Replies to post #670 on Dover Petroleum Corp (fka DVPC)

[westeffer]

Who says I didn't ask him? He has created a debt with the company in terms of a note with no dilution or preferred shares. Name one CEO that has put this kind of money in a shareholder participating O&G play with no dilution.

[BonelessCat]

If the CEO, or anyone for that matter, put in $10 million of his own money, then that becomes a part of the longterm debt. That's normal business and I don't see a need to raise that particular question at this juncture. That would only become an issue, "How does the CEO get repaid his $10mm now?", if the business plan falters. The CEO can't simply put in money and issue himself shares, because that money would come under Rule 504 and is limited to $1mm per year, and would trigger a REGDEX filing. That's how I'm certain the money is part of the longterm debt to be repaid through profits.

Currently, the business plan is in process. There are several projects in development with the best short term potential being the project with NFEI. Should the venture prove profitable, the CEO will have first crack at being repaid a paltry $10 or 11 or 12 million. Should profits not materialize... well if that happens, I won't be here, so that eventuality is simply part of the risk in Pennyland.