Pedevco Corp. (PED)

[PD4107]

the share dilution has just murdered this ticker. you cant have nearly 60 million shares out there at over a dollar a share for a company that isn't valued at more then maybe $35 million. Dr. Kukes has put himself in a great position. He owns a large portion of PED stock, So if Pedevco succeeds, his PED stock should rally. And if it doesn't, he owns the company's debt, ensuring that his SK Energy still has the claim on Pedevco's assets. For other PED stock owners, the situation is significantly less promising. With the newly enlarged 55 + million share count, the market is valuing Pedevco at nearly $60 million for a company with about 35-40 million in book value (its oil assets minus the SK Energy debt). This is likely much too high, given that Pedevco will remain unprofitable unless it dramatically increases its revenues. It seems the market is slowly correcting though