Replies to post #121 on Alpine Air Express, Inc.(fka APNX)

[ThomasOMatic]

I Took a small position last week as well, based on eztradin's email... GLTA!

T!

[vascodegama]

I haven't looked further into their historical and present share structure. Anyone else look into this?

My questions would be what the preferred stock voting power, dividend, and conversion to common stock look like?

Aside from this, it does look cheap. GLTA. Do your DD.

From Reuters (May '07)...

Alpine Air Express Inc. Amends 2006 10KSB and 2007 10QSB
Friday, 25 May 2007 09:00am EDT

Alpine Air Express Inc. announced that it has elected to amend its most recent 10QSB Quarterly and the 2006 10KSB Annual Reports. Upon current review of accounting standards and interpretations, management has determined to change its accounting treatment of the preferred stock issued by its subsidiary. The preferred stock which has previously been disclosed as part of stockholders' equity is now reclassified outside of equity as a mezzanine item on the balance sheet. Further, the dividends on preferred stock which previously were deducted from Net Income to arrive at Income Available to common stockholders, has been reclassified as an expense to arrive at Net Income. The Company's classification change for its preferred stock also requires a slight adjustment in the treatment of the preferred stock dividends, which will reduce Alpine's reported Net Income. However, although the classification change reduced the Company's reported quarterly and annual net income, their previously reported positions on cash, total assets, earnings per share, and EBITDA remain unchanged.