Here is the dilution that is cuurtently occuring in this company year on year Shares Outstanding (m):
Shares Outstanding (m) 34.90 50.50 78.70 90.90 190.60 239.00 567.00 568.80 821.70
The exponential dilution is a very very bad sign. At the rate its going even if this project was funded and the company became worth over 1 billion in market cap the share price will only be like 3 to 5 cents by the time that occurs with the amount of dilution that is occuring. So how can anyone think this could make them a return when its current price is already maxed out with taking into account a market cap of 1 billion dollars? Wheres the value?
This will have well over 1 billion shares on issue next round of cap raising (which is not far off) and wihtin two years at the share issuance rate its currently sitting at it isnt looking good. The company has no choice but to issue shares to keep the lights on, it has 3 million in the account with 5 million in bonds due. At this rate youd do better shorting this thing than holding it.... As I've said, I have written my 100K investment a long time ago when there was real potential at gaining value here, that value has been totally destroyed and it cant be recovered with the amount of shares going out to keep the lights on let alone get the project funded.
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