too many shares, page-7

There is a lot of shares on the register.. that is fact. To ignore the number of shares on a register when investing is foolish as well.

We know the fundamentals of PEN.. but by the time we take conversion of options and possible capital raising, the number of shares will be a lot. If there was say 500 million shares on the register, our share price would not be 2.4 cents.

Not to discuss other stocks, but LYC and ARI increasing the number of shares with capital raisings, I would say has contributed to significant falls in their share prices.

More shares = dilutes holdings. That's basic investing.

We all love PEN here, but best to have an open mind about it all and not be so biased with PEN either. At the end of the day, we are investing with real money.

Management have disappointed with missed timelines and high lack of communication, so let's not forget that either.