I believe FS is applying the funds generated thru stock sales (dilution) to improving his oil and gas leases. However, what I disapprove is his taking his salary $200,000/yr and Director fee $60,000/yr in cash. He would show faith in PEII success if he took half in stock, or even reduced his salary until PEII becomes profitable. At the present rate of oil production revenues run at approx. $40,000/mo. I don't know what it costs to service PEii's oil & gas leases. I can guess, along with FS salary, these costs eat up more than the $40K. I guess we will find out when (and if) FS issues a Quarterly Report. It is going to take great oil and gas production for some stockholders to recover their losses. For some, even 2000% will not do it. GLTA
