Eddy, we have already explained the financial market collapse to you, the investors are cashing out to recoup their money, they do not care about the company. They had previously naked shorted the security and have made their money back, in the process damaging the PPS and massively diluting the stock. Management cannot stop the CD conversions from happening, it is the companies legal obligation to repay the dept as required by the lenders, and that has been through debt conversion into stock, hence CD = convertible debenture.
The company is only around 2 years old, the 4 operating wells that they have only started production at the beginning of last year. The companies monthly debt obligations outstrip it's current revenue from the 4 wells, thereby massive dilution to meet it's debt payments. The lender/CD holder controls how the debt is repaid, not the company. Most of the debt has been repaid at this time, and current cash on hand and revenue should allow the short term debt to be retired by the end of June if my calculations are correct, so it is still possible for the company to survive. After the CD is retired, the company can once again concentrate on getting more production on line and start share buybacks to repair the massive dilution problem.
News 
Market Data 
Discover 
