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News? Anyone?
Does any one know when the next quarter report is due?
An interview is not a binding contract. Period. The facts will be what has been agreed upon by both parties through a signed contract. Pay special attention when it is released. I only wanted to illustrate based on the proposed contract in the S1.
Cpus can hold 4.99% of outstanding shares before being required to dump. At current level of outstanding shares thats about 35million which is just under $60K.
At current share prices the company would have to issue around 10bil shares to recieve the full $10mil. At current share price... Being that we are already sitting at 700mil shares and only 1bil are authorized... I just dont see things working out. An increase in authorized shares to me would be a clear indicator of further dilution and drop in share price.
Thanks for posting the S1 details Note.
Why do you keep quoting this?
So the bakken falls through. But we'll have texas up on monday?
Is there supposed to be an update next week?
Feels like everyone is holding their breath.
About The S1. Is this type of financing based on the issuance of new shares? I feel loke I can swing trade myself into a better position givin current conditions. But dilution is really killing us here.
You know. I didn't ask. Call him up. I sold.
The S1 is for the funding of operations and aquisitions. The bakken was a seperate deal. Icing on the cake.
The collateral for the S-1 is their assets. The pipeline and existing wells/leases. Thats my assumtion. Rick said the S-1's collateral was not based on the bakken.
I spoke with Rick from Investor Relations. (727-491-3911) If you would like to speak with him.
I asked if he could elaborate at all on the Bakken Shale deal. Basically their lawyer team found that Phoenix Energy did not in fact own a 5% interest in the bakken. It was less. Rick was not able to tell me how much less it was. He did say that the bakken deal would have been a minor contributor to their revenue stream. Only $10-12K earnings per month, which is small in the bigger picture of things. I feel like they took away that proverbial carrot on the stick and the falling through of this deal is a huge blow to my morale.
In regards to the S1: The SEC is still reviewing the S-1. It can take up to 90 days. He could not give me an exact time frame. Rick also said that S-1 Reviews take 90 days and that the SEC has been known to wait until day 89 in the past. Sooo February time frame? We don’t know. The S-1 financing will be used for expanding operations and acquisition of more leases… Me personally it sounds like more dilution on the horizon with no guarantees of revenue. With that being said there were notable increases in production on the Edwards lease as noted on the 15 Jan PR.
Rick had no update on the operations in Texas. They will come back online as soon as they are able.
Bottom line: It seemed like Rick felt the value in dollars earned from this Bakken deal would have been negligible. I personally feel like I have been taken for a ride. I’m going to sell my position today. I hope to see you all in the .001’s where I’ll double down. (Then again… it’s penny land… I guess anything could happen. )
Outstanding Shares as of 1/27/2014
701,162,036
It's on their website.
Outstanding Shares as of 1/27/2014
701,162,036
From their website.
I just want to say congrats to all the longs here. I'm sure this recent jump in price has changed many lives here. GL everyone.
Thank you
Thanks. It used to have him on the insider roster with around 40mil shares. Oh well. I guess it doesn't matter when he's holding prefferred share majority.
What happened with Smith's position?
http://finance.yahoo.com/q/mh?s=PEII+Major+Holders
Sorry to pick a stupid point to prove omne. I really do love your enthusiasm for this stock. However, your arguements can be a little week sometimes.
Lol. Good luck everyone. I can't wait to see what the rest of the month brings us.
Thank you Wise Guy for posting a link to this update. I forgot to mention that on my last post.
I understand that this takes time and we all need to hold strong. But we're looking at 10bpd (said 71 in a week). Maybe more with the simmons lease by end of feb? So maybe summer the way this company likes to delay things. And I would like to know what these "robust numbers" from the bakken shale report are.
I guess it makes sence to withhold that information until they close the deal. I hope they actually finalize everything by the end of the month.
I just want to know where this PR is. I feel like it's been an extra long time.
Lol. Very true. Hold out for good news in the future. If you build a specific day or time up in your head then it hurts that much more if it doesn't happen.
As for Omne. I told myself that I would sell next time he pumps. He's an artist. I didn't sell though. I thought we would break a penny with this weeks push.
I sincerely hope that the ocompany puts out a PR Monday morning. Dilution is a necesary evil for these small companies when they are starting out or getting on their feet. Hopefully the mindset here was to dilute ahead of a good PR so as not to hinder the coming upward momentum. I can see that. I want that and I am trying to remain optimistic.
However, my growing concern is that the company has succeeded in a terrible game. They're indeed pumping out the hopes of everyone on this board. Keeping us all on the hook while divying out more shares. Nothing but speculation backed up by delays and excuses.
I am long. But wearing thin guys. Good Luck. I hope we have good news next week.
Thank you for the update brya!
Dang it...
Yup. I most definitely agree. I can't be worried about the share structure though. Go take a look at liquidmetal. That stock jas a simular ammount of shares and sits around .15 on nothing but rumor and here say. Petron Energy actually has infrastructure and have produced. Not a lot I'll admit, but they will grow.
If you held these last six months then I would call you foolish if you sold now. Nothing but good is on the horizon folks.
Like. On a scale of 1 to everyone here could pay off their mortgages, good?
I feel like I'm watching the water boil. I feel everyones anticipation and excitement. I really wish I wasn't averaged so high. Good luck everyone.
Merry Christmas!
Sounds like guaranteed dilution. 21 to 120 days after today unless the company can buy their way out of this agreement IMO. Does this agreement meen PEII aquires $10mil today? Aaand when are they supposed to sit down and muddle theough the bakken shale deal?
I agree the volume isnt there for a strong movement. However, I would like to see a slow crawl back to a penny before a surge. If there was a huge surge right now we might see 2 pennies before profit taking drops it.
It's time to start accumulating shares IMO. Nothing but good news is left for us on the horizon.
What I've read is that your shares, any shares, can be lent out if you cary any ammount over on margin. If you owe a penny they can lend all your shares. It depends on your brokerages margin agreements. Some can lend your shares purely on the fact that they are in a margin account. The only guarentee is holding your shares in a cash account.
Regardless. Holding your shares firmly is in everyones best interest. Less supply.
There's so much potential right now. Positive production numbers. Sealing the Bakken deal. Then a proffitable quarter report. It would be the perfect storm.
Thank you. Good stuff.
Is there a link to the interview? I cant find it...
I love it. First the new bashers will crawl out of the wood works. Then youll see the new supporters. News hits and the entire otc community comes runnin.
I could be horribly off. Just sayin.