Mogul Energy Inc (MGUY)

[rarefind]

These guys are stone cold broke.Wow those big wells produced a huge let down of 54 thousand dollars of oil for 2011.....to funny.They need to get cash and they said they'll be doing that with good old fashion dilution and preferred shares...read the report that was out two days ago.This one stinks,very over valued see you at .005..IMO...rareF

Our certificate of incorporation authorizes the issuance of 100,000,000 shares of common stock, each with a par value of $0.01. Since our inception, we have relied on such equity sales of our common stock to fund our operations. We may conduct further equity offerings in the future to finance our current projects or to finance subsequent projects that we decide to undertake. If common stock is issued in return for additional funds, the price per share could be lower than that paid by our current stockholders. We anticipate continuing to rely on equity sales of our common stock in order to fund our business operations. If we issue additional stock, your percentage interest in us will be diluted. The result of this could reduce the value of your stock.