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I'm afraid it is becoming increasingly evident that the shareholder/CEO relationship has deteriorated to such a point that reason and common sense on behalf of shareholders is in jeopardy.
It's been that way since the summer. buzz buzz
Don't forget the mention of Mr. LL of FR...
Hey, no need to be suspicious, gand. We should hear something in a 'few weeks.'
'What's changed?' Good one! ha!
Sorry, gand, but it's not our company any longer. The yessies took care of that a few months ago...
This is why it is time for bitters to return the favor to the folks who supported him. All of the multi-million shareholders - all of the folks whom christopher canvassed and promised 'news is on the way'. These folks supposedly have bitters's ear, or is that just when he needed some votes?
It's true. He doesn't have to do a damn thing for any of us, but if he is such a stand up guy he will do something; especially if enough folks get on him - the 'good' folks, that is.
Then again, if there's no news, I guess we're all doomed then...
An exchange from another board:
To: BarnettshaleAMEP@yahoogroups.com
Sent: Wednesday, October 10, 2007 9:43:55 PM
Subject: Re: [BarnettshaleAMEP] phone call to Joe Christopher
If all of this true why don't they simply tell this to us shareholders?
I voted my 2,000,000 shares for the reverse split because Joe call me in July and told me that positive news regarding drilling, production, financials, etc. would be forthcoming right after the vote.
I am not a basher; I am a loyal stockholder and have been for over 2 years, but I am dismayed that they don't have the time or inclination to say anything. Thanks.
Response:
same here. I owned 1,000,000 pre-split and joe called me with the same info. Then I called telling him I was coming to Dallas and wanted to visit....never got another phone call. Left two messages including days I'd be there...nothing. I still own the shares and hope he is sincere and honest. We need information and soon. If we continue to decline the rebound will not enough to make a difference. Unless ,of course, the news is substantial then ...who knows, can't speculate what it would be.
I continue to be long but am worried. why don't they release a state of the company type pr? They have x amount of wells being drilled, fraced, producing etc. glta
Sounds like honest Joe was busy in July. Wonder what other wholesome activities he's been up to lately? Gosh, I wish there was some way for us shareholders to have some leverage with the company. I wish could show them that we deserve to be informed on a consistent basis. Maybe if we would vote no on this proposal we could demand that they be accountable to us.
Oh... that's right... too late. Damn!
Hey, why don't all you yessies get on the blower and put your money where your vote was. If no one's picking up, it's probably because the smooth talkers are selling used cars on the side. Just leave a message...
Yeah, more whining. I know. It's about as annoying as the support of the unsupportable and watching, since before the vote, folks trusting in some men who have in no way to date proven themselves to be trustworthy.
Sell and move on! Love to. Prove me wrong, management. For all that is holy, prove me wrong.
weak kneed or just plain sour, eh? I would guess that there's a fairly large contingent who could be described as neither of those, but who are still very pissed off about being tens of thousands of dollars down and having yet to see any proof that our now extremely wealthy CEO is still doing anything but a sh*tty, self-serving job.
Yeah, I know. Sell and move on... Hey, I'm trying but the line is loooong...
heaven help us...
Yeah, you're a regular genius...
Stockholders: "You mean you really think you deserve a larger portion of the company and a huge payout as a result of the reverse split?"
CB: "I sure do."
... yeah. like in early june.
fish, why don't you and your birds get on the phone to your date and tell him your corsage is wilting.
got'em. thanks, man! em
I heard from someone who was at the meeting earlier today. He provided a lot of interesting information. He mentioned that when he has some time he's going to send a post out. One of the most interesting bits he picked up was that CB has some big local supporters/shareholders down there. That's why they were so confident about the vote. He mentioned that while everyone was so worried about CB getting control of the company, he probably had it the whole time...
Can anyone remind me when that blow out video was posted a while back, and/or where I can find it? Where was that drilled? TIA!
You're right on the mark with that first bit, Sabre. Not sure about the second...
He's deleting your posts because the overwhelming majority of them are worthless and yes, you're still an idiot.
Hey yo!!!!
They have no need to sell anything, gand. They feel they've won. If they do indeed win the vote, I truly hope they're trust has been justified.
One final rant to be ignored-
Yesterday they announced they wanted to begin to open the lines of communication a bit more. They tried, great. It didn't work out. Okay. Then OPEN THE LINES. USE THE WEBSITE, LUKE. Say, "Things went a bit haywire. Here's what we're doing about it. Sorry 'bout it. Our next scheduled webcast will be ..." Simple, sincere, respectable & respectful.
C- work for the boys. (Yes, I am a teacher.) Is it that they just can't do it - they don't know how? Or is it that they just don't give a rat's *ss? Would you want your surgeon doing work like this?
Some may find it petty or unimportant, but I would expect my management to be doing better work, in all arenas. And I believe a little thing like yesterday, half-*ssed as it was, tells a great deal about what we've got now and where we can improve. They just need some motivation. The window for our last chance to motivate is about to close.
C-... At least the grade is getting better. Yeah, I know, give it a rest. Heavens save us from an adjournment.
etats- I think you're absolutely right. I don't believe that they would have ever done this if they thought this vote was in the bag. What other motivation could they have?... that they want us to feel better about the thrashing our share price has taken? Why did they literally throw this thing together today? Are they doing it just because the vote closes in two days? Why did they do this today? Anyone?...
Okay, okay. Is this really going to change things today? Probably not. The for voters will say that hey, good effort, their opening up the lines; they're making an effort at least. I agree entirely, and am somewhat encouraged by the effort despite its result.
The against voters (me) say okay, why does management insist on promulgating this air of suspicion? Why must they take only questions about the 10q? Why must they announce this the day of? Why can't they just write or do one thing that does not look like they're afraid of losing the vote? They discussed JB's situation. That was good! What about the rest of it though? Put something in writing that really says the lock up shares will be locked up, or the private placement, or the key employee shares. Perhaps I'm overly suspicious. Perhaps my suspicion is justified. At this freaking point, I don't know a d*mn thing about much of this, but I know how it smells and it still smells bad. I'll send this one back to the kitchen and hope that the chef doesn't spit on its replacement.
Some may say that the against folks will never be satisfied, but I, speaking for myself, could be convinced. I could even change my vote to a yes over the next couple of days. Management knows this; they know it very well. They're going to have to come up with something better though.
I'll see how I feel when I hear the replay...
I wish it would say RS is dead...
good grief...
Hey - BTW, I resent that B-team remark (in spite of how accurate it may be). ;)
OT CTB- A kicker, eh? Honestly, I have a challenge getting through some of his stuff lately, maybe I've burned too many brain cells, or I've been hanging around the message boards too much. I like the quote though.
Just a few more days, man, I think we're going to make it...
"If we don't believe in freedom of expression for
people we despise, we don't believe in it at all."
-Noam Chomsky
Even when it concerns one's investments...
A repost from jacobboaz follows. Does anyone have any comment on this? It's not a big deal. Just the fact that the "lock up" shares may not be locked up. If someone posted regarding this, please point me to the message. If not, I think it really needs to be addressed. Help please. J5
"The Federal Securities Act of 1933 generally requires that stock and other securities must be registered with the Securities and Exchange Commission (the "S.E.C.") prior to their offer or sale. Registering securities with the S.E.C. can be expensive and time-consuming. This article offers a brief introduction to SEC Rule 144, which allows for the sale of restricted securities in limited quantities without requiring the securities to be registered."
Contractor: I am not an authority on SEC Regulations, but let me relate to you my findings relative to past issuances of shares by AMEP.
I copied the above from your link and as you can see, if shares are registered with the SEC prior to being issued then the sale of them is "not" restricted and rule 144 does not apply.
Then below I have pasted from page 13 of the 1st Qtr 10Q of 2006 the notification of the registering with the SEC of up to 333,333,333 shares to be available for issuance. Note that these were "free trading" shares since they were pre-registered. I also found similar registrations of shares to be issued in other 10K and 10Q. I did not have time to total up all such registrations but I did come up with over 400,000,000. I would hope that we could get the assurance in writing that this will not be repeated and that issued shares will in fact be restricted.
On July 24, 2005, the Company filed a Form 1-E pursuant to the Securities Act of 1933 notifying the SEC of the Company’s intent to sell up to $5,000,000 of the Company’s common stock at prices between $0.015 and $0.10 per share, or 50,000,000 and 333,333,333 shares, respectively. As a registered Investment Company under the Act, the Company is authorized to issue up to $5,000,000 in “free-trading” stock at prices ranging from $0.0015 to $0.10 per share.
As a result of the July 2005 1-E filing discussed above, through March 31, 2006, the Company has received $2,434,553 of proceeds from the offering, net of $193,967 of expenses, through the sale of 131,930,758 shares of the Company’s $0.001 par value common stock (See Note 7 - Commitments and Contingencies
well said. short & sweet. em
balloonman-
Insightful post. Thanks for that one. I wouldn't expect a reply in kind however. I still appreciate Hawk. He's keeping it all business - he always has - but as this goes on, his credibility is going the way of the boss's. I will fully admit that his DD was the one of the main factors for my investing in this company, and I always read and understood the "do your own DD" at the end of each post. I still think he was, and is, sincere, and I agree with you and Mr. D that he could have had a major influence in getting that better deal for all of us. My opinion.
Earlier I made talked about the issue respect vs. money. I started thinking about jobs I've had that I thought I had to keep just to keep the paycheck coming in. I don't know if anyone else has ever been in that situation - ha. I feel like I'm in a similar situation right now. I could use the money. I would like the money, but I don't want to compromise my integrity - what I feel is right and what we deserve for the scraps (however sizable) that will be left for us after this split. Sure this is a penny stock, sure there are risks, but I and many, many others invested in what we thought was a reliable, trustworthy company and a reliable, trustworty CEO. Hell, they came through the SEC cavity search clean! Despite the perma-bashers cries, and with hawk's and others' DD and Neld's charts we just knew we had a goldmine here with a reliable, trustworthy CEO. That's what's so painful about this whole thing. Many feel sh*t on, and the reliable, trustworthy CEO is at best, acting like he's got something to hide, and at worst, hiding some very bad things from us or some very good things that he won't reveal until he gets what he wants. He acts as if he doesn't care, or worse, he doesn't care.
Many of the for voters are content to ride the coattails. Give him what he wants and we'll get what we want. "Chamberlain waved his piece of paper in the air..." It may work out that way, but with our vote, at least we can make sure we can maintain a bit of leverage. Don't get me wrong. I want him to have everything he wants, and more. I also want him to do his job professionally, responsibly, and openly. We have a vote - for now...
Many of the for voters are doing so because they are concerned about what will happen if the RS fails. It's a legit concern and one that management has fostered. JB's $2M note... extended to Sept...?! The company will dissolve?! No alternative plans?!!! It's absolutely outrageous, irresponsible, and in my opinion, bordering on illegal.
I have a few versions of a letter that I probably will not send. I mulled over calling the CEO, but decided against it. I'm pretty sure that it would be more of the same that I got with Mr. Christopher a few weeks ago. I'm certain that I'd get the 'sell and move on' reply. That's a pretty easy way out if you can sleep with it. I don't want to sell and move on though. I want the company that I invested in - the one with the leases, the potential, the reliable, trustworthy CEO. I'm pretty sure he's still around, too. In a week, maybe he'll show up again.
Of course, this may be nothing you don't know or care about. I was on a roll and didn't want to start a new message. Thanks again for your thoughts. Joe5
You are correct, sir. Thank you. etats, too. em
Oh, to be on the outside looking in... waiting, salivating... I envy your position.
For many of us who have ridden this down, I don't think 'genius' would be the word we would use. Que sera!
It's just those kinds of holes that I want to see addressed/patched up before we can move ahead. To not address and repair is irresponsible. To allow the proposal to go ahead by ignoring them is equally so. These may or may not be small issues, but the lack of communication makes everything suspect. It does not have to be like this. Just my opinion, of course.
FFB-
You wrote: I feel if the R/S is handled in the right way reducing the float could in the longer term be a very smart move.. Handled poorly and we all are in for more pain...
Handled poorly? Is it impossible to see how poorly this has been handled already? How much lower does the share price need to go? How can the man in whom you are placing your trust sit idly by, ignore his fiduciary responsibilities, and remain silent as the stock drops daily. Regardless of what is causing it, it is the CEO of the company who is responsible for fixing it or at least attempting to do some damage control. Why is it? Is he merely inept? Is he too busy with other things? Does he just not care? He has a responsibility to the company and to us his co-owners of the company. He is not fulfilling it. Do I wish to replace him? No. Do I wish that this whole situation was presented more responsibly, with more foresight, with more concern for the shareholder, with fewer unanswered questions and gaping holes? Do I wish he would display more trustworthy traits instead of expecting us to trust blindly? Of course, and I don't think there is a person invested in this company that will not agree with me. If that is true, I still have a hard time understanding why people are not demanding him to "step it up" - demand that he show us why he is trustworthy; demand that he fill in the holes; demand that he communicate with us. This is not a lot to ask... demand... and I say demand because he knows we've been asking... and waiting...
The following is from my unsent letter to the CEO:
I can only ask you to be fair to us, your supporters. We have been with you for awhile, some for several years. Like you we have worked hard for our money and we have used this money to purchase a portion of this company. We deserve to know what’s happening. We deserve to know what is going on with our investment. I have some questions for you Mr. Bitters: Have you been saying that the company will dissolve if the RS is not approved? As a responsible CEO, why are you not looking at alternative measures? A reverse split is not the only means to get funds, why are you not attempting to obtain financing in a more shareholder friendly manner? We know you are determined to have this proposal to pass as is, and part of your MO is to deny that there are any alternatives. This is irresponsible and borders on dishonesty. Give us something real and fair to vote for. “My way or the highway” breeds contempt and bitterness, Mr. Bitters.
Is there anyone here who thinks that what we have been presented with is the only means by which the CEO could have raised the needed funds to "drill 24/7"? Anyone? Neld? (still waiting ;) Hawk? Someone who had spoken to Bitters recently mentioned that he has no alternate plans. He has no alternate plans - at least none he would care to discuss. Does he have plans to communicate better? We hope so. Does he have plans to not dilute massively? We hope so. Does he have plans to involve shareholders in company plans for the future? We hope so. You mention that many posters are losing what respect they once had with all the negtativity they constantly are posting. There are many issues involved here, but one of the biggest for me is respect. Would I rather have the money or would I rather be respected? What about you? Sure I'd love to have both, but if voted for this proposal, regardless of what happens post-split, I would never have both.
You wrote: Again not looking to cause any trouble.. It amazes me how so many feel that by constantly posting all the negativity on this board they feel they are helping the value of their investment.
Many feel already that the value of their investment has been severely compromised by the CEO. I think that's pretty obvious. Many feel distrustful, embittered (intended) and betrayed. This is one of the few outlets they have. God knows my wife doesn't want to hear about it anymore. If you want them to stop, call Bitters and tell him to get off the phone and communicate with us. He could stop this mess in a moment.
J5
PS- Will someone, anyone please comment on jacobboaz's message #31927. This is a big deal. C'mon you 'for' voters.
...with Sting...
shhh... can't talk... SEC... vote coming up... might stabilize share price... stabilizing wells... you know how tricky that is... could go on indefinitely... or just until after the vote... trust me.
Any of those against the RS interested in pursuing this?(posted by brownduckdog earlier today obviously before Freemarket's conversion):
Free...You have done a great service tabulating the voting. So thank you. Sadly I fear that the fix is in and the RS will pass. Planning for that eventuallity, I wonder how dificult it would be to organize the no voters on your list toward common collective action. In other words, would we not at that time benefit from a group discussion of future options in a secure forum. Specifically, I wonder if it would make sense to set up a conference call. And if that seems like a good idea, who on your list do you feel should moderate? Brownduckdog
Neld? Anyone? Bueller?
Post here or drop me an email jpaul93141@yahoo.com
freemkt-
You dirty, low-down, traitorous, son of a...
Just kidding, man. ha. Would definitely like to hear what you have to say. I'll try to give a call. J5
Neld- Right on, man. I'm sure there are many who would like to read it. We'll be here.
Neld-
Absotively. I look forward to it. Thx.
Neld-
This from your Jul 1 offering:
[i}CB can change the company's plan to one that gives him practically everything that he wants (potentially, plus more) while the shareholders get practically everything they want (potentially, plus more).
Would you give some details about such a plan or plans? Since we're all pretty much floundering here, perhaps you could give us a vision of some possibilities that we could use to refocus our skills of manifestation onto something more positive.
IMPORTANT for those against the RS or anyone who wants to get this mess over with soon -
I have been in touch with dr_sinecure who has expressed his concern regarding the possibility of an adjournment if the RS proposal is not passed on 8/17 (see post 30951).
In my ignorance, I asked him to explain further and this is what he sent me:
An adjournment proposal may be made by someone at the Special Meeting if there are not enough votes cast to constitute a quorum, or if the proposal does not receive enough votes to pass. Only the shareholders at the meeting who are voting their own shares, or are voting proxies, are entitled to vote on the adjournment. If the adjournment passes,it allows management to continue to solicit proxies until they do have enough votes to pass the proposal. Simply stated, it means that voting is not final until the proposal passes, or it fails and an adjournment proposal is also defeated at the meeting or at a subsequent meeting. Voting "no" on the proposal does not defeat it until the adjournment is also defeated. Gamblers call this a "stacked deck", I believe.
It seems likely that if the proposal fails at the first meeting, those opposed to it will need to have enough votes and proxies at the subsequent meeting(s) to defeat any adjournment proposal.
I am not seeking any proxies for the August meeting and I know of no one other than management now seeking proxies. However, if the proposal fails at that meeting, I think a campaign should be mounted for proxies from the "no" voters to vote against adjournment at the subsequent meeting.
Hopefully, then Mr. Bitters can come back with a more reasonable and shareholder -friendly plan.
Bill
What I infer from this is that this process could go on longer and more painfully than anyone wants, even if the RS doesn't pass this month. Since he will be at the meeting, Bill (dr_s) has provided me with an outline of a letter to write to him (along with a copy to the company), and regardless of how you vote, I highly suggest you write this letter if you think that the RS even has a chance of failing. In this way, we can expeditiously get beyond the issue of this proposal and on to something more equitable for all of us. I wrote another email to dr_s asking him if it would be a good idea to start getting letters together prior to this month's meeting. In this way, we would be sending the message that they shouldn't even attempt an adjournment proposal. I haven't heard back regarding this. What say you, dr_s?
If interested, please send me a private message with your email or just drop me a line at jpaul93141@yahoo.com and I'll forward the outline to you. I addressed this message to all voters because I know of no one who is in favor of the RS as proposed and if the proposal does not pass, I think that would be a pretty clear message to all that we need to move on. A vote against an adjournment will not allow management to continue with the current proposal. Of course if you think the RS is a "slam dunk" (thanks, GT), no worries then, eh?
Hey, that's the same street I live on up here...
You card. Now you've gone and made me use my last post.
Night all - till tomorrow. Sweet dreams to all about candy-coated compromises, revolutionary resolutions, compassion, generosity, honesty, understanding, patience, peace & love.
Anyone have the time of the meeting and the address for the ol' Best Western in Min Wells? TIA
freemkt-
Bob(59champs)on RB is voting his 2.5M shares for (#112774)