Replies to post #5245 on Pedevco Corp. (PED)

[PD4107]

well, Kukes gave a loan and has changed the loan to shares at a price of $ 2.13. So he now is the same risktaker than other retail. he had given the loan more then a year ago if I remember . and took interest payments on the loan to his startup company. then payed the loan back by taking shares. some may say in an effort to show a company with no debt. some may say to move his own money around. I say both he took the risk at the start of this adventure, don't try to give him credit twice.
Thats good.
You say he now sells the purchase of $ 2.13 for under $ 2. How do you think Kukes has made millions ? Not sure why you think I said that. what has he sold?

Why do you think Kukes is a liar ? Do you realy think in his age with all his money he had nothing better to do ? Come on - you said you are a business man as well.... I do think he is less then truthful

So you are not believing the latest statement of the company having the first of several wells ready with an IP30 of 480 BOEPD (88% oil). You think that Kukes is a liar ? didnt say I dont believe the 8K, for his sake I hope he didnt file a false report with the SEC We shall see what ped pumps in the next quarterly. Or if you have a subscription to a service you can see what is being pumped currently ;)

PED is a little REI. They both have the same business model. REI is also very successful in the same region. If they find oil there PED also will. And they produce a lot of oil in that region. I live in Weld County and own sub surface rights , I have a good understanding of what companies do here. As I have stated I am exposed to many people that work for the 3 major companies here. That gives me insight into areas I dont have knowledge of. We are not talking about REI we are talking about PED.

Give us your projections of PED´s production from 8 to 9 wells drilled and producing by end of year. Can't comment on horizontals not drilled yet. Been apart of 2 large horizontals that looked supper bad ass and turned out to be just OK. And dont forget this is called pooling for a reason. I can tell you this, it takes time especially when you have to pay for it all. PED is 6 guys in an office, probably not even the same office . That means they don't have 150 trucks driving around with guys working . They have to use all outside labor. now if ped can show a more positive revenue outlook on the next quarterly I'm sure more people will take them seriously. Don't forget I'm not the one who has been dumping shares for the last 6 weeks. Its the market and the market sets the PPS

Don´t live in the past any longer....
I agree don't live in the past but there is tons to learn there, it's called experience after it happens

[PD4107]

"well, Kukes gave a loan and has changed the loan to shares at a price of $ 2.13. So he now is the same risktaker than other retail.
Thats good.
You say he now sells the purchase of $ 2.13 for under $ 2. How do you think Kukes has made millions ? "

this is how, with the dilution I spoke of. read the 10 K all you need to know is there now you have 45,288,828 shares to work with so no one has to worry about getting shares, plenty out there. They only need to think about what that did to the value of the shares they already had :



Convertible Notes Amendment and Conversion

On February 15, 2019, the Company and SK Energy agreed to amend the Convertible Notes (including the August 2018 SK Energy Note), October 2018 SK Energy Note, and the January 2019 SK Energy Note, to remove the conversion limitation that previously prevented SK Energy from converting any portion of the notes into common stock of the Company if such conversion would have resulted in SK Energy beneficially owning more than 49.9% of the Company’s outstanding shares of common stock

Immediately following the entry into the amendment, on February 15, 2019, SK Energy elected to convert (i) all $15,000,000 of the outstanding principal and all $126,000 of accrued interest then owed under the January 2019 SK Energy Note into common stock of the Company at a conversion price of $1.50 per share, as set forth in the January 2019 SK Energy Note into 10,083,819 shares of restricted common stock of the Company, and (ii) all $7,000,000 of the outstanding principal and all $187,000 of accrued interest under the October 2018 SK Energy Note into common stock of the Company at a conversion price of $1.79 per share, as set forth in the October 2018 SK Energy Note, into 4,014,959 shares of restricted common stock of the Company.

On March 1, 2019, the Company and SK Energy amended the June 2018 SK Energy Note, to provide SK Energy the right, at any time, at its option, to convert the principal and interest owed under such June 2018 SK Energy Note, into shares of the Company’s common stock, at a conversion price of $2.13 per share.

In addition, on March 1, 2019, the holders of $1,500,000 in aggregate principal amount of Convertible sold their Convertible Notes at face value plus accrued and unpaid interest through March 1, 2019 to SK Energy (the “Convertible Note Sale”). Holders which sold their Convertible Notes pursuant to the Convertible Note Sale to SK Energy, including an executive officer of SK Energy ($200,000 in principal amount of Convertible Notes); a trust affiliated with John J. Scelfo, a director of the Company ($500,000 in principal amount of Convertible Notes); an entity affiliated with Ivar Siem, a director of the Company, and J. Douglas Schick the President of the Company ($500,000 in principal amount of Convertible Notes); and Harold Douglas Evans, a director of the Company ($200,000 in principal amount of Convertible Notes).

Immediately following the effectiveness of the SK Energy Note Amendment and Convertible Note Sale, on March 1, 2019, SK Energy and the Unaffiliated Holder elected to convert all $31,300,000 of outstanding principal and an aggregate of $1,460,000 of accrued interest under the June 2018 SK Energy Note, SK Energy’s $22 million Convertible Note and all other Convertible Notes, into common stock of the Company at a conversion price of $2.13 per share (the “Conversion Price” and the “Conversions”) as set forth in the June 2018 SK Energy Note, as amended, and the Convertible Notes (including SK Energy’s $22 million Convertible Note (collectively, the “Notes”), into an aggregate of 15,381,605 shares of restricted common stock of the Company (the “Conversion Shares”).