Some more DD ....
jagman, the taxes were not from any AMEP operations, they are from the old shell company that AMEP bought. They can negotiate with IRS for a lesser amount, ...which I believe is being done. You think a $61,297 bill is going to stop AMEP??? They had approximately $2 million in revenues, I think they could pay that, ...but why not pay a lesser amount for someone elses failure to pay their tax bill, ...if IRS agrees? Just good business sense IMO. Mr Bitters is a sharp businessman, and I have been around more than my share of CEOs. I like his business sense and philosophy, for example his not being in debt on a start up. Watch him make this company grow, ...wait, he already is doing that! AMEP has recently acquired TWO drilling rigs. Watch for more growth and progress, as he makes AMEP more than just profitable early this year. Watch the SP do a "Multi-Bagger" again this year, far surpassing last years 308 percent SP gain, as Mr Bitters grows AMEP in profitable and multiple ways.
I know a little about this, because I talked to them about it, ...face to face. Two trips to the company yields real DD, …not shallow DD from a faceless basher pecking doubts and fear on his keyboard.
Now this one I like even better:
"$3,500 in equipment rental per month for the use of the Company’s president’s personal pickup truck, car, pulling unit, winch truck, backhoe and water truck used in the field operations."
First of all, the equipment list today is much more than this short list above, and I have the photos to back it up. Secondly, I will take just one item from this list, the "pulling unit", the monthly retail rent on that alone would probably be close to $3,500 for a months use. How about the monthly rent on a "big backhoe"??? Check it out, call a rental place in the Ft Worth area for rates. Dang, I got 'ya again. While your calling, check out the monthly fee for a "winch truck", wow, that's high. Zing ...another score for AMEP. "Water truck" rental fees per month, ouch! thats high as hell too! Monthly rental on a big pick-up has to be added to all of that ...Holy Krap!!! that is a BIG total already, ...and there is more. Compared to what most other CEOs of start-ups would charge for all this equipment, ...this is a big bargain for AMEP shareholders, and a significant discount to retail rent fees for all this equipment...by a mile. Thanks for bringing this positive item for AMEP up ;>)
Lastly this item on your failed bash list:
Yes, AMEP is a Business Development Company (BDC). jagman, you have repeatedly shown that you cannot grasp the basic concept and structure of a BDC. So many other longs have posted good DD here on BDCs time after time, ...yet it goes right over your head, I don't know if your slow, or are doing it as a way to avoid the truth. Once again, a BDC is valued by the collective net asset values of all the wholly owned investees. You also don't acknowledge the fact that the wholly owned investees were bought with AMEP 144 lock-up shares. Who wants the company to succeed and the SP go up?? ...it is the AMEP wholly owned investees, they are holding AMEP shares for their company. No one wants AMEP to succeed, and push the SP ever higher than the very folks that are working their butts off to make this company profitable ...this year, it is the collective investees. So your BDC bash is an obvious failure too. BTW, watch what happens to the SP after AMEP has all of it's wholly owned investees assets evaluated by an independent auditor this year, likely early in the year IMO, and per several post from folks who has talked to AMEP about the NAV. I am, expecting the 'Net Asset Value' to increase by a multiple, and a BDCs SP is valued by the NAV to a significant degree ...you can figure what that does to the SP if the NAV increases by a multiple, ...can't you?
I hope you learned a little here jagman, ...I will be around to help you out if you stumble again. BTW, do you ever do you own 'thorough DD', like the AMEP longs here do???
Oh, that's right, ...you have NO POSITION. You really don't count, as you have to put YOUR MONEY on the line, long or short, to have a meaningful interest in any stock ...if not it is just Blah, blah ...blah, ...bash-bash-bash.
GLTY jagman, except for your silly and shallow stock bashes.
...greeneyedhawk
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