Well I have to say that I understand your thoughts. But FS has been very transparent about keeping OS up to date on a weekly basis and notifying all investors of what financing/convertibles etc are coming.
Having said that this is one of the few companies I've watched use the OTC for what it is intended. This is a company with real assets and production albeit working to increase production to be a profitable entity. They were dealt some bigger start up blows last year that caused them to refocus and meet new regulations putting other things on hold and putting a financial crunch on PEII, hence the immense increase of the OS here.
I don't like seeing the OS continue to increase but am not surprised with the current S1 and think we have seen a big portion already hit the market. Seems the way FS announces the bad news after the lucks have already hit.
Question is will this be enough to allow some consolidation and pps recovery or will there be more sales right behind???? There does not seem tone any more convertibles until OTC/nov so we could see selling end for the moment so long as he doesn't create anymore. He clearly needs to continue to progress on increasing production and promoting at the same time here. That with sellers done will allow for this to churn and move pps north a bit. All JMHO!
PEII
If you haven't learned yet, most posts on a message board are in the writer's opinion. All of my posts are in my opinion (IMO)......do your Due Diligence (DD) and make up your own mind!
