American Energy Production Inc(fka AENP)

[tharmon51]

Question for help in clarifying.

The DEF says "Though the Preferred Stock is entitled, by its terms, to elect two directors, Mr. Bitters, as the sole holder of the Preferred Stock, has declined to exercise that entitlement. Therefore, the Common Stock is the only class of securities of the Company entitled to vote at the Special Meeting." Does this mean that CB would have beeen able to vote his 3.5 million preferred shares if he would have chosen to elect the two directors he was allowed? I think someone recently may have posted the link to the filing establishing the preferred shares, but I don't remember who and haven't found it.

btw: Why didn't CB elect his own directors if his principle motivation is to take over the company? Wouldn't that have made submitting the R/S proposal a slam dunk without relying on the judgement of the other two elected directors.