American Overseas Group Ltd. (AOREF)

[rmanton]

This Board has been inactive yet this is one of the most exciting investment opportunities I have experienced.

Small float, about $8MM shares as insiders own 69% and largest insider could thru one of its affiliates buy out the company.

Also last company reports indicate "winding down." Latest BV was $2.85 and there are several scenarios that could impact that such as buying pfd at a discount to par and commuting outstanding insurance obligations at a reduced level to exposure.

The two principal officers, both very large shareholders, have tendered their resignations effective May 14th. There have been significant changes in the number of directors and composition of the Board. Counsel resigned Fall of last year. Company issued a statement a while back that they would make a statement on May 6th. So lots happening.

My personal belief is distirbution of BV to common and sale of "shell" with its licenses to sell re-insurance intact to one of the larger insiders.

Shares have been creeping up to new support levels since $.11.

Anybody out there interested can also look at the Yahoo Board which is more current and active.