Okay, a few things.
Reverse stock split: You have to be trading to even do this. Currently Petro has about 12B shares, more than just about every other public company out there. While normally not great, in Petros case it would actually be good, it would INCREASE the price, not dilute it. Half the shares, but at twice the price.
IPO: Waaaayyyy more expensive than a reverse merger. The other thing is, if Petro cannot afford its current operation expenses, how would they pay a firm to take them public? At least he admitted the stock won't be trading in the near future. An IPO calls for VERY stringent reporting, FOR ABOUT A YEAR at least BEFORE you can go public.
Heyyyyyyy, I thought he'd already submitted the paperwork for the symbol?????? I know, right?
Working on the 2010 annual report? 2010? Really? In August..... of 2010?
Oh yeah, PRIVATE companies are not beholden to the SEC for a public relations department, and full disclosure. Isn't that why everyone's soooo super secretive about the information to begin with?
One more thing, Owen? I'm sure you guys read this stuff, so either look up the SEC rules, or get someone that can read the SEC rules, because right now it just sounds like you're making it up as you go along.
