Replies to post #30452 on American Energy Production Inc(fka AENP)

[sillyunclekarl]

Thanks for your response;

As you found in the 2004 filing, it states;
"There are no liquidation rights or preferences to Series A, preferred stock holders as compared to any other class of stock."

So, after the R/S passes,, CB can convert his preferred into common, and then his liquidation rights will be the same as common.

He will be limited as to how much he can sell on the open market (if he chooses to). But, in the event of a sale of the company, he will get paid for every single share he owns. Today (pre-R/S) that's 2,843,846 + 10,500,000 = 13,343,848 shares. (per the public filings) If the R/S passes he owns (post-conversion) 263 million shares (35% of AMEP)

For the record, I don't think he'll sell the company. I think there's huge value here, that's why I'm long.

I'm just trying to protect the value of my investment. I see the option of voting no, and then selling the company to the highest bidder as a good one to explore.