William Petty has slightly more than 203,000,000 common shares and 5,000,000 of the preferred shares.
Jaime had a total of a little more than 203,000,000 common shares in Dec 2006. In addition, he has 5,000,000 of the preferred shares. IF he sold off 35,000,000 shares (and I would like to see the documentation of filings that prove that...I looked and could not find it myself) it would represent 17% of his previous common stock holdings and would represent about $500,000-$750,000 in total proceeds depending on the average sale price per share in the Nov/Dec time frame.
With the report on projected revenues that came out a couple of weeks ago, it has become obvious that this company will not be much of a profit producer until a couple of years down the road. It is a LONG TERM investment...not something that is going to do much the rest of this year. Perhaps Jaime sold off a small percentage of his overall total holdings for financial needs through 2007, or to buy a house, or to buy a Ferrari or to get laid...who knows.
Bottom line, IF the rumored sales are true and accurate, he would still have 168,000,000 common shares leftover. Quite a sizeable chunk to prove up his belief in the future of this company.
Looks to me like the stock is a buy and accumulate anywhere below .02. The weak hands and panic sellers should be about puked out and a clotting of the bleeding looks imminent. Doubt it will do much more than go sideways between .03 and .06 the rest of this year, but looking for a test up to .10-.15 once actual revenues start to appear in early 2008 and a move up to .20 sometime later in 2008 or 2009 as they move forward on the GTL projects once financing is obtained.
This obviously is not a short term profit opportunity. I'm in it for the long haul...GO BIG or GO HOME. They've got the potential to go big...but it's gonna take a while to get there. Oh well. Caveat emptor.
