Yeah I get that, but there is no arguing that PEII has received a ton of funding without giving shareholders anything in return. If you look at the 10-k (April 10, 2014) - page F-3 you will see a huge Additional Paid-In Capital otherwise known as capital surplus, which is the cost of the stock to investors minus the par value(face value).... drumroll....
The Capital Surplus for PEII at the end of 2013 was $21,869,581
-They have included this under stockholder deficit (accumulated deficit) over the course of Peii's lifetime (2012-2013)... normally when a company has additional paid-in capital they can use this as earnings, but instead Peii has reinvested the money into the company for who knows what and has included this as deficit, if they had kept it as earning they could have given out a dividend using the earnings to all shareholders, but instead have used the money for other things... what this means is that shareholders up until 2013 have invested over 21 Million in the company by purchasing stock and if you look at the chart the stock from 2012-present is a continuous steamrolling dilution train and the long term trend is down... that's because peii is diluting and issuing shares that's all they do... but, my point is... that shareholders to date at end of 2013 had invested over $20M in peii per the "additional paid in capital" i.e. they continually have been issuing new stock and this year we have seen huge dilution about 8Billion shares this year alone!!! You can't tell me they haven't received a ton of money.... they don't need s-1... they need to use what they have and produce results or tell shareholders what is up. A reverse split and further dilution would just be outright fraud... they've received so much money to date already through selling of stock. So many people have invested in peii, but they give no slice of the pie back. The guy who said he lost 50k... it's very possible.
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