American Energy Production Inc(fka AENP)

[ctb]

"he will have control..selling them (if he could) would relinquish that control. He will controll all stock holder votes for as long as HE wants."

This is what you get out of it? The CEO will have control? OH MY God. How does he have control - he can't do anything with the shares for two years - then it will take him 8 more years to sell if he wanted to.


A) If he was to convert all of the shares, (and he could do it the day after the split - if he wanted to) - then they would become 144 restricted locked-up shares. The waiting period would be would be two years before he could sell any of them. TWO YEARS.

This is according to SEC rules dealing with members of any BOD, according to CB.

B) As an officer of a company and member of a BOD, he is then further restricted to selling no more than 1% every 90 days. So it would take 8 years or so.

He said to check the SEC rules governing what officers of companies and members of BODs are allowed to do