Preferred owned 100% by insiders by means of llc w/ founder as majority holder and sitting as chairman.
The preferred didn't appear overnight either to purposely dilute shareholders like most OTC companies do.
It was a long process of several years when oil was at historic lows and done to save the company while avoiding a BK.
True, fully diluted company's worth approx. .35 pps but, you don't bring on wealthy industry experts and use personal money to payoff debt, create a revolving line of credit, and do internal restructure to break even and dump shares.
You do it because you know the company is now poised for exponential growth and their preferred positions are their investments.
This ain't a quick flip or over night rocket. Founder's last public company started off the same way and he sold it for just over a billion dollars.
Same deal with $ALYE, insiders own all of the debt and credit lines by means of preferred shares.
Current book value of commons is $1.95 with a long term pps target of a minimum of $3 which will make the company worth around $250 million fully diluted.
If someone doesn't have the money or patience to play this, then plenty of big bids waiting to get filled.
Also FWIW, the CFO has an open line of communication for all shareholders. She's a wonderful lady and very professional. I suggest anyone not sure of what this company is about, to give her a call or shoot her an email.
