GEH, one reason that may fit "their" reasoning is plain and simple greed. You and others have put out many fine options and reasons for a RS, but "they" missed all of them in their explanations.
In looking back over your old posts I noticed you were correcting a poster that claimed the O/S were close to the max and you stated you believed it was closer to 350 million, with a disclaimer that the next filing would show the true numbers. I don't remember what the next filing showed, but the board and CB have used up all available shares now. Giving them the benefit of a doubt, maybe they used them all very wisely, but many of those, including yourself, that have made trips down there or phone calls have been stating that the wells should be online and producing for months. The company has given us very little information. What they have given us doesn't prove anything as far as revenues.
The salary raise and the claims of high living (unverified, do you know anything about that?) are huge red flags to me when thinking about giving this group access to more shares to dilute my position.
I agree this doesn't stand a chance of passing as things stand now, but this constant "well maybe they will do this or that" justification for a RS looks like damage control and just plain hope on the part of longs.
IMO the damage is done as far as holding our share price and this cloud will be hanging over us for a long time. I can't see anyone who is not in love with this stock buying more at this time. Just to continue holding it through the next several weeks or months, without some good revenue numbers to prove they are in fact doing what so many claim, would be very scary.
An exercise I try to do with penny stocks is look at them as if I was a brand new buyer. Would I buy this stock now looking the msg boards, filings, and other DD? Without a doubt there is some awesome potential here, but there are a lot of stocks out there with awesome potential. Looking at AMEP right now, today, especially after Friday's filing, I would have to pass. May miss a big one, but how long will I have dead money sitting in there waiting? That is what bothers me. The current longs may buy more, but for the most part they are loaded up and without new buyers and huge news, I can't see where the support will come from to hold this price, let alone make a big run.
Will the huge news come? Or more importantly, WHEN will it come? Most of us have already been waiting, with dead money, for well over a year. Are we closer? We should be, but every day we wait and every share the company sells, diluting our holdings, make it harder to run and sustain any kind of gain.
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