Replies to post #20807 on American Energy Production Inc(fka AENP)

[ctb]

Of course we know that the absence of PRs for so long was confirmed at the shareholders meeting to be an SEC requirement. (Remember all the snarling & gnashing of teeth on that issue?)

More recently, Gandalf reported that even after the meeting "there is a ten day SEC review" and possibly a longer period before the "deal" was "done":

"The SEC/BDC issue...I believe that we haven't seen the end of the road on that deal...and yes, there is a ten day SEC review. He did not want to speculate on when that wouild be a done deal although 90-120 days he thought a "prudent" man's timeline (take that as you may)."

http://www.investorshub.com/boards/read_msg.asp?message_id=18220860

AND this regarding PRs:

"The word about PR's via JC was that the SEC is saying that it's fine to go ahead with PR's. They have been advised by their legal team NOT to do so."

http://www.investorshub.com/boards/read_msg.asp?Message_id=18221888&txt2find=sec

My take on it is that the legal team is playing it very conservatively for a reason. I wouldn't assume - as others have stated - that it is due to incompetence or laziness. Actually, I think CB would fire them if he suspected either incompetence or laziness.

I have a gut feeling that CB also wants every new event and headline - including PRs - to fall under the umbrella of the new company structure - and not under the old BDC structure.

If they file the N-54C in the next few days, that would make April THE MONTH.

I think that regardless what the attorneys are saying, once the N-54C is filed and reviewed (maybe another ten days for the review after the filing), CB will issue PRs. Period.