Some players that have been reading the Q need some answers, ie me. Palmer can't just toss out #'s without making them public and telling a few I-Hubers that spread the word is not the correct way. This is a LOI, so Palmer doesn't have the AVWI stock yet so they are not selling. So who is? Probably promoters from the past and/or present and the officers and directors that have 748 million shares. They obviously are going to sell into strength. The multiple 500K block sells bug me: like how many are left and who is doing it? I don't suspect the shorting thorey.
I find this interesting:
March 31,
2008
Common Stock, Authorized 1,000,000,000 Shares, $0.001 Par Value, 230,847,739 Shares Issued and Outstanding . Someone mentioned 5 Billion as the current OS, but I did not see it. The company does need more stcock but there are only 2 ways I know of to make that happen: just flat out increase the OS when they want. A RS will free up shares. Hope not!
As of May 9, 2008, the issuer had 330,847,746 shares of its common stock issued and outstanding.
100,000,000 of the 748 million shares owed to certain officers and directors has been paid in 5 weeks. Now that leaves 648,000,000 to shell out "under a court ordered issuance of 748 million shares of common stock." 748 + 330 = 1,000,000,000 + and what is the current float???
Another Q excerpt:"
On April 29, 2008, the Company executed a Letter of Intent with Jim Palmer Trucking, Inc. (“JPT”), a larger freight trucking company located in Missoula, Montana, pursuant to which the Company agreed that JPT would become the successor issuer for reporting purposes. In connection with the Letter of Intent, the Company agreed to loan JPT $250,000 which will be forgiven at closing or, in the event the merger fails to consummate, will be repaid together with interest accruing at 8% per annum.
Money has already been exchanged like AERP. Why does Palmer needs $250K now and how much more when? Are CD's going to appear like FCCN & GRXI? Anyone with some feedback would be appreciated!
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