Alternative Energy (fka AENS)

[coin_in_fountain]

I'm not sure how accurate the Yahoo statistics are, but this is what they say:

http://finance.yahoo.com/q/ks?s=AENS.OB

Shares Outstanding 40.5 M

Insiders (22.5M):

Beemer: 7.9M
Stinson: 7.0 M
Blank: 5.1M
Gage: 2.3 M
Ward: .2M

Again, I can't speak for the accuracy of these numbers, but it looks like the insiders own roughly 55% of the outstanding.

So I don't understand the statement in the PR that says "Approximately 45% of the outstanding shares of the Company have been voted and over 95% of the votes cast have been voted for approval of each of the Proposals."

It seems to me like these guys have enough shares to do whatever the heck they want. I doubt if there is a disagreement within the company over the new proposals, or is something like that really possible? The last thing in the world we need is to have a situation in which the execs disagree on the future direction of the company.

The only other thing I can think of is that there are more outstanding shares out there than reported by Yahoo. But if that was true, that implies that very few of the shareholders outside of the company have voted. That isn't hard to imagine, and seems like the most likely scenario to me, especially the relatively poor case that was made for these proposals.

But again - I don't really know what's going on here. It's a real mystery why they can't get enough votes to conduct business when the insiders seem to own more than half the company. An internal power struggle for such a small company would really concern me. I pray that isn't the case here.