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LOL, How can any sane person think a CEO would take a suggestion from an anonymous s board and implement it as strategy for a publicly traded company. CEOs don't read these boards LMFAO
Glad to hear you agree. Go PEII
Average Vol (3m) 153,685,053 per day. Statistics say otherwise. Most people buy a stock this cheap because of its potential, not because of its current production. If they had bigger number the stock would be much higher. They are working on that, just not at someone else s time schedule.
Right now 1 billion shares of PEII have traded Wednesday and today up until; 1:10 PM EST
PEII most actively traded stock on pinksheets today by share volume
http://www.otcmarkets.com/market-activity/current-otc-market
All legitimate points. I am just pointing out that continuing to cry about a R/S that happened a long time ago is pointless and waste and under the bridge. it has no effect on current trading or investors buying at this level.
They are down but the R/S has nothing to do with it. That screwed those who owned it pre R/S is the point.
R/S is so long ago nobody cares. Obviously new investors aren't affected by it. Plenty of volume last few months proves they don't care about it. Lots of companies do it on OTCBB and Pinksheet and it's totally legal.
PEII 100 share trade prints at .0002?
1 share trade print at .0003
clearly MM signals
this could be an attempt to shake out weak hands when they see they .0002
maybe time for a reversal?
6 mil quick buying vol at the open
Excellent post. Stuff gets old.
10) Would you consider a reverse-split to hold that .01 minimum bid price set by Otcmarkets.com?
The closing bid only needs to be .01 for 1 day in a month period and they can re- apply to go back to OTCBB. All reverse splits. name changes and symbol changes are under heavier scrutiny now and taking much longer with less success rate.
"Early wells could have been up and running to capacity, or near capacity,"
They are. AGAIN just because they run for a long time DOES NOT mean they will increase in BOD.
AGAIN they are low output wells.
This has been stated on this board by me and others dozens and dozens of times
Well if thats the way you feel, maybe you should not have become a shareholder in PEII because that has been their plan from the beginning. They have said secondary recovery is their core business and every SINGLE filing has pointed out their need for capital to complete their plan.
Dozens of people have pointed that out to you on this board.
Don"t go that far into debt ?????????????
lol
things cost what they cost. Do you have any idea how much it cost a company just to stay public? pay attorneys, CPAs, file 10Qs 10Ks 8K etc. PRs???? Throw in all of the costs of running an oil and gas company and you figure out how to not go into debt.
ridiculous to think any company public or private can just "decide" not to run up debt
show me some companies on the OTCBB or Pinksheets that don't have debt or that are under water.
The wells are low risk low production. That is PEII's business model. Secondary recovery does not relate to larger or increasing production from any individual well. You have it all wrong.
They need large amounts of money to put large amounts of low producing wells online. That is exactly where they are at. That is what the S-1 was for and exactly what the CEO said the money they draw down is going to be used for.
Diluting is necessary if the company's core business does not support the company's costs no matter what industry they are in. Anyone should have known this before they bought the stock by doing proper due diligence and finding out their current BOD production and comparing that to the ongoing costs. It will continue no matter how many posts you make. Until production goes up significantly.
reported by who?
This is common sense to most and to others is simply over their heads (especially because they are too short term minded) . The PEII model is VERY typical in pennystockland. They need to get to a large funding by eliminating debt and issuing shares to stay afloat. Once the S-1 money goes to increasing production the hope is that the news generated will have a major impact on the PPS.
Texas wells had absolutely NOTHING do do with costs. It was a reporting discrepancy. Get your facts straight please
aquire what? any real due diligence would have shown that the production was under 40 BOD since forever. If you look at the financials and 10Qs and 10Ks anyone with half a brain could figure out there was not enough production to cover costs of running operations and cost of staying current and public.
If someone wants safer oil company that has production that covers all company costs, they don't look at OTCBB. NYSE is better choice.
This is when dilution will stop in PEII......
when there is enough production to cover all of their costs and not a day or a share before that.
How else do you think small companies pay their costs?
They use the only currency they have, their stock.
If they don't use their stock they would be out of business, miss their filings and the stock would not trade.
End of story.
These look like retail size trades to me on PEII today
R/S, Symbol Change, Name Change, etc. are all becoming much harder and much more scrutinized processes in this new over regulated climate that FINRA and the SEC have created in the OTCBB and Pinksheet space.
They are all taking much longer and have lower success rates.
PEII is aware of that and has no existing plans for a R/S. Floyd has mentioned this many times, including hat the only time he would consider it would be in order to move to a higher exchange faster.
I have always maintained that key to PEII's success will be the press releases subsequent too the draw down on the $10 mil line of credit. If that money is properly allocated to increase production. This should have a nice upward run in PPS.
Now they have the funds, its time to execute the plan
"the Company is able to immediately begin drawing down working capital in an amount up to $10 Million Dollars." Smith further states, "Our current strategy is to use the bulk of these funds to increase production. Our team has worked extremely hard in accomplishing this great milestone which will allow our company to move ahead in implementing our 2014 CAPEX Plans. As I stated in a previous email we have three (Snyder/Simon, Edwards and Redder) of our largest leases scheduled for completion this year. We are well underway with secondary recovery procedures on the Snyder/Simon lease and will report a status update very soon."
IMO
PEII NEWS OUT FRIDAY MAY 9, 2014
LINK >>>http://www.otcmarkets.com/stock/PEII/news
Petron Energy II, Inc. Announces $10M Line of Credit is Approved and Plans for Use of Proceeds
Summary: Petron II Approved for $10M Credit Line
DALLAS, Texas, May 09, 2014 (GLOBE NEWSWIRE via COMTEX) -- via PRWEB - Petron Energy II, Inc. ("Petron II" or the "Company") (OTCBB: PEII) Petron Energy II, Inc. announces that its $10Million Dollar Line of Credit has been approved by the SEC. Petron Energy II, Inc. also announces its current plan for use of proceeds.
Petron Energy II, Inc., together with its subsidiaries, engages in the acquisition and development of properties for the production of crude oil and natural gas, the transportation of natural gas through its pipeline subsidiary and well servicing through its servicing subsidiary. The Company's operations are based in the United States.
Floyd Smith, President and CEO of Petron Energy II, Inc., stated "In our March press release we announced that we expected our $10 Million Line of Credit to be approved very soon. On April 25, 2014 we are pleased to announce that the SEC approved our $10 Million Dollar Line of Credit and the Company is able to immediately begin drawing down working capital in an amount up to $10 Million Dollars." Smith further states, "Our current strategy is to use the bulk of these funds to increase production. Our team has worked extremely hard in accomplishing this great milestone which will allow our company to move ahead in implementing our 2014 CAPEX Plans. As I stated in a previous email we have three (Snyder/Simon, Edwards and Redder) of our largest leases scheduled for completion this year. We are well underway with secondary recovery procedures on the Snyder/Simon lease and will report a status update very soon." Smith goes on to say, "Now that we have access to sufficient working capital, we have the control to execute our plan and hopefully begin to create a tremendous amount of value for our shareholders. We will provide more updates as they become available."
A little news will send TNEN flying !!!!
There was no PR of Floyd buying stock. That is a flat out lie. It was a Form 4 filing required by the SEC.
BIG DIFFERENCE !
A press release and a SEC filing are totally different.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9965908
Definition of 'Form 4'
A document that must be filed with the Securities and Exchange Commission (SEC) whenever there is a material change in the holdings of company insiders. Insiders required to submit a Form 4 include directors and officers of the company as well as any shareholders owning 10% or more of the company's outstanding stock.
Usually companies dont pr a filing. but here is a link to the filing http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9965908
Not with ETRF with 848K low offer. straight seller more likely. not easy to borrow shares with a DTC chill and stop sign. Tell me what broker dealer does that on a pink.
CHDN is up at .009. and VERT and VFIN out of the way. at least it has a better chance to run right now.
Sorry Flex. No pm.
This CEO flushed millions upon millions of shareholder $$$.
I was here from 2009 to 2012, along with many many others that were here since 2006.
so you are talking about 2 years ago?
5. Again Floyd doesn't control anything any more: Him even trying to show that he "buys back 50 million shares" and market plunges 30% the following day, that tells you a lot. How much credibility and trust he has or doesn't IMHO
no intelligent investor thinks day to day or gauges their investment that way
The R/S is water under the bridge ..get over it. New investors don't care. Old investors will never get their money back. That is not going to change.
Waiting on the 15C211 to be filed. BZRT may return to OTCPinkcurrent status
TNEN 3M average daily volume 1.1 million.
Not a bad day for WNBD so far
Best post I have read on this board in a long time. PEII is doing what a ton of companies do to move ahead. Short term pressure on PPS but those who believe in strategy and hold could be rewarded when the production goes up significantly.
WNBD Average Vol (3m) 744,201
Excellent post. I agree 100% and PEII is a perfect example of your point.