Stone Energy Corporation (SGY)

[dude iligence]

they are going to have a vote on how big a rs to have or perhaps all three. I get the feeling they don't have a clue which one to go with or what will happen when they rs this POS. Nor do they understand the ramifications of increasing the AS to 300mil and issuing more shares. SGY management took the advice from the law firm/consulting group that is not acting in the best interest of the shareholders or the company but maximum commission. The executives will be taken care off as well. $385 mil pile of cash can cause people to do lots of underhanded selfish things. I expect from the smell of this situation that a big chunk of that cash is headed into the pockets of SGY management. Why would they waste it on a oil company that is going to go POOF in this bust crude market that could last for years. Perhaps the rs and AS increase is nothing more than a smokescreen to get everyones attention deflected from the $385 mil while they manage to lose it. They could say they got drunk went to a strip club and lost it or at poker table. Or they could funnel it into some other company that they do business. I know a guy that was married for about 20 yrs was in the military, wife suggested he take the last tour in Europe so they could travel. Sold their house put the money in 6 month CDs went overseas 5.5 months later she came back to the states to visit relatives, cashed the CDs hid the money told her husband she was going to stay in the US then filled for divorce. He had over a yr before he would come back to the states. When he went to court she said she lost all the money at casinos and was too drunk at the time to remember where exactly. He retired she got half his retirement as well and the cash. Shareholders are going to get screwed just like this guy did.