I've been watching PEII for quite awhile. I was in, but sold at a loss when it dropped to .0065. I still believe in the company, but couldn't take the brunt of anymore dilution and decided to bow out for awhile.
I've been paying attention the to chart and it seems like dilution eases up for a couple days at a time every 2-3 weeks or so. If the chart stays healthy for a few more days, things might be ready to turn around.