Pedevco Corp. (PED)

[tigerpac]

IMO, the company needs to keep raising cash anyway they can to meet their $35-40 million capital expenditure plan for 2022. Plus they will need cash to buy/lease more land for the future. Currently their annualized revenues are about $30 million. So the company needs to somehow dramatically increase their revenues. They need to get more $ from each well. Because you can't spend $35-40 million to produce $30 million revenues. That's just bad business.

No wonder why the company has to go to the well (pun intended) to sell shares from time to time in offerings.