Newbie hre, I agree that no one should have gone broke on a Penny stock bet, unless of course it was a day trade and you got greedy. I only took a small position in hopes that the new well produced, but am still holding as the guidance hasn't changed for the 2nd or 3rd quarter. If I had a little extra cash free I'd double down at these levels and average lower, but VSCI took a huge dive yesterday for no reason again and I'm down $0.70 on my entry on that.
Long term this should recover. As for the dilution with the release of more stock to cover debts, looks like thats already played out, the share drop from $0.40 to $0.02 happened on the announcement. This stock was above $2 when they were cash flow negative, they are now cash flow postive with 2nd quarter revenues of between $.3-.5 million for the 2nd quarter and $.8-.9 million for the 3rd quarter. These figures never included the Lone Oak wells, and there are more wells to be drilled. I'm going long on this stock as there is a huge upside potential going forward. The stock may be down now, but you only lose money if you SELL the stock when it's down.
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