You need to read the 10-Q filings: FS is NOT hiding anything and is very up front with what is going on. He put in a disclaimer, if you will. Your SEC BS holds no water here. FS is basically saying, We are selling shares to cover our business expenses, If this is news to you then you have no clue and need to do more DD. Is this stock risky, YES! Can money still be made here ABSOLUTELY, even in the face of the dilution happening right now. Oil in considerable quantity is about to be added to the income picture, reducing the need for dilution for revenue and increasing shareholder value.
PEII 10-Q Quote: "Future Financings
We will continue to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund our operations and other activities."
