Say Goodbye to BDC Status by ThurAug31, Amep will launch a new website leaving BDC status behind and start putting out PR Updates (Speculation on my Part) Long on Amep and Big Vote of Confidence to CB
Two good Speculating posts on RB
By: chriscrash20 22 Aug 2006, 09:52 AM EDT Msg. 89614 of 89727
Good Morning all! Have not posted in a long time but I read the board on a regular basis. I spoke to JC yesterday and he said that the web site should be up some time next week. Just speculation on my part but maybe they will address the BDC situation at that time
By: dede39322 Aug 2006, 08:42 AM EDTMsg. 89609 of 89728
NO PR, here is why, my opinion
Having worked for the government as an accountant and in the policy arena, my experience gives me a bit of insight.
Here is a quick summary:
1. AMEP accounting does not meet standards required for BDC.
2. SEC investigates accounting practices.
3. SEC recommends NO OVERT activities as purported BDC because it would be a violation of law. (Possible Website Violation? So a new website means no BDC??)
4. AMEP follows SEC recommendations.
Here is the interpretation. Because the accounting problems are through a failure to understand the requirements for a BDC and not deliberate misrepresentations of facts, SEC is allowing AMEP to continue business but without the PRs. The reason that there are no PRs related to progress is because it is misleading to represent AMEP as a BDC. Hence, PRs would be considered a deliberate attempt at misleading and could be legally actionable.
I don't think there will be any PRs other than those related to reorganization.
Having said that, I also believe that AMEP is a viable O&G company.
This is all my opinion.
