Tesla business law 101, a public company can go private when the majority owners or primary stakeholders decide that there are no longer significant benefits to be operating as a public company. Converting from public into privatization takes several routes - company's management purchases out the public shareholders and take the company private (a management buyout), today it will take Floyd maximum about $700,000 to do it. Or the other route a company or individual makes a tender offer to buy majority or all of the company's stock. The most difficult part is convincing the majority of common shareholders to votE for privatization. So here is the scenario, let's say Floyd is using cash and makes good on his promise and makes all wells operational and they are generating revenues. Here is the key or the most negative impact of this structure-he doesn't have to convince shareholders to vote FLOYD IS THE VOTE, just like he increases ISs, Petron by-laws would allow that conversion since he owns the majority of all categories of shares. All he needs a loan to buy out 49% of the remaining shares and it will take as I said under today's share price and OSs about 700Ks to buy out everybody, Again, the beauty of it-he doesn't have to convince anybody on the benefits of going private, he owns the votes and the company, all he needs some debt. AND HERE IS THE TRICK THE LOWER THE SHARE PRICE, THE LESS HE HAS TO BORROW TO BUY OUT 49%. Very simple. I am surprised you don't know that. Oh by the way Tesla except some descriptive links about the Co2 or fracking did you provide any links verifying Floyd's claims. IMO
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