sabregold, as I just posted on the RB board to weatherman, IMO R/S doesn't stand a chance of a 'snowball in hell' of passing with the current info we have. That is part of the puzzle, ...why did he even submit the PRE 14A, knowing that the BDC withdraw barely passed - and everyone wanted that to pass? So IMO it is clear that the R/S is dead on arrival as it stands - and yet they know it. So that has to make you wonder what he has in store to convince shareholders to pass a R/S, ...it better be a damn good reason,...or no pass.
I'm just trying to figure out why the board recommended the R/S and what may fit 'their' reasoning, ...not mine. That said, considering all the possibilities, it seems a private placement with the shares under the 144 lock up regulation is the only course that comes close to making sense.
I'm not going to get bent out of shape over it as it stands, ...cause it won't even come close to passing, especially with the A/S standing as is ...which makes me wonder what CB plans to give the shareholders as a reason to vote a R/S on themselves. Management does not have the votes as presented, ...not even close.
I won't even consider selling any shares until we hear what the Padgett #11 and #12 are producing; as well as the Nash-Murphy/ Mississippi Reef well.
Botton line, IMO this is going to be a profitable 'Oil and Gas Production Co' very soon, and the SP will reflect the new value of the company. I will still be here with my shares when that becomes news.
GLTY sabre,
...hawk
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