I figure the OS will probably be up another 100 million shares by the next filling for the drilling rig, crews, etc....unless the private investors and the "investees" pick up the tab. It would be nice if AMEP let the shareholders know where the money is coming from (in a PR or filing, not off-the-record phone calls to management that can be denied later). 100 million shares would have been easy to dump in the daily volumes....and pick up an easy $3-5 million. Easy to hide finances in a BDC much like the big boys hide a lot with offshore companies, IMO.
On February 22, 2005, the Company’s Board of Directors determined that it was in the best interest of the Company to discontinue the offering discussed above and to investigate other financing alternatives. Accordingly, the Company filed a Form 2-E pursuant to the Securities Act of 1933 notifying the SEC of the Company’s termination of the offering. The Form 2-E filing discloses that the Company received $1,820,000 of proceeds from the offering, net of $30,000 of expenses, through the sale of 171,000,000 shares of the Company’s $0.001 par value common stock.
The Company is in the process of exploring financing sources but has not obtained any definitive commitments as of the date of these financial statements. As a result, we cannot provide assurance that we will have sufficient resources to cover our working capital requirements for the next twelve months.
Cash is King until further notice!!!
My comments on companies are usually my opinion of long term success (years). The PPS may go up or down greatly in the meantime depending on the number of greedy suckers with money.
