As a company, with public reporting and updates, I think 88 Energy has done great overall. They are building their companies and making smart, calculated, strategic moves. More like a blue chip.
I am talking about the public trading side of the equation. I think they probably assume (as most companies do) that the American markets are safe and regulated and fair and all of that is on auto-pilot. they do not seem to understand the corrupt nature of naked shorting & shorting thru hedge funds offshore or market makers trading amongst themselves.
And with over 12.5 billion O/S, it is a bloated mess ripe for fraud, FTD's, unaccounted-for shares being sold on a massive scale, literally a black market.
I think they should do a 1:1 share cert exchange and cusip change to immediately audit their share structure. A 1:1 accounting of every share. It would be a huge message to the shareholders that EVERY SINGLE share they own is legit & accounted for, is not a faked electronic entry in your brokerage account, but is bonafide legit. And most important, that there are not BILLIONS of shares being bought & sold that DO NOT EXIST (as far as accounting/ledger/company treasury totals are concerned.)
Imagine 88 Energy doing a 1:1 share cert exchange for the purposes of showing their shareholders absolute & total commitment to share structure integrity & accountability. HUGE effect immediately. And not all that hard or expensive. We need, THEY NEED, to know where every share is. I call that not a luxury option, but their fiduciary responsibility, especially given how many shares they chose to issue (which is a magnet for counterfeiting & corruption).
This needs to be done. It should be done. Let's not talk about it, let's do it.
IMHO
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