AvenEx Energy Corp AVNDF

RE: RE: RE: RE: RE: Merger , the smart choice

[Kingscourt]

Joe, I did a little digging and it seems to me that Pace records it's companies wages under G&A in capital expenditures for a total of $6.4m. AvenEx's appears to be under general & administrative under expenses for a total of $18.5m.(2011 year end totals) I won't bother with Chargers's because they only formed last year and havnt released totals. Most of them would still have to be paid under Spyglass anyway. Those numbers total $25m and only a portion of that total would go to the executive wages.  Most other employees would still be paid to run everyday operations. For sake of argument let's say that half that total went to execs. That's $12.5m of potential savings. Pace is losing $154m a year. While $12.5m is a significant sum, it isn't going to help us out a whole lot in the big picture. Please keep in mind I am neither a CA, or a CFA. These are just my best attempts to interpret their balance sheets. If anyone has a better handle on these numbers, feel free to correct me.