Replies to post #133387 on Alternative Energy Partners Inc (AEGY)

[WHITTENHALLJR]

I agree if it we're that easy to wipe out existing shareholders it would happen all the time... Good one glow but NO! The Canada merger would not allow that silliness in there yard!!

[I-Glow]

I haven't seen anything like this before.

Here is what I think has happened and what is going to happen.

Alternative Energy Partners incorporated in British Columbia as a private company.

And if there is a merger between Haltain it will be with the new BC Alternative Energy - not AEGY.

Then iEquity can say they never received payment for Pharmajanes and simpleprepay and the new Haltain company will purchase them from iEquity.

AEGY will still exist but they will let it die a long slow death - no more filings - no press releases and at some time shareholders will move on to something.

And yes it certainly is fraud.

The Haltain document doesn't mention anything about AEGY shareholders.

Here is part of the document:

Should the Proposed ALTERNATIVE Acquisition be completed as currently contemplated, it is anticipated that the Haltain Shareholders will benefit as a result of their 100% interest in 707.

Pursuant to the Arrangement, Haltain will transfer to 707 all of Haltain's interest in the ALTERNATIVE LOI and $1,000 in cash in exchange for 30,253,667 707 Shares multiplied by the Conversion Factor, which shares will be distributed to the Haltain Shareholders who hold Haltain Shares on the Share Distribution Record Date.

I guess we shall see what is going to happen - but this one is new to me.

You wrote:

IG, they clearly can't just start up a company with the same name and run Pharmajanes under that company without some kind of recompense to the existing US AEGY shareholders. That would be an obvious fraud and if that was the intent, it would have made much more sense to just restart under a different name with a different trading entity.

It is a company with the same name but incorporated in Canada.

I agree and it seems very odd to use the same name.

IG