sk what if it is not approved? SEC might have problems with 2 bilion issued and no increase in production, corporate structure (51% ownership solely by FS making it somewhat not really a classic publicly traded company), corporate governance (BOD appointed by FS himself, very weird), old 10K attached (remember financials are last years)...............This long wait is good and bad, good because rejections has been returned fairly fast, bad because, if it needed only small corrections here and there, why it takes so long and I thought they did an accelerated filings with 48 hours mandatory turn around. When is 48 hours up? Also, filings are expensive especially for a cash starved company like Petron whose primary source of cash is dilution. Also, can somebody post the link to SEC site so we can check if it was indeed approved or not.
There is no doubt that S1 is the last resort for anything to look for, after that there is hardly anything of a value left. IMHO
