I agree, mrditbme.
However, I have a feeling this company could be a victim of it's previous corporate structure coupled with poor timing.
Let's face it. There are nearly 400,000,000 available shares, with less than 10,000,000 available. There are only some 400+ individual shareholders.
If you figure 450 shareholders at any one time, that's an average of 1 million shares per shareholder, not factoring in CB's holdings.
Here's the thing, though. I don't believe the average shareholder has 1 million shares. I only own ~200,000.
Sure, there's probably a few out there that own over 1 million, but I don't believe the average per shareholder is anywhere near that mark.
That means there's someone out there with a boat load of shares, and it wouldn't surprise me if it's a company looking for a take-over opportunity.
Consequently, I can surely understand the concern that CB may just see this company bought out from under him.
HOWEVER! I have yet to see evidence that, AMEP itself has working interest in the wells. Of course, if this information were disiminated from the company, it may compound the take-over problem.
The scenario remains: If you believe AMEP has a significant working interest in the existing wells, then maybe a R/S won't turn out so bad.
On the other hand, AMEP is still a penny stock, and typically there is more evil in penny land than good.
Coupled with that previous fact, reverse splits have traditionally been the sure-fire sign of a company with no product other than a share printing machine.
In short, I understand the take-over concern, but I want to see proof that if the R/S does happen, we'll have opportunity to get my money back...
All in my own opinion, and without information from the company....
-Slip
