lars,
Your English is great, certainly better than my Norwegian. What we are trying to understand is the role AJ Balfour Group is playing in the sale of PPTL stock. One of the “newbie investors”, as he called himself, said he purchased stock from his Broker who just started with AJ Balfour Group out of Florida. I looked the AJ Balfour Group up on the Internet and they appear to be a small investment group that has been in business for 4 years (i.e., legitimate Company). I searched at least 300 pages on the Internet using different search engines and I did not find any connection to any SPAM campaigns and the AJ Balfour group. Again, this leads me to believe they are not engaging in any pump and dump campaign.
What we do not understand is who’s shares AJ Balfour is selling. Are they just buying and reselling shares at a significant premium to the Customers/Investors? If so, what are they basing their projected share price increase on? Do they have information we don’t or are they just speculating? That is what we want the newbie (tree18) to find out from his Broker at AJ Balfour who sold him the stock. I sent an e-mail to AJ Balfour asking these questions, but they have not responded.
I think the idea that Company (Premium Petroleum) was raising money through the sale of its stock using AJ Balfour was flawed. The reason being that the Company would need to sell 500M shares at the $0.01 price (what tree18 paid for the stock) to raise the $5M the capitalization that Company is seeking. Since PPTL only has about 900M shares total, it would mean giving up more than half of the Company’s stock. Even if the stock was not Common Stock (voting shares) it would still mean a significant amount of the Company’s stock sold to support the $5M funding requirement. I personally believe that would be far too dilutive for Bruce to take.
So, that brings us back to what AJ Balfour Group is doing. Why would they choose PPTL stock to resell? What is in it for them other than the selling the stock to their clients at a significant mark up? Where are they getting the stock they are selling? Have they been purchasing the stock themselves and are now unloading? Again, too many unanswered questions to get a clear picture of what is going on.
As for you second question, please call Bruce weekly to see how things are progressing. That is what I have asked everyone on the board to do. We need to keep the pressure on him to get the PR out and get us some disclosure. In addition, you will want to ask him if PPTL has a business arrangement with AJ Balfour to sell PPTL stock to AJ Balfour Clients/Investors in order to raise capital for Premium Petroleum. If he says yes, then press him for details on the arrangement (i.e., number of shares to sell, at what price, over what time period).
Best regards,
Greg
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