"...things  don't make sense to me."

That is pretty clear.

Also, and for what it is worth, calling someone a liar could land you in court if you were not hiding behind an alias.  That JB was forced to spend PP money to keep the company alive (after State Lands Commission failed to respond to claims filing in a timely manner) does not mean he lied when he tried to raise money for drilling, even as not enough money came in anyway.  The option was to return what money came in and file for bankruptcy, given that the filing took 4-5 years to get approved.  Would bankruptcy have made you happy?  Maybe so, because you would then have no basis at all - true or false -for calling JB a liar.  And you would not even be appearing here to complain about it, would you?