Pedevco Corp. (PED)

[Sheepdog]

They made the filings a week ago.

Our beloved PEDO did a 3/for 1 reverse split effective 4/23/2013 giving 13.9M outstanding shares. The next day they decided to sell almost 12M shares meaning a further almost 50% dilution. The old BESV shareholders have been diluted into oblivion. They now have about 1,000th the value they purchased in BESV. I call 99.9% oblivion. Management wins...shareholders lose.

The old BESV shareholders were sold out. They gave up the shell for no cash and 5% of the shares....a typical sale of a trading shell with no assets. Even though we had (supposedly) Millions in assets)s. The orchestrator of the sale was Peterson who was rewarded with a job at PEDO. You know, the same guy who took $4M in income and pissed it away to "management fees"?

Peterson, Berg, Mcafee...what a group!

If it wasn't for the continued taint of Peterson, this would be a new company. Maybe he can put this one down by using the cash to buy lottery tickets also.