Goob - I thought the odds were good in early June before this started. All I have since seen is BS PR's and wanton dilution. With EVERY share they dump on the street, they screw the shareholders and the odds for them to recover drop.
NO MANAGEMENT in the world would sell 95% (and counting) of the company out from under the shareholders for $1.5M and claim the company is worth more than $1.58M (1.5M/95%).
For example, if the company was going to be worth say $50M AFTER the dilution and was worth $14.219M (Shareholders equity on the last financial report according to the company or $.0142/share) before the dilution, they should have dumped only 2.52B shares (3.52B-1B) to do it, anything more is an unrecoverable detriment to the shareholders.
On the other side, the shareholders equity must increase from the current $14.219M to MORE than a staggering $355M in these last several months to just KEEP the $.0142/share value it was.
YOU DON"T SPEND A DOLLAR TO MAKE A nickel, a dollar and a nickel maybe, but not a nickel!!! And that is what this company has done.
Remember, 4 years ago the company was telling the shareholders it would be pumping 30,000 BBLS/month "in a few more months".
And now we know why the company with "Equity" equal to .0142 was selling for $.04/share a year ago and fell to $.0004 just before the dump.
This company is a pump and dump and I bought into it too.
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