American International Petroleum Corp Message Board

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Gold/Mining/Energy : American International Petroleum Corp

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To: DRRISK who wrote (6523)	1/7/1998 5:41:00 PM
From: Laserbones	Read Replies (2) of 11888

I was considering all possible sources not just the Hunts. If I'm not mistaken, there are a few other companies/entities holding onto convertible notes/warrants. Have all warrants on all acquisitions dealings been accounted for? There was this: "Furthermore the company said it is currently negotiating with a major US investment banking firm to obtain non-equity financing to repay the 8% Debentures and to fund its continuing operations in Kasakstan and Louisiana. The company felt it advisable at this time to bolster it balance sheet with this interim financing while negotiating with both the Kazakstan and the Venezuelan governments." You are considering this as part of the reworking with the Hunts. Notice how the terms moved fro 8% to 14%--ouch! But here's what I may have missed buried in my folder: "The company said that during 1997 it has redeemed in cash certain debentures which would have been converitble into approximately seven million shares of the Company's common stock." I looked through the SEC documents and there still seems to be other convertible notes/warrants out there available to hit the market as soon as any major news does get announced. Do I think it's so bad that I'm selling? No, but it's the type of situation that has hurt small companies in the past. My opinion on the matter is aipn must be confident with its position in the near future--say 1-4 months. They are going to need a serious infusion of cash to make good on their licensing agreement with Kasakstan for exploration and development of their concession. I don't want to consider additional institutional financing to raise this kind of cash. The refinery is nice, but it's going to need to support itself also. Greg

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