Alaska Pacific Energy Corp. (OTC Pink: ASKE) published a message from its President, Dominick Falso. Mr. Falso said, "I have been receiving a lot of telephone calls expressing concern over a few specific issues. I simply do not have the time to answer each call and/or email personally, so I will address the issues here. Many people are concerned about the price of the stock. Of course, it is important to all of us. A lot of the calls and emails are expressing concern as well over the raised authorized shares and the additional shares that have been issued. I have also received some telephone calls, messages and emails that presume the company is selling stock into the market.
"I would like to cover these three issues and some more issues that I consider to be more exciting. In reverse order, the company does not sell stock. We cannot sell stock. The insiders cannot sell stock nor would we. Any stock that is being sold is in response to market pressures. If you look carefully, you will see most of the stock that has been traded has been people buying the stock on the ask or the offer. That is good for us. That is people showing confidence and I appreciate that.
"Now, there is some stock that has been issued to retire some debt. These creditors have converted some debt into stock and they are interested in the company's welfare and have promised to not tank the stock. And regarding the first point I brought up... the price per share... of course we would all like to see as high of a share price as possible. I believe that as the company continues to build a solid foundation, the public will recognize the value and the price of the stock should rise; organically. I do not know of any magic bullet here.
"We are very excited about the opportunities that I have been looking at in the oil industry. As you know, I have been talking with people in regard to the Eagle Ford Shale opportunities. This is about the biggest thing that has hit Texas in about 20 some years. It just makes since for us to be a part of it. We have also looked at some opportunities in Kansas, Colorado, other parts of Texas and Oklahoma.
"It's easy to look at these deals but it's another thing to get the funding for them. Now, one of our original intentions was to find partners that would be willing to accept restricted stock. The theory being that we could get the money from the partners to fund the project. The restricted stock could not and would not be sold for one year from the date that it is issued. We would have that year to turn the project into a profit. At that point, the partner who funded the deal could have stock, but it would not make sense for him or her to sell the stock at a discount. But rather to either hold the stock, borrow against it from a responsible lender, or if he or she did sell it, sell it at a responsible pace. Optimally the company could buy the stock back with profits from the project. That is still an opportunity that we are exploring. We have found a couple of deals that should be able to work this way... properties that appear to be worth developing.
"However, we have also initiated relationships with funders that would rather receive a piece of the project instead of pieces of the company. This type of funding does not put additional stock into the market and appears to be much better for the company. We feel that if we continue to work at this, we should be able to put a deal together. There is still lot of work to do.
"Up until now I have done a lot of the work myself. I have a few consultants that are working on the 'if come.' The idea here is to populate our Board of Directors with men or women that have a proven track record in business, preferably the oil and gas industry. However, before putting them on the Board, I am watching them work on a consulting basis. I will identify them as soon as it makes sense and I get permission to do so. So we are still in the building stages, if you will, from that stand point... rebuilding the foundation of our company. This is a genuine company with a genuine set of goals to develop properties... one way or the other.
"The other thing that I wanted to talk about is the phone calls that I have been receiving regarding whether or not we are going to do a reverse split on the stock. That was something that was looked at when the company was taken over. However, the public has responded very favorably to the management change and it was has been decided that a reverse is not necessary. It is not the company's intention to forsake it current shareholders... the men, woman and institutions that helped grow the company get to where it is today... whether that is good or bad... where we found it.
"Regarding that, there were several 504 offerings made before I became president. I have no intention of raising money that way. In my opinion, 504's usually kill the price per share. Regardless of what our predecessor might have done, we are interested in developing the company and trying to create an increased shareholder value. We are very excited about what is going on. We are working very hard. I just thought I would keep you folks up to date. Talk again soon."
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
Alaska Pacific Energy Corp.
www.alaskapacificenergy.com -web site not yet up to date.
SOURCE: Alaska Pacific Energy Corp.