .15
Don't let your keyboard hit you on the backside on your trip away from the board.
I guess you can't stand the possibility of positive things happening so you feel the need to cut and run.
I can't say that I'll miss your negative outlook.
Thanks Gandalf.... My Atrade shows AENP now also.
Tomorrow we see what the price is going to do.
Steady_T
Yep... That DTC.
You had AENP shares in your account on Friday? Sweet. As far as I know you are the only one.
Anyone else have AENP shares available on Friday?
I just spoke to the transfer agent to find out when we can expect the new AENP shares to show up in our accounts.
They say that DTC is dragging their feet a bit, but when he mentioned that the number of shreholders makes a difference in how long the DTC takes in getting the shares out to the brokers, I said there were 5000 shreholders. He replied that would take some time for all of the brokers that hold shares in the street name to get back to the DTC.
The process is that the NAZ approves the RS. The transfer agent make a request to the DTC. DTC sends out a request to the brokers for all of the amounts helds in street names so it can calculate the fractional shares. They get that info back, run the numbers and then send the new shares and amounts to the brokers.
The transfer agent said by the end of the week at the longest. More likely sooner than that. Ameritrade suggested that Tuesday was when they expected the shres in.
FWIW
Steady_T
What your Ameritrade doesn't show is your AENP shares in your account yet.
I suspect that the MM's are waiting for enough bu and sell orders to line up so they can match them. Without a supply of ANEP shares to sell that is going to be a challenge.
Bid .10 Ask .50 on Ameritrade LVL II.
I had to call Ameritrade to get their computers to accept the new symbol.
I have heard the number of around $6 mil as being how much CB raised thru stock sales. Can anyone confirm or provide a more accurate number?
Thanks
Only in your mind.
You assume that there is news to give. That may not be true.
http://www.snopes.com/autos/techno/cruise.asp
Another urban legend.
Just because you proclaim it to be myth does not make it so.
I'll give you that the announcement of an RS has a negative effect on any OTC BB stock.
We saw that in the first several days, then the price stabilized.
It is after the initial drop that the extreme posting started and the price began it's nose dive.
The stock price dropped before the vote on the RS....
It was the announcement of the RS and the unremitting negativity that occured in the resulting discussion that dropped the price.
The RS hasn't happened yet.
I expect the the price to fall somewhat after the RS, as that is the most frequent pattern resulting from a RS.
I further believe that the falling trend will reverse only when there is some positive production news and news about the challenger rig going to work.
Once that happens the RS will be put behind us and the price will adjust to reflect the actual activity of the company rather than the emotions created by the RS. Whether that will be a higher or lower price will depend on the facts at the time.
And if they were....so what.
I have to agree with you on this post.
Some people deal badly with uncertainty.
I don't expect a rocket ship, but I do exect this company to make it and be a worthwhile investment. When or if the actually happens, only time will tell.
No one knows what the future holds for AMEP. There is only one's best guess.
By the way, for those who feel that this stock is guaranteed to fail, it is possble to short this at Ameritrade.
Steady_T
I went to the meeting and did the tour of the sites. As far as I know there is no information that is not public at this time.
I wish it were otherwise.
I don't expect any PR's soon unless they start getting results from the Padgett wells.
The 11 is producing but at a low level due to the water it makes. They are having to get another injection well permit.
The 12 was having a down hole valve being replaced when we were there. They are still working on getting the Fraq water off the well as I understood it.
I believe that the answer to the question about why the board members did not own stock, was that when the company was a BDC, the board members were required to be independant and were not allow to own stock by SEC rules.
When the board members were then asked if they would now buy stock, they declinded to answer either way.
Or at least that's the way I remember it.
In corporations it's one share, one vote. In politics it's one person, one vote. Please do not get the two confused.
I guess in corporations the phrase "money talks" is literally true.
You have no way of knowing if the majority of stock holders votes for or against the RS proposal.
All we know at this time is that the majority of shares were voted for the RS.
CB said during the question and answer session after the official meeting was closed that there are 5000 shareholders of AMEP.
You might save your complaining about "someone lost it for us" until that actually happens, if it happens.
There is nothing stopping you from selling your shares Monday morning, or waiting till the day before the split takes effect.
You certainly had the opportunity to sell back when the RS was announced, but obviously chose not to.
If you lose money on this stock, blame yourself. There were plenty of folks that offered the idea that selling shares at the announcement and buying back later at much reduced prices as a strategy for dealing with this situation. If you had sold at .05 and bought back at .02 you would have muc of your money in your pocket and still have the same number of shares.
I wish I had been smart enough to do that. But I didn't forsee the price declining nearly as far as it did. Oh well. My fault on that, no one elses.
I bought 100K additional shares the day before the meting. I will consider buying more after the date for the RS is set and I see what PR's come out between now and then.
I will also be watching the day of the RS with expectations of a big dip in price sometime during that day.
You speculation assumes that CB pays off all of the items you list with shares asap.
If the items are handled in another way or simply kept in abayance then there need not be any increase in the shares outstanding.
In the question and answer session after the vote was taken, CB said that he did not expect to sell any additional shares until the shares price increased considerably over the post split price.
We shall see if that is the way it works out.
The bottom line to all of this is that CB has been given an opportunity by the shareholders.
Only after time has passed will any of us know whether this was a wise choice by the shareholders or not.
I bought another 100K this afternoon..... I'll be attending the meetng tomorrow.
Steady_T
This web cast is worthless.....I'm getting one word out of fifty.
And you guys try to make CB sound like he's Idi Amin.
There is no bid or ask because we trade on the Grey sheet. As such there is no company making a market in our stock. The rules say that the MM's are only supposed to fill un solicited orders.
I'm pretty sure that the company is not buying back shares. We will find out when and if the company starts catching uo on it's filings.
If CB converts his pfd shares he will have 33% OF THE SHARES. Still a long way from the 51% required for total control.
SteadyT